The automotive sector is one of the booming sectors currently, and is expected to witness significant growth during the forecast period. The automotive sector is presently more inclined towards customer safety and comfort as well as improved performance. In addition, emission norms passed in various regions is fueling the usage of light-weight rear axles in the automotive sector.
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Rear Axle is one of the most important components used in a vehicle’s manufacturing process. A drive axle system is driven by the engine where the axle transmits torque to the wheel. It also maintains the proximity of the wheels relative to one another when the vehicle is in motion. The rear axles also ensure the stability in vehicles by distributing the weight of the vehicle equally in all its part. A non-driving axle such as the dead axle in heavy vehicles and light trucks do not have shafts and serves only as a steering component and suspension.
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Drive axle, dead axle and lift axle are the major types of rear axle commodities used in vehicles. The application and use of rear axles in railways is also of utmost significance. Straight rear axles are used for the engine of the trains and straight dead axles are used for the wagons. A straight axle is a rigid shaft which connects the left side of the wheel to the right side. This ensures the fixed axis rotation of both the wheels and such design keep the wheels stable under difficult situations.
The major type of rear axles is applicable in all vehicles and therefore the increasing demand for automobiles is directly driving the market for rear axle components. Need for compliance with various emission norms, changing customer demands along with safety, and comfort and security needs are boosting the demand for rear axles. Moreover, the demand for luxury vehicles and passenger vehicles is expected to experience exponential growth owing to higher amount of disposable income in developing regions fueling the demand for automotive components including rear axles. Furthermore, growing demand for fuel-efficient vehicles with light-weight rear axle components is also expected to drive the rear axle commodity market globally.
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Major market participants profiled in this report include American Axle Manufacturing Inc., (U.S.), Meritor Inc., (U.S.), GNA Axles Limited (India), Talbros Engineering Limited (India), ROC Spicer Limited (Taiwan) and Daimler Trucks North America LLC (U.S.).
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