Automotive Axle Market 2018
Automotive Axle Market Share, Size, Trends, And Business Opportunity Analysis Report 2018 include historic data, with forecast data to 2022. Automotive Axle Market report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2022
Global Automotive Axle Market, by Type (front axle, rear axle), By Material (alloy, and carbon fiber), By Propeller Shaft Type (single, and multi piece) – Forecast 2016-2022.
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An axle is a central shaft of a rotating wheel or gear assembly, used ubiquitously in automotive and industries with rotating mechanisms. The automotive axle is the central shaft between two wheels, which helps the wheel rotate in an aligned way.
Growth Of Automotive Industries Is The Prime Driver Of Market Demand
Automotive axle being an integral part of wheeled vehicle assembly, the growth of automotive industry directly is a direct driver for the demand for automotive axle market. Growing demand for hybrid and electric vehicles coupled with an increase in off-road vehicles is another driver of the market. Developments of advanced materials and adoption of front-wheel drive automobiles, which combine the transmission and axle into a single unit, is a stable driver of the market.
Advancement Of Technology Is A Strong Driver For Adoption Of Advanced Systems
Integration of smart and advanced gearing technology is resulting in faster market adoption owing to better steering and handling control and ultimately the performance of the vehicle. The growth of heavy trucking is resulting in a focus on improving power and drivetrain systems encompassing components such as clutch, transmission, and propeller shaft and rear axle. The growth of heavy trucking is driving the growth of lift axle, which can be mechanically raised or lowered to increase the weight capacity and to distribute the weight over more wheels.
High Cost Is A Restraint On The Market
Increased component cost and growing market fragmentation is a barrier for the market. The high durability of materials used for axle manufacture also results in replacement a rare opportunity for the market.
The Asia Pacific accounts for the most significant share of the market owing to massive automotive sales. Both India and China have a large automotive industry, which is driving the Asia Pacific region market. Factors such as availability of low-cost labor and innovations in engineering rising vehicle production and development of globally competitive automotive manufacturing hub are driving the demand for automotive Axle. The development of speed trains is another driver of the market.
Europe accounts for the second largest market share led by the large automotive industry of Germany, U.K., and Italy. The enormous speed trains network of Europe is another driver of the market. The North America region is dominated by the U.S. and is driven by heavy vehicle segment.
The dominant player operating in the market of global automotive axle are ZF Friedrichshafen AG (Germany), American Axle & Manufacturing, Inc. (U.S.), Meritor, Inc. (U.S.), Showa Corporation (Japan), GKN Plc (U.K.) and ELBE Gelenkwellen-Service GmbH(Germany) and others.
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To generate a better assessment of the market potential, the global automotive axle market is segmented into type, material, propeller shaft type and regions.
Based on the type, the market is bisected into the front axle and rear axle.
Based on material, the market is segmented into alloy, and carbon fiber.
Based on propeller shaft type, the market is segmented into the single, and multi-piece.
Based on regions, the market is segregated into North America, Europe, Asia Pacific, Middle East and Africa.
April 2017 – American Axle acquired Metaldyne for USD 3.3 billion. The deal is projected to generate a revenue of 7 billion.
March 2018 – Melrose Industries took over GKN with a hostile bid of USD 11 billion after a three-month battle. GKN unsuccessfully tried to avert the proposal with its £ 4.4bn planned merger of its Driveline automotive business with US rival Dana.
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