South America Truck Axle Market Developments and Forecast by 2028

Historic Data: 2019-2020 | Base Year: 2021 | Forecast Period: 2022-2028

South America Truck Axle Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Rigid Axles, Drive Steer Axles, and Non-Drive Steer Axles) and Application (Light-Duty Trucks, Medium-Duty Trucks, and Heavy-Duty Trucks)

Report Date : Jun 2021
Report Code : TIPRE00023016

Category : Automotive and Transportation
Status : Published

Available Report Formats :
No. of Pages : 96

Page Updated: Jun 2021

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

The truck axle market in SAM is expected to reach US$ 54.16 million by 2028 from US$ 43.71 million in 2021. The market is estimated to grow at a CAGR of 3.1% from 2021 to 2028.

Governments of various countries are imposing specific regulations on truck loading capacity, thus compelling to this norm with efficient solution companies developing advanced axle solutions to effectively balance the truck load. New advancements in axle designs, weighing capacity, and material are introduced by truck manufacturers. Moreover, new technologies are being integrated by truck axle manufacturers to improve fuel efficiency and truck performance.

Brazil has the highest number of COVID-19 cases, followed by Peru, Chile, Colombia, Ecuador, and Argentina, among others. Governments in SAM have taken an array of actions to protect its citizens and contain COVID-19’s spread; therefore, imposed lockdowns to promote social distancing. As per the Brazil automaker’s association, it is anticipated that the sales of automotive will recover to pre-COVID levels by 2025. Also, several automakers in the country have witnessed a sharp decline in their production capabilities. According to Anfavea, the automakers association, the automotive production is expected to witness a fall of 45% in 2020 compared to 2019. Also, the auto exports are expected to witness a decline of 53% for the same duration. Recently, Ford Motors announced to close its three production facilities and stop manufacturing operations in SAM region.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the SAM truck axle market. The SAM truck axle market is expected to grow at a good CAGR during the forecast period.

This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

SAM Truck Axle Market Segmentation

SAM Truck Axle Market – By Type

Rigid Axle
Drive Steer Axles
Non-drive Steer Axles

SAM Truck Axle Market- By Application

Light-duty trucks
Medium-duty trucks
Heavy-duty trucks

SAM Truck Axle Market - By Country

Brazil
Rest of SAM

SAM Truck Axle Market -Companies Mentioned

American Axle & Manufacturing, Inc.
Dana Limited
Meritor, Inc.
Qingte Group Co., Ltd.
Rába Automotive Holding Plc.
SAF-HOLLAND SE
Shandong Heavy Industry Group Co., Ltd.
Sinotruk (Hong Kong) Limited
ZF Friedrichshafen AG

South America Truck Axle Report Scope

Report Attribute	Details
Market size in 2021	US$ 43.71 Million
Market Size by 2028	US$ 54.16 Million
Global CAGR (2021 - 2028)	3.1%
Historical Data	2019-2020
Forecast period	2022-2028
Segments Covered	By Type Rigid Axles Drive Steer Axles Non-Drive Steer Axles By Application Light-Duty Trucks Medium-Duty Trucks Heavy-Duty Trucks
Regions and Countries Covered	South and Central America Brazil Argentina Rest of South and Central America
Market leaders and key company profiles	American Axle & Manufacturing, Inc. Dana Limited Meritor, Inc. Qingte Group Co., Ltd. R

Research Manager

Naveen Chittaragi

Associate Vice President,
Market Research & Consulting

Naveen is an experienced market research and consulting professional with over 9 years of expertise across custom, syndicated, and consulting projects. Currently serving as Associate Vice President, he has successfully managed stakeholders across the project value chain and has authored over 100 research reports and 30+ consulting assignments. His work spans across industrial and government projects, contributing significantly to client success and data-driven decision-making.

Naveen holds an Engineering degree in Electronics & Communication from VTU, Karnataka, and an MBA in Marketing & Operations from Manipal University. He has been an active IEEE member for 9 years, participating in conferences, technical symposiums, and volunteering at both section and regional levels. Prior to his current role, he worked as an Associate Strategic Consultant at IndustryARC and as an Industrial Server Consultant at Hewlett Packard (HP Global).

What are the South America Truck Axle Market report deliverables?

Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
PEST and SWOT Analysis
Market Size Value / Volume - Global, Regional, Country
Industry and Competitive Landscape
Excel Dataset

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