Market Overview:
The global truck drive axles market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for commercial vehicles, especially in developing countries such as China and India. Additionally, the increasing focus on fuel efficiency and emissions reduction is also driving the demand for truck drive axles globally. The global truck drive axles market can be segmented on the basis of type into single axle, tandem axle, and tridem axle. The single axle segment is expected to account for a major share of the global truck drive axles market during the forecast period owing to its low cost and easy installation.
Product Definition:
The two axles at the rear of a truck that transmit power from the engine to the drive wheels. Truck drive axles are important because they provide power to the drive wheels, allowing the truck to move.
Single:
Single is a type of drive axle used in trucks. It's the simplest and cheapest form of drive system, which is widely used in truck manufacturing. The growth factor for this market is high as compared to any other market due to its usage in almost all types of trucks that are manufactured globally. Single wheeled vehicles are mostly found only in Asia Pacific region due to low cost and better performance as compared to four-wheeled vehicles.
Tandem:
Tandem is a connection of two or more vehicles that are connected by a common rear axle. The most commonly used tandem consists of two trucks, the lead truck has a drive shaft which is connected to the rear wheel of the second truck. In case of three or more vehicles, there will be another set of wheels at the rear end connecting all other vehicles.
Application Insights:
The light-duty truck application segment accounted for the largest revenue share of over 60% in 2017. The demand for light-duty trucks is expected to be high in developing countries owing to the rising population and rapid urbanization, which will further increase product penetration. Furthermore, increasing consumer preference for a car with four wheels and a diesel engine will boost sales of LD trucks.
Light-duty trucks are majorly used for transporting goods within cities or between cities and their surrounding areas. They are also used by companies offering intermodal services that transport cargo via train as well as ship from origin to destination across various oceans such as Pacific Ocean and Atlantic Ocean. Companies offering these services prefer lightweight vehicles that have lower maintenance cost associated with them thereby driving demand globally for LD Trucks application segmentation over the forecast period 2018 - 2030 ¢â‚¬â€œ2030.
Regional Analysis:
The Asia Pacific region dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to increasing investments in road infrastructure, coupled with rising demand for commercial vehicles. Furthermore, growing industrialization and rapid urbanization are also contributing toward increased demand for heavy-duty trucks in this region.
Europe accounted for a significant share of the overall revenue due to high demand from countries such as Germany, France and Russia among others. Moreover, Latin America is projected to witness considerable growth over the coming years owing to increasing focus on public transportation systems along with rising government initiatives aimed at reducing carbon footprint by encouraging fuel-efficient commercial vehicles on a domestic level will further boost regional product sales over the next eight years (2030).
North America held a substantial share of global revenue owing to growing emphasis on safety features including airbags that protect drivers’ heads during accidents among other factors will drive product adoption rate across this region.
Growth Factors:
- Increasing demand for commercial vehicles: The global truck drive axle market is expected to grow at a CAGR of 5.5% during the forecast period, owing to the increasing demand for commercial vehicles from various end-use industries such as logistics, transportation, and manufacturing.
- Technological advancements: The market is witnessing technological advancements in terms of design and materials used in truck drive axles, which is resulting in improved performance and fuel efficiency. This is further propelling the growth of the market.
- Rising disposable income: Rising disposable income across developing countries has led to an increase in purchasing power, thereby augmenting the demand for commercial vehicles including trucks equipped with advanced truck drive axles systems that offer better fuel efficiency and performance levels compared to conventional systems.
Scope Of The Report
Report Attributes
Report Details
Report Title
Truck Drive Axles Market Research Report
By Type
Single, Tandem, Tridem
By Application
Light-Duty Truck, Medium-Duty Truck, Heavy-Duty Truck
By Companies
Dana Incorporated, Meritor, Mercedes-Benz, American Axle & Manufacturing, AXLETECH, SAF Holland, Dana Incorporated
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
130
Number of Tables & Figures
91
Customization Available
Yes, the report can be customized as per your need.
Global Truck Drive Axles Market Report Segments:
The global Truck Drive Axles market is segmented on the basis of:
Types
Single, Tandem, Tridem
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Light-Duty Truck, Medium-Duty Truck, Heavy-Duty Truck
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Dana Incorporated
- Meritor
- Mercedes-Benz
- American Axle & Manufacturing
- AXLETECH
- SAF Holland
- Dana Incorporated
Highlights of The Truck Drive Axles Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Single
- Tandem
- Tridem
- By Application:
- Light-Duty Truck
- Medium-Duty Truck
- Heavy-Duty Truck
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Truck Drive Axles Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Truck drive axles are the most common type of axle in use on trucks. They allow a truck to move forward and backward, as well as turn left and right.
Some of the major players in the truck drive axles market are Dana Incorporated, Meritor, Mercedes-Benz, American Axle & Manufacturing, AXLETECH, SAF Holland, Dana Incorporated.
The truck drive axles market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Truck Drive Axles Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Truck Drive Axles Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Truck Drive Axles Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Truck Drive Axles Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Truck Drive Axles Market Size & Forecast, 2018-2028
4.5.1 Truck Drive Axles Market Size and Y-o-Y Growth
4.5.2 Truck Drive Axles Market Absolute $ Opportunity
Chapter 5 Global Truck Drive Axles Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Truck Drive Axles Market Size Forecast by Type
5.2.1 Single
5.2.2 Tandem
5.2.3 Tridem
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Truck Drive Axles Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Truck Drive Axles Market Size Forecast by Applications
6.2.1 Light-Duty Truck
6.2.2 Medium-Duty Truck
6.2.3 Heavy-Duty Truck
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Truck Drive Axles Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Truck Drive Axles Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Truck Drive Axles Analysis and Forecast
9.1 Introduction
9.2 North America Truck Drive Axles Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Truck Drive Axles Market Size Forecast by Type
9.6.1 Single
9.6.2 Tandem
9.6.3 Tridem
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Truck Drive Axles Market Size Forecast by Applications
9.10.1 Light-Duty Truck
9.10.2 Medium-Duty Truck
9.10.3 Heavy-Duty Truck
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Truck Drive Axles Analysis and Forecast
10.1 Introduction
10.2 Europe Truck Drive Axles Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Truck Drive Axles Market Size Forecast by Type
10.6.1 Single
10.6.2 Tandem
10.6.3 Tridem
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Truck Drive Axles Market Size Forecast by Applications
10.10.1 Light-Duty Truck
10.10.2 Medium-Duty Truck
10.10.3 Heavy-Duty Truck
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Truck Drive Axles Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Truck Drive Axles Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Truck Drive Axles Market Size Forecast by Type
11.6.1 Single
11.6.2 Tandem
11.6.3 Tridem
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Truck Drive Axles Market Size Forecast by Applications
11.10.1 Light-Duty Truck
11.10.2 Medium-Duty Truck
11.10.3 Heavy-Duty Truck
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Truck Drive Axles Analysis and Forecast
12.1 Introduction
12.2 Latin America Truck Drive Axles Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Truck Drive Axles Market Size Forecast by Type
12.6.1 Single
12.6.2 Tandem
12.6.3 Tridem
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Truck Drive Axles Market Size Forecast by Applications
12.10.1 Light-Duty Truck
12.10.2 Medium-Duty Truck
12.10.3 Heavy-Duty Truck
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Truck Drive Axles Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Truck Drive Axles Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Truck Drive Axles Market Size Forecast by Type
13.6.1 Single
13.6.2 Tandem
13.6.3 Tridem
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Truck Drive Axles Market Size Forecast by Applications
13.10.1 Light-Duty Truck
13.10.2 Medium-Duty Truck
13.10.3 Heavy-Duty Truck
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Truck Drive Axles Market: Competitive Dashboard
14.2 Global Truck Drive Axles Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Dana Incorporated
14.3.2 Meritor
14.3.3 Mercedes-Benz
14.3.4 American Axle & Manufacturing
14.3.5 AXLETECH
14.3.6 SAF Holland
14.3.7 Dana Incorporated
