Automotive Rear Axle market is set to register substantial growth owing to increased sales of two and four wheeler vehicles worldwide. Rear axle is basically a component of powertrain that helps in transmitting power from engine to wheels. Sometimes, it is also called as driving axle.
There are a range of players operational in the segment with high level of fragmentation. Most of the rear axle manufacturers are based close to production centers. As such, China, Korea, India and Japan holds the highest number of vendors. These vendors ranges from small scale to large scale companies. Technological advancement in the field of automotive and advent of electric vehicles is expected to stir the overall demand for automotive rear axle sales worldwide.
As per the estimates, over 90 million cars were sold in 2017. This is expected to further increase with rise in disposable income and changing consumer perception. Also, increased construction activities will propel the deployment of heavy weight machineries that are equipped with rear axles. Thus, it will drive the overall sales of driving axles worldwide. Rear axle deployment is largely driven by types of vehicles and as such, customized products are created to meet the automotive industry demand.
Global Automotive Rear Axle Market Size and Forecast: Regional Analysis
Asia Pacific dominated the global revenue with over 39% market share in 2017. This is expected to further rise with increased sales of cars and heavy vehicles in the region. Asia Pacific is registering an impressive growth with China and India witnessing over 7% GDP growth. Much of these growth is coming from industrial sectors including automotive productions and sales. Favorable government policies such as Make in China and Make in India along with relaxation in foreign direct investment (FDI) will spur the production capacity in the region. Furthermore, such industry driven initiatives is expected to create good ecosystem for foreign companies – thereby making it significantly consolidated. The region will create high incremental opportunity for automotive industry players including OEM and aftermarket suppliers in automotive rear axle industry.
Western Europe is the second most lucrative region for the industry players. While the region is certainly at maturity scale, higher emphasis on technological advancement will create niche opportunity for companies. Pricing level differentiation will be the key focus of industry players in the region. As per the estimates, German, UK and France collectively accounted for over 68% of regional share in 2017.
Latin America and Middle East accounted for meagre share in 2017. However, Mexico, Brazil and South Africa will continue to create industry revenue opportunity for vendors in the region.
Global Automotive Rear Axle Market Size and Forecast: Competition Landscape
The industry is substantially fragmented. Some key players are Guru Nanak Auto Enterprises Ltd., Zf Chassis Systems Tuscaloosa LLC, Automotive Axles Limited, American Axle & Manufacturing Inc., and Seohan Auto Usa Corporation.
Automotive Rear Axle Market Industry Segmentation
By Product Type:
- Fully Float Rear Axle Shafts
- Semi Float
- Hub Reduction
By Axle Design:
By Vehicle Type:
- Two Wheeler
- Three Wheeler
- Four Wheeler
- Light Weight Vehicles
- Heavy Weight Vehicles
What Will You Discover in the Report?
- An in-depth analysis of the Automotive Rear Axle market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
- How the Automotive Rear Axle market sales is expected to grow throughout the forecast period.
- How geopolitical policies and technological changes will affect the sales in near future
- Where the stakeholders should invest to generate higher profit margins
- How consumers (end-users) will reflect to the Automotive Rear Axle industry during the forecast period
- Who are the industry leaders and what are the key initiatives taken by them for long term growth
Who will benefit from the Report?
- Industry Suppliers
- Industry Manufacturers
- Consultants and Analysts
- Industry Specialists
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