Global Automotive Axle Market Overview:
The automotive axle is a straight shaft that is fixed in location. It is combined with bearing or brushing used to mount rotating wheels or gears. The wheel or gear can be attached to it with a built-in gearing or bushing. A bearing or bushing fits inside the center of the wheel and allows it to rotate without affecting the axle itself. The purpose of an automotive axle is to secure the wheels or gears to specific locations relative to other gear or wheels.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Increasing Hybrid and Electric Vehicles
Market Growth Drivers:
Rising in demand of the automotive Vehicle from the developing countries like India and China and Increasing SUV Demand, and Growing Adoption of 4WD vehicles in Emerging Economies
Challenges:
Fluctuating Prices of Raw Material
Restraints:
Intense Competition among the Manufacturer of Automotive Axle
Opportunities:
Engineering Advancement and Development for Improving Performance of the Vehicles
Competitive Landscape:
Some of the key players profiled in the report are American Axle & Manufacturing, Inc. (United States), Meritor, Inc. (United States), Dana Limited (United States), ZF Friedrichshafen AG (Germany), HYUNDAI TRANSYS (South Korea), PRESS KOGYO CO., LTD. (Japan), HYUNDAI WIA CORP (South Korea), Shaanxi HanDe Axle Co., Ltd (China), BENTELER International (Germany) and Sichuan Jian'an rear axle automobile (China). The Vendors having a strong hold in the market are American Axle & Manufacturing, Inc., Meritor, Inc., Dana Limited, and ZF Friedrichshafen AG. Additionally, following companies can also be profiled that are part of our coverage like Shandong Heavy Industry Group Co., Ltd. (China), Gestamp (Spain), Magneti Marelli S.p.A (Italy), SAF-HOLLAND S.A. (United States), Automotive Axles Limited (India) and SG Automotive Group Co., Ltd. (China). Analyst at AMA Research see North American and Asian Vendors to retain maximum share of Global Automotive Axle market by 2028. Considering Market by Vehicle Type, the sub-segment i.e. Light Commercial Vehicle will boost the Automotive Axle market.
Latest Market Insights:
In August 2023, Cummins Inc. (NYSE: CMI), a global power and technology leader, acquired Meritor, a leading global supplier of drivetrain, mobility, braking, aftermarket and electric powertrain solutions for the commercial vehicle and industrial markets. Inc. was acquired. The acquisition of Meritor also adds products to Cummins' components business that provide attractive growth opportunities across the company's diverse power solutions and applications. Cummins expects to leverage its global presence to accelerate the growth of these core axle and brake businesses by servicing commercial truck, trailer, off-highway, defense, specialty and aftermarket customers worldwide.
In Jan 2022 AAM recently launched a new technology page highlighting award-winning advanced electrification technologies that help with AAM’s mission of Bringing the Future Faster.
What Can be Explored with the Automotive Axle Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Automotive Axle Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Automotive Axle
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Automotive Axle market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Automotive Axle market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Automotive Axle Manufacturers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Other.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.