Focus on Engineering Innovations for Better Performance to Benefit Automotive Axle Market
Market Scope
Market
Research Future (MRFR) anticipates that the automotive axle market 2020 can
procure considerable gains at a high rate between 2016 and 2022 (appraisal
period). We will provide COVID-19 impact analysis with the report, offering an
in-depth review of the market following the coronavirus disease outbreak.
COVID-19 Analysis
The onset of
novel coronavirus led to significant impact on all the industries, which also
includes the automotive sector. The short term impact pertains to manufacturing
units being shut down following the lockdown policy imposed by the governments.
Production units are also faced with issues including lack of staff due to
social distancing practice due to the pandemic. The impact of SARS-CoV-2 has
led to showrooms being closed shut, in addition to a downfall in vehicle sales in
every part of the world. The automotive industry is struggling in the light of economic
crisis due to the COVID-19 outbreak, coupled with disruption in the supply
chain network across the globe.
With that
said, the automotive industry and related markets can expect some respite as a
result of various mitigation measures being taken by governments in several
regions. For instance, the European Union is backing the automotive industry
with the Pandemic Emergency Purchase Program, which helps buy commercial papers
and sovereign bonds from the commercial firms and member states while
maintaining liquidity within the financial system. EU has also relaxed its regulations
and is willing to expand the size of any asset purchase for extended period. With
the advent of contingency plans across countries and financial institutions proposing
relief plans, the automotive industry and in turn, the automotive axle market can
make a strong comeback the COVID-19 impact.
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Primary
Boosters and Key Deterrents
The surge in
worldwide vehicle production and the increasing preference for luxury and hybrid
vehicles featuring modern technologies are some of the major growth enhancers
in the automotive axle market. The increasing commercialization of the latest technologies
to bring down the overall weight of the vehicle also helps boost the demand for
automotive axle in the market.
Furthermore,
the mounting production level of autonomous and semi-autonomous vehicles integrated
with innovative technologies can boost vehicle sales and consequently drive the
demand for automotive axles. The increasing popularity of road freight
transport has also led to considerable market gains in recent years and the
trend can remain the same even in the coming years.
In the wake
of mounting concerns regarding the environment and carbon emission’s toxic
effects on it, consumers now prefer vehicles that emit lower amount of smoke
and consume less fuel, which has led to higher sales of hybrid vehicles. Hybrid
vehicles function backed by various power sources that bring down the level of fuel
consumption and also improve the driving experience. In a nutshell, the higher
the sales of hybrid vehicles, the more demand automotive axles can witness in
the near future.
Market Segmentation
The report
aims to provide an enhanced assessment; therefore the study segments the market
with respect to type, material as well as propeller shaft type.
The types of
automotive axle in the market include front axle as well as rear axle.
The market
categories, in terms of material, are carbon fiber and alloy.
The propeller
shaft types are single and multi-piece.
Regional Study
North
America, APAC/Asia Pacific, MEA/Middle East & Africa and Europe have been
identified as the key markets for automotive axle in the study.
APAC has
emerged as the biggest gainer in the global market, because of the high automotive
sales in India and China. Both these countries boast of an enormous automotive
industry, which works in favor of the axle industry. High availability of cheap
labor and frequent advancements in engineering along with the increasing vehicle
production are boosting the demand for automotive axle in the region. Rising
prevalence of speed trains and the introduction of government initiatives like Make
in India campaign that facilitates 100% foreign direct investment can also aid
in more revenue generation during the appraisal period.
Europe has
established itself as the second leading market on account of the expansive automotive
sector present in the U.K., Italy and Germany. The massive speed train network and
the surging air pollution are other factors that induce the sales of e-axles
across the region. Incentives such as free parking space and tax benefits offered
by the government promote the sale of electric vehicles. The soaring demand for
electric vehicles is bound to benefit the automotive axles market in the
approaching years.Significant
Competitors
Significant
competitors in the automotive axle industry include Meritor Inc. (U.S.), ELBE
Gelenkwellen-Service GmbH (Germany), GKN Plc (U.K.), American Axle &
Manufacturing, Inc. (U.S.), Showa Corporation (Japan), ZF Friedrichshafen AG
(Germany), to mention a few.
Recent News
June 2020
Toyota is
ready to launch its broad line-up of GR Yaris models in Japan. The all-wheel
drive boasts of various technical innovations such as an engine offset at the
vehicle’s center along with a new rear axle. It is said that 60 percent of the power
distribution could go to the front axle.
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Key Questions
Addressed by the Report
- What was the historic market size?
- Which segmentation (Product/
Capacity) is driving market?
- What will be the growth rate?
- How are the key players in this
market?
- What are the strategies adopted by
key players?
TABLE OF
CONTENTS
1 EXECUTIVE
SUMMARY
2 SCOPE OF
THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET
LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN
ANALYSIS
4 MARKET
DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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