Electric Axle Drive Systems Global Market is segmented By System Type (Electric Systems, Hybrid Electric Systems), Vehicle Type (Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles), and Region. Report provides Electric Axle Drive Systems Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
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Electric Axle Drive Systems Market Key Companies Studied In This Research Report:
American Axle & Manufacturing Holdings, Inc. (U.S.), Robert Bosch GmbH (Germany), ZF Friedrichshafen AG (Germany), Magna International Inc. (Canada), GKN Plc (U.K.), Schaeffler Technologies AG & Co. KG (Germany), Bonfiglioli Riduttori S.P.A. (Italy), Continental AG (Germany), Ziehl Abegg SE (Germany), and Borgwarner Inc. (U.S.).
Global Electric Axle Drive Systems Market Analysis 2019:
Electric axle drive systems, also known as propulsion systems, constitute an electric motor, power electronics, and transmission that are combined in a compact unit that directly powers the vehicle’s axle which aids in making electric vehicle handling less complicated. With these drive systems, electric vehicles (EV) become more compact, efficient, and more cost attractive.
To overcome this disadvantage, in today’s electric car operations, the electric axle drives are increasingly used which are cheaper and much more efficient. This is primarily since electric axles integrate the transmission, the e-machine and the power electronics in a single module. The performance of these electric axle drive systems can be scaled up to match for usage in the compact cars as well as in sports car and commercial vehicles. The electric axle systems are directly mounted on the axle which also saves space for engines and transmissions.
Over the past couple of years, due to the increasing fuel prices and environmental concerns, governments of countries across the globe are increasingly promoting the uptake of eco-friendly alternatives for vehicles powered by traditional fuels. As a result, the sale of electric vehicles is growing pervasively and so is increasing the sale of these axle drive systems. These factors presage the vast prominence axle drive systems are about to garner in the recent future and the significant traction its market will be gaining soon.
Additional factors substantiating the market growth include the expansion of global auto-manufacturers into new emerging markets, and the increasing investments transpired into the development of these systems. Moreover, the factor that acts as a key driving force behind the market growth is the unique ability of these drive systems to integrate wheel hub and all components required for a drive such as an axle and deceleration, driving safety into single a unit.
Study Period: 2017-2023
Base Year: 2017
Target Audience of Report: This report mainly focuses on Electric Axle Drive Systems manufacturers, Distributor & Supplier companies, and end Users. Investment bankers and consultants with end user for Electric Axle Drive Systems market also analyzed. And finally, Government and Independent Regulatory Authorities involved with Electric Axle Drive Systems Global Industry are studied in this report.
The scope of the study segments the global electric axle drive systems market by system type, by vehicle type and by regions.
By System Type
- Electric Systems
- Hybrid Electric Systems
By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- North America
- Asia Pacific
- Rest of the World
Region-wise, the global Electric Axle Drive Systems market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
The Asia Pacific region is forecasted to retain its dominance over the global electric axle drive systems market throughout the forecast period. Factors such as the increased electric car sales in countries such as China, Japan, South Korea, and India are predominantly propelling the market growth in the region.
Many countries across the region are rapidly encouraging the adoption of electric vehicles, offering favorable tax benefits. As electric vehicles are less polluting and have reduced environmental impact which further enables these countries to tackle pollution emission problems. China is the largest market for electric vehicles which in 2016, has sold more than 507,000 electric vehicles and plug-in hybrid electric vehicle, followed by the US and Europe.
The North American and European regions follow the Asia Pacific region closely in terms of adoption of electric vehicles. Electric vehicles are increasingly becoming affordable in these regions and are on par with the conventional gasoline vehicles for performance and range.
In the North American region factors such as the rising technological enhancements and increasing focus of the government towards the use of eco-friendly, electric vehicles that leave a lesser impact on the environment. Furthermore, the well-established infrastructure in the region supports the market growth, allowing faster implementation of electric vehicles. Additionally, the growing number of manufacturers providing electric axel drive systems at comparatively lower prices is another key factor driving the market growth in the region.
The European region is emerging as another lucrative market for electric axle drive systems, showing considerable growth. Countries such as the U.K., Germany, Sweden, and Italy are contributing to the growth in the regional market. Undoubtedly, the resurging economy is supporting the market growth in the region, boosting the demand for these axle drive systems in the aftermarket.
Study Objectives of Global Electric Axle Drive Systems Market:
— To provide detailed analysis of the market structure along with forecast for the next five years of various segments and sub-segments of the global market
— To provide insights about factors affecting the market growth
— To analyze the market based on various factors such as supply chain analysis, and Porter’s five forces analysis
— To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries – North America, Europe, Asia-Pacific, and ROW.
— To provide country level analysis of the market with respect to the current market size and future prospective
— To provide country level analysis of the market for segment by type, vehicle type, and region
Major Table of Content:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
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