Global Automotive Axles Market 2017-2021

This market research report identifies GKN, American Axle& Manufacturing, and HYUNDAI WIA as the key vendors in the global automotive axles market. This report also presents a detailed analysis of the market by application (passenger cars, LCVs, and M&HCVs) and by geography (the Americas, APAC, and Europe).

Overview of the global automotive axles market

Technavio’s market research report predicts that the global automotive axles market will grow at a CAGR of nearly 5% during the forecast period. The rising sales of passenger cars are one of the primary drivers for market growth. Since all the passenger cars are fitted with axles, the sales of the passenger cars directly influence the sales of automotive axles. It has been observed that sales of cars across the globe increased by almost 3% during 2015 and the SUVs and crossovers contributed to the majority of the sales in the passenger cars segment in China and Europe during 2016. Moreover, the rising preference for electric vehicles in regions such as Europe and the Americas and countries such as China due to the rising environmental pollution also propel the sales of e-axles. Incentives such as tax benefits and free parking space provided by the governments of various countries encourage customers to purchase electric vehicles. This will in turn, increase passenger car sales which will subsequently drive the growth of the market.

One of the latest trends that will gain traction in the global automotive axles market is the increasing demand for e-axles.  The manufacturers are concentrating on increasing the fuel economy due to strict emission norms and the rising popularity of fuel-efficient vehicles. This will increase the demand for fuel-efficient electric vehicles in the next few years, which will in turn, increase the demand for e-axles. The e-axles in plug-in hybrid and battery electric vehicles offer better load distribution that enhances fuel efficiency. One of the major manufacturers GKN has already introduced an e-axle all-wheel drive (AWD) technology on a global platform with BMW that is likely to equip their C-series vehicles with the GKN electric axle drive (e-Axle) technology.

Competitive analysis and key vendors

The key vendors in the global automotive axles market are focusing on enhancing their customer base and increasing their investments in R&D activities. The market competition is likely to grow higher due to the advancements in technology, innovative products such as trailer axles and strict government regulations. Moreover, the OEMs are likely to get into long-term partnerships with the vendors as the quality of the materials and designs differ from each vendor in the trailer axles market.

Key vendors in the market are:

• GKN
• American Axle& Manufacturing
• HYUNDAI WIA

Other prominent vendors include CARDONE, Dorman Products, PowerTrain Industries, and Pro Comp.

Segmentation by application and analysis of the automotive axles market

• Passenger cars
• LCVs
• M&HCVs

During 2016, the passenger cars segment dominated the global automotive axles market and is expected to continue its dominance over the next four years. The increased sales of the passenger cars in the regions such as APAC and the Americas due to higher social acceptance, a decrease in unemployment, low-interest rates, and a decline in fuel prices, will be the major factor driving the growth of the car axle market.

Geographical segmentation and analysis of the automotive axles market

• Americas
• APAC
• Europe

In terms of geography, APAC led the global automotive axles market during 2016 and is foreseen to continue the domination during the forecast period. The main contributor to the growth of the market in this region is the increasing number of first-time car buyers which leads to the rise in sales of passenger cars.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global automotive axles market?
• What are the key market trends impacting the growth of the global automotive axles market?
• What are the challenges to market growth?
• Who are the key vendors in the global automotive axles market?
• What are the market opportunities and threats faced by the vendors in the global automotive axles market?
• Trending factors influencing the market shares of the Americas, APAC, and Europe.
• What are the key outcomes of the five forces analysis of the global automotive axles market?

Technavio also offers customization on reports based on specific client requirement.

The rising vehicle production, innovations in engineering focusing towards fuel efficiency and sustainability, and growing adoption of AWD vehicles are some of the factors which are anticipated to influence the growth of the global automotive axles market. This upcoming industry research report is an integral part of the automotive portfolio and offers profound insights into sectors like automotive electronics and automotive manufacturing. Moreover, to enable clients to achieve a competitive edge over other market players, Technavio also provides exclusive information on the uncertain customer preferences and the factors, which will drive and curb the growth of the vendors in the automotive industry.

To accurately estimate the automotive industry’s growth prospects, our market research specialists follow a combination of quantitative and qualitative research techniques and also conduct a substantial analysis of various parameters, including technological advancements and the demand for different products and services across the globe. This upcoming research report for the global automotive axles market for the period 2017-2021 will also help clients to strategize new plans and offers information derived from reliable sources such as producers, suppliers, and stakeholders. Technavio also provides tailored reports based on clients’ requests to help them establish their presence in the market.

This upcoming industry research report on the global automotive axles market considers the growth of similar market such as two-wheeler spark plugs, which is expected to grow at a CAGR of above 6% by 2021. The upcoming industry research report also identifies the drivers, trends, and the problems currently experienced by the automotive industry and also presents insights into wheels and tires and powertrain segments.