Rear Axle Commodity Market Size, Share, Top Major Players, Business Strategies, Opportunities And Forecast To 2033

The new report published by The Business Research Company, titled "Rear Axle Commodity Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, 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 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%.

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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.

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 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

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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. .

Contents of the report:
1. Executive Summary
2. Rear Axle Commodity Market Report Structure
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

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