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Automotive Rear Axle Market: Global Industry Analysis and Forecast 2017 - 2025
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Automotive Rear Axle Market: Drivers and Challenges
One of the major factors driving the growth of the rear axle market is increasing global automotive production. Global automotive production in 2014 improved 2.5% in comparison to 2013 and increased another 1% in 2015 to achieve 90.7 million units. Further, the increasing need for high capacity lifting applications is fueling demand for the rear axle market as the equipment is primarily installed in heavy duty vehicles. Moreover, logistics operations of heavy weight equipment such as electrical machines and new vehicles is expected to increase the adoption of rear axles in the near future.
The production process for a rear axle is dependent on the variant of rear axle and specific vehicle type. Hence, each type of variant demands individual planning efforts. Catering to customer demand and simultaneously maintaining competitive pricing is a key challenge faced by manufacturers.
OEMs forming strategic alliances with manufacturing equipment providers to cope with the demand from vehicle manufacturers is a major trend identified in the global automotive rear axle market.
Automotive Rear Axle Market: Key Developments
Majority of developments in the automotive rear axle market are focused towards providing light weight product solutions, primarily to assist vehicle manufacturers to comply with latest fuel efficiency standards.
Automotive Rear Axle Market: Segmentation
The global automotive rear axle market can segmented by design type, vehicle type and geography. Based on design type, the global automotive rear axle market can be segmented into: Semi- floating, Three- quarter floating, Full-floating.
Semi-floating type is expected to hold the largest market share as it is most commonly used in passenger vehicles and low commercial vehicles. Whereas, full-floating type is mostly preferred in heavy commercial vehicles and trucks.
The global automotive rear axle market can be segment by vehicle type as: Passenger Vehicles, Commercial Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles, SUV, Coaches & Buses, Off-Road Vehicles.
Automotive Rear Axle Market: Overview
The global automotive rear axle market is expected to register a single-digit growth rate during the forecast period. In terms of market revenue and volume, Asia Pacific is expected to remain dominant during the forecast period since this region accounts for the largest share in terms of global automobile production. Western Europe and North America are also expected to register significant growth in the global automotive rear axle market, as automobile production is expected to grow in these regions as well.
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Automotive Rear Axle Market: Key Players
Examples of some industry participants in the global automotive rear axle market are: 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.
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