Automotive Rear Axle Market Steady Growth to be Witnessed by 2025

The rear axle is a prime component in the powertrain of an automotive vehicle and it is used in rear-wheel drive vehicles. It lies between the driving wheels and differential gear to transmit power from the differential gear to the driving wheels. The rear axle carries majority of the weight of the automotive vehicle and plays a major role in the power transmission from the engine to the driving wheel. It is also a prime source of power loss in the driveline and hence improvements in the rear axle may have a significant impact on the fuel efficiency of the vehicle. Deployment of a rear axle in an automobile depends on the gross weight of the vehicle. For instance, large heavy-duty vehicles weighing over 8,500 lb. are deployed with 2 rear axles. Rear axles are also used to add an extra wheel in an automobile for large weight hauling applications. As each tire in an automobile has a maximum load capacity (rating), thus vehicles used for hauling heavy weights may require an extra wheel. This extra wheel is added with the installation of an additional rear axle.

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Automotive Rear Axle Market: Drivers and Challenges

One of the major factors driving the growth of the rear axle market is increasing global automotive production. Global automotive production in 2014 improved 2.5% in comparison to 2013 and increased another 1% in 2015 to achieve 90.7 million units. Further, the increasing need for high capacity lifting applications is fueling demand for the rear axle market as the equipment is primarily installed in heavy duty vehicles. Moreover, logistics operations of heavy weight equipment such as electrical machines and new vehicles is expected to increase the adoption of rear axles in the near future.

The production process for a rear axle is dependent on the variant of rear axle and specific vehicle type. Hence, each type of variant demands individual planning efforts. Catering to customer demand and simultaneously maintaining competitive pricing is a key challenge faced by manufacturers.

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OEMs forming strategic alliances with manufacturing equipment providers to cope with the demand from vehicle manufacturers is a major trend identified in the global automotive rear axle market.

Automotive Rear Axle Market: Key Developments

Majority of developments in the automotive rear axle market are focused towards providing light weight product solutions, primarily to assist vehicle manufacturers to comply with latest fuel efficiency standards.

Automotive Rear Axle Market: Segmentation

The global automotive rear axle market can segmented by design type, vehicle type and geography.

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Automotive Rear Axle Market: Overview

The global automotive rear axle market is expected to register a single-digit growth rate during the forecast period. In terms of market revenue and volume, Asia Pacific is expected to remain dominant during the forecast period since this region accounts for the largest share in terms of global automobile production. Western Europe and North America are also expected to register significant growth in the global automotive rear axle market, as automobile production is expected to grow in these regions as well.

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