Segmental Analysis
The global automotive axle market is segmented by Market Research Future (MRFR) on the basis of type, material, propeller shaft type. By type, the automotive axle market is segmented into the front axle and rear axle. On the basis of material, the automotive axle market has been segmented into alloy and carbon filter. By propeller shaft type, the automotive axle market has been segmented into single and multi-piece.
Regional Analysis
The automotive axle market has been regionally segmented by the team of analysts at Market Research Future to gain more profound insights and conclude with better analysis. The automotive axle market has been segmented into North America, Europe, Asia Pacific (APAC), and the Middle East and Africa(MEA). The Asia Pacific is prognosticated to account for the largest share of the automotive axle market attributing to massive growth in the automotive industry. Countries like India and China boast a large automotive industry, which is projected to drive notable growth within the Asia Pacific. Further, factors such as availability of low-cost labor, propelled innovations in engineering, rising vehicle production and comprehensive development of the global automotive manufacturing hub are anticipated to contribute to the growth of the automotive axle market significantly. Another significant contributor to the growth of the automotive axle market is the development of speed trains.
Key Players
The report issued by Market Research Future (MRFR) has profiled some of the prime players in the global automotive axle market including ZF Friedrichshafen AG (Germany), American Axle & Manufacturing, Inc. (U.S.), Meritor, Inc. (U.S.), Showa Corporation (Japan), GKN Plc (U.K.), and ELBE Gelenkwellen-Service GmbH (Germany).
Industry Update
March 2019: Factory-installed auxiliary axles on the Mack Granite models produced by Mack Trucks now feature standard shock absorbers to enhance riding comfort, durability, and tire life. These shock absorbers also prevent uncontrollable axle hop and increase the life of an auxiliary axle tire, hence, cutting tire costs for the consumers. Mack Trucks made the announcement at the Work Truck Show in Indianapolis.
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