Rear Axle Commodity Market Outlook 2024 : Expected Market Growth Rate, Major Driver And Segments | Meritor Inc., GNA Axles Limited, Talbros Engineering Limited, ROC Spicer Limited

"The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Rear Axle Commodity Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The rear axle commodity market size has grown steadily in recent years. It will grow from $55.32 billion in 2023 to $56.89 billion in 2024 at a compound annual growth rate (CAGR) of 2.8%. The growth in the historic period can be attributed to automotive production growth, consumer demand for suvs and trucks, fuel efficiency demands, evolving vehicle performance standards..

The rear axle commodity market size is expected to see steady growth in the next few years. It will grow to $64.65 billion in 2028 at a compound annual growth rate (CAGR) of 3.2%. The growth in the forecast period can be attributed to shift towards electric vehicles (evs), demand for lightweight components, integration of advanced safety features, autonomous and connected vehicle trends, global expansion of the commercial vehicle market.. Major trends in the forecast period include globalization of automotive manufacturing, integration of electric propulsion systems, continued growth in the suv and crossover segment, development of all-wheel drive (awd) and four-wheel drive (4wd) systems, focus on advanced safety features..

Get Free Sample Of This Report-
https://www.thebusinessresearchcompany.com/sample.aspx?id=9637&type=smp

Market Segmentation:
The rear axle commodity market covered in this report is segmented -

1) By Type: Drive Axle, Dead Axle, Lift Axle
2) By Material: Alloy, Carbon Fiber
3) By Application: Heavy Vehicles, Luxury Vehicles, Executive Vehicles, Economy Vehicles, Sport Utility Vehicles (SUVs), Multi Utility Vehicles (MUVs), Railways

Major Driver - Surging Demand For Passenger Vehicles Ignites Growth In The Rear Axle Commodity Market
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.

Competitive Landscape:
Major companies operating in the rear axle commodity market report are Meritor Inc., GNA Axles Limited, Talbros Engineering Limited, ROC Spicer Limited, Daimler Trucks LLC, Automotive Axles Limited, Mitchell Differential Inc., U.S. Axle Inc., Heavy Duty Transaxle Inc., Currie Enterprises, FPW Axles Ltd., IM Axle Specialists, Axle Dynamics LLC, BPW Limited, American Axle & Manufacturing Holdings Inc., Denso Corporation, Hanon Systems Corporation, Sanden Holdings Corporation, Mitsubishi Heavy Industries Ltd., MAHLE GmbH, Valeo S.A., Keihin Corporation, Calsonic Kansei Corporation, Samvardhana Motherson Group, Subros Limited, SMAC Auto Air Inc., TransAir Manufacturing Inc., Eberspacher Group GmbH & Co. KG, Marelli Corporation, ZF Friedrichshafen AG, Dana Incorporated, Eaton Corporation, GKN Automotive Limited, Magna International Inc., Showa Corporation, JTEKT Corporation, NSK Ltd., Schaeffler AG, NTN Corporation, Aisin Seiki Co. Ltd., BorgWarner Inc. .

Get Access To The Full Market Report -
https://www.thebusinessresearchcompany.com/report/rear-axle-commodity-global-market-report

Top Trend - Technological Advancements Drives Evolution In The Rear Axle Commodity Market
Technological advancements are a key trend gaining popularity in the rear axle commodity market. Major companies operating in the rear axle commodity market are introducing innovative products to sustain their position in the market. For instance, in March 2021, Magna International Inc., a Canada-based manufacturer of automotive parts, launched eBeam Technology. eBeam is a drop-in replacement for traditional beam axles, which are the structural components that support the rear wheels of a vehicle, designed to electrify pickup trucks and light commercial vehicles. eBeam is a drop-in replacement for traditional beam axles, which means that it is a relatively inexpensive way to electrify vehicles.

The Table Of Content For The Market Report 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 Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.

This release was published on openPR.