Infinium Global Research has added a new report on “Rear Axle Commodity Market (Type – Lift Axle, Dead Axle, and Drive Axle; Application – SUVs, MUVs, Luxury Vehicles, Heavy Vehicles, and Economy Vehicles): Global Industry Analysis, Trends, Market Size and Forecasts to 2024.”
The report covers the analysis of global as well as regional markets of Rear Axle Commodity. Moreover, the report gives insights into the factors that affect the global as well as regional performance of the market in the short run and in the long run.
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Lightweight Automotive Parts to Promote Growth in the Rear Axle Commodity Market Over 2018 To 2024
Increasing need for fuel-efficient vehicles along with lightweight automotive parts are the factors driving the growth of the rear axle commodity market. However, hike in fuel prices, expensive vehicle cost and inflation in various countries is likely to affect the sales of the rear axle commodity industry. On the other hand, the suppliers are working together with the automobile manufacturers to develop improved and efficient products.
Furthermore, the rise in fuel prices globally have become the prime concern for the consumers and the demand for passenger vehicles is expected to provide several growth opportunities for the key players in the rear axle commodity market. In addition, need for compliance with various emissions norms, changing consumer demand along with safety comfort and security needs are enhancing the demand for the rear axle’s commodity market over the years to come.
Europe Region to Contribute to Growth in the Rear Axle Commodity Market over the Next 6 Years
Europe holds the largest share in the rear axle commodity industry followed by Asia pacific. Omkar Harne a research analyst at Infinium Global Research quoted that, leading companies are setting up manufacturing plants in countries such as China, India, and Brazil along with Russia and countries in Eastern Europe due to the low cost of manufacturing vehicles. Omkar Harne further stated that, the increasing demand for All Wheel Drive (AWD) vehicles is anticipated to serve as a great opportunity for the rear axle manufacturers in the Europe and North American regions.
Mergers and Acquisitions to Remain Key Expansion Strategies of the Leading Players in the Rear Axle Commodity Market “between” 2018-2024
The key participants in this market are American Axle Manufacturing Inc., Meritor Inc,GNA Axles Limited Talbros Engineering Limited ,ROC Spicer Limited and Daimler Trucks North America LLC .
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