Press release
Global Automotive Axle Market Emerging Trend, Top Companies, Industry Demand and Regional Analysis by 2028
The global automotive axle market is anticipated to grow at a significant CAGR of 4.2% during the forecast period (2022-2028). An automotive axle is a rotating shaft at the front of the vehicle that turns the wheels. The global automotive axle market is growing due to the increasing sales and production of commercial vehicles. The rising implementation of safety technologies, such as advanced driver assists system features in a commercial vehicle is directly boosting the growth of the automotive axle market. The increasing infrastructure development, the rising investment in the industry, and the surge in demand for technologically advanced trucks and vehicles are further boosting the growth of the market. The axle helps to control the front and back wheels and enhances the stability of the vehicles.The rise in the disposable income of people in emerging economic countries is also driving the growth of the market. Additionally, the increasing transportation of goods by roadways and rules and regulations for the load-carrying capacity of the vehicle is also boosting the growth of the market. Furthermore, the rising number of accident cases globally and the rising awareness to control the rate of accident cases are also driving the growth of the global automotive axle market during the forecast period.
The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new launches, to stay competitive in the market. For instance-
• In February 2022, Cummins Inc. announced its acquisition of Meritor, Inc. valuing the former at $3.5 billion.
• In January 2022, Johnson Electric Holdings Ltd. announced the launch of an all-in-one e-axle solutions pack for new energy vehicles.
• In December 2021, ASHOK LEYLAND announced the launch of the 3-axle 6×2 Dual Tyre Lift Axle truck, AVTR 3120 which is a full range of dual tire lift axles.
• In May 2021, Marelli Holdings Co., Ltd. and PUNCH Motive International announced their collaboration to develop and manufacture electric vehicle e-axles.
• In August 2019, Meritor, Inc. announced the opening of a new $36.5 million axle assembly facility at Automotive Axles started through a joint venture with the Kalyani group, along with a research and development center in Mysore, India.
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Market Coverage
• The market number available for - 2022-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Type
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Shaanxi Hande Axle Co., Ltd, BENTELER International Aktiengesellschaft, Marelli Holdings Co., Ltd., and SINOTRUK (HONG KONG) Ltd., among others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
A full report of Global Automotive Axle Market is available at:
https://orionmarketreports.com/global-automotive-axle-market/108733/
Global Automotive Axle Market Report by Segment
By Type
• Front Axle
• Rear Axle
By Application
• Passenger Vehicle
• Commercial Vehicle
Company name: Orion Market Reports
Contact person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404
About us:
Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.
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