Global Commercial Vehicle Axles Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Commercial Vehicle Axles Market 2021 (Includes Business Impact of COVID-19)
Global Commercial Vehicle Axles Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global commercial vehicle axles market report has been segmented on the basis of position, type, working, application, and region.
Request Covid - 19 Impact
The global Commercial Vehicle Axles market size was valued at USD $ 192.94 million in 2020 and is projected to reach USD $254.06 million by 2030, and is anticipated to expand at a CAGR of 2.79% over the forecast period from 2020 to 2030.


Global Commercial Vehicle Axles Market: Overview


Axles are an integral component of most practical wheeled vehicles. Commercial vehicle axles having various types such as semi-floating axle, three quarter floating axle, full floating axle, and by working, live axle, and dead axle.


Global Commercial Vehicle Axles Market: Dynamics


Rising demand for commercial vehicle especially heavy commercial vehicle is expected to boost the growth of the global market over the forecast period. In addition, the availability of the commercial vehicle in a wide range of sizes and colors is also anticipated to fuel demand for commercial vehicle axles and drives growth of the global market during the long run.

In addition, rising demand for technologically advanced vehicle axles for the safety of the passengers, is a lucrative opportunity for growth of the global market during the forecast period.

However, the high cost of commercial vehicle is a key factor which may impede demand and restrain growth of the global market subsequently over the forecast period.


Global Commercial Vehicle Axles Market: Segment Analysis


Among the position, the front axle segment is expected to account for the significant growth in the global commercial vehicle axles market, owing to increasing adoption of front axle as front axle carries.

Among the type, the semi-floating axle segment contributes leading share in the global commercial vehicle axles market, due to the increasing demand for semi-floating axles as compared to the full floating axle. Semi-floating axle is lighter in weight and has less manufacturing cost than full floating axles.


Global Commercial Vehicle Axles Market: Region Analysis


The North America commercial vehicle axles market has accounted for the leading revenue share in the global market due to the increasing adoption of the commercial vehicles in countries in the region followed by Europe.

The Asia Pacific market is projected to register a significant growth rate in terms of revenue in the global market during the forecast period, owing to increasing transportation activities which rises the demand for commercial vehicles in countries such as Japan, India, Korea, and China in the region.

The Latin America market is expected to register a moderate growth rate in the global target market over the forecast period.


Below are the active patents related to Commercial Vehicle Axles Market.


Patent Number: US7862058B2

Fabricated vehicle axle

Abstract

A fabricated vehicle axle is provided with a single piece main body having an inverted U-shaped configuration. The ends of the main body are curved upwardly to define a pair of gooseneck portions. A first king pin fixture having a king pin bore is secured to one of the gooseneck portions, while a second king pin fixture having a king pin bore is secured to the other gooseneck portion. A bottom plate is secured to the main body and has ends extending beyond the gooseneck portions to provide seats for the king pin fixtures.

Application filed Date: 2008-03-12

Application granted Date: 2011-01-04

Current Assignee: Hendrickson USA LLC

Patent Number: EP2239155A1

Axle construction for a vehicle, in particular a commercial vehicle

Abstract

The construction has an unguided rigid axle (1) for directly or indirectly carrying vehicle wheels (2, 3). The rigid axle is formed such that the vehicle wheels are arranged at a positive camber angle (epsilon) of 0 degree to 0.5 degree on the rigid axle. The rigid axle is flexibly deformed with an unloaded vehicle such that the vehicle wheels are arranged at a camber angle of 0 degree to 0.3 degree on the rigid axle. An independent claim is also included for a method for manufacturing an axle construction for a vehicle i.e. commercial vehicle.

Application filed Date: 2010-02-02

Application granted Date: 2012-06-06

Current Assignee: MAN Truck and Bus SE

Global Commercial Vehicle Axles Market Segmentation:

Segmentation by Position:

  
Front Axle
  
Rear Axle

Segmentation by Type:

  
Semi-Floating Axle
  
Three Quarter Floating Axle
  
Full Floating Axle

Segmentation by Working:

  
Live Axle
  
Dead Axle

Segmentation by Application:

  
Freight Transport
  
Passenger Transport


Key Market Players included in the report:


  
AAM
  
AxleTech International
  
BPW Group
  
CNHTC
  
DANA
  
Dongfeng DANA
  
FAW Heavy
  
Guangxi Fangsheng
  
IJT Technology Holdings
  
Korea Flange
  
Meritor
  
PRESS KOGYO
  
Qingte Group
  
RABA
  
SAF-HOLLAND
  
SG Automotive Group
  
Shaanxi HanDe
  
ZF
  
Zoomlion


Below are the key development related to Commercial Vehicle Axles Market in 2020 and 2021.


December 2020: LG and Magna announce billion dollar joint venture in electric car gear. South Korea-based LG Electronics and automotive supplier Magna International are launching a joint venture that will make key components for electric cars, the companies announced on Wednesday. The joint venture, tentatively called LG Magna e-Powertrain and valued at $1 billion, will manufacture e-motors, inverters and onboard chargers, according to LG Electronics. The deal expands a wave of consolidation among suppliers aiming to capture a growing market for electric vehicle, e-axle systems, which combine electric motors, power controls and driving gears in one unit. Source

May 2021: American Axle & Manufacturing And REE Automotive To Jointly Develop New Electric Propulsion System For e-Mobility. REE is in the process of merging with 10X Capital Venture Acquisition Corp to become a publicly listed company. American Axle & Manufacturing Inc and REE Automotive announced that the companies have agreed to jointly develop a new electric propulsion system for e-Mobility. REE is in the process of merging with 10X Capital Venture Acquisition Corp to become a publicly listed company. Pursuant to the recently signed agreement, the parties intend to leverage AAMs system integration capabilities and focus on NVH (noise, vibration and harshness) reduction to incorporate AAMs lightweight and efficient next generation electric drive units, which feature fully integrated high-speed motors and inverter technology, into REEs highly modular and disruptive REEcorner technology that enables a fully-flat EV chassis for multiple commercial vehicle applications. The REEcorner integrates critical vehicle components (steering, braking, suspension, powertrain and control) into the area between the chassis and the wheel to deliver significant functional and economic advantages. Source