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Truck Axle Market by Application, Type, and Geography - Forecast and Analysis 2023-2027

  • Published: Jan 2023
  • Pages: 167
  • SKU: IRTNTR44419
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The truck axle market is estimated to grow at a CAGR of 4.84% between 2022 and 2027. The size of the market is forecast to increase by USD 3,984.36 million. The growth of the market depends on serval factors, including the reduction in the production cost of axles owing to advances in manufacturing technology, the improvements in supply chain strategies, and the increase in demand for trucks.

This report extensively covers market segmentation by application (light-duty trucks, heavy-duty trucks, and medium-duty trucks), type (rigid axles, drive steer axles, and non-drive steer axles), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the size of the Truck Axle Market During the Forecast Period?

Truck Axle Market Size

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Parent Market Analysis

Technavio categorizes the global truck axle market as a part of the global automotive components and accessories market. The global automotive components and accessories market covers companies engaged in the production of parts and accessories for automobiles like passenger cars, electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

Truck Axle Market: Key Drivers, Trends, Challenges, and Customer Landscape

The improvements in supply chain strategies are notably driving the market growth, although factors such as the high manufacturing cost of medium and heavy-duty trucks may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Truck Axle Market Driver

Improving supply chain strategy is a key factor behind the growth of the global truck axle market. Consolidation through acquisition in the automotive industry is compelling automotive component manufacturers to improve their supply chain strategies, which could reduce procurement costs. The acquisition by an automotive component manufacturer positively impacts the suppliers. Automotive component manufacturers consolidate the supplier base and shift toward vendor-managed inventory to reduce inventory costs. Furthermore, truck axle manufacturers focus on supplier-vendor collaboration to improve cost-effectiveness. Automotive component manufacturers partner with key global suppliers under the cost-reduction initiative Should Cost business model.

According to this model, the supplier base and manufacturers agree on what the cost should be of the components, which helps in eliminating multiple negotiation rounds and reducing costs. In addition, the implementation of artificial intelligence and data analytics has reduced the time spent on choosing the supplier and following the stock replenishment time. These strategies in the upstream side of the supply chain would reduce the cost at all stages of the value chain, which is expected to drive the global truck axle market during the forecast period.

Significant Truck Axle Market Trend

The development of intelligent truck axles is a major trend in the growth of the global truck axle market. The demand for an increase in fuel efficiency is one of the important factors considered during the development of new technology. The truck axle, with the new final drive technology being developed by Daimler, can control oil regulation inside the unit. This can boost fuel economy by 0.5%. The integration of the powertrain by the company consists of the engine, transmission, and axle. In addition to the improvement in fuel efficiency, the intelligent truck axle reduces the maintenance cost of the truck, which ultimately reduces the total cost of ownership. The oil supplied in the new final drive axle depends on the speed, torque, and temperature requirements.

The bowl that covers the ring gear is filled with oil. The amount of oil to be maintained in the bowl is controlled by the throttle valve. This helps in minimizing the swirl of the oil in the final drive, which provides a smooth mating surface and reduces the friction loss from the gears. Furthermore, in an intelligent truck axle, there are changes in other parts, including laser-welded gear without bolt head to stir up the oil, new gear teeth geometry for reducing friction, and ferrite-optimized pinion bearing. These technological advances in truck axles will positively impact the market during the forecast period.

Major Truck Axle Market Challenge

High manufacturing costs of medium and heavy-duty trucks pose a major challenge to the growth of the global truck axle market. Medium and heavy-duty trucks generate the maximum revenue for the global truck axle market owing to the availability of multi-axle trucks. The incorporation of advanced technologies in heavy-duty trucks is increasing the manufacturing cost, which is partially being transferred to end-users. This is decreasing the sales of new trucks that are sold at high prices, which affects the growth of the medium and heavy-duty truck axle market.

Manufacturing medium- and heavy-duty trucks are capital-intensive due to the need for a high level of precision for components such as braking systems, axles, suspension systems, and hauling and steering cylinders. In addition, the prices of raw materials, such as stainless steel, hardened steel, cast iron, and other metal alloys, fluctuate constantly. The adoption of newer technologies would also increase manufacturing costs. This thing will act as a challenge for the growth of the medium and heavy-duty segment during the forecast period, which will negatively impact the market.

Key Truck Axle Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Truck Axle Market Share by Geography

Global Truck Axle Market Customer Landscape

Who are the Major Truck Axle Market Vendors?

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

autoaxle.com - The company offers truck axle such as Drive Axles MSO4. Also, under this segment, the company is predominantly engaged in the business of manufacturing and sale of automotive components.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • All Truck Parts Ltd.
  • American Axle and Manufacturing Holdings Inc.
  • BRIST Axle Systems Srl LLC
  • Cardone Industries Inc.
  • Dana Inc.
  • Hendrickson Holdings LLC
  • Kross Ltd.
  • Magna International Inc.
  • Mercedes Benz Group AG
  • Meritor Inc.
  • Press Kogyo Co. Ltd.
  • Qingte Group Co. Ltd.
  • Raba Automotive Holding Plc
  • SAF-HOLLAND SE
  • Shandong Heavy Industry Group Co. Ltd.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Truck Axle Market?

The market share growth by the light-duty trucks segment will be significant during the forecast period. Pickup trucks are more popular in the developed automotive markets in North America and Europe. In particular, in North America, pickup trucks are popular, wherein they account for a significant portion of regional automobile sales. This directly contributes to the growth of the light-duty truck segment.

Truck Axle Market Size

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The light-duty trucks segment was valued at USD 8,571.33 million in 2017 and continue to grow by 2021In many Asian countries, including China and Malaysia, automakers offer pickup trucks. The increasing demand for light-duty trucks is resulting in a rise in demand for light-duty truck axles and technological advancements in light-duty truck axles to support the improvement in fuel efficiency. QUANTUM driveline technology, offered by American Axle and Manufacturing, increases power density by 20%, along with a minimum 30% reduction in mass at the same torque capacity. In heavy-duty pick-up trucks, this technology helps in reducing the weight of the vehicle by up to 100 lb. These developments would drive the growth of the light-duty trucks segment of the market during the forecast period.

Which are the Key Regions for the Truck Axle Market?

Truck Axle Market Share by Geography

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APAC is estimated to contribute 69% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The production of truck axles in APAC is highly dependent on the production and sales of passenger cars, as well as the increase in demand for export-oriented production of automotive components. India and China have large manufacturing industries, which mainly aim at export-oriented production. Low wages, the easy availability of human resources and raw materials, and the associated transportation services, as well as the low value of the local currency, drive the manufacturing industry in these countries. This will influence them to offer more differentiated products, including truck axles, thereby driving the market in the region during the forecast period.

The COVID-19 pandemic negatively impacted the growth of the market as the demand for new trucks declined in 2020. However, developed economies in APAC, namely Japan, South Korea, and Australia, have been able to control COVID-19, which will support market growth in these countries. China has also controlled the spread of the disease and resumed manufacturing automobile and automotive components and accessories. These factors are expected to drive the demand for automotive truck component products and propel the market growth during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

  • Application Outlook (USD Million, 2017 - 2027)
    • Light-duty trucks
    • Heavy-duty trucks
    • Medium-duty trucks
  • Type Outlook (USD Million, 2017 - 2027)
    • Rigid axles
    • Drive steer axles
    • Non-drive steer axles
  • Region Outlook (USD Million, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • South America
      • Chile
      • Argentina
      • Brazil
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

Truck Axle Market Scope

Report Coverage

Details

Page number

167

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 4.84%

Market growth 2023-2027

USD 3,984.36 million

Market structure

Fragmented

YoY growth 2022-2023(%)

4.68

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 69%

Key countries

US, China, Japan, India, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

All Truck Parts Ltd., American Axle and Manufacturing Holdings Inc., Automotive Axles Ltd., BRIST Axle Systems Srl LLC, Cardone Industries Inc., Dana Inc., Hendrickson Holdings LLC, Kross Ltd., Magna International Inc., Mercedes Benz Group AG, Meritor Inc., Press Kogyo Co. Ltd., Qingte Group Co. Ltd., Raba Automotive Holding Plc, SAF-HOLLAND SE, Shandong Heavy Industry Group Co. Ltd., Sinotruk Hong Kong Ltd., Sisu Axles Inc., Vikrant Group, and ZF Friedrichshafen AG

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

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What are the Key Data Covered in this Truck Axle Market Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the truck axle market between 2023 and 2027
  • Precise estimation of the size of the truck axle market size and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the market industry across APAC, North America, Europe, South America, and Middle East and Africa
  • Thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of truck axle market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global truck axle market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global truck axle market 2017 - 2021 ($ million)
    • 4.2 Application Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)
    • 4.3 Type Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Application

    • 6.1 Market segments
      • Exhibit 30: Chart on Application - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Application - Market share 2022-2027 (%)
    • 6.2 Comparison by Application
      • Exhibit 32: Chart on Comparison by Application
      • Exhibit 33: Data Table on Comparison by Application
    • 6.3 Light-duty trucks - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Light-duty trucks - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on Light-duty trucks - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on Light-duty trucks - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Light-duty trucks - Year-over-year growth 2022-2027 (%)
    • 6.4 Heavy-duty trucks - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Heavy-duty trucks - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on Heavy-duty trucks - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on Heavy-duty trucks - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Heavy-duty trucks - Year-over-year growth 2022-2027 (%)
    • 6.5 Medium-duty trucks - Market size and forecast 2022-2027
      • Exhibit 42: Chart on Medium-duty trucks - Market size and forecast 2022-2027 ($ million)
      • Exhibit 43: Data Table on Medium-duty trucks - Market size and forecast 2022-2027 ($ million)
      • Exhibit 44: Chart on Medium-duty trucks - Year-over-year growth 2022-2027 (%)
      • Exhibit 45: Data Table on Medium-duty trucks - Year-over-year growth 2022-2027 (%)
    • 6.6 Market opportunity by Application
      • Exhibit 46: Market opportunity by Application ($ million)

    7 Market Segmentation by Type

    • 7.1 Market segments
      • Exhibit 47: Chart on Type - Market share 2022-2027 (%)
      • Exhibit 48: Data Table on Type - Market share 2022-2027 (%)
    • 7.2 Comparison by Type
      • Exhibit 49: Chart on Comparison by Type
      • Exhibit 50: Data Table on Comparison by Type
    • 7.3 Rigid axles - Market size and forecast 2022-2027
      • Exhibit 51: Chart on Rigid axles - Market size and forecast 2022-2027 ($ million)
      • Exhibit 52: Data Table on Rigid axles - Market size and forecast 2022-2027 ($ million)
      • Exhibit 53: Chart on Rigid axles - Year-over-year growth 2022-2027 (%)
      • Exhibit 54: Data Table on Rigid axles - Year-over-year growth 2022-2027 (%)
    • 7.4 Drive steer axles - Market size and forecast 2022-2027
      • Exhibit 55: Chart on Drive steer axles - Market size and forecast 2022-2027 ($ million)
      • Exhibit 56: Data Table on Drive steer axles - Market size and forecast 2022-2027 ($ million)
      • Exhibit 57: Chart on Drive steer axles - Year-over-year growth 2022-2027 (%)
      • Exhibit 58: Data Table on Drive steer axles - Year-over-year growth 2022-2027 (%)
    • 7.5 Non-drive steer axles - Market size and forecast 2022-2027
      • Exhibit 59: Chart on Non-drive steer axles - Market size and forecast 2022-2027 ($ million)
      • Exhibit 60: Data Table on Non-drive steer axles - Market size and forecast 2022-2027 ($ million)
      • Exhibit 61: Chart on Non-drive steer axles - Year-over-year growth 2022-2027 (%)
      • Exhibit 62: Data Table on Non-drive steer axles - Year-over-year growth 2022-2027 (%)
    • 7.6 Market opportunity by Type
      • Exhibit 63: Market opportunity by Type ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 65: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 66: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 67: Chart on Geographic comparison
      • Exhibit 68: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2022-2027
      • Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.4 North America - Market size and forecast 2022-2027
      • Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.5 Europe - Market size and forecast 2022-2027
      • Exhibit 77: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 78: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 79: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 China - Market size and forecast 2022-2027
      • Exhibit 89: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 90: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 91: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.9 US - Market size and forecast 2022-2027
      • Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.10 Japan - Market size and forecast 2022-2027
      • Exhibit 97: Chart on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 98: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 99: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.11 India - Market size and forecast 2022-2027
      • Exhibit 101: Chart on India - Market size and forecast 2022-2027 ($ million)
      • Exhibit 102: Data Table on India - Market size and forecast 2022-2027 ($ million)
      • Exhibit 103: Chart on India - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on India - Year-over-year growth 2022-2027 (%)
    • 9.12 Germany - Market size and forecast 2022-2027
      • Exhibit 105: Chart on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 106: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 107: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 108: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 109: Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 110: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 111: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 112: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 113: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 114: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 115: Matrix on vendor position and classification
            • 12.3 American Axle and Manufacturing Holdings Inc.
              • Exhibit 116: American Axle and Manufacturing Holdings Inc. - Overview
              • Exhibit 117: American Axle and Manufacturing Holdings Inc. - Business segments
              • Exhibit 118: American Axle and Manufacturing Holdings Inc. - Key offerings
              • Exhibit 119: American Axle and Manufacturing Holdings Inc. - Segment focus
            • 12.4 Automotive Axles Ltd.
              • Exhibit 120: Automotive Axles Ltd. - Overview
              • Exhibit 121: Automotive Axles Ltd. - Product / Service
              • Exhibit 122: Automotive Axles Ltd. - Key offerings
            • 12.5 BRIST Axle Systems Srl LLC
              • Exhibit 123: BRIST Axle Systems Srl LLC - Overview
              • Exhibit 124: BRIST Axle Systems Srl LLC - Product / Service
              • Exhibit 125: BRIST Axle Systems Srl LLC - Key offerings
            • 12.6 Cardone Industries Inc.
              • Exhibit 126: Cardone Industries Inc. - Overview
              • Exhibit 127: Cardone Industries Inc. - Product / Service
              • Exhibit 128: Cardone Industries Inc. - Key offerings
            • 12.7 Dana Inc.
              • Exhibit 129: Dana Inc. - Overview
              • Exhibit 130: Dana Inc. - Business segments
              • Exhibit 131: Dana Inc. - Key news
              • Exhibit 132: Dana Inc. - Key offerings
              • Exhibit 133: Dana Inc. - Segment focus
            • 12.8 Hendrickson Holdings LLC
              • Exhibit 134: Hendrickson Holdings LLC - Overview
              • Exhibit 135: Hendrickson Holdings LLC - Product / Service
              • Exhibit 136: Hendrickson Holdings LLC - Key offerings
            • 12.9 Mercedes Benz Group AG
              • Exhibit 137: Mercedes Benz Group AG - Overview
              • Exhibit 138: Mercedes Benz Group AG - Business segments
              • Exhibit 139: Mercedes Benz Group AG - Key offerings
              • Exhibit 140: Mercedes Benz Group AG - Segment focus
            • 12.10 Meritor Inc.
              • Exhibit 141: Meritor Inc. - Overview
              • Exhibit 142: Meritor Inc. - Business segments
              • Exhibit 143: Meritor Inc. - Key news
              • Exhibit 144: Meritor Inc. - Key offerings
              • Exhibit 145: Meritor Inc. - Segment focus
            • 12.11 Qingte Group Co. Ltd.
              • Exhibit 146: Qingte Group Co. Ltd. - Overview
              • Exhibit 147: Qingte Group Co. Ltd. - Product / Service
              • Exhibit 148: Qingte Group Co. Ltd. - Key offerings
            • 12.12 Raba Automotive Holding Plc
              • Exhibit 149: Raba Automotive Holding Plc - Overview
              • Exhibit 150: Raba Automotive Holding Plc - Business segments
              • Exhibit 151: Raba Automotive Holding Plc - Key offerings
              • Exhibit 152: Raba Automotive Holding Plc - Segment focus
            • 12.13 SAF-HOLLAND SE
              • Exhibit 153: SAF-HOLLAND SE - Overview
              • Exhibit 154: SAF-HOLLAND SE - Business segments
              • Exhibit 155: SAF-HOLLAND SE - Key offerings
              • Exhibit 156: SAF-HOLLAND SE - Segment focus
            • 12.14 Shandong Heavy Industry Group Co. Ltd.
              • Exhibit 157: Shandong Heavy Industry Group Co. Ltd. - Overview
              • Exhibit 158: Shandong Heavy Industry Group Co. Ltd. - Product / Service
              • Exhibit 159: Shandong Heavy Industry Group Co. Ltd. - Key offerings
            • 12.15 Sinotruk Hong Kong Ltd.
              • Exhibit 160: Sinotruk Hong Kong Ltd. - Overview
              • Exhibit 161: Sinotruk Hong Kong Ltd. - Business segments
              • Exhibit 162: Sinotruk Hong Kong Ltd. - Key offerings
              • Exhibit 163: Sinotruk Hong Kong Ltd. - Segment focus
            • 12.16 Sisu Axles Inc.
              • Exhibit 164: Sisu Axles Inc. - Overview
              • Exhibit 165: Sisu Axles Inc. - Product / Service
              • Exhibit 166: Sisu Axles Inc. - Key offerings
            • 12.17 ZF Friedrichshafen AG
              • Exhibit 167: ZF Friedrichshafen AG - Overview
              • Exhibit 168: ZF Friedrichshafen AG - Business segments
              • Exhibit 169: ZF Friedrichshafen AG - Key news
              • Exhibit 170: ZF Friedrichshafen AG - Key offerings
              • Exhibit 171: ZF Friedrichshafen AG - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 172: Inclusions checklist
                • Exhibit 173: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 174: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 175: Research methodology
                • Exhibit 176: Validation techniques employed for market sizing
                • Exhibit 177: Information sources
              • 13.5 List of abbreviations
                • Exhibit 178: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Truck Axle market growth will increase by $3984.36 million during 2023-2027.
              The truck axle market is expected to grow at a CAGR of 4.84% during 2023-2027.
              Technavio has segmented the truck axle market by application (Light-duty trucks, Heavy-duty trucks, and Medium-duty trucks) ,type (Rigid axles, Drive steer axles, Non-drive steer axles, South America, and MEA) , and geography (APAC, North America, Europe, South America, and Middle East and Africa).
              All Truck Parts Ltd., American Axle and Manufacturing Holdings Inc., Automotive Axles Ltd., BRIST Axle Systems Srl LLC, Cardone Industries Inc., Dana Inc., Hendrickson Holdings LLC, Kross Ltd., Magna International Inc., Mercedes Benz Group AG, Meritor Inc., Press Kogyo Co. Ltd., Qingte Group Co. Ltd., Raba Automotive Holding Plc, SAF-HOLLAND SE, Shandong Heavy Industry Group Co. Ltd., Sinotruk Hong Kong Ltd., Sisu Axles Inc., Vikrant Group, ZF Friedrichshafen AG are a few of the key vendors in the truck axle market.
              APAC will register the highest growth rate of 69.49% among the other regions. Therefore, the truck axle market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              • US
              • China
              • Japan
              • India
              • Germany
              The key factors driving the truck axle market growth are:
              • Reduction in production cost of axle owing to advances in manufacturing technology
              • Development of intelligent truck axle
              The truck axle market vendors should focus on grabbing business opportunities from the light-duty trucks segment as it accounted for the largest market share in the base year.
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