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Torsion Axle Market Segmented By Vehicle Type such as Passenger Cars Torsion Axle, Light Commercial Vehicles Torsion Axle, Heavy Commercial Vehicles Torsion Axle
Torsion axle is a kind of utility trailer axle used for providing suspension in vehicles. It is directly linked to the frame of the trailer in order to offer improved suspension. A torsion axle primarily consists of a rubber cartridge, spindle arm, and busing for support.
This cartridge provides better angular compliance, dampening effect, and smoother ride. Torsion axles are installed in almost all the vehicles, including passenger cars and commercial vehicles, and they are eliminating the need for leaf springs in axles.
In the current scenario, both spring axle and torsion axles are being used aggressively, however, in the gradual time periods, the torsion axle is predicted to replace demand of spring axle owing to better technical properties.
For instance, the rubber construction of the torsion axle delivers better resistance to vibrations thus increasing the durability and life expectancy of the axle. Thus, the global torsion axle market is estimated to have healthy growth during the forecast period.
In the last fiscal year, the commercial vehicles sector has developed to a sound extent than it was a decade ago, which in turn, has fueled the demand for trailer and axle products. The suspension system is an elementary part of any vehicle that plays a crucial role in a safe and comfortable driving experience.
The global torsion axle market is expected to follow the trend of suspension systems and the automotive industry, henceforth, the said market is estimated to have an average year over year and profitable growth over the forecast period.
Primarily, the changing logistics landscape, i.e. emerging e-commerce industry and rising dependence of export and import on commercial vehicles, is stipulated to turn up the unit sales of commercial vehicles thereby increasing the segment share in the global torsion axle market over the projected period.
Moreover, new market entrants are entering the transport industry with better business models such as electrification of commercial vehicles thereby increasing the volume sales of vehicles hence driving the demand for torsion axle. Additionally, the increasing concern toward fuel economy and zero emission is expected to contribute towards the growth of the torsion axle market significantly.
Conversely, the lack of implementation of standard regulations regarding suspension systems and the growing procurement of counterfeit products in the aftermarket, especially in developing and under developed countries, to curtail the growth of the torsion axle market.
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China being the spotlight of the automotive industry in both the OEMs and aftermarket sales channel is expected to hold a lion’s share in the global torsion axle market. The country is forecasted to create substantial opportunities for the commercial vehicle segment.
The torsion axle market in the Americas and Europe is predominantly driven by its huge commercial vehicle PARC. China, India, Brazil, and Russia are expected to be the emerging countries in the torsion axle market.
The global torsion axle market is estimated to be significantly fragmented owing to the huge presence of local manufacturers. Some of the major participants operating in the global torsion axle market include the following players:
The Torsion Axle research report presents a comprehensive assessment of the Torsion Axle market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The Torsion Axle research report provides analysis and information according to market segments, such as geographies, application, and industry.
The global report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The Torsion Axle report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.