Automotive axles play a major role in the operation of a vehicle. The axles bear the entire weight of the vehicle, cargo and passengers and live axles perform the additional task of providing the torque to the wheels. Rear axles also ensure the function of steering, driving and braking of the vehicles. Stringent emission norms by the government and demand for fuel-efficient vehicles are driving the market of light-weight automotive components. Light-weight rear axles are designed to meet the consumer demand but the challenge for the manufacturers is to maintain its quality.
Rear axles, being the most vital component in a vehicle go through a lot of mechanical wear and tear under difficult conditions. Therefore, the quality of light-weight rear axles cannot be compromised. The rear axle manufacturers are striving to provide optimum comfort, safety and cost advantage to the consumers by their product offerings. The suppliers are focusing on light-weight rear axle components with higher axle ratios and low power losses under harsh functioning conditions. To achieve the same, the suppliers are working jointly with the automobile manufacturers to develop improved and efficient products.
The increasing need for fuel-efficient vehicles along with light-weight automotive parts and the increase in the production of vehicles are the two factors driving the growth and research in this market. The rise in the fuel prices globally have become the prime concern for the consumers and the demand for passenger vehicles is expected to rise in the coming years. It is also of utmost significance to consider the fluctuation in the price of raw materials which is affecting the profitability of the suppliers.
The several developing nations in Asia-Pacific make it the highly attractive regional market comparatively. At present, Europe holds the largest market share in rear axle commodity market followed by Asia Pacific, but the focus is expected to shift towards the Asia Pacific markets in the coming years. The markets in North America and Europe being saturated; the increasing demand for All Wheel Drive (AWD) vehicles will serve as a great opportunity for the rear axle manufacturers in the regions.
The key participants in this market are American Axle Manufacturing Inc., (U.S.), Meritor Inc., (U.S.), GNA Axles Limited (India), Talbros Engineering Limited (India), ROC Spicer Limited (Taiwan) and Daimler Trucks North America LLC (U.S.).
The report segments the rear axle commodity market by type into - drive axle, dead axle and lift axle, by application into - heavy vehicles, luxury vehicles, executive vehicles, economy vehicles, SUV, MUV and railways and by geography into - North America, Europe, Asia Pacific and Rest of the World (RoW). The revenues ($million) have also been mentioned for the above mentioned segments and sub-segments. The porter’s five force analysis and value chain analysis are also covered in the report along with qualitative data relating to the drivers, restraints and opportunities governing the global rear axle commodity market.
The report segments the rear axle commodity market as:
Rear Axle Commodity Market: By type
Rear Axle Commodity Market: By application
Rear Axle Commodity Market: By geography