Press release
Automotive Rear Axle Market Expand Their Businesses With New Investments by 2025
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.
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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.
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.
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Examples of some industry participants in the global automotive rear axle market are: American Axle & Manufacturing Inc., Seohan Auto Usa Corporation, Zf Chassis Systems Tuscaloosa LLC, Automotive Axles Limited, Guru Nanak Auto Enterprises Ltd. and Hefei Aam Automotive Driveline & Chassis System Co. Ltd.
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