Global Truck Axle Market 2020-2024
Technavio has been monitoring the truck axle market and it is poised to grow by $ 0.55 bn during 2020-2024 progressing at a CAGR of 1% during the forecast period. Our reports on truck axle market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the reduction in production cost of axle owing to advances in manufacturing technology, improvements in supply chain strategies and increase in demand for trucks.
The truck axle market analysis includes application segment and geographic landscapes.
Technavio's truck axle market is segmented as below:
- Light-duty trucks
- Heavy-duty trucks
- Medium-duty trucks
By Geographic Landscapes
- North America
- South America
This study identifies the development of modular rear-axle system as one of the prime reasons driving the truck axle market growth during the next few years. Also, an increase in popularity of e-axle system and development of intelligent truck axle will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our truck axle market covers the following areas:
- Truck axle market sizing
- Truck axle market forecast
- Truck axle market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading truck axle market vendors that include American Axle & Manufacturing Inc., Dana Ltd., Meritor Inc., Qingte Group Co. Ltd., Raba Automotive Holding Plc, SAF-HOLLAND SE, Shandong Heavy Industry Group Co. Ltd., Sinotruk (Hong Kong) Ltd., Sisu Axles Inc., and ZF Friedrichshafen AG. Also, the truck axle market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.