Dublin, May 22, 2024 (GLOBE NEWSWIRE) -- The "Rear Axle Market Report: Trends, Forecast and Competitive Analysis to 2030" report has been added to ResearchAndMarkets.com's offering.
The global rear axle market is expected to reach an estimated $44.6 billion by 2030 with a CAGR of 4.8% from 2024 to 2030.
The major drivers for this market are rising demand of fuel-efficient vehicles, growing popularity of off-road vehicles, and increasing demand for safety and comfort among consumers. The future of the global rear axle market looks promising with opportunities in the heavy vehicle, luxury vehicle, executive vehicle, economy vehicle, sport utility vehicle, multi utility vehicle, and railway markets.
The study includes a forecast for the global rear axle by type, application, and region.
Rear Axle Market by Type [Shipment Analysis by Value from 2018 to 2030]:
- Drive
- Dead
- Lift
Rear Axle Market by Application [Shipment Analysis by Value from 2018 to 2030]:
- Heavy Vehicles
- Luxury Vehicles
- Executive Vehicles
- Economy Vehicles
- Sport Utility Vehicles
- Multi Utility Vehicles
- Railways
- Others
Rear Axle Market by Region [Shipment Analysis by Value from 2018 to 2030]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
Rear Axle Market Insights
- Dead rear axles will remain the largest segment over the forecast period due to the growing global transportation network that improves connectivity.
- Luxury vehicle applications expected to witness the highest growth due to developments in automotive telematics and drive axle technology.
- North America will remain the largest region over the forecast period due to the increasing adoption of all wheel drive vehicles in the region.
Features of the Global Rear Axle Market
- Market Size Estimates: Rear axle market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
- Segmentation Analysis: Rear axle market size by type, application, and region in terms of value ($B).
- Regional Analysis: Rear axle market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the rear axle market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape of the rear axle market.
- Analysis of competitive intensity of the industry based on Porter's Five Forces model.
List of Rear Axle Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies rear axle companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the rear axle companies profiled in this report include:
- American Axle & Manufacturing
- Dana
- Meritor
- Daimler Trucks North America
- ROC Spicer
- Talbros Engineering
- GNA Axles
For more information about this report visit https://www.researchandmarkets.com/r/sirriz
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