Automotive Axle Market to Derive Gains from Rising Demand for Light-weight Passe

Posted by Rushikesh Pise on March 26th, 2020

The study conducted on the global automotive axle market by Fortune Business Insights is titled, “Automotive Axle Market Size, Share & Industry Analysis, By Axle Type (Drive, Dead, Lift), By Application (Front, Rear), By Vehicle (Passenger Vehicles, Light Commercial Vehicles, and Heavy Commercial Vehicles) and Regional Forecast, 2019-2025.” 

As per this study, the market is categorized on the basis of various factors such as application, axle type, and vehicle type and geography. Among vehicle type, the market is expected to be dominated by the passenger car segment. This is attributable to the rise in production and sales of passenger cars worldwide. The advent of all-wheel drive transmission in light commercial vehicles and passenger cars is prognosticated to boost the automation axle market during the forecast period.

The increasing need to reduce the weight of automotive vehicles is promoting the global automotive axle market, predicts Fortune Business Insights in their recent report. Axles are used for driving, braking, steering in vehicles and are an important aspect of vehicle use. The launch of AxTrax AVE Portal Axle on 30^th October 2018 by ZF Friedrichshafen AG has further intensified market competition for automobile axles. The AxTrax AVE Portal Axle is built to serve hybrid buses, electric buses, and trolleybuses for coping up with the regulations laid down by governments on harmful emissions. This advanced axle has reduced the weight of the vehicle by 500kg because of its powerful and compact design. Such innovations are likely to bode well for the global Automotive Axle Market.
On the other hand, heavy commercial vehicles are also anticipated to witness significant growth in the years to follow, owing to the rising demand for lift axle in heavy commercial vehicles.

The report on Automotive Axle Market offers an in-depth analysis of various factors promoting and demoting the growth of the market during the mentioned forecast period. The information provided in the report is gathered from primary and secondary research methods and is available for sale on the company website.