The boom in the
automotive sector is the most significant factor that is propelling
the rear axle commodity market. With rising disposable incomes in
developing countries, the demand for passenger vehicles as well as
luxury vehicles has increased tremendously, thereby fuelling the
production of vehicles across the globe.
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Research Report of Rear Axle Commodity Market :
Complementing the
surge in vehicular production is the need for fuel-efficient vehicles
with lightweight auto parts. This has been brought on mainly by the
implementation of strict emission norms around the world. As a
result, there has been a rise in research activities within the rear
axle commodity market. Manufacturers and suppliers alike have been
focussing on rear axle components that are lightweight, have higher
axle ratios, and result in low power losses in adverse functioning
conditions.
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The growing demand
from customers for safe, comfortable, cost-beneficial vehicles has
boosted the rear axle commodity market. The recent global economic
slowdown and fluctuating prices of raw materials, on the other hand,
threaten to impede the growth of the global rear axle commodity
market.
Drive Axles
Dominate Rear Axle Commodity Market by Product Type, Economy Vehicles
by Application
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Release of Rear Axle Commodity Market :
The global rear axle
commodity market can be segmented on three parameters: type,
application, and region. By type, the market for rear axle commodity
is divided into dead axle, drive axle, and lift axle. A dead axle,
also referred to as the lazy axle, is free-rotating and used by
trailers, semi trailers, heavy construction machinery, farm
equipment, and trucks solely for load-bearing purposes. A drive axle
refers to one driven by the prime mover or the engine and is used in
all vehicles. A lift axle, also called a drop axle or airlift axle,
is used by trailers and dump trucks. This kind of axle can be lowered
to raise the weight capacity of the vehicle or to distribute the
weight over more wheels. When not in use, the axle can be lifted off
the ground. Among the three types, the segment of drive axles
dominated the rear axle commodity market and is projected to retain
its market position in the years to come
Browse Article of
Rear Axle Commodity Market :
Rear axle
commodities find applications in luxury vehicles, economy vehicles,
heavy vehicles, executive vehicles, multi-utility vehicles (MUV),
sports-utility vehicles (SUV), and railways. Of these, economy
vehicles dominated the rear axle commodity market.
Global outlook of
the rear axle commodity market
Geographically, the
global market is fragmented into North America, Asia Pacific, Europe,
and Rest of the World. Europe is presently the largest market for
rear axle commodity, with Asia Pacific following suit. The growing
demand for fuel-efficient passenger vehicles from emerging and
developing economies such as China, India, and Brazil is a major
boost to the rear axle commodity market. Surge in average disposable
income and purchasing power of consumers and marked improvement in
infrastructure in these regions has also fuelled the growth of the
global rear axle commodity market. The demand for personal
transportation and commercial vehicles is highest in Asia Pacific,
thereby making it the most promising regional market for rear axle
commodity. The markets in Europe and North America, on the other
hand, are on the brink of saturation due to widespread incorporation
of sophisticated automotive machinery. As a result, manufacturers
have been shifting focus towards All Wheel Drive (AWD) vehicles,
which holds immense potential for growth in these regions.
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The rear axle
commodity market is marked by the presence of global as well as
regional players. Some of the top industry participants are Meritor,
Inc., American Axle & Manufacturing Holdings, Inc., Dana Holding
Corporation, Daimler Trucks North America LLC, ZF Friedrichshafen AG,
Hyundai WIA Corporation, Gestamp, JTEKT Corporation, GKN PLC, Showa
Corporation, Talbros Engineering Limited, IFA Rotorion - Holding
GMBH, and ROC Spicer Ltd.
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