Automotive Axle Market is Anticipated to Increase at a Stable CAGR over the Forecast Period (2023 to 2029)

The global automotive axle market is anticipated to grow at a considerable CAGR of 1.5% during the forecast period (2023-2030). The growing developments in the automotive axle market are driving the growth of the global automotive axle market. For instance, in September 2022, Automotive supplier Hitachi Astemo signed a contract with Honda to manufacture electric axles for the carmaker’s medium and large battery electric vehicles (EVs) from 2026. At the same time, Hitachi Astemo aims to additionally expand its electrification business. As a system integrator, Hitachi Astemo is to supply a high-performance, integrated drive unit for Honda. According to the supplier, the e-axle system combines a silicon carbide inverter, a low-loss and efficient motor and a compact transmission from an external manufacturer. 

Further, in June 2022, Schaeffler has developed 4-in-1 electric axle. This axle integrates thermal management system as well as the electric motor, power electronics, and transmission into the axle drive. This makes the axle drive more compact and lighter and ensures greater comfort. Furthermore, in August 2019, Meritor, Inc. has grown its manufacturing footprint in India by 25.0% with a $36.5 million axle assembly facility at Automotive Axles, its joint venture with Kalyani Group in Mysore, India. Meritor, the Troy, Michigan-based maker of drivetrain, mobility, braking and aftermarket components for commercial vehicle and industrial markets, also is opening a research and development center in Mysore. The new facilities in India are anticipated to support the company’s market positions. The new assembly facility will serve customers in the commercial vehicle, off-highway and defense sectors.

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Market Coverage

•                 The market number available for – 2022-2030

•                 Base year- 2022

•                 Forecast period- 2023-2030

Segment Covered- 

•                 By Type

•                 By Application

•                 By Vehicle Type

Regions Covered-

•                 North America

•                 Europe

•                 Asia-Pacific

•                 Rest of the World

•                 Competitive Landscape- including American Axle & Manufacturing, Inc., Dana Inc., Daimler AG, GNA Group, and Meritor Inc., among others.

Automotive Axle Market Report Segment

By Type 

•                 Drive

•                 Dead

•                 Lift 

By Application

•                 Front

•                 Rear

By Vehicle Type

•                 Passenger Cars

•                 Light Commercial Vehicle (LCV)

•                 Heavy Commercial Vehicle (HCV) 

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Automotive Axle Market Report Segment by Region

North America                                                                                                           

·        United States

·        Canada                     

Europe

·        UK

·        Germany

·        Spain

·        France

·        Italy

·        Rest of Europe

Asia-Pacific

·                  India

·                  China

·                  Japan              

·                  South Korea

·                  Rest of APAC

Rest of the World

•       Latin America

•       Middle East and Africa 

Company Profiles 

•                 American Axle & Manufacturing, Inc.

•                 Daimler AG

•                 Dana Inc.

•                 GNA Group

•                 Melrose Industries PLC

•                 Meritor Inc.

•                 Talbros Engineering Ltd.

•                 ZF Friedrichshafen AG

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