What is Automotive Axles Market?
An axle is a central shaft used for rotating the wheels or gears. It provides power to the wheels from the engines and bears the weight of the vehicle. There are three types of axles, namely rear, front, and stub. The automotive axle is used in Passenger and commercial vehicles for smooth noiseless working. Improving technology and providing fuel efficiency will increase the growth of the automotive axle market.
Highlights from Automotive Axles Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | American Axle & Manufacturing (United States), Automotive Axles Limited (India), GKN plc (United Kingdom), Hyundai Wia (South Korea), Cardone Industries Inc. (United States), Dorman Products Inc. (United States), ZF Chassis Systems Tuscaloosa (Germany) and ROC Spicer (Taiwan) |
Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Automotive Axles market throughout the forecasted period.
American Axle & Manufacturing (United States), Automotive Axles Limited (India), GKN plc (United Kingdom), Hyundai Wia (South Korea), Cardone Industries Inc. (United States), Dorman Products Inc. (United States), ZF Chassis Systems Tuscaloosa (Germany) and ROC Spicer (Taiwan) are some of the key players profiled in the study. Automotive Axles Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Passenger Vehicle, Commercial Vehicle and Off-Road Vehicles |
Type | Rear Axles, Front Axle and Stub Axle |
Rear Axle | Semi-Floating Axle,Full-Floating Axle,Three quarter Floating Axle |
Front Axle | Live Front Axle,Dead Front Axle |
Shaft Type | Single,Multi |
Material | Alloy,Carbon Fiber |
Stub Axle | Elliot,Reverse Elliot,Lamoine,Reversed Lamoine |
On the basis of geography, the market of Automotive Axles has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Production and use of Rear Axle
Market Growth Drivers:
Rising Production of Automotive and Manufacturing Industry across the Globe and Growing Preferences of people towards MUVs and SUVs
Challenges:
Stringent regulation regarding the Fuel Emission in the Automotive Industry
Restraints:
Price Fluctuations in Raw Material Components used in Automotive Production and Difficulty in Installing and Maintaining the Axle due to its Heavy Weight
Opportunities:
Innovation in Technology used in Production of Automotive Parts and Improving Fuel Efficiency, Providing Lightweight product and maintaining Sustainability
Key Target Audience
Automotive Axles Manufacturers, International Traders of Axles, Axle Distributors and Suppliers, Financial Institutes and Venture Capital, Research and Development Institutes and Others
In May 2023, American Axle & Manufacturing Holdings, Inc., a leading global Tier 1 automotive supplier of drivetrain and metal forming technology, awarded a new contract to supply electric beam (e-Beam) axles for future electric vehicle programs. announced it did. With Stellantis, the future program is expected to start production later in the decade and will feature front and rear e-Beam axles that include AAM's integrated 3-in-1 e-Drive technology.