The global automotive axle market is expected to reach the market value of around US$ 68 Bn by 2027 and is anticipated to grow at a CAGR of around 3.2% in terms of revenue during the forecast period 2020 – 2027.

The axle is set of the spinning wheel, in which the revolving wheels spin with their parts. Therefore, for a revolving wheel an axle is a central shaft. A completely floating, semi floating, front and rear axles may also be considered as the integral part of a car. Only those vehicles with rear wheel drive can use the actual axle feature. The front suspension supports the vehicle's front wheels. The front axle also increases the weight, aids in fast driving, absorbs the shocks generated by tampering paths, and absorbs unexpected braking torques.

The report provides analysis of global Automotive Axle market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.

Market Dynamics

The automobile industry's growth specifically reflects rising competition for the automobile axle market. Automotive axle is an important component of a wheel that can power and manage effective steering. The axle performs various steering and transmission purposes according to its location and operation. Improved adoption and incorporation of smart and innovative devices technologies in hybrid and electric vehicles are the main drivers of the automotive axles industry. Increasing demand for automobiles as well as technical advances to boost vehicle efficiency are some of the other factors that drive industry demand. In addition, the focus will be on improving power and drive systems that includes components such as transmission, clutch, propeller shaft and rear axle, which drive market growth. However, higher parts prices and excess weight for the car are a deterrent to the market.

Regional Stance

Asia Pacific held major market share in 2019 and projected to govern the market amid the projected time period in the global automotive axle industry due to the majority of car purchases in the region and electrifying that boosts the demand. In developing economies, such as China and India, the growth of automotive manufacturing industries drives the automotive axle industry. Factors that drive the automobile axles market are low cost manual supply and technological advances based on fuel economy and safety, further increasing vehicle production rates and a globally competitive car manufacturing center also boost the market growth. Europe has the highest rear-axle product market share, which is followed by Asia-Pacific because of factors such as government-specific strict emission requirements and the substantial rise in demand for light-weight rear-axles in cars in the world.

Report coverage

The market research study on “Automotive Axle Market (Automotive Axle Market By Type: Rear, Front; Automotive Axle Market By Material: Carbon Fiber, Alloy; Automotive Axle Market By Propeller Shaft Type: Multi Piece, Single; Automotive Axle Market By End Use: Commercial Vehicle, Passenger Cars) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers a detailed insights on the global Automotive Axle market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report covers global Automotive Axle market size, and segment markets by type, material, propeller shaft type, end use, and geography along with the information on companies operating in the market. The Automotive Axle market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.  

The global Automotive Axle market is segmented as below:

Market Segmentation

Automotive Axle Market By Type

• Rear
• Front

Automotive Axle Market By Material

• Carbon Fiber
• Alloy

Automotive Axle Market By Propeller Shaft Type

• Multi Piece
• Single

Automotive Axle Market By End Use

• Commercial Vehicle
• Passenger Cars

Automotive Axle Market By Geography

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa

Key Players and Market Situation

Participants include major global players such Dana Holding Corporation, American axle and manufacturing holdings Inc., Delphi Group, Hyundai Wia Corporation, Hitachi, Kalyani Group, and Others.

Increased demand for AWD and FWD, and increased popularity for electric and self-contained cars are some key contributors to the significant growth of auto axles manufacturers. In addition, increased demand for safer and convenient automotive functions increased the demand for advanced automotive axles technologically.

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