The global Axle in Automotive market is a prevalent one as this is considered to be an integral part of the wheeled vehicle, which helps for better steering and handling control. The market is expanding at a much faster rate, which in no time, will reach a high CAGR in the forecast period 2016-2022, reveals Market Research Future (MRFR). The growth of the automotive industry directly relates to the increasing demand for Axle in Automotive market owing to the integration of smart and advanced gearing technology. Such technological advantages of Axle in Automotive characterize its continued penetration.
Market Key Players
The vital player operating in the market of global Axle in Automotive are ZF Friedrichshafen AG (Germany), American Axle & Manufacturing, Inc. (U.S.), Meritor, Inc. (U.S.), Showa Corporation (Japan), GKN Plc (U.K.) and ELBE Gelenkwellen-Service GmbH(Germany) and others.
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Factors Driving the Market
Depending upon the application axle functions differently in steering and transmission, hence, making the market more prominent for the consumers. Along with it, increasing acceptance of hybrid and electric vehicles coupled with the integration of smart and advanced gearing technology acts as a significant driving force for the global Axle in Automotive market.
On the same time, the advancements in engineering for improving the performance of vehicles with increased demands of it are the most propelling yet essential factors for the market to grow in recent times. Moreover, the increased focus on improving power and drivetrain system encompassing components such as a clutch, transmission, and propeller shaft is also making the global Axle in Automotive market to expand in substantial ways.
On the flip side, the emergence of new vendors is functioning well in the Axle in Automotive market and are challenging other well-established players, as they grapple with high consistency, technological advancements, and innovations. Due to this, the Axle in Automotive market is hampered with its growth.
Market Segmentation of Axle in Automotive Market
The global Axle in Automotive market is segmented by type, by material, by propeller shaft type, and by region.
By mode of the type, the market is segmented into the front axle and read axle.]
By mode of material, the market is segmented into alloy, and carbon fiber.
By mode of propeller shaft type, the market is segmented into the single, and multi-piece.
Axle in Automotive Market: Regional Analysis
The global Axle in Automotive market is segmented into regions like North America, Europe, Asia Pacific, Middle East, and Africa.
The Asia Pacific accounts for the most significant share of the market owing to the impressive automotive sales. Countries such as India and China have the sizeable automotive industry which is the critical reason for the market to grasp a strong position. Also, factors such as availability of low-cost labor and innovations in engineering have risen the production and automotive manufacturing hub
On the other hand, Europe accounts for the second largest market share led by the large automotive industry mainly set up in Germany, the U.K., and Italy. The vast speed trains network in Europe is another driver of the market.
March 2018 – Melrose Industries took over GKN with a hostile bid of USD 11 billion after a three-month battle. GKN unsuccessfully tried to avert the proposal with its £ 4.4bn planned merger of its Driveline automotive business with US rival Dana.
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Table of Contents
- Executive Summary
- Research Methodology
- Market Dynamics
- Market, By Type
- Market, By Material
- Market, By Propeller Shaft Type
- Regional Market Analysis
- Competition Analysis
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