Rear Axle is one of the most important components used in a vehicle’s
manufacturing process. A drive axle system is driven by the engine
where the axle transmits torque to the wheel. It also maintains the
proximity of the wheels relative to one another when the vehicle is
in motion. The rear axles also ensure the stability in vehicles by
distributing the weight of the vehicle equally in all its part. A
non-driving axle such as the dead axle in heavy vehicles and light
trucks do not have shafts and serves only as a steering component and
suspension.
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Drive axle, dead axle and lift axle are the major types of rear axle
commodities used in vehicles. The application and use of rear axles
in railways is also of utmost significance. Straight rear axles are
used for the engine of the trains and straight dead axles are used
for the wagons. A straight axle is a rigid shaft which connects the
left side of the wheel to the right side. This ensures the fixed axis
rotation of both the wheels and such design keep the wheels stable
under difficult situations.
The major type of rear axles is applicable in all vehicles and
therefore the increasing demand for automobiles is directly driving
the market for rear axle components. Need for compliance with various
emission norms, changing customer demands along with safety, comfort
and security needs are boosting the demand for rear axles. Apart from
this, the demand for luxury vehicles and passenger vehicles is
expected to experience exponential growth owing to higher amount of
disposable income in developing regions fueling the demand for
automotive components including rear axles. Apart from this, growing
demand for fuel-efficient vehicles with light-weight rear axle
components is also expected to drive the rear axle commodity market
globally.
Over the last few decades, stringent government regulations regarding
fuel economy and safety are considerably influencing the automotive
industry. Automobile manufacturers are required to follow Corporate
Average Fuel Economy (CAFE) standards. This has driven the demand for
various, improved automotive components that enable better fuel
efficiency and low emission in vehicles. The rear axle, being a major
automotive component, largely influences the fuel economy in
vehicles. In addition to fuel-efficiency benefits, the demand for
improved and lightweight rear axles from automobile manufacturers is
also driven by the better on-road and off-road traction these rear
axles provide to enhance the longevity of vehicles. In addition, the
need for comfort, safety, and security in passenger vehicles is
expected to rise in the coming years. This factor is expected to
drive the growth of the rear axle commodity market. Lightweight and
advanced rear axles reduce the overall weight of vehicles, enabling
better handling and even weight distribution of the vehicle. Hence,
these factors are estimated to drive the growth of the rear axle
commodity market during the forecast period. However, rising fuel
prices, higher finances for purchasing vehicles and inflation in
emerging markets have adversely affected medium and heavy commercial
vehicle (MHCV) manufacturers. This factor has also affected rear axle
manufacturers as the rear axle is a vital automotive component used
in all vehicles.
Major market participants profiled in this report include American
Axle Manufacturing Inc., (U.S.), Meritor Inc., (U.S.), GNA Axles
Limited (India), Talbros Engineering Limited (India), ROC Spicer
Limited (Taiwan) and Daimler Trucks North America LLC (U.S.).
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