Automotive Axle System Market: Overview
An axle is fixed with the rotating wheel, rotating with them or their parts with the rotating wheels around them. Hence an axle is a central shaft for a rotating wheel. An axle can also be classified as the integral part of the vehicle as full floating, semi floating, front and rear axle. The real axle function can be used only on those vehicles which have rear wheel drive. The front axle is supporting the front wheels of the vehicle. The front axle also supports the weight, helps in effortless use in steering, absorbing the shocks due to patchy roads and also absorbing the sudden torque due to braking. An axle system transfers the torque by differential method to wheels and engine differentiates the torque to vehicle. The type of axle in the vehicle depends upon the function of the vehicle and also the position where the axle is being fitted in the vehicle. Commercial vehicles such as trucks, heavy trucks or buses may have two or more than two live axles fitted with the vehicles depending upon the type of application and type of vehicle. Likely passenger cars will have one live axle and one dead axle in the vehicle.
Automotive Axle System Market: Drivers & Restraints
The increasing demand of automotive axle system is high due to the high demand of vehicles in the market because of ever increasing population. This is the major factor driving the market but apart from this the aftermarket demand of axles in the ever growing and emerging economies is also a factor in the growth of automotive axle system market. However the factor restraining the Automotive Axle system market is the increased cost of the vehicle due to the extra component as axle fitted to it. Another factor restraining the growth of automotive axle system market is the additional weight of the vehicle due to the fitting of axle system in the vehicle. When the vehicle weight is becoming a major concern due to the axle system then the demanding trend comes is of the light weighted axle system. During the forecast years the increasing adoption of electric vehicles will bring a significant change in the system design and utilization of the materials in the automotive axle system market. With this the critical focus will be over the power trains which are becoming a major trend for the automobile industry.
Automotive Axle System Market: Market Segmentation
The Automotive Axle System Market is segmented into three parts based on the vehicle type, sales channel, axle type and geography.
Based on vehicle type Automotive Axle System Market is segmented into:
Based on sales channel type Automotive Axle System Market is segmented into:
Based on axle type Automotive Axle System Market is segmented into:
Automotive Axle System Market: Regional Outlook
Regarding geography, the Automotive Axle System Market has been categorized into seven key regions including North America, Western Europe, Eastern Europe, APEJ, Japan, Latin America, and the Middle East & Africa. Automotive Axle System Market is expected to register healthy CAGR during the forecast period due to high demand of axle system because of high demand of vehicles due to increasing population. In terms of regions, North America accounts for significant share for Automotive Axle System Market, owing to the high growth and demand for automobile industry in the region as compared to other developed regions. In terms of developing region of Asia-Pacific, the growth of the Automotive Axle System Market is significantly high and with comparatively high CAGR in forecast period owed to factors such as such as rapid economic development, globalization and increasing demand of the Automotive Axle System Market.
Automotive Axle System Market: Few Players
Few players identified in Automotive Axle System Market are:-