Automotive Axle Market Pegged to Expand Robustly During 2019-2022Posted by Rishikesh Kurane on September 21st, 2019 Axle is the fundamental shaft of a gear assembly or rotating wheel, used universally in the motor vehicle sector and the industries associated with the rotating mechanisms. The automotive axle is the essential shaft between two wheels, which assists the wheel rotate in a synchronized manner. Surging growth of the automotive industries is likely to be the key driving factor for the automotive axle market. Automotive axle is a vital aspect of wheeled vehicle assembly. The expanding demand for electric and hybrid automobiles coupled with a rise in off-road cars is another significant factor propelling the market. Implementation of front-wheel drive vehicles and growth of advanced materials blend the axle and transmission into a single unit. This contributes largely towards the progression of the global automotive axle market. Rapid incorporation of hi-tech and smart gearing techniques is fueling the demand for better handling and steering control which will eventually improve the vehicle performance. Heavy trucking is witnessing consistent growth which in turn is amplifying the need for propeller shaft, clutch, rear axle, and transmission. Furthermore, the increasing investments in research and development activities within the automotive axle industry is substantially boosting the potential of the market. For instance, Meritor Inc. just announced the launch of a new axle assembly facility worth USD 36.5 million at Automotive Axles, which is a joint venture with Kalyani Group in association with a hi-tech research and development center in Mysore, India. This new assembly facility propels Meritor India’s capacity of production by 25%, allowing it to serve the consumers in the defense sectors, off-highway, and commercial vehicle sectors in a better way. However, the extensive segmentation of the market along with the soaring cost of the components are likely to restrict the market growth to a notable extent. Get Free Sample of Automotive Axle Market @ https://www.marketresearchfuture.com/sample_request/2343 Market Segmentation Market Research Future has conducted exhaustive study on the global automotive axle market. As per the reports published by them, the market has been broadly segmented based on material, type, regions, and propeller shaft type. Based on material, the market has been segmented into carbon fiber and alloy. Based on type, the market has been segmented into the rear axle and front axle. According to the regions, the market has been segmented into Europe, Asia Pacific, North America, and Middle East and Africa. Based on propeller shaft type, the market has been segmented into multi-piece and single. Regional Analysis As per the reports published by Market Research Future, the global automotive axle market can be geographically segmented into Asia Pacific, North America, Europe, and Middle East and Africa. Asia Pacific holds the largest share in the global automotive axle market owing to its developing economic conditions coupled with the augmenting demand for automotive. China and India are the two most lucrative markets in the APAC region. These two economies represent promising automotive industries. Additionally, these countries have huge pool of low-cost labor along with the scope for incorporating technological advancements. Asia Pacific is also witnessing a healthy competition in the automotive sector. Besides, the region has recently introduced speed trains for better commute of its population. All these factors together are spurting the growth of automotive axle market in the APAC region. Europe holds the second largest share of the automotive axle market. The market is dominated by the large automotive industry of U.K., Italy, and Germany. The North America market is predominantly led by the U.S. and is stimulated by heavy vehicle segment. Key Players The global automotive axle market is dominated by key players such as American Axle & Manufacturing, Inc. (U.S.), ZF Friedrichshafen AG (Germany), Showa Corporation (Japan), Meritor, Inc. (U.S.), ELBE Gelenkwellen-Service GmbH(Germany), and GKN Plc (U.K.). Get Complete Report Details of Automotive Axle Market @ https://www.marketresearchfuture.com/reports/automotive-axle-market-2343 Table of Contents
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