Rear Axle Market 2018 Key Players Dana Daimler Trucks, ROC Spicer, North America LLC, Holding Corporation, GNA Axles, Meritor, Tabors Engineering

Market Overview:-

Rear Axle Market is influenced by global automotive industry growth which is undergoing a great transformation owing to increase in demand for automobiles in emerging economies. Rising fuel prices and stringent government regulations concerning fuel economy significantly compelling automotive industry for innovation in technology. Growing demand of various improved automobile components for better fuel efficiency and minimum emission in vehicles will drive the growth of rear axle market in forecasted time frame.

Drive, Dead and lift are the major types of rear axle components used in automobiles. The drive is responsible for transmission of power from the differential assembly to the rear wheels. Dead is used in heavy trucks and trailers, farm equipment and certain heavy construction machinery for load bearing purpose. Lift is a component which is widely used in some dump trucks and trailers which need to be mechanically raised or lowered. It is primarily configured to increase the weight capacity or to distribute the weight of cargo over more wheels. Increasing transport structure across the globe leading to a surge in connectivity amongst numerous countries, thereby influencing the manufacturing of trucks and trailers with lightweight components will drive the growth of rear axle market in forecasted time frame.

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Top Key Players:-

The key players of global Rear Axle Market are Meritor, Dana Daimler Trucks, ROC Spicer, North America LLC, Holding Corporation, GNA Axles and Tabors Engineering.

Regional Segmentations:-

North American automobile industry is witnessing rising adoption of All Wheel Drive (AWD) vehicles and manufacturers are investing in this major opportunity. Most of the vehicle growth production will come from Japanese, Europe, And South Korean automakers. The industry is focusing on meeting the criteria of fuel economy standards and forcing service providers to adjust to consumer demands for products that make vehicles lighter, safer, and more fuel-efficient this will further propel rear axle market demand in region.

Europe is anticipated to offer a huge platform for growth of the rear axle market in forecast period owing to stringent Euro VI emission norms. In 2015, the automobile industry had generated a trade surplus of USD 105 billion from region and the motor vehicles account for more than USD 421 billion in tax contributions. European companies have invested heavily in complex technology to produce clean heavy-duty vehicles which meet the emission standards. The demand for light commercial vehicle segment will rise significantly which will lead to growth of rear axle market in forecasted time frame.

Asia pacific is expected to witness a significant growth, owing to the high production capacity of rear axle types in the emerging countries such as Japan, Korea, and China. In last few years, the region dominated the market in terms of light vehicle production. China is one of the largest automobile makers worldwide in terms of production. Increasing buying power of consumers and infrastructure development in metropolitan cities have resulted in an increase in demand for commercial vehicles and personal transportation.

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Rear axle is one of the major component for automobile industry and powers the fuel economy in vehicles. The automobile makers are now shifting their focus on the design of undercarriage components to reduce overall weight and emission. Therefore, efforts are being made to provide lightweight yet strong components as they are vital for load bearing, steering, and driving a vehicle to undergo wear and tear under tough conditions. It provides ease of handling and safety by reducing overall weight of the automobiles. Increasing demand for passenger safety and comfort will further propel the growth of rear axle market.

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