Industry Background:
Automotive Tandem Axle market has high growth prospects due to its improving drivability & operational performance that applications in cargo and passenger vehicles. Automotive Tandem Axle are excellent for heavy loads handling and reduce maintenance & operating costs. Mostly its used in heavy haul, mobile cranes, truck, trailers and others. The Automotive Tandem Axle market is rapidly increasing in global regions due to its better fuel economy and performance owning design over traditional single axle in developed countries. Major companies such as Dana introduced a Spicer D172 Series Heavy-Duty Tandem Axle in their product portfolio in United States consumer markets that beneficial in severe service for customers in the manufactured goods arena.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | American Axle & Manufacturing, Inc. (United States), Meritor, Inc. (United States), DANA Incorporated (United States), ZF Friedrichshafen AG (Germany), Hyundai Wia Corporation (South Korea), PRESS KOGYO (Japan), HANDE Axle (China), BENTELER (Germany), Sichuan Jian'an (China) and KOFCO (South Korea) |
This growth is primarily driven by Increase in Preference of Consumers toward SUVs and MUVs. and Growing Environmental Pollution Propelled the Sale of Tandem Axle..
Globally, a noticeable market trend is evident Collaboration and Tie Up Of Leading Players
The Auto Parts & Equipment sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as American Axle & Manufacturing, Inc. (United States), Meritor, Inc. (United States), DANA Incorporated (United States), ZF Friedrichshafen AG (Germany), Hyundai Wia Corporation (South Korea), PRESS KOGYO (Japan), HANDE Axle (China), BENTELER (Germany), Sichuan Jian'an (China) and KOFCO (South Korea), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In April 2019, American Axle & Manufacturing Holdings, Inc. completely acquired Metaldyne Performance Group Inc. (MPG) for improved tandem axle products. This acquisition strengthens the business diversification and innovative solutions for customers.
In Oct 2018, Meritor Launched a 14X HE linehaul tandem drive axle, which is beneficial for heavy-duty applications such as lube management system & fuel-efficient bearings and strengthens the business portfolio.
Influencing Trend:
Collaboration and Tie Up Of Leading Players and Value-Oriented Consumers
Market Growth Drivers:
Increase in Preference of Consumers toward SUVs and MUVs. and Growing Environmental Pollution Propelled the Sale of Tandem Axle.
Challenges:
Lack of Skilled Professional for Installation. and Post Maintenance Required for Tandem Axle.
Restraints:
High Cost Associated with Automotive Tandem Axle. and Lack of Research and Development in the Field of Axle Market.
Opportunities:
Rise in Preference for Electric Vehicle in Asia-Pacific Region Coupled with Rise in Tandem Axle in Automobile Sectors. and Adoption of Aluminium Propeller Shaft Boost the Axle Market.
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Automotive Tandem Axle Market
- Analysis about New Entrants in Automotive Tandem Axle Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Automotive Tandem Axle Study Sheds Light on
The Automotive Tandem Axle Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Automotive Tandem Axle industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Automotive Tandem Axle industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.