Global E-Axle Market 2019-2025

May 1, 2019


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INTRODUCTION

An e-axle combines several elements. The electric motor, power inverter, transmission and differential are housed in a single package. E-axle allows neat packaging and simplified integration in even older vehicle platforms. GKN produced world`s first mass production two speed e-axle in 2014, for BMW i8. The development came at a time when most of the EV transmission in use was single speed.

 

MARKET DYNAMICS

The initial adoption of E-axles, started as a result of growth in all wheel drive (AWD), where some premium vehicle manufacturers replaced mechanical AWD with e-AWD. The move was aimed at providing AWD with torque vectoring and reduced CO2 emission. Going forward, we believe this global trend of vehicle electrification will be a major growth driver for E-axle market.

 

On global scale,roughly put 65%-75% of traction motors produced globally are in-sourced and in future, when EV volumes further increase we expect the share to go even higher.Therefore,the same sourcing pattern exists for e-axles.

 

The supply chain of EV manufacturing is completely different than gas powered cars. Also, the supply chain of EVs is still evolving whereas that of gas powered cars is matured and well established. This marked difference in production of EVs has led many OEMs create a separate brand for their “green vehicle” segment.

 

Owing to complexity in EV manufacturing, OEMs are designing modular and scalable electric vehicle architecture. The advantage being, they could source just one e-axle from a supplier rather than sourcing individual power-train components from multiple suppliers. The market trend is clearly towards more compact, power dense and efficient E-axles.

 

MARKET SEGMENTATION

 

how is the automotive e-axle market segmented

 

MARKET SIZE AND FORECAST

In China, which accounts for 50% of global EV sales, almost all domestic manufacturers have declared plans to setup a separate EV brand, but very few of them are using an e-axle.The entry level cars(A00 and A0 segment) made up for just 14% share of overall new car sales in 2018 but in EV segment, the two segments accounted for 35% of total sales. The EV market is heavily skewed towards  low powered compacts using single speed transmission. Read our EV transmission report to know more about it.

 

In passenger vehicle segment, Europe is leading and also driving global market growth for E-axles.BMW is the market leader in EV(BEV+ PHEV)s in Europe, it had 18% share of ~390,000 EVs sold in Europe in 2018.Audi is trying to catch-up fast and announced in Feb 2019 that it will start offering PHEV variants of its high-end models like A6,A7, A8 and Q5.

 

The onset of WLTP in Europe in Sep`18 will provide a much needed boost to EV manufacturing in the region and simultaneously drive PHEV adoption. The rollback of CAFÉ 2025 by Trump administration in US has stalled EV and related infrastructure growth and is one of the major challenge to the e-axle market.

 

In US,Tesla had 53% share of electrified vehicles in US in 2018.It uses its in-house developed induction motors for propulsion in all models .Tesla Model 3 is the best-selling passenger car globally, in terms of revenue, generating ~$8 Billion in US alone.

 

COMMERCIAL VEHICLE SEGMENT

In the commercial vehicle segment, Nikola will generate bulk of the demand for CV e-axle in US as it has 9,000 pre-orders for its long haul, fuel cell electric truck by 2025.Also, we see stronger demand from LCV segment. As city planning authorities tighten the noose on urban CO2 emissions, the LCVs used for last mile distribution will be electrified first. Dana is already working with Workhorse to create last mile delivery EV platform and supplying Dongfeng in China with e-axles. We expect many more collaborations in coming years.

 

COMPETITIVE LANDSCAPE
SupplierWeight(Kg)Max Power output(kW)Start of ProductionPassenger vehiclesCommercial vehicle
Nidec831502019YesNo
Dana3051302018NoYes
GKN54652019YesNo
Continental 751502018YesNo
Bosch30-18050-3002019YesYes
Schaeffler751502017YesNo
ZF1131502018YesNo

 

There are about 15 Tier-1 suppliers active in E-axle market. GKN is the undisputed market leader in this space but its leadership is likely to be challenged in coming years. Its products have featured on more than 15 EV models across the globe. In addition, it has a very diverse portfolio including single-speed, co-axial and multi-speed e-axles which allows it to cater to diverse requirements and gives it an edge over others.

 

Bosch has a more versatile and scalable product, which can cater to passenger as well as commercial vehicles but its market reach has been limited so far. There are also some new entrants like Sona Group, Hyllion and AxleTech.

 

The biggest challenge for E-axle suppliers is to contain costs, as E-axles are the second most expensive component in an EV after battery. Low scale of EVs has not allowed suppliers to achieve economies of scale. Further, the OEM margins on BEVs and PHEVs are already low, as the market is driven more by regulation than consumer demand.

 

COMPANIES PROFILED
  1. Robert Bosch GmbH
  2. GKN Driveline
  3. Linamar Corporation
  4. AVL List GmbH
  5. AxleTech
  6. ZF Friedrichshafen
  7. Dana Incorporated
  8. Continental AG
  9. Nidec Corporation
  10. Hyllion
  11. Schaeffler Group
  12. Magna International
  13. American Axle Manufacturing
  14. The Sona Group

 

THIS REPORT WILL ANSWER FOLLOWING QUESTIONS
  1. The market size (volume-Units and value-$M) of global E-axle Market in 2019-2025 and every year in between?
  2. Market size and forecast segmented by application, geography, power output and EV type
  3. Market dynamics(trends, risks and opportunities), by region
  4. Present and forecasted sub-components margin
  5. Market share of suppliers in BEV and PHEV segment respectively
  6. About new companies active in this market
  7. Cost breakup of E-axle
  8. Latest trends in E-axle market
  9. Disruptive innovations in E-axle market
  10. Breakdown of new Electric concept vehicles by powertrain
  11. Future e-axle evolution roadmap
  12. E-Axle manufacturing in US, Europe and China
  13. OEM-supplier relationship in E-axle market
  14. 5 key predictions for next 5 years
  15. Unmet needs and opportunity for new suppliers
1Market Segmentation3
2Executive Summary5-6
3Introduction7-10
4Insights from Industry stakeholders11
5Key criteria for E-axle adoption by OEMs12-13
6E-Axle manufacturing in US, Europe and China14-15
7Breakdown of new EV concept vehicles by powertrain16-17
8Upcoming EV platforms utilizing E-axle18-19
9Disruptive innovations in E-axle market20-21
10About new companies in E-axle market22-23
11Market Size ,Dynamics and Forecast By Vehicle type29-38
12Market Size ,Dynamics and Forecast By Vehicle type29-38
13Market Size ,Dynamics and Forecast By EV type39-48
14Market Size ,Dynamics and Forecast By Geography49-65
15Market Size ,Dynamics and Forecast By Power output66-78
16Competitive Landscape79-82
17OEM-supplier relationship in e-axle market27-28
18Company Profiles80-95
19Unmet needs and Market Opportunity for suppliers96-97
20Conclusion98-99
215 Key predictions100
22Appendix101
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