An important part of a car is its axle, which transmits torque from the engine to the differential and from the differential to the wheels. Axles are parts of vehicles that either sustain weight while supporting wheel assembly or deliver torque from the split to the wheels. Both the position and the use of the axle define the type of axle. The steering and gearbox functions of an axle vary depending on its location and use. Commercial vehicles like heavy trucks, medium-duty trucks, and buses may have more than two axles depending on their purpose and role. Nonetheless, the majority of passenger cars only have one axle.

The worldwide automotive axle market was worth USD 59.18 billion in 2019, and it is expected to grow at a CAGR of 1.1 percent over the next five years. In 2019, the global automobile axle shipping totaled 195 million units. From 2020 to 2027, the market is predicted to increase due to rising global automobile production plus increasing consumer desire for hybrid plus luxury vehicles with advanced technology. Furthermore, the automotive axle market is expected to be driven by the adoption of new technologies to lower overall vehicle weight.

Automotive Axle Market Key Players

·         ZF Friedrichshafen AG (Germany)

·         American Axle & Manufacturing Inc. (U.S.)

·         Meritor Inc. (U.S.)

·         Showa Corporation (Japan)

·         GKN Plc (U.K.)

·         ELBE Gelenkwellen-Service GmbH(Germany).

Automotive Axle Market Segmentation

By Application:

●       Rear Axle

●       Front Axle

By Axle Type:

●       Drive Axle

●       Lift Axle

●       Dead Axle

By Vehicle Type:

●       Passenger Cars

●       Heavy Commercial Vehicle

●       Light Commercial Vehicles

By Geography:

●       North America

●       Asia Pacific

●       Europe

●       Middle East & Africa

●       Latin America

Automotive Axle Industry News

Consumer awareness of the need to minimize vehicular emissions and fuel consumption has resulted in a major increase in hybrid car demand. Hybrid vehicles use a combination of power sources to cut fuel consumption while also improving the driving experience. As a result, the rising need for hybrid vehicles is predicted to drive the future need for automotive axles. According to the International Council on Clean Transportation (ICCT), Hybrid systems could decrease CO2 energy consumption and emissions by around 35%.

Europe and North America have shown a strong interest in long trailers and big commercial vehicles. A long trailer often has 6 to 8 axles to disperse the vehicle's entire load evenly. Between 2020 and 2027, the rising need for long trailers is expected to raise the demand for vehicle axles.

The increasing popularity of hybrid and driverless vehicles and rising demand for AWD and FWD vehicles are among some of the primary drivers driving considerable development possibilities for automotive axle producers. Furthermore, the need for technologically improved automotive axles has increased as the desire for comfortable and safe automobile operations has increased.

Automotive Axle Market Regional Classification

The industry for automotive Axle is being facilitated by the growth of the automotive manufacturing industry in developing nations like China and India. The market in the Asia Pacific is dominated by the area's majority of vehicle sales and a shift toward electrification that benefits the area's market. Some of the drivers driving the market for automotive Axle include the availability of low-cost manuals, technical advancements concentrating on fuel sustainability and efficiency, growing automotive production levels, and an internationally competitive automotive manufacturing center.

Due to rigorous emission requirements imposed by the government and a major increase in demand for light-weight rear axles within vehicles within the area, Europe maintains the greatest market share within the rear axle commodities market, led by the Asia Pacific.

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