Rear Axle Commodity Market SWOT Analysis, Recent Trends, Business Opportunities, Challenges, Key Segments And Prominent Players - Meritor Inc., GNA Axles Limited, Talbros Engineering Limited, ROC Spicer Limited

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Rear Axle Commodity Market Size, Growth Rate, And Forecast

The global rear axle commodity market size is expected to grow from $53.93 billion in 2022 to $55.31 billion in 2023 at a compound annual growth rate (CAGR) of 2.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The global rear axle commodity market is expected to reach $60.71 billion in 2027 at a CAGR of 2.4%.

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Rear Axle Commodity Market Drivers

The increase in demand for passenger vehicles is expected to propel the growth of the rear axle commodity market going forward. Passenger vehicles refer to motor vehicles with at least four wheels, used for the transport of passengers, and comprising no more than eight seats in addition to the driver's seat. Rear axles are responsible for transmitting power to the driving wheels. A driveshaft is connected to engine and turns the rear axle, thus rotating the passenger car's wheels. For instance, in February 2023, according to the Bureau of Labor Statistics, a US-based government agency for labor economics and statistics, the market for electric vehicles (EVs) had grown at a fast pace in the last decade. The share of electric cars in the US vehicle market grew to 4.6 percent in 2021 from 0.2 percent in past ten years, could reach 40 percent of total passenger car sales by 2030. Therefore, the increase in demand for passenger vehicles is driving the growth of the rear axle commodity market.

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Rear Axle Commodity Market Segments

• By Type: Drive Axle, Dead Axle, Lift Axle

• By Material: Alloy, Carbon Fiber

• By Application: Heavy Vehicles, Luxury Vehicles, Executive Vehicles, Economy Vehicles, Sport Utility Vehicles (SUVs), Multi Utility Vehicles (MUVs), Railways

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the rear axle commodity market.

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Rear Axle Commodity Market Key Players
Major competitors in the rear axle commodity market are Meritor Inc., GNA Axles Limited, Talbros Engineering Limited, ROC Spicer Limited, Daimler Trucks LLC, Automotive Axles Limited, Mitchell Differential Inc.

The Business Research Company's "Global Rear Axle Commodity Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.

The Table Of Content For The Rear Axle Commodity Market Include:
1. Executive Summary
2. Rear Axle Commodity Market Characteristics
3. Rear Axle Commodity Market Trends And Strategies
4. Rear Axle Commodity Market - Macro Economic Scenario
5. Rear Axle Commodity Market Size And Growth
………………
27. Rear Axle Commodity Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Rear Axle Commodity Market
29. Rear Axle Commodity Market Future Outlook and Potential Analysis
30. Appendix

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