Global Automotive Rear Axle Market by design type (semi-floating, three- quarter floating and full-floating). By vehicle type (passenger vehicles, commercial vehicles and off-road vehicles). By application (heavy vehicles, luxury vehicles, executive vehicles, economy vehicle, SUV, MUV, and railways). Region-wise (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America) is expected to reach US$ 72.0Bn by 2026, at a CAGR of 5.76% during a forecast period.
An increasing need for high capacity lifting applications is fuelling demand for the global rear axle market as the equipment is primarily installed in heavy-duty vehicles. Furthermore, logistics operations of heavyweight equipment such as electrical machines and new vehicles are expected to increase the adoption of rear axles in the upcoming future.
Semi-floating segment is expected to continue the larger segment of the market during the forecast period (2018-2026).
Semi-floating axle uses a wheel hub that is directly connected to the axle shaft, which is supported by a bearing located near the wheel end of the axle tube. Basically, axle shaft in a semi-floating assembly serves two purposes. First is, it attaches to the wheel and is used to support the weight of the vehicle and its cargo. Second is, the axle shaft must transmit the rotational torque from the differential out to the wheel.
Europe accounts for the largest share of the global automotive rear axle market.
Europe is expected to capture a sizeable market share of the global automotive rear axle market. The North American rear axle market, although saturated also provides growth opportunities due to the advent of AWD vehicles. Active research on the drive train and computer control equipment lead to advance designs and acts for the market.
Key players operating in the global automotive rear axle market, American Axle & Manufacturing Inc., Seohan Auto USA Corporation, Zf Chassis Systems Tuscaloosa LLC, Automotive Axles Limited, Guru Nanak Auto Enterprises Ltd. and Hefei Aam Automotive Driveline & Chassis System Co. Ltd. xles Ltd, Meritor, Rockwell American, GNA Axles Ltd, Daimler Trucks North America and ROC Spicer Ltd.
Maximize market research, a Global market research firm with a dedicated team of specialists and data has carried out extensive research about the global automotive rear axle market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global automotive rear axle market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global automotive rear axle market positioning of competitors.
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