Market Overview
According to the report, the global Commercial Vehicle Axles market was valued at approximately USD 44,554 million in 2019 and is expected to generate revenue of around USD 52,501 million by 2026, growing at a CAGR of roughly 2.38% from 2019 and 2026.
An axle is a central shaft for a rotating wheel or gear. On wheeled vehicles, the axle may be fixed to the wheels, rotating with them, or fixed to the vehicle, with the wheels rotating around the axle.
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Key Players
Key players in the Commercial Vehicle Axles market cover AAM, Meritor, Paccar, VOLVO, DANA, PRESS KOGYO, SAF-HOLLAND, BPW Group, MAN, ZF, Korea Flange, RABA, IJT Technology Holdings, AxleTech International, Dongfeng DANA, Shaanxi HanDe, FAW Heavy, CNHTC, Zoomlion, Guangxi Fangsheng, SG Automotive Group, and Qingte Group.
Market Drivers
The growing demand for safety, optimum comfort, and cost advantage to consumers is anticipated to increase the adoption of the technology. Rising production of vehicles with lightweight fuel-efficient automotive parts has also significantly contributed to growth. Furthermore, the increasing development for safer and cleaner vehicles has led to the development of alternative fuel vehicles for reduced emissions. Technological developments for enhanced road safety, including vehicle-to-vehicle communication and intelligent vehicles which have the facility of collision avoidance, has surged the demand for these products.
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Forecast by Geography
Global Commercial Vehicle Axles Industry Revenue (Million USD), Market Share (%), Growth Rate (%) by Regions in 2018
|
Regions |
Revenue (Million USD) |
CAGR 2019-2026(%) |
|
|
North America · United States · Canada · Mexico |
XXXX |
29.74% |
XXXX% |
|
Europe · Germany · UK · France · Italy · Nordic Countries · Spain · Belgium · Poland · Russia · Turkey · Others |
XXXX |
26.13% |
XXXX% |
|
Asia-Pacific · China · Japan · India · South Korea · Australia and New Zealand ASEAN Countries |
XXXX |
35.84% |
XXXX% |
|
Latin America, Middle East & Africa · GCC Countries · Brazil · Nigeria · South Africa · Argentina · Others |
XXXX |
8.29% |
XXXX% |
|
Total |
XXXX |
100% |
XXXX% |
Type Segment
l Rear Beam Axles
l Front Axles
Application Segment
l Vocational
l Passenger transport
l Freight transport
l Others
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Target Audience
l Commercial Vehicle Axles manufacturers
l Distributors and resellers of Commercial Vehicle Axles
l Commercial Vehicle Axles industry associations
l Product managers, Commercial Vehicle Axles industry administrator, C-level executives of the industries
l Market Research and consulting firms
l Small and Medium-sized Enterprises (SMEs)
l Raw material suppliers of Commercial Vehicle Axles
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