Commercial Vehicle Axles Market: Global Opportunity Analysis and Industry Forecast, 2017-2023
Portland, OR -- (SBWIRE) -- 08/28/2017 -- Commercial Vehicle Axle is a crucial component in the ever-rising domestic and international trade due to the emergence and growth of the e-commerce and logistic industry. Commercial vehicles are equipped with an axle, which is a central shaft for a rotating wheel or gear, and it bears the weight of the vehicle, including the cargo. Thus, commercial vehicle axles are manufactured focusing on the vehicle type and the application they perform due to the heavy load carried by these vehicles.
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The commercial vehicle market is segmented based on product, application, and geography. The product segment includes dead axle, live axle, and tandem axle. The applications covered in the report are freight transport and passenger transport. Geographically, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (India, China, Japan, Australia, South Korea, Taiwan, and rest of Asia-Pacific), and LAMEA (Brazil, Turkey, Saudi Arabia, South Africa, and rest of LAMEA).
Key players profiled in the report include American Axle & Manufacturing (U.S.), Meritor (U.S.), DANA (U.S.), Benteler (Germany), RABA (Hungary), Axle Tech International (U.S.), SAF Holland (Luxembourg), PRESS KOGYO (Japan), Korea Flange (South Korea), and Ankai Futian Shuguang (China)
- Dead Axle
- Live Axle
- Tandem Axle
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The global commercial vehicle axle market is driven by the rise in demand for commercial vehicles globally, especially heavy commercial vehicle due to the growth in international and domestic trade. Moreover, high demand for fuel efficiency and safety regulations pertaining to commercial vehicles is expected to drive the development of new technologies to improve the vehicle performance, creating a lucrative opportunity for growth. However, high cost of these vehicles due to use of advanced technology is expected to impede the market growth.
- Freight Transport
- Passenger Transport
- North America
o Rest of Europe
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