Global Automotive Axles Market 2024-2028
The automotive axles market is forecasted to grow by USD 23541.9 mn during 2023-2028, accelerating at a CAGR of 5.89% during the forecast period. The report on the automotive axles market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing demand for commercial vehicles, growing adoption of EVs, and high growth volume for premium vehicle segment.
Technavio's automotive axles market is segmented as below:
By Type
- Drive axle
- Dead axle
- Lifting axle
By Vehicle Type
- Passenger cars
- SUVs
- Light commercial vehicles
- Heavy commercial vehicles
- Others
By Geographical Landscape
- North America
- APAC
- Europe
- South America
- Middle East and Africa
This study identifies the increase in popularity of e-axle system as one of the prime reasons driving the automotive axles market growth during the next few years. Also, development of intelligent and advanced automotive axle and growing focus to increase efficiency will lead to sizable demand in the market.
The report on the automotive axles market covers the following areas:
- Automotive axles market sizing
- Automotive axles market forecast
- Automotive axles market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive axles market vendors that include American Axle and Manufacturing Holdings Inc., BorgWarner Inc., Cardone Industries Inc., Carraro SpA, Cummins Inc., Dana Inc., Dorman Products Inc., GESTAMP AUTOMOCION SA, GNA Axles Ltd., Hirta Industry Co. Ltd., Hyundai Motor Group, KOREA FLANGE Co. Ltd., Magna International Inc., Melrose Industries PLC, Mercedes Benz Group AG, Press Kogyo Co. Ltd., Robert Bosch GmbH, SAF HOLLAND SE, Talbros Engineering Ltd., and ZF Friedrichshafen AG. Also, the automotive axles market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. IT presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.