The ****** automotive e-axle market size is anticipated to touch USD 27.19 billion, by the end of 2025, and is projected to grow at a compound annual growth rate of 23.7% during the forecasted period, 2019 to 2025. Increasing adoption of electric vehicles (EVs) is estimated to drive the growth of automotive e-axle in the coming few years. Additionally, countries like Germany and South Korea have planned to produce electric vehicles in large capacity, which is anticipated to surge the market growth.
In Asia Pacific, the availability of affordable raw materials, and low-cost labors are key factors boosting the market growth. For example, China was the largest manufacturers of electric cars in 2018. Additionally, growing economies such as India, and China have witnessed huge growth in the automobile sector. Rising demand for luxurious and premium EVs in the region is projected to propel the growth for automotive e-axle market.
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Development in charging infrastructure in places such as shopping malls, parks are expected to contribute to the growth of electric vehicles. The countries are focusing on installing charging stations in public places to meet consumer needs. Private and government sector companies engage in developing charging solutions, which is projected to bolster the demand for axle drive in electric vehicles.
Furthermore, R & D initiatives in automobile e-axles technologies have improved the efficiency, and design of the product. Improved designs opened up space for battery storage capabilities. Several players focus on developing new products using advanced technologies. For example, in 2019, BorgWarner has introduced automotive e-axle called iDM. These products are suitable for rear & front application in commercial vehicles and passenger cars.
Impact of COVID-19
COVID-19 pandemic has adversely impacted the ****** commercial vehicle market, as the ****** sales have witnessed decline in their sales by 26 to 30.0% during the first quarter of 2020. Supply chain disruption, and lockdown restriction have interrupted the production of automotive components such as E-axle and others. Thus, OEMs are finding it challenging to manage the stock levels of finished vehicle.
Technology upgradations, and stage VI emission standard are expected to bolster the growth of vehicle manufacturing in the forecast period, especially in China, and India. This factor is projected to positively impact themarket growth.
Table of Contents:-
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Automotive E-Axle Market: Market Variables, Trends & Scope
Chapter 4 Automotive E-Axle Market: Product Estimates & Trend Analysis
Chapter 5 Automotive E-Axle Market: Application Estimates & Trend Analysis
Chapter 6 Automotive E-Axle Market: End-use Estimates & Trend Analysis
Chapter 7 Automotive E-Axle Market: Industrial End-use Estimates & Trend Analysis
Chapter 8 Automotive E-Axle Market: Regional Estimates & Trend Analysis
Chapter 9 Competitive Landscape
Chapter 10 Automotive E-Axle Market: Manufacturers Company Profiles
Top Key Players of ****** Automotive E-Axle Market :
Melrose Industries, Schaeffler AG, Robert Bosch GmbH, Magna International Inc., and Dana Incorporated
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