Global Rear Axle Market Introduction:
“The global Rear Axle Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Rear axle is a prime component in automobile and it is used in rear-wheel-drive vehicles. It lies between the differential gear and driving wheels to transmit power from differential gear to driving wheels. The rear axle plays a major role in the power transmission of the vehicle and carries the majority of the weight of the automobile.
Increasing production of passenger vehicles in developing economies is a major factor expected to drive revenue growth of global rear axle market over the forecast period. Moreover, growing demand for all drive vehicles in developed economies is another factor expected to drive revenue growth of target market over the next 10 years.
Increasing demand for safer and fuel-efficient vehicles in developing and developed economies is expected to create opportunities to axel manufacturers over the next 10 years.
However, the slowdown of economy of countries in Europe and Japan is expected to restrain revenue growth of target market over the forecast period.
On the basis of type, the dead segment is expected to account for major revenue share in the global rear axle market. Increasing demand for heavy trucks and trailers, construction equipment, and agricultural equipment is a major factor expected to drive revenue growth of this segment.
On the basis of application, the commercial vehicles segment is expected to grow at a moderate rate over the forecast period. Increasing demand for commercial vehicles such as lightweight commercial vehicles, heavy commercial vehicles, buses, and SUVs owing to growing transport industry is major factor expected to drive revenue growth of this segment over the forecast period.
North America market is estimated to account for major revenue share in the global target market and is expected to maintain its dominance over the forecast period. The growth of the rear axle market in the region is attributed to the increasing demand for all-wheel-drive vehicles. Presence of a large number of automotive manufacturers in countries in the region is expected to support revenue growth of rear axle market in North America.
North America accounts for the major revenue share contribution of the global rear axle market, followed by markets in Europe, Asia Pacific, Latin America, and the Middle East & Africa respectively. The rear axle market in the Asia Pacific is expected to grow at higher growth rate over the forecast period. Growing automotive industry in developing economies such as China, India, and Indonesia is expected to drive revenue growth of Asia Pacific rear axle market.
Market segmentation and key players operating in the global rear axle market:
- Passenger Vehicles
- Commercial Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- American Axle & Manufacturing, Inc.
- Dana Limited
- Daimler Trucks North America LLC
- GKN plc
- GNA Axles Ltd.
- Meritor Inc.
- Hema Endustri A.S.
- ROC Spicer Ltd.
- ZF Friedrichshafen AG
- Talbros Engineering Limited
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