A surge in demand for hybrid and electric vehicles across the globe drives the growth of the global E-Axle market.
PORTLAND, OR, UNITED STATES, November 25, 2020 /EINPresswire.com/ — E-Axle Market 2020-2030: According to the report published by Allied Market Research, the global E-Axle market generated $24.76 billion in 2017, and is estimated to reach $21.63 billion by 2025, registering a CAGR of 34.6% from 2018 to 2025. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
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Growing demand for hybrid and electric vehicles across the globe and rise in fuel cost across the globe drive the growth of the global E-Axle market.
However, high cost associated with the cost of electric axle drive system restrains the market growth. Furthermore, growing adoption of E-Axle in ICE vehicles is expected to provide new growth opportunities for the market player.
Manufactrurers across the globe have halted their production activities due to disrupted automotive supply chains during lockdown. In addition, this would lead to a decline in demand for E-Axle.
According to the China Passenger Car Association (CPCA), sales of automobiles in China have significantly dropped in June 2020 as compared to April 2020 and May 2020. This portrays the reducing demand of automobiles during Covid-19.
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The report offers a detailed segmentation of the global E-Axle market based on drive type, component, vehicle type, and region.
Based on drive type, the forward wheel drive segment contributed to the largest share in 2017, accounting for more than half of the total share, and is estimated to maintain its dominant position during the forecast period. However, the all-wheel drive segment is estimated to portray the highest CAGR of 35.9% during the forecast period.
Based on component, the transmission segment accounted for the largest share in 2017, holding more than four-fifths of the total share, and is expected to maintain the largest share throughout the forecast period. However, the combining motors segment is expected to register the highest CAGR of 47.9% from 2018 to 2025.
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Based on region, Asia-Pacific contributed the highest share, accounting for more than two-fifths of the total market share in 2017, and will maintain its dominance throughout the forecast period. In addition, it is also expected to grow at the highest CAGR of 36.2% from 2018 to 2025.
Leading market players analyzed in the E-Axle market research include Nidec Corporation, Robert Bosch GmbH, GKN Plc, ZF Friedrichshafen AG, Continental AG, Schaeffler Technologies AG & Co. KG, AVL List GmbH, Borgwarner Inc., Dana Limited, and Axletech International.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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Source: EIN Presswire