Global Commercial Vehicle Axle Market is forecast to grow at a CAGR of 5.04% during the period 2018-2022.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend affecting this market is the growing demand for e-axles in commercial vehicles. There is a growing preference for e-axles in plug-in hybrid and battery electric vehicles, as these axles provide better load distribution, thereby improving fuel economy. OEMs are focusing on increasing fuel efficiency due to stringent emission norms and the growing popularity of fuel-efficient vehicles among the end-users.
According to the report, one driver influencing this market is the rising demand for commercial vehicles in emerging countries. Increased connectivity of motorways and insufficient rail network in emerging countries such as India and China are driving road mode of freight transport. This is expected to drive the demand for additional commercial vehicles and induce OEMs to produce more commercial vehicle axles.
Further, the report states that one challenge affecting this market is the preference for freight trains to replace commercial vehicles for transportation. Freight transport by railways contributes far less emissions compared with road transport. Increasing preference for fuel-efficient and on-time transport for freight is driving the market for electric locomotive engines for freight transportation. Freight transportation by rail is estimated to be five times more fuel-efficient compared with freight transportation through road, as railways have the capacity to transport more cargo without being affected by traffic gridlock.
- American Axle & Manufacturing
Key Topics Covered
1. Executive Summary
2. Scope of the Report
3. Research Methodology
4. Market Landscape
5. Market Sizing
6. Five Forces Analysis
7. Market Segmentation by Application
8. Customer Landscape
9. Regional Landscape
10. Decision Framework
11. Drivers and Challenges
12. Market Trends
13. Vendor Landscape
14. Vendor Analysis
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