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Automotive Electric Drive Axle Market to Expand with Signi몭cant CAGR during 2025 Date: February 24, 2022 Author: Tech News
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The threat of global warming is increasingly gaining recognition as something that must be addressed and consequently, a number of countries have come together to pledge for measures that are ecofriendly. With the automotive industry identi ed as among the ones that is causing a prominent chunk of pollution, the segments that are in accordance to a greener future are gaining push by these governments. The analysts of a fresh business and commerce study by Transparency Market Research (TMR) have observed that the automotive electric drive axle market is gaining traction in these changing times, projecting the demand to expand at a striking CAGR of 36.84% during the forecast period of 2017 to 2025. It has been estimated that the opportunities in the global automotive electric drive axle market will translate into a revenue of US$6.35 bn by the end of 2025. This valuation may not be overwhelming but from an evaluated worth of US$0.4 bn in 2016, the market for automotive electric drive axle is expected to excel rapidly in the near future, opening revenue avenues that are niche in certain ways.