Automotive Axle Market Demand, Industry Size, Top Players, Opportunities, Sales, Revenue And Forecast To 2022

Automotive Axle Market Scenario

Automotive axle being an integral part of wheeled vehicle assembly, the growth of automotive industry directly is a direct driver for the demand for automotive axle market. Growing demand for hybrid and electric vehicles coupled with an increase in off-road vehicles is another driver of the market. Developments of advanced materials and adoption of front-wheel drive automobiles, which combine the transmission and axle into a single unit, is a stable driver of the market.

The growth of heavy trucking is driving the growth of lift axle, which can be mechanically raised or lowered to increase the weight capacity and to distribute the weight over more wheels.

Key Vendors

The dominant player operating in the global automotive axle market 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.

Segmentation

To generate a better assessment of the market potential, the global automotive axle market is segmented into type, material, propeller shaft type and regions.

Based on the type, the market is bisected into the front axle and rear axle.

Based on material, the market is segmented into alloy, and carbon fiber.

Based on propeller shaft type, the market is segmented into the single, and multi-piece.

Based on regions, the market is segregated into North America, Europe, Asia Pacific, Middle East and Africa.

Regional Analysis

The Asia Pacific accounts for the most significant share of the market owing to massive automotive sales. Both India and China have a large automotive industry, which is driving the Asia Pacific region market. Factors such as availability of low-cost labor and innovations in engineering rising vehicle production and development of globally competitive automotive manufacturing hub are driving the demand for automotive Axle. The development of speed trains is another driver of the market.

Europe accounts for the second largest market share led by the large automotive industry of Germany, U.K., and Italy. The enormous speed trains network of Europe is another driver of the market. The North America region is dominated by the U.S. and is driven by heavy vehicle segment.

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