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E-axles for Commercial Vehicle Market is Potential
Publishing Date:2021-09-17     Reviews:     Font Size:【 Large Medium Small

E-axles for commercial vehicle is an electro-mechanical propulsion system contained in an axle structure housing an electric motor, the power electronics and some form of gearing/differential. The global E-axles for commercial vehicle market is valued at 166.85 million USD in 2020 and is expected to reach 402.7 million USD by the end of 2027, growing at a CAGR (Compounded Annual Growth Rate) of 13.73% between 2021 and 2027.

One of the primary growth drivers of the E-axles for commercial vehicle market is the global trend for electric vehicles in response to Carbon-Neutral. China leads the way in electric vehicles by providing large subsidiaries, which promotes the development of E-axles for commercial vehicle market.

E-axles for commercial vehicle are widely used in city buses for transit, school, etc., light duty truck, as well as mid and heavy-duty trucks. Bus application is the mainstream, which accounts for 68% market share, but it is expected to see fastest growth in heavy and mid duty truck market in the next few years.

The key players are Dana, BYD, ZF, with several players in concept stage, or near mass production, so this industry is concentrated.

Related Report: Global E-axles for Commercial Vehicle Industry Outlook 2021: Overview, Opportunities, Key Companies and Forecast to 2027

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