Trailer Axle Market Is Primarily Driven By High Demand For Heavy-Duty Trailers Across The Globe
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The axle is a spindle or central rod of a rotating gear or wheel in an automotive, that promotes the motion of the vehicle. Axles are fixed between two wheels to connect them with each other, and it rotates the wheel in either anti-clockwise or clockwise direction. In addition, the axle is controlled steering movement in the vehicle and are used in various vehicles such as trailers, cars, buses, trucks, and others. Furthermore, the various types of trailer axle such as 8,000-15,000 lbs, lower than 8,000 lbs, and others easily available across the globe.
Expanding the automotive sector in various major countries and increasing production and sales of heavy vehicles across the globe are major factors supporting growth of the target products globally. In addition, rising technological advancement in vehicles and increasing demand for heavy-duty trailers in various regions are other reasons for the high growth of the trailer axle across the globe.
Increasing requirement of comfortable vehicles and quieter cabin among consumers and reducing vehicles maintenance cost are some important factors that support growth of the target product globally. In addition, growing demand for fuel-efficient and lightweight vehicles across the globe is the main reason for the high growth of the target market in various regions.
Furthermore, increasing penetration of various lightweight materials such as magnesium, steel, Glass Fiber-Reinforced Polymer (GFRP), and aluminum that are used for the manufacturing of axle is another reason for growth of the target product across the globe. Increasing adoption of heavy trailers in industries such as construction and others for the transportation of goods across the globe and rising production of trailers in developing and developed countries are other factors helps for growth of the trailer axle globally.
$ 6,233.7 Mn
- By Type
- By Region
- By Application
$ XXXX Mn
Moreover, increasing technological advancement, speed, driving comfort, engineering, and safety in vehicles by major manufacturers and expanding heavy vehicle sector across the globe are other factors drive demand for trailer axle across the globe. Rising penetration of medium weight trailers and lightweight trailers in various regions is another factor drive demand for trailer axle across the globe.
However, changing raw material prices such as alloy and steel of carbon and aluminum that are used in trailer axle manufacturing may hamper growth of the target market.
High adoption of trailer trucks among various industries and increasing government promotional activities of fuel-saving technologies in the countries such as Canada and US in the North America region helps to support for growth of the trailer axle market. In addition, the high presence of heavy-duty trailers manufacturers and high adoption of heavy-duty trailers for goods transportation in the countries such as Japan, India, and China in the Asia Pacific region. Trailer axle market in Europe followed by the Middle East & Africa and Latin America will register moderate growth, owing to the increasing number of trailer axle manufacturers and suppliers in the countries such as France, UK, Germany, Italy, Israel, Brazil, Mexico, and South Africa in these regions.
Prominent players operating in the global trailer axle market including Meritor, DexKo, BPW Group, JOST Axle Systems, Fuwa-K-Hitch, SAF-HOLLAND, Shandong Huayue, Hendrickson, and TND Trailer Axle.
Steven Burnett has over 15 years of experience spanning a wide range of industries and domains. He has a flair for collating statistical data through extensive research practices, and is well-versed in generating industry-specific reports that enables his clients to better comprehend a market’s landscape and aid in making well-informed decisions. His hobbies include playing football and the guitar.