Global Automotive Axle market seems to reach USD 39.02 billion by 2028, at a CAGR of 5.59% from 2021 to 2028. Global Automotive Axle market is witnessing a considerable growth owing to the surge in the vehicle production and the advancement in technology.

Market Overview:

The automotive axle is generally two wheels which are separated by a rod or other devices that stabilize the distance between the two wheels and can also handle the weight of the vehicle along with the weight of the passengers on it. It should be designed such that it can take the acceleration forces or the jerks caused by sudden brakes applied in the vehicle. The axle should be robust in construction, but in design, it should be simple in structure. The automotive vehicle also used it in different functionalities for steering and transmission. The axle is used to transfer the torque from axle to the wheels. There is basically two kinds of the axle drive axle and dead axle. Drive axle is the axle that is driven by the engine. The advanced front-wheel cars consist of transmission like gearbox, differentials and the front axle into a single unit known as the transaxle. A dead axle is a free rotating axle. These are used by heavy-duty trucks and trailers to bear loads of heavy goods. The increasing demand for the automotive industry is increasing the demand for the automotive axle. This drives the automotive axle market. The growing demand for an electric and hybrid vehicle with the integration of advancement in technology for gear systems are driving the automotive axle market. A full floating axle holds the vehicle weight on the vehicle casing and is used to transfer torque from differential to the wheel. Semi floating are mostly used in lighter trucks, in the rear side. This helps in propulsion and in carrying the weight of the truck. Also, the need for enhancing the power and drivetrain system, which consist of the clutch, propeller shaft, transmission and axle are the factors driving the automotive axle market. The automotive axle is an important part for providing the momentum to the vehicle, by taking torque from engine to differential and then from the differential to the wheels. The surge in demand for SUVs and MUVs and the increase in the production of the overall vehicle are the reasons that will propel the market in the forecasting period. Some commercial vehicles like heavy and medium-duty trucks, buses etc. are having more than two axles which depend on the application and the role of the vehicles.

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Market Dynamics:

Drivers:

• The surge in the vehicle production

The rise in disposable income of the people in developed and developing countries have led to a change in their lifestyle. They have now access to quality products, and their need has increased. This has also increased the demand for vehicles, luxurious cars etc. The increase in demand has led to an increase in the production of the vehicle by the automobile industries. The increase in the production of the vehicle has increased the demand for the automotive axle, which is driving the automotive axle market.

• The advancement in technologies

The advancement in technologies have also led to more advanced kind of vehicles; these advanced technologies are also helpful in designing the advanced automotive technologies and also more advanced kind of axle used in the automobiles these days. The growing demand for electric and hybrid vehicles have also increased the demand for the automotive axle market. The advancement in technologies in commercial vehicles like heavy-duty trucks and the advancement in technologies in the axle to handle the trucks better when it is in motion and to handle its weight in a much better way so that it can handle heavy-duty vehicle in better way while in motion also.

Restraints:

• The fluctuating price of raw materials

The fluctuation in the price of raw materials producing automotive axle is acting as a restraint for the market. The fluctuation in the price would cause the fluctuation in supply of automotive axle, which ultimately someday would not able to meet the demand. The price of the automotive axle will then rise, resulted in the less buying of an axle, and the end-user industries would buy lesser new advanced automotive axle, which will reduce the demand of the automotive axle market. So the fluctuations in the price of raw materials are the major restraint for the power tools market.

Opportunities:

• The growing demand for AWD vehicles

The increasing demand for hybrid vehicles and electric vehicles are driving the automotive axle market. Also, the growing demand for AWD vehicles would drive the automotive axle market in the forecasting period. The most common AWD vehicles are four-wheel drive, six-wheel drive and eight-wheel drive. In four-wheel-drive presents two axles, with both wheels on each axle with any axle, is capable of being powered. Similarly in six-wheel drive presents three axles, with both wheels on each axle and both axle is capable of being powered and eight-wheel drive presents four axles, with both wheels on each axle and both axles are capable of being powered. All these factors would drive the automotive axle market in the forecasting period.

Segmentation Analysis:

The global Automotive Axle market has been segmented based on type, material, propeller shaft typeand regions.

• The type segment is divided into the front axle and rear axle. Front axle segment is accounted for the highest market share of 57.68% in 2020. This is because of the surge in the number of passenger cars. All the mainstream passenger cars are now built on the front-wheel-drive platform. This also performs better in adverse condition as it rather pulls the car than pushing the car. The front-wheel-drive cars are cheaper to make when compared to rear-wheel-drive cars as it combines engine and transmission into a single unit.
• The material type segment includes alloy and carbon fiber. The alloy segment accounts for 61.35% of market share in 2020. The alloy is the most commonly used material for the segment. But the carbon fiber segment will increase in the forecasting period because of its high strength and rigidity. The carbon fiber is the latest trend and will be utilized in the applications in many industries and very soon replace the metals and alloys.
• The propeller shaft type segment consists of single and multi-piece. The single segment accounts for 54.69% of market share in 2020. This is because of its lightweight, which increases fuel efficiency. The single-piece propeller is mostly used to keep the shorter distance between the engine and the rear axle. Also, the increase in disposable income has led to an increase in the demand of SUVs vehicle, which are rear-wheel-drive cars, which in turn is fuelling the use of single-piece propeller.

Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. The Asia Pacific is accounting for the highest marketing share in 2019.

• Asia Pacific region is having the highest market share of 37.24% in 2020. This is due to the expanding automotive sector in the region. Also, the increase in the per capita income of the people of the developing region like India and China are also increasing the sales of the cars, which in turn is driving the automotive axle market. Also, the advancement in technology, focus of industries to improve the fuel efficiency of the vehicle is also driving the market in the region.
• Europe had the second-largest market share of 25.21 % in 2020. This is due to the strict emission norms in the region. The automotive organizations are trying to increase the fuel efficiency of the vehicles. This has led to the use of lightweight parts and lightweight but strong axles for the vehicles. These factors are driving the automotive axle market in the region.

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Competitive Analysis:

The big players are now focused in the implementation of strategies like joint venture, product innovations, merger and acquisition and partnerships etc. to gain the market share and to strengthen its position in the global Automotive Axle industry.

In April 2017, American Axle & Manufacturing, Inc. acquired Metaldyne Performance Group Inc. This acquisition helped the organization in expanding business diversification by delivering innovative solutions to the customers.

In March 2018, Dana Incorporated announced to acquire UK based GKN plc. By this acquisition, the organization has become the world leader in vehicle drive systems, and this also has put the organization in the leading position in electric propulsion segment.

List of Key Market Players:

• GKN plc
• American Axle & Manufacturing, Inc.
• SHOWA Corporation
• ZF Friedrichshafen AG
• HYUNDAI WIA
• CARDONE Industries
• Dorman Products.
• Pro Comp.
• JTEKT Corporation
• Dana Incorporated

Key Target Audience

• Automotive Industries
• Research & Consulting Firms
• Regulatory Bodies

Report Description:

• Global Automotive Axle Market, Industry Analysis, Trends, Analysis and Forecast, 2021 to 2028 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
• 2020 is considered as the base year of the report. 2018 and 2019 are considered as the historic years and 2021 to 2028 are the forecast years. The global Automotive Axle market is based on revenue (USD Million/Billion), volume and price. The report incorporates the market study on the basis of revenue, and volume. The study covers the market share revenue/market share/volume for each of the segments, regions and countries catering to global Automotive Axle market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
• The report encompasses with the relative data & information, which have been validated by the leading industry professionals and experts all across the globe. The research report also delivers an outline of the attractiveness of type, material, propeller shaft type and regionswhich are deduced and formulatedon the basis of theirgrowth rate (CAGR), market size, and attractiveness by analyzing the present and future prospects to fathommarket growth and development in future.
• The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to global Automotive Axle market. This offersvital and in depth insights in order to depict the overall market scenario.
• The report offers the detailed study for the company profiles of key organizations operating in the global Automotive Axle market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development &innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario. 
• The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis so as to provide business related data and information’s. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company growth and development in order to sustain and survive in the long run.
• Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which acts as a key potential for the investors. 
• Potential growth prospects along with the penetration rate analysis of the products (market related i.e., global Automotive Axle market) is covered in order to comprehend the adoption rate and evaluate the market size.