The global automotive axle market size is estimated to reach USD 115,444.3 million by 2025, registering a CAGR of 4.1% over the forecast period, according to a study conducted by Grand View Research, Inc. The increasing demand for luxury and hybrid vehicles, changing vehicle designs, and rising levels of disposable income are expected to drive the growth of the market. The growing demand for road freight transport, which would subsequently trigger the demand for light and heavy commercial vehicles, also bodes well for the growth of the market. The road freight transport market witnessed continuous growth over the past five successive years and grew by 4.5% between 2016 and 2017.
The demand for automotive axles relies directly on automotive production. As such, any growth in automotive production would subsequently translate into a growing demand for automotive axles. The growing use of lift axles in heavy commercial vehicles is also expected to drive the growth of the market over the forecast period.
Continued advances in technology and innovations aimed at reducing the maintenance costs of the vehicle are also anticipated to create considerable opportunities in Asia Pacific. As such, the Asia Pacific regional market is projected to exhibit a CAGR of 4.6% from 2019 to 2025. Meanwhile, the North America regional market is anticipated to register a considerable CAGR over the forecast period owing to the increasing production of light and heavy commercial vehicles.
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The market can be described as a moderately consolidated market. There are several players in the market either dominating on regional levels or having a global presence. Some of the key players operating in the market include American Axle & Manufacturing Inc.; Dana Incorporated; Daimler AG (Daimler Trucks North America LLC); GNA Group (GNA Axles Ltd.); Melrose Industries PLC (GKN PLC); Meritor Inc.; Talbros Engineering Limited; and ZF Friedrichshafen AG; among others.
Further key findings from the study suggest:
- The lift type segment is projected to register a CAGR of 5.5% from 2019 to 2025. The growing preference for installing lift axles in heavy commercial vehicles to reduced operational costs is expected to drive the segment growth
- The rear axle segment accounted for a dominant share of the automotive axle market in 2018. However, its share is estimated to decline over the forecast period due to the increasing demand for all-wheel-drive and 4-wheel-drive cars
- The passenger car segment held the largest market share of 79.2% in terms of volume in 2018. Its market share is estimated to increase over the forecast period owing to the growing demand for hybrid and luxury vehicles featuring advanced technologies
- The Asia Pacific regional market accounted for 60.4% of the global market in 2018 owing to the increasing automotive production in emerging countries, such as India and China
- Prominent market players include ZF Friedrichshafen AG; Daimler AG; Dana Incorporated; and American Axle & Manufacturing Inc.; among others.
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Key Topics Covered
Chapter 1 Methodology and Scope
1.1 Information Procurement
1.2 Purchased Database
1.2.1 Gvr’s Internal Database
1.3 Research Methodology
1.3.1 Model Mapping Methodology
1.4 Research Scope And Assumptions
1.5 List Of Data Sources
1.5.1 List Of Primary Sources
1.5.2 List Of Secondary Sources
1.6 List Of Abbreviations
Chapter 2 Automotive Axle Market: Executive Summary
2.1 Market Snapshot
2.1.1 Global Automotive Axle Market
2.1.2 Global Automotive Axle Market, By Vehicle Type, 2015 – 2025
Chapter 3 Automotive Axle Market: Industry Outlook
3.1 Market Scope
3.2 Market Definitions
3.3 Market Penetration & Growth Prospect Mapping
3.4 Market Variable Analysis
3.4.1 Market Driver Analysis
184.108.40.206 Increasing Penetration Of Lift Axle In Heavy Commercial Vehicles
220.127.116.11 Increasing Vehicle Production
18.104.22.168 Growing Demand For Long Trailers To Minimize Transport Cost
3.4.2 Market Restraint Analysis
22.214.171.124 Growing Electric Vehicle Production Augmenting The Demand For E-Axles
126.96.36.199 Fluctuating Raw Material Price Affect The Manufacturing Price Of Components
3.5 Business Environment Analysis Tool
3.5.1 Automotive Axle Market: Pest Analysis
3.5.2 Automotive Axle Market: Porters Analysis
3.6 Key Company Analysis
3.6.1 Global Automotive Axle Market Ranking, 2018
3.6.2 North America Automotive Axle Market Ranking, 2018
3.6.3 Europe Automotive Axle Market Ranking, 2018
3.6.4 Asia Pacific Automotive Axle Market Ranking, 2018
3.7 Who Supplies Whom, 2015-2020
3.7.3 Asean & India
3.7.4 China & Japan
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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