Commercial vehicle transportation plays an important role in industrial development and public transport. Ever-rising domestic, as well as international trade, has resulted in immense demand for prompt commercial transportation services over the course of time. In addition, with the emergence of the e-commerce and logistics industries, commercial transportation has become the most crucial mode of transportation worldwide. This has led to a substantial rise in the demand for commercial vehicles and their adjacent markets.
The term “commercial vehicle axle” refers to the central shaft designed specifically for commercial vehicles. These axles are designed for commercial vehicles, including buses, semi-trucks, big hauling trucks, oil tankers, and trailers. These axles are classified as per the application, size of the vehicle, and load to be carried.
Due to the heavy nature of work load carried by the vehicles, commercial vehicle axles are designed depending on the vehicle type and nature of the application being carried out. This makes commercial vehicle axles one of the most crucial components for the overall commercial vehicle industry.
The most significant factor fueling the commercial vehicle axle market’s growth is the ever-rising demand for new commercial vehicles across the world. Growing domestic and international trade is expected to continue escalating the demand for heavy commercial vehicles in the coming years. This is estimated to further drive the market’s growth remarkably during the forecast period.
With new safety regulations for commercial vehicles and increasing pressure on fuel efficiency, manufacturers are trying new technologies to improve vehicles’ performance. Commercial vehicle axles are also being developed within the same framework. This creates a promising avenue for the commercial vehicle axle market to bloom in the forthcoming period.
The global commercial vehicle axles market is segmented on the following bases:
- semi-floating axle
- Three-quarter floating axle
- full floating axle
- Freight transport
- Passenger transport
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- South-east Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
Key players identified for the Commercial Vehicle Axles Market include, but are not limited to:
American Axle & Manufacturing, Meritor, Benteler, RABA, AxleTechInternational, SAF-HOLLAND, PRESS KOGYO CO., Korea Flange Co., Ankai Futian Shuguang Axle, SAIC MOTOR, HANDE, SINOTRUK, Shandong Heavy Industry Group, SG Automotive Group, Sichuan Jian’an Industrial, BPW Group, MAN, ZF, IJT Technology Holdings, Dongfeng Dana, Shaanxi HanDe, FAW Heavy, CNHTC, Zoomlion, Guangxi Fangsheng, SG Automotive Group, Qingte Group, MAN
This report offers the following:
- An overview of the global markets for commercial vehicle axles
- Market trends assessment for the period 2013–2023, with historical information for 2013–2015 and projections through 2023, with respective CAGRs during 2016–2023
- Qualitative assessment tools such as market drivers, challenges, and future prospects in the market
- Market competition scrutiny tools such as market positioning analysis
- A general overview of the industry structure
- Company profiles highlight key information about the major players operating.