Electric axle drive market is expected to witness substantial growth over the forecast period. The electric axle is a small, low-cost electric drive system designed for battery-electric cars and hybrid applications. The electric motor, power electronics, and gearbox are all bundled into a small unit that powers the vehicle’s axle directly. This contributes to making electric drives less sophisticated yet more user-friendly. Furthermore, the powertrain becomes less expensive, more compact, and more efficient.
The power electronics transform the direct current from the battery into the alternating current required by the electric motor. The electric motor transfers torque to the gearbox by converting electrical to mechanical energy. The gearbox gears the electric motor’s speed to the level required by the drive shaft while also enhancing the motor’s torque. The overall degree of efficiency is determined by the combined efficiency of the electric motor, power electronics, and transmission. The optimization and integration of these distinct components results in a considerable increase in efficiency.
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Electric axle drive Market Report Highlights
- In terms of revenue, the flexible foam segment accounted for the highest revenue share in 2020
- The Asia Pacific region is likely to gain traction throughout the projection period due to increased vehicle sales, robust demand for aftermarket components, and a strong OEM presence. As a result, the Asia Pacific region is predicted to grow at a significant rate throughout the projection period.
- Western European nations’ need for the electric axle drive market presents a potential market for the electric axle drive industry.
- The electric axle drive and wheel drive market is divided into four categories: motor type, drive type, vehicle type, and end-user.
- The electric axle drive market is divided into three categories based on motor type: permanent magnet ac motors, brushless dc motors, and others.
- The electric axle drive market has been divided into two segments based on drive type: totally electric and hybrid.
- The electric axle drive and wheel drive market has been divided into three segments based on vehicle type: pure electric vehicle, hybrid electric vehicle, and plug-in hybrid electric vehicle. Electric axle drive have also been classified according to end user into passenger vehicles and commercial vehicles.
- The Electric axle drive market is highly competitive in nature with the presence of local & international players. Major players in the industry engage in strategic merger & acquisition, partnership, and new product launches to remain competent in the market.
- For example, In July 2021, Vitesco, a Continental spin-off, seeks to score in the rapidly increasing sector of electromobility by offering increased power density and compact dimensions at a low weight. The new drive, codenamed EMR4 (Electronics Motor Reducer), is geared towards the mainstream of the next generation of e-cars. The Vitesco drive platform is intended for power requirements ranging from 80 to 230 kW.
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ELECTRIC AXLE DRIVE MARKET SEGMENTATION
The research report published by Market Research Strategy contains industry segments, as below-
Electric Axle Drive Motor Type Outlook (Revenue, USD Million, 2016 – 2027)
- Permanent magnet AC motors
- Brushless DC motors
Electric Axle Drive Vehicle Type Outlook (Revenue, USD Million, 2016 – 2027)
Electric Axle Drive End-User Type Outlook (Revenue, USD Million, 2016 – 2027)
- Passenger vehicles
- Commercial vehicles
Electric Axle Drive Regional Outlook (Revenue, USD Million, 2016 – 2027)
- North America (U.S., and Canada)
- Europe (Germany, U.K., France, Italy, Spain etc.)
- Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
- South America (Brazil, Mexico, Argentina etc.)
- Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa etc.)
List of Key Players – Electric Axle Drive Market
- Apollo tires
- Cheng Shin Rubber
- Goodyear Tire & Rubber
- Green Arc Tire Manufacturing
- Michelin North America
- Nokian Tires
- Pirelli Tyre SpA
- PPG Industries Inc.
- ZC Rubber
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Key Features of the global Electric Axle Drive Market:
• The Electric Axle Drivereport offers detailed estimations at the regional level with manufacturers, consumption, sales and import/export dynamics.
• The report provides accurate details related of the manufacturers/vendors in the market, company overview, pricing analysis, financial standing, product portfolio, and gross profit of leading companies.
• Company profiling with prevalent expansion strategies, revenue generation, and recent developments.
• Optimum strategic initiatives for new players in the Electric Axle Drive market.
• Manufacturing processes, suppliers, cost, rates of production and consumption, transport mode and cost structuring, and value chain analysis.
• The study also includes supply chain trends, including elaborate descriptions of the latest technological development
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