The automotive Axle market is anticipated to witness the growing market due to changing preference towards automated transmission system as well as technological advancement coupled with electrical vehicle. Factors such as better steering and handling control, flexible as well as cost effective nature are some of the factors driving the market of automotive axle market. Growing vehicle demand as well as engineering advancement for improving performance of vehicle are some of the factors which drives the demand for the market Moreover, manufacture’s focus on developed systems as well as innovations such as electrification in car are major market drivers for the growth of automotive axle. Automotive axle market is growing in Asia pacific region with china and India expected to be the most promising markets. Moreover, heavy investments as well as focus towards fuel efficiency helps market to grow. However, high cost of components is a major challenge for automotive axle market.
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Key Players of Automotive Axle Market:
- ZF Friedrichshafen AG (Germany)
- American Axle & Manufacturing, Inc. (U.S.)
- Meritor, Inc. (U.S.)
- Showa Corporation (Japan)
- GKN Plc (U.K.)
- ELBE Gelenkwellen-Service GmbH(Germany)
Market Research Future Analysis:
Asia pacific is leading the market of automotive Axle. With increasing vehicle production in countries such as India and China as well as manufacturers focus on increasing production capacity, demand for automotive Axle is anticipated to grow significantly. Growing purchasing power, low penetration of automobiles, and infrastructure development in emerging nations has resulted in an increase in demand for personal transportation and commercial vehicles. Increasing operational performance, improving drivability and ensuring safe transport of cargo and passengers is the one of the top priority of automobile manufacturers. Additionally, increasing need for fuel-efficient vehicles along with light-weight automotive parts and the increase in the production of vehicles are the two factors driving the growth of the market. Europe and North America is referred as mature market for the automotive Axle market. Whereas Europe holds the largest market share in rear axle commodity market followed by Asia Pacific.
1. Executive Summary
2. Research Methodology
2.1. Scope of the study
2.1.2. Research Objective
2.2. Research Process
2.2.1. Primary Research
2.2.2. Secondary Research
2.3. Market size Estimation
2.4. Forecast Model
3. Market Dynamics
3.1. Market Drivers
3.2. Market Inhibitors
3.3. Supply/Value Chain Analysis or Market Ecosystem
3.4. Porter’s Five Forces Analysis
4. Market, by Type
4.2. Front axle
4.3. Rear axle
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