Automotive Axle - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Automotive Axle Market is accounted for $58.54 billion in 2018 and is expected to reach $77.05 billion by 2027 growing at a CAGR of 3.1% during the forecast period. Some of the key factors propelling the market growth are increasing acceptance of electric vehicles and increasing demand for automotives. However, high cost of components is the restraining factor for the growth of the market.
Automotive axle is an important component of vehicles which aids in better control of steering and handling. These axles serve different functions which are related to its position.
By application, the rear segment is expected to grow at a significant market share during the forecast period which can be attributed to the rising demand for long trailers. On the basis of geography, Asia Pacific is anticipated to hold considerable market share during the forecast period due to the presence of key market players as well as the supportive government initiatives.
Some of the key players in Automotive Axle Market include Dana Incorporated, American Axle & Manufacturing Inc, Meritor Inc, GNA Group, Daimler AG, Melrose Industries PLC, Talbros Engineering Limited, and ZF Friedrichshafen AG.
Automotive Propeller Shafts Covered:
• Multi Piece
• Single Piece
• Carbon Fiber
Vehicle Types Covered:
• Light Commercial Vehicle (LCV)
• Passenger Car
• Heavy Commercial Vehicle (HCV)
• Semi Floating Axle
• Full Floating Axle
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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