Truck Axle Market Forecast to 2028 - COVID-19 Impact and Global 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)

Publication Month: Apr 2021 | Report Code: TIPRE00020405 | No. of Pages: 138 | Category: Automotive and Transportation | Status: Published

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The truck axle market was valued at US$ 1440.01 million in 2020 and is projected to reach US$ 2032.00 million by 2028. The truck axle market is expected to grow at a CAGR of 4.9% during 2021–2028.

 

Automotive components are getting evolved at rapid rate with advancement in designs, sizes, and materials. The truck axles are getting lighter in weight and enhanced with load carrying capacity with advanced design to enhance fuel efficiency and performance of trucks. Medium and heavy-duty trucks (M&HDT) ranging from class 3–8, use truck axles to their efficiently manage their load and increase weight carrying capacity. Rigid axles are majorly used in rigid trucks. A larger number of rigid trucks are used in different applications than articulated trucks, which is a key factor driving the growth of the market for rigid axles segment. The robust construction of rigid axles makes them the most preferred solution in commercial trucks operating off-road and on highways.   

 

The increasing adoption of electrical trucks over fossil fuel-based trucks is promoting the market players to offer enhanced axles for electric trucks. The global truck axle market is segmented into type, application, and geography. Based on type, the truck axle market is segmented into rigid axles, drive steer axles, and non-drive steer axles. Based on application, the truck axle market is further bifurcated into light-duty trucks, medium-duty trucks, and heavy-duty trucks.

                                                                                    

Impact of COVID-19 Pandemic on Truck axle Market

The COVID-19 pandemic has hampered the automobile industry and economic growth of almost every country. Manufacturing sector has witnessed severe impact as facilities remained closed for a certain period. Sales of trucks such as medium-duty trucks and heavy-duty trucks is declined. The revenue model for automobiles has declined due to the low production during the lockdown period. Post-lockdown, the automobile industry started to regain the market share as production facilities restarted their operations with social distancing measures. In addition, the growing inclination toward electric trucks also helped increase the sale of e-axles in electric trucks for better performance. The COVID-19 pandemic created a major impact on the automobile industry for the first half of 2020; however, after the third quarter, the increasing sale of vehicles supported the market growth.

 

Lucrative Regions in Truck axle Market

Lucrative Regions in Truck axle Market

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Truck axle Market Insights

 

Growing Technical Development in Truck Axle

New technologies are being integrated by truck axle manufacturers to improve fuel efficiency and truck performance. For instance, in March 2021, Ashok Leyland, a leading truck manufacturer from India, introduced a new 4-axle 8x2 DTLA truck (14-wheeler), AVTR 4120, in the market. The company introduced a new truck with 4-axles having a capacity of 40.5-ton gross vehicle weight (GVW) with an additional 5-tonne payload compared to standard 8x2 trucks.

 

Type -Based Market Insights

Based on type, the truck axle market has been segmented into rigid axles, drive steer axles, and non-drive steer axles. The rigid axles segment held the largest share in 2020, and it is likely to be the largest shareholder in the market during the forecasted period. The growth of this segment is mainly due to increasing adoption in light-duty and medium-duty trucks.

 

Truck axle Market, by Rim Size– 2020 and 2028

Truck axle Market, by Rim Size– 2020 and 2028

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Application -Based Market Insights

Based on application, the global truck axle market is segmented into light-duty trucks, medium-duty trucks, and heavy-duty trucks. The light-duty trucks segment dominated the market in 2020 and is expected to hold the largest market share during the forecast period. However, there is increasing demand for medium-duty trucks for intercity and highway goods transport applications.

                                  

Strategic Insights

Players operating in the truck axle market focus on strategies such as market initiatives, acquisitions, and product launches to maintain their positions in the truck axle market. A few development by key players of the truck axle market are:

 

In February 2021, Meritor, Inc. has announced that the production of its 14Xe™ all electric, completely integrated, and commercial electric powertrain for medium as well as heavy duty commercial vehicles is going to begin from mid-2021.

 

By Type

  • Rigid Axle
  • Drive Steer Axles
  • Non-drive Steer Axles


By Application

  • Light-Duty Trucks
  • Medium-Duty Trucks
  • Heavy-Duty Trucks


By Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • South Korea
    • Japan
    • Rest of APAC
  • Middle East & Africa (MEA)
    • South Africa
    • Rest of MEA
  • South America (SAM)
    • Brazil
    • Rest of SAM

Truck axle Market – Company Profiles

  • 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
  • Sisu Axles, Inc.
  • ZF Friedrichshafen AG

1.            Introduction

1.1       Study Scope

1.2       The Insight Partners Research Report Guidance

1.3       Market Segmentation

2.            Key Takeaways

3.            Research Methodology

3.1       Coverage

3.2       Secondary Research

3.3       Primary Research

4.            Truck Axle Market Landscape

4.1       Market Overview

4.2       PEST Analysis

4.2.1        North America – PEST Analysis

4.2.2        Europe – PEST Analysis

4.2.3        Asia-Pacific – PEST Analysis

4.2.4        Middle East and Africa – PEST Analysis

4.2.5        South and Central America – PEST Analysis

4.3       Ecosystem Analysis

4.4       Expert Opinions

5.            Truck Axle Market – Key Market Dynamics

5.1       Market Drivers

5.1.1        Increase in Focus on New Product Development

5.1.2        Advancements in Manufacturing Processes

5.2       Market Restraints

5.2.1        High Manufacturing and Maintenance Cost of Trucks

5.3       Market Opportunities

5.3.1        Surge in Production of Trucks in Developing Countries

5.4       Future Trends

5.4.1        Advent of Electrification in Truck Market

5.5       Impact Analysis of Drivers and Restraints

6.            Truck Axle – Global Market Analysis

6.1       Global Truck Axles Market Overview

6.2       Global Truck Axle Market Revenue Forecast and Analysis

6.3       Market Positioning – Five Key Players

7.            Truck Axle Market Revenue and Forecast to 2028 – Type

7.1       Overview

7.2       Truck Axle Market, by Type (2020 and 2028)

7.3       Rigid Axles

7.3.1        Overview

7.3.2        Rigid Axles: Truck Axle Market Revenue and Forecast to 2028 (US$ Million)

7.4       Drive Steer Axles

7.4.1        Overview

7.4.2        Drive Steer Axles: Truck Axle Market Revenue and Forecast to 2028 (US$ Million)

7.5       Non-drive Steer Axles

7.5.1        Overview

7.5.2        Non-drive Steer Axles: Truck Axle Market Revenue and Forecast to 2028 (US$ Million)

8.            Truck Axle Market Revenue and Forecast to 2028 – Application

8.1       Overview

8.2       Truck Axle Market, by Application (2020 and 2028)

8.3       Light-Duty Trucks

8.3.1        Overview

8.3.2        Light-Duty Trucks: Truck Axle Market Revenue and Forecast to 2028 (US$ Million)

8.4       Medium-Duty Trucks

8.4.1        Overview

8.4.2        Medium-Duty Trucks: Truck Axle Market Revenue and Forecast to 2028 (US$ Million)

8.5       High-Duty Trucks

8.5.1        Overview

8.5.2        High-duty Trucks: Truck Axle Market Revenue and Forecast to 2028 (US$ Million)

9.            Truck Axle Market – Geographic Analysis

9.1       Overview

9.2       North America: Truck Axle Market

9.2.1        North America: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

9.2.2        North America: Truck Axle Market, by Type

9.2.3        North America: Truck Axle Market, by Application

9.2.4        North America: Truck Axle Market, by Key Country

9.2.4.1      US: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

9.2.4.1.1      US: Truck Axle Market, by Type

9.2.4.1.2      US: Truck Axle Market, by Application

9.2.4.2      Canada: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

9.2.4.2.1      Canada: Truck Axle Market, by Type

9.2.4.2.2      Canada: Truck Axle Market, by Application

9.2.4.3      Mexico: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

9.2.4.3.1      Mexico: Truck Axle Market, by Type

9.2.4.3.2      Mexico: Truck Axle Market, by Application

9.3       Europe: Truck Axle Market

9.3.1        Europe: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

9.3.2        Europe: Truck Axle Market, by Type

9.3.3        Europe: Truck Axle Market, by Application

9.3.4        Europe: Truck Axle Market, by Key Country

9.3.4.1      France: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

9.3.4.1.1      France: Truck Axle Market, by Type

9.3.4.1.2      France: Truck Axle Market, by Application

9.3.4.2      Germany: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

9.3.4.2.1      Germany: Truck Axle Market, by Type

9.3.4.2.2      Germany: Truck Axle Market, by Application

9.3.4.3      UK: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

9.3.4.3.1      UK: Truck Axle Market, by Type

9.3.4.3.2      UK: Truck Axle Market, by Application

9.3.4.4      Italy: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

9.3.4.4.1      Italy: Truck Axle Market, by Type

9.3.4.4.2      Italy: Truck Axle Market, by Application

9.3.4.5      Russia: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

9.3.4.5.1      Russia: Truck Axle Market, by Type

9.3.4.5.2      Russia: Truck Axle Market, by Application

9.3.4.6      Rest of Europe: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

9.3.4.6.1      Rest of Europe: Truck Axle Market, by Type

9.3.4.6.2      Rest of Europe: Truck Axle Market, by Application

9.4       APAC: Truck Axle Market

9.4.1        APAC: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

9.4.2        APAC: Truck Axle Market, by Type

9.4.3        APAC: Truck Axle Market, by Application

9.4.4        APAC: Truck Axle Market, by Key Country

9.4.4.1      China: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

9.4.4.1.1      China: Truck Axle Market, by Type

9.4.4.1.2      China: Truck Axle Market, by Application

9.4.4.2      Japan: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

9.4.4.2.1      Japan: Truck Axle Market, by Type

9.4.4.2.2      Japan: Truck Axle Market, by Application

9.4.4.3      India: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

9.4.4.3.1      India: Truck Axle Market, by Type

9.4.4.3.2      India: Truck Axle Market, by Application

9.4.4.4      South Korea: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

9.4.4.4.1      South Korea: Truck Axle Market, by Type

9.4.4.4.2      South Korea: Truck Axle Market, by Application

9.4.4.5      Rest of APAC: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

9.4.4.5.1      Rest of APAC: Truck Axle Market, by Type

9.4.4.5.2      Rest of APAC: Truck Axle Market, by Application

9.5       MEA: Truck Axle Market

9.5.1        MEA: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

9.5.2        MEA: Truck Axle Market, by Type

9.5.3        MEA: Truck Axle Market, by Application

9.5.4        MEA: Truck Axle Market, by Key Country

9.5.4.1      South Africa: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

9.5.4.1.1      South Africa: Truck Axle Market, by Type

9.5.4.1.2      South Africa: Truck Axle Market, by Application

9.5.4.2      Rest of MEA: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

9.5.4.2.1      Rest of MEA: Truck Axle Market, by Type

9.5.4.2.2      Rest of MEA: Truck Axle Market, by Application

9.6       South America: Truck Axle Market

9.6.1        SAM: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

9.6.2        SAM: Truck Axle Market, by Type

9.6.3        SAM: Truck Axle Market, by Application

9.6.4        SAM: Truck Axle Market, by Key Country

9.6.4.1      Brazil: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

9.6.4.1.1      Brazil: Truck Axle Market, by Type

9.6.4.1.2      Brazil: Truck Axle Market, by Application

9.6.4.2      Rest of SAM: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

9.6.4.2.1      Rest of SAM: Truck Axle Market, by Type

9.6.4.2.2      Rest of SAM: Truck Axle Market, by Application

10.         Truck Axle Market - COVID-19 Impact Analysis

10.1    Overview

10.2    North America: Impact Assessment of COVID-19 Pandemic

10.3    Europe: Impact Assessment of COVID-19 Pandemic

10.4    Asia Pacific: Impact Assessment of COVID-19 Pandemic

10.5    Middle East and Africa: Impact Assessment of COVID-19 Pandemic

10.6    South America: Impact Assessment of COVID-19 Pandemic

11.         Industry Landscape

11.1    Overview

11.2    Market Initiative

12.         Company Profiles

12.1    American Axle & Manufacturing, Inc.

12.1.1     Key Facts

12.1.2     Business Description

12.1.3     Products and Services

12.1.4     Financial Overview

12.1.5     SWOT Analysis

12.1.6     Key Developments

12.2    Qingte Group Co., Ltd.

12.2.1     Key Facts

12.2.2     Business Description

12.2.3     Products and Services

12.2.4     Financial Overview

12.2.5     SWOT Analysis

12.2.6     Key Developments

12.3    Meritor, Inc.

12.3.1     Key Facts

12.3.2     Business Description

12.3.3     Products and Services

12.3.4     Financial Overview

12.3.5     SWOT Analysis

12.3.6     Key Developments

12.4    Rába Automotive Holding Plc.

12.4.1     Key Facts

12.4.2     Business Description

12.4.3     Products and Services

12.4.4     Financial Overview

12.4.5     SWOT Analysis

12.4.6     Key Developments

12.5    Dana Limited

12.5.1     Key Facts

12.5.2     Business Description

12.5.3     Products and Services

12.5.4     Financial Overview

12.5.5     SWOT Analysis

12.5.6     Key Developments

12.6    SAF-HOLLAND SE

12.6.1     Key Facts

12.6.2     Business Description

12.6.3     Products and Services

12.6.4     Financial Overview

12.6.5     SWOT Analysis

12.6.6     Key Developments

12.7    Sisu Axles, Inc.

12.7.1     Key Facts

12.7.2     Business Description

12.7.3     Products and Services

12.7.4     Financial Overview

12.7.5     SWOT Analysis

12.7.6     Key Developments

12.8    Shandong Heavy Industry Group Co., Ltd.

12.8.1     Key Facts

12.8.2     Business Description

12.8.3     Products and Services

12.8.4     Financial Overview

12.8.5     SWOT Analysis

12.8.6     Key Developments

12.9    Sinotruk (Hong Kong) Limited

12.9.1     Key Facts

12.9.2     Business Description

12.9.3     Products and Services

12.9.4     Financial Overview

12.9.5     SWOT Analysis

12.9.6     Key Developments

12.10 ZF Friedrichshafen AG

12.10.1   Key Facts

12.10.2   Business Description

12.10.3   Products and Services

12.10.4   Financial Overview

12.10.5   SWOT Analysis

12.10.6   Key Developments

13.         Appendix

13.1    About The Insight Partners

13.2    Word Index

LIST OF TABLES

Table 1.            Global Truck Axle Market Revenue and Forecast to 2028 (US$ Million)

Table 2.            North America: Truck Axle Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 3.            North America: Truck Axle Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 4.            North America: Truck Axle Market, by Country – Revenue and Forecast to 2028 (US$ Million)

Table 5.            US: Truck Axle Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 6.            US: Truck Axle Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 7.            Canada: Truck Axle Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 8.            Canada: Truck Axle Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 9.            Mexico: Truck Axle Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 10.          Mexico: Truck Axle Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 11.          Europe: Truck Axle Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 12.          Europe: Truck Axle Market, By Application – Revenue and Forecast to 2028 (US$ Million)

Table 13.          Europe: Truck Axle Market, by Country – Revenue and Forecast to 2028 (US$ Million)

Table 14.          France: Truck Axle Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 15.          France: Truck Axle Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 16.          Germany: Truck Axle Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 17.          Germany: Truck Axle Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 18.          UK: Truck Axle Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 19.          UK: Truck Axle Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 20.          Italy: Truck Axle Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 21.          Italy: Truck Axle Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 22.          Russia: Truck Axle Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 23.          Russia: Truck Axle Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 24.          Rest of Europe: Truck Axle Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 25.          Rest of Europe: Truck Axle Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 26.          APAC: Truck Axle Market, By Type – Revenue and Forecast to 2028 (US$ Million)

Table 27.          APAC: Truck Axle Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 28.          APAC: Truck Axle Market, by Country – Revenue and Forecast to 2028 (US$ Million)

Table 29.          China: Truck Axle Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 30.          China: Truck Axle Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 31.          Japan: Truck Axle Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 32.          Japan: Truck Axle Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 33.          India: Truck Axle Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 34.          India: Truck Axle Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 35.          South Korea: Truck Axle Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 36.          South Korea: Truck Axle Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 37.          Rest of APAC: Truck Axle Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 38.          Rest of APAC: Truck Axle Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 39.          MEA: Truck Axle Market, By Type – Revenue and Forecast to 2028 (US$ Million)

Table 40.          MEA: Truck Axle Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 41.          MEA: Truck Axle Market, by Country – Revenue and Forecast to 2028 (US$ Million)

Table 42.          South Africa: Truck Axle Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 43.          South Africa: Truck Axle Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 44.          Rest of MEA: Truck Axle Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 45.          Rest of MEA: Truck Axle Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 46.          SAM: Truck Axle Market, By Type – Revenue and Forecast to 2028 (US$ Million)

Table 47.          SAM: Truck Axle Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 48.          SAM: Truck Axle Market, by Country – Revenue and Forecast to 2028 (US$ Million)

Table 49.          Brazil: Truck Axle Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 50.          Brazil: Truck Axle Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 51.          Rest of SAM: Truck Axle Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 52.          Rest of SAM: Truck Axle Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 53.          List of Abbreviation

 

LIST OF FIGURES

Figure 1.           Truck Axle Market Segmentation

Figure 2.           Truck Axle Market Segmentation – By Geography

Figure 3.           Global Truck Axle Market Overview

Figure 4.           Truck Axle Market, by Type

Figure 5.           Truck Axle Market, By Application

Figure 6.           Truck Axle Market, By Geography

Figure 7.           North America – PEST Analysis

Figure 8.           Europe – PEST Analysis

Figure 9.           Asia-Pacific – PEST Analysis

Figure 10.        Middle East and Africa – PEST Analysis

Figure 11.        South America – PEST Analysis

Figure 12.        Truck Axle Market: Ecosystem Analysis

Figure 13.        Truck Axle Market Impact Analysis of Drivers and Restraints

Figure 14.        Geographic Overview of Truck Axles Market

Figure 15.        Global Truck Axle Market Revenue Forecast and Analysis (US$ Million)

Figure 16.        Truck Axle Market, by Type (2020 and 2028)

Figure 17.        Rigid Axles: Truck Axle Market Revenue and Forecast to 2028 (US$ Million)

Figure 18.        Drive Steer Axles: Truck Axle Market Revenue and Forecast to 2028 (US$ Million)

Figure 19.        Non-Drive Steer Axles: Truck Axle Market Revenue and Forecast to 2028 (US$ Million)

Figure 20.        Truck Axle Market, by Application (2020 and 2028)

Figure 21.        Light-Duty Trucks: Truck Axle Market Revenue and Forecast to 2028 (US$ Million)

Figure 22.        Medium-Duty Trucks: Truck Axle Market Revenue and Forecast to 2028 (US$ Million)

Figure 23.        High-duty Trucks: Truck Axle Market Revenue and Forecast to 2028 (US$ Million)

Figure 24.        Global Truck Axle Market Revenue Share, By Region (2020 and 2028)

Figure 25.        North America: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

Figure 26.        North America: Truck Axle Market Revenue Share, by Type (2020 and 2028)

Figure 27.        North America: Truck Axle Market Revenue Share, by Application (2020 and 2028)

Figure 28.        North America: Truck Axle Market Revenue Share, by Key Country (2020 and 2028)

Figure 29.        US: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

Figure 30.        Canada: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

Figure 31.        Mexico: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

Figure 32.        Europe: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

Figure 33.        Europe: Truck Axle Market Revenue Share, by Type (2020 And 2028)

Figure 34.        Europe: Truck Axle Market Revenue Share, by Application (2020 and 2028)

Figure 35.        Europe: Truck Axle Market Revenue Share, by Key Country (2020 and 2028)

Figure 36.        France: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

Figure 37.        Germany: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

Figure 38.        UK: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

Figure 39.        Italy: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

Figure 40.        Russia: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

Figure 41.        Rest of Europe: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

Figure 42.        APAC: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

Figure 43.        APAC: Truck Axle Market Revenue Share, by Type (2020 and 2028)

Figure 44.        APAC: Truck Axle Market Revenue Share, by Application (2020 and 2028)

Figure 45.        APAC: Truck Axle Market Revenue Share, by Key Country (2020 and 2028)

Figure 46.        China: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

Figure 47.        Japan: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

Figure 48.        India: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

Figure 49.        South Korea: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

Figure 50.        Rest of APAC: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

Figure 51.        MEA: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

Figure 52.        MEA: Truck Axle Market Revenue Share, by Type (2020 and 2028)

Figure 53.        MEA: Truck Axle Market Revenue Share, by Application (2020 and 2028)

Figure 54.        MEA: Truck Axle Market Revenue Share, by Key Country (2020 and 2028)

Figure 55.        South Africa: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

Figure 56.        Rest of MEA: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

Figure 57.        SAM: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

Figure 58.        SAM: Truck Axle Market Revenue Share, by Type (2020 and 2028)

Figure 59.        SAM: Truck Axle Market Revenue Share, by Application (2020 and 2028)

Figure 60.        SAM: Truck Axle Market Revenue Share, by Key Country (2020 and 2028)

Figure 61.        Brazil: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

Figure 62.        Rest of SAM: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

Figure 63.        Impact of COVID-19 Pandemic in North American Countries

Figure 64.        Impact of COVID-19 Pandemic in Europe Countries

Figure 65.        Impact of COVID-19 Pandemic in Asia Pacific Countries

Figure 66.        Impact of COVID-19 Pandemic in Middle East and Africa Countries

Figure 67.        Impact of COVID-19 Pandemic in South America Countries

 

The List of Companies - Truck axle Market

  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. Sisu Axles, Inc.
  10. ZF Friedrichshafen AG
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Frequently Asked Questions

The automotive industry is developing advanced axle having light weight with enhanced load carrying capacity. The requirement of high load carrying axle from truck manufactures is driving the market. Also, emergence of the electric truck is creating lucrative opportunity for the market. Key factors that are driving growth of the market are growing demand for e-axle, and tandem axle at low prices.

The rigid axle segment is dominating the market and it is projected to dominate the truck axle market in the forecast period. Rigid axle account for the majority of demand in medium-duty and light-duty trucks application. Furthermore, increasing advances by key OEMs to increase the load capacity and reliability would boost the truck axle market in this category. The rise in consumer disposable income and goods purchase, especially in developing countries such as China, India, and Mexico, is driving demand for the medium trucks for intercity goods transportation, resulting it also creates demand for axle in medium-duty truck application.

The transportation industry in various developing countries such as India, China, and Brazil, is highly dependent on road transports. Rise in population and increase in demand for goods in emerging markets are the major factors supporting the truck axle market. Electrification of trucks, automation in manufacturing processes, and rise in sales in developing nations are creating a lucrative opportunity for the market. The key industries driving the truck axle market in developing countries include construction, healthcare & pharmaceuticals, retail & e-commerce, food & beverages, agriculture & forestry, transportation, waste & recycling, and military & defense.

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