Pune, India -- (SBWire) -- 04/06/2018 --Electric Axle Drive Systems Market Size, Share, Sales, Trends Analysis Research Report 2018 of 110 pages expands comprehensive information on Electric Axle Drive Systems Market By System Type (Electric Systems, Hybrid Electric Systems), By Vehicle Type (Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles), and By Region with Global Forecast To 2023.The report studies Electric Axle Drive Systems Market key players, providing a six-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW).
Bosch GmbH (Germany), American Axle & Manufacturing Holdings, Inc.(U.S.), ZF Friedrichshafen AG (Germany), GKN Plc (U.K.), Magna International Inc. (Canada), Schaeffler Technologies AG & Co. KG (Germany), Continental AG (Germany), Bonfiglioli Riduttori S.P.A. (Italy), Borgwarner Inc. (U.S.) and Ziehl Abegg SE (Germany) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Electric Axle Drive Systems Market.
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Electric Axle Drive Systems Market Overview:
Electric Axle Drive Systems market is expected to reach USD 8,226.3 million by 2023 and is expected to grow at a CAGR of 12.31% during the forecast period. Electric Axle Drive Systems are drive systems that are majorly used in the electrical and hybrid electric vehicles. These systems are developed for all vehicle segments and for both front and rear wheel drives. The use of Electric Axle Drive Systems enables high flexibility and adaptation to suit various engines and transmissions. The electric axle drives also incorporate several drive components which increases safety and enable smooth drivability of vehicles.
Global major automakers are increasingly speeding up the electrical vehicle production because of rise in demand for electric vehicles and the obligation to reduce the carbon emissions from vehicle operations. For the future mobility solutions of the electric vehicles, electric axle drive systems are considered as the way forward. The predominant driver for the market is the ability of electric drive systems to integrate wheel hub and all components required for drive such as drive and deceleration, driving safety into single a unit. Other major driver for the market is the ability of automakers to design and adapt the electric drive systems
Electric Axle Drive Systems Market Segmentation: By System Type (Electric Systems, Hybrid Electric Systems), By Vehicle Type (Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles), and By Region.
Electric Axle Drive Systems Market Regional Analysis:
Geographically, Asia Pacific region is expected to dominate the electrical axle drive systems market owing to increased electric car sales in countries such as China, Japan, South Korea and India. Many countries in the region are rapidly adopting to the introduction of electric cars as they are less polluting and has reduced environmental impact. This further enables them to tackle pollution emission problems and are further motivated by the generous tax systems for electric cars. The North America and Europe region closely follow the Asia Pacific region in the adaptation of electric cars. The electric cars are increasingly becoming cheaper in these regions and are on par with the conventional gasoline vehicles for performance and range.
According to Automobile Association of America (AAA), lower gas prices have not inhibited enthusiasm for electric cars. As per the market research, the demand for electric car is likely to increase in the coming time. More than 30 million American are likely to buy electric car as their next vehicle. This trend in majorly influenced by compliance and people commitment towards environmental concern and carbon reduction. Heading towards APAC region, China has named itself as the leading market for electric vehicles. In terms of market development, China has sold more than 507,000 electric vehicles and plug-in hybrid electric vehicle in 2016, which was around 53% rise from 2015.followed by US and Europe. Moreover, the key market players are more inclined towards focusing on electric vehicles and have started offering EV range for models including hatchbacks, superminis, sedans, large family cars, vans and others. Considering all these factors, the demand for electric axle drive system has also increased and the OEM have shifted more focus on increasing its production. However, the rising in the number of electric vehicles will directly increase the demand for electric axle drive system.
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List Of Tables:
Table 1 Global Electric Axle Drive Systems Market, By System Type
Table 2 Global Electric Axle Drive Systems Market, By Vehicle Type
Table 3 Global Electric Axle Drive Systems Market, By Regions
Table 4 North America Electric Axle Drive Systems Market, By System Type
Table 5 North America Electric Axle Drive Systems Market, By Vehicle Type
Table 6 U.S. Electric Axle Drive Systems Market, By System Type
Table 7 U.S. Electric Axle Drive Systems Market, By Vehicle Type
Table 8 Canada Electric Axle Drive Systems Market, By System Type
Table 9 Canada Electric Axle Drive Systems Market, By Vehicle Type
Table 10 Europe Electric Axle Drive Systems Market, By System Type
Table 11 Europe Electric Axle Drive Systems Market, By Vehicle Type
Table 12 Germany Electric Axle Drive Systems Market, By System Type
Table 13 Germany Electric Axle Drive Systems Market, By Vehicle Type
Table 14 France Electric Axle Drive Systems Market, By System Type
Table 15 France Electric Axle Drive Systems Market, By Vehicle Type
Table 16 U.K. Electric Axle Drive Systems Market, By System Type
Table 17 U.K. Electric Axle Drive Systems Market, By Vehicle Type
Table 18 Rest Of Europe Electric Axle Drive Systems Market, By System Type
Table 19 Rest Of Europe Electric Axle Drive Systems Market, By Vehicle Type
Table 20 Asia-Pacific Electric Axle Drive Systems Market, By System Type
Table 21 Asia-Pacific Electric Axle Drive Systems Market, By Vehicle Type
Table 22 Row Electric Axle Drive Systems Market, By System Type
Table 23 Row Electric Axle Drive Systems Market, By Vehicle Type
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Electric Axle Drive Systems Market Set to Hit $8226 Million by 2023: 2018 Industry Analysis by Size, Share, Growth, Trends, Sales, and Region