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Truck axle Market to Grow at a CAGR of 4.9% to reach US$ 2032.00 million from 2020 to 2028

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Truck axle Market to Grow at a CAGR of 4.9% to reach US$ 2032.00 million from 2020 to 2028

April 30
23:38 2021
Truck axle Market to Grow at a CAGR of 4.9% to reach US$ 2032.00 million from 2020 to 2028
Truck Axle Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type (Rigid Axles, Drive Steer Axles, and Non-Drive Steer Axles) and Application (Light-Duty Trucks, Medium-Duty Trucks, and Heavy-Duty Trucks)

The truck axle market was valued at US$ 1440.01 million in 2020 and is projected to reach US$ 2032.00 million by 2028. The truck axle market is expected to grow at a CAGR of 4.9% during 2021–2028.

Automotive components are getting evolved at rapid rate with advancement in designs, sizes, and materials. The truck axles are getting lighter in weight and enhanced with load carrying capacity with advanced design to enhance fuel efficiency and performance of trucks. Medium and heavy-duty trucks (M&HDT) ranging from class 3–8, use truck axles to their efficiently manage their load and increase weight carrying capacity. Rigid axles are majorly used in rigid trucks. A larger number of rigid trucks are used in different applications than articulated trucks, which is a key factor driving the growth of the market for rigid axles segment. The robust construction of rigid axles makes them the most preferred solution in commercial trucks operating off-road and on highways.  

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The List of Companies:

  1. American Axle & Manufacturing, Inc.
  2. Dana Limited
  3. Meritor, Inc.
  4. Qingte Group Co., Ltd.
  5. Rába Automotive Holding Plc.
  7. Shandong Heavy Industry Group Co., Ltd.
  8. Sinotruk (Hong Kong) Limited
  9. Sisu Axles, Inc.
  10. ZF Friedrichshafen AG

The latest research report on the “Truck Axle Market – Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2028” provides a comprehensive assessment of the Truck Axle market for the forecast period from 2020 to 2028, including market values for the years 2018 and 2019. The investigative report provides a detailed analysis of the impact of COVID-19 on various segments in the Truck Axle market based on product type, application, and end-use across numerous countries around the world. Further, the report also provides insights into market developments, trends, supply and demand changes across various regions across the globe. Thereby, the report provides a holistic view on the Truck Axle Market in order to help decision makers with various strategic insights and future outlook. The Truck Axle market is expected to witness continued growth during the forecast period from 2020 to 2028.

This is a professional and in-depth study on the current state of the Truck Axle Market with a basic overview of the industry including definitions, classifications, applications and industry chain structure. The Strategic Insights and Development plans are also discussed and manufacturing processes and cost structures analyzed. Truck Axle Market import/export consumption, supply and demand figures and cost price and production value gross margins are also provided.

The report focuses on global major leading Truck Axle Market players providing information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. Upstream raw materials and equipment and downstream demand analysis is also carried out.

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Reasons to Buy

  • Highlights key business priorities to assist companies realign their business strategies.
  • Features key findings and crucial progressive industry trends in the global Truck Axle market, thereby allowing players to develop effective long-term strategies.
  • Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
  • Scrutinizes in-depth market trends as well as key market drivers and restraints.
  • Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

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