Global Commercial Vehicle Axles Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Commercial Vehicle Axles Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

An axle is a central shaft for a rotating wheel or gear. On wheeled vehicles, the axle may be fixed to the wheels, rotating with them, or fixed to the vehicle, with the wheels rotating around the axle.

Market Overview:

The latest research study on the global Commercial Vehicle Axles market finds that the global Commercial Vehicle Axles market reached a value of USD 50857.43 million in 2022. It’s expected that the market will achieve USD 67591.8 million by 2028, exhibiting a CAGR of 4.86% during the forecast period.

Emerging countries and region

For example, India, South America, have large populations in the world, with the development of local enterprises, development of economic, increase of Per capita disposable income, the recovery of the automotive industry, thus, the demand for Commercial Vehicle Axles has also expanded, the market of Commercial Vehicle Axles has great market potential in those Regions. In addition, more and more suppliers are shifting their production bases to the Asia-Pacific, South America region because the low labor cost and these regions have a good industrial base. This is also one of the factors driving market growth in the region.

Upgrade product performance

With the improvement of the technology of various suppliers, the production technology of Commercial Vehicle Axles is also constantly improving. With the impact of the global environment on the automobile production industry, the emission of the entire vehicle is limited, and the body is required to be lighter. This also affects the Commercial Vehicle Axles market. More and more suppliers are beginning to use different materials to make axles. To reduce the weight of the axle. Develop more affordable, higher-performance products. It will be one of the opportunities for suppliers to gain market share in this market.

Development of downstream industry

With the expansion of the global commercial vehicle market, commercial vehicle Transportation plays an important role in industrial development and public Transportation. Over time, the growth of domestic and international trade has led to a huge demand for fast commercial Transport services. In addition, with the advent of e-commerce and logistics, commercial Transportation has become the most important mode of Transportation in the world. This has led to a significant increase in demand for commercial vehicles and their adjacent markets. This has contributed to the growth of the commercial vehicle axle market.

Region Overview:

Geographically, North America held the largest market share – 32.74% in 2022.

Company Overview:

Dana Incorporated is one of the major players operating in the Commercial Vehicle Axles market, holding a share of 5.46% in 2023.

Dana Incorporated

Meritor, Inc. designs, develops, manufactures, markets, distributes, sells, services, and supports integrated systems, modules, and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation, and industrial sectors.

American Axle & Manufacturing Holdings, Inc.

American Axle & Manufacturing, Inc. designs, engineers, manufactures, and supplies driveline and drivetrain systems and related components for light trucks, SUVs, passenger cars, crossover vehicles, and commercial vehicles.

Segmentation Overview:

As for product types, the Drive Axles segment held the largest market share in 2022.

Drive Axles

The drive axle, which is connected to the driveshaft. The driveshaft is basically just a rod that extends up into the vehicle’s transmission and connects with the engine. The engine itself helps turn the axle, then. The drive shaft is a split shaft with a differential and universal joint between the two half shafts. Each half shaft is connected to the wheel by using a constant speed (CV) joint that allows the wheel assembly to move freely in the vertical direction and to pivot during cornering.

Non-drive Axles

The Non-drive Axles, also known as the dead axle, is not connected to the engine at all. It only rotates when the vehicle is moving, caused by the drive shaft. Many types of trucks and trailers are loaded with Non-drive Axles.

Application Overview:

The market's largest segment by application is the segment Freight Transport, with a market share of 67.92% in 2022.

Key Companies in the global Commercial Vehicle Axles market covered in Chapter 3:

BPW Group
ZF Friedrichshafen AG
Hendrickson
Guangdong Fuwa Engineering Group Co.,Ltd
Dana Incorporated
Shaanxi Hande Axle Co., Ltd
Anhui Ankai Futian Shuguang Axle Co.,Ltd
Press Kogyo Co., Ltd.
AxleTech International, Inc.
Meritor, Inc.
American Axle & Manufacturing Holdings, Inc.
Rába Axle Ltd.
SAF-Holland
MAN SE

In Chapter 4 and Chapter 14.2, on the basis of types, the Commercial Vehicle Axles market from 2018 to 2029 is primarily split into:

Drive Axles
Non-drive Axles

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Commercial Vehicle Axles market from 2018 to 2029 covers:

Vocational
Passenger Transport
Freight Transport
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)