According to a
recent market research report published by Transparency Market
Research, the global rear axle commodity market is estimated to
expand at a CAGR of 3.7% during the period between 2014 and 2020. The
report, titled “Rear
Axle Commodity Market - Global Industry Analysis, Size,
Share, Growth, Trends and Forecast 2014 - 2020,” projects the
global rear axle commodity market to be worth US$45.9 bn by 2020. The
overall market was valued at US$35.8 bn in 2013.
Automotive axles
play a pivotal role in the operation of a vehicle as they bear the
entire weight of the vehicle and cargo. While live axles provide the
torque to the wheels, rear axles ensure the function of driving,
steering, and braking of the vehicles. Stringent emission norms
implemented by governments across the globe, coupled with the growing
demand for fuel-efficient vehicles, are driving the growth of the
global rear axle commodity market. The need for safety, comfort, and
security in vehicles is further augmenting the growth of the market.
However, the report
points out that economic slowdown will affect the automotive sector,
thereby negatively impacting the global rear axle commodity market.
The overall market has a huge opportunity to grow in the emerging
markets during the forecast horizon. The report also analyzes the
impact of Porter’s five forces on the growth of the market.
On the basis of
product type, the report segments the global rear axle commodity
market into dead axle, drive axle, and lift axle. The drive axle
segment accounts for a majority share in the market. In terms of
application, the report categorizes the market into MUVs, heavy
vehicles, luxury vehicles, economy vehicles, executive vehicles,
SUVs, and railways. Currently, the economy vehicles segment dominates
the overall market.
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The report studies
the rear axle commodity market across four key regions: Asia Pacific,
Europe, North America, and Rest of the World. Currently, Europe is
the leading region in the market. However, during the forecast
horizon, the rear axle commodity market in Europe and North America
will not witness considerable growth as the automotive industry in
these regions has reached maturity. Asia Pacific exhibits lucrative
growth opportunities for the market owing to the rapid growth of the
automotive sector across the emerging nations in the region. In fact,
Asia Pacific is anticipated to be the fastest growing region in the
market in the coming years.
Describing the
competitive landscape, the report profiles some of the key players in
the global rear axle commodity market such as GNA Axles Ltd., ROC
Spicer Ltd., American Axle & Manufacturing Holdings Inc.,
Meritor, Inc., Talbros Engineering Limited, and Daimler Trucks North
America LLC. The report provides detailed information about the key
players including their business strategies, financial overview, and
recent developments. The key players are focusing on manufacturing
light-weight rear axle components with higher axle ratios and low
power losses to gain competitive edge in the market.
About Us :
Transparency Market
Research (TMR) is a global market intelligence company providing
business information reports and services. The company’s exclusive
blend of quantitative forecasting and trend analysis provides
forward-looking insight for thousands of decision makers. TMR’s
experienced team of analysts, researchers, and consultants use
proprietary data sources and various tools and techniques to gather
and analyze information.
TMR’s data
repository is continuously updated and revised by a team of research
experts so that it always reflects the latest trends and information.
With extensive research and analysis capabilities, Transparency
Market Research employs rigorous primary and secondary research
techniques to develop distinctive data sets and research material for
business reports.
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