The truck axle market share is estimated to grow at a CAGR of 4.84% between 2022 and 2027. The size of the market is forecast to increase by USD 3,984.36 million. The truck axle market will witness a YOY of 4.68% in 2023.
“Improvements in supply chain strategies and Development of intelligent truck axles will boost the market growth”, says a senior analyst at Technavio.
Browse Technavio's 167-page report and in-depth TOC on "Truck Axle Market by application (light-duty trucks, heavy-duty trucks, and medium-duty trucks), type (rigid axles, drive steer axles, and non-drive steer axles), and geography (APAC, North America, Europe, South America, and the Middle East and Africa).
View detailed Table of Contents Here: https://www.technavio.com/report/truck-axle-market-industry-analysis
The truck axle market growth by the light-duty truck segment will be significant during 2023-2027. The increasing demand for light-duty trucks is resulting in a rise in demand for light-duty truck axles and technological advancements in light-duty truck axles to support the improvement in fuel efficiency. APAC will contribute 69% of the growth rate during the forecast period.
Some of the key truck axle market vendors are All Truck Parts Ltd., American Axle and Manufacturing Holdings Inc., Automotive Axles Ltd., BRIST Axle Systems Srl LLC, Cardone Industries Inc., Dana Inc., Hendrickson Holdings LLC, Kross Ltd., Magna International Inc., Mercedes Benz Group AG, Meritor Inc., Press Kogyo Co. Ltd., Qingte Group Co. Ltd., Raba Automotive Holding Plc, SAF-HOLLAND SE, Shandong Heavy Industry Group Co. Ltd., Sinotruk Hong Kong Ltd., Sisu Axles Inc., Vikrant Group, and ZF Friedrichshafen AG.
Some of the Vendor Offerings are:
aam.com- The company offers truck axles such as Front axles and Rear beam axles.
autoaxle.com- The company offers truck axles such as Drive Axles MSO4.
Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. Download the PDF Sample Report
The truck axle market report covers in-depth information about key vendors and their product offerings.
The key driver, trends and challenges, market opportunities, and the detailed market impact analysis
Five force analysis to analyze the potential of buyers and suppliers and the competitive industry scenario.
Truck axle industry across APAC, North America, Europe, South America, and the Middle East and Africa.