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 : pdf-format excel-format
  • No. of Pages : 96

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.
SAM truck axle market

  • 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
  • Naveen Chittaragi
    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).

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    Our Clients
    1. American Axle & Manufacturing, Inc.
    2. Dana Limited
    3. Meritor, Inc.
    4. Qingte Group Co., Ltd.
    5. Rába Automotive Holding Plc.
    6. SAF-HOLLAND SE
    7. Shandong Heavy Industry Group Co., Ltd.
    8. Sinotruk (Hong Kong) Limited
    9. ZF Friedrichshafen AG
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