Rear Axle Commodity Market to Witness Comprehensive Growth by 2024
Transparency
Market Research has published a new report that presents a
comprehensive overview of the global real axle commodity market. The
report provides insights into the factors driving the global real
axle commodity market and the restraints that the market is likely to
face in the forthcoming years. The report is titled “Rear Axle
Commodity Market - Global Industry Analysis, Size, Share, Growth,
Trends and Forecast 2014 - 2020” and is available on the company
website for sale.
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Report Overview @
Based
on in-depth research, the report states that the global real axle
market, which stood at US$35.8 bn in 2013, will reach US$45.9 bn in
2020. If the figures estimated in the report hold true, the market
will exhibit a moderate yet positive CAGR of 3.7% during 2014-2020.
Rear axle commodity affixed to a vehicle is crucial for its
functioning, since it bears the entire weight of the vehicle, cargo,
as well as passengers. Automotive axles also provide torque to
wheels, apart from ensuring stability of the vehicle. Since real
axles bear the maximum mechanical wear and tear, manufacturers strive
to provide maximum safety, comfort, efficiency, and
cost-effectiveness in their product offerings. Presently,
manufacturers are focusing on developing more efficient yet
lightweight rear axles with enhanced ratios and lesser power loss.
This has led to the launch of improved rear axles with enhanced
power, which in turn boosts the global market for rear axle
commodity.
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Sample Report @
For
the purpose of the study, the report segments the rear axle commodity
market into lift axle, dead axle, and drive axle. Of these, the drive
axle segment accounts for a majority share of the global real axle
commodity market. In terms of application, the market is classified
into economy vehicles, heavy vehicles, luxury vehicles, SUVs, MUVs,
executive vehicles, and railways. Economy vehicles dominate the
global rear axle commodity market at present. The use of rear axles
is also very significant for railways, since it lends stability to
the engine and wagons, particularly under difficult conditions.
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Rear Axle Commodity Market Report Brochure @
Key
regional segments of the global rear axle commodity market include
North America, Asia Pacific, Europe, and Rest of the World. At
present, Europe dominates the global market. However, the report
cites that the automotive industry in North America and Europe has
already reached maturity, hence the rear axle commodity market will
not experience much gains from these markets. On the other hand,
emerging markets in Asia Pacific exhibits impressive opportunities,
making the region the fastest growing market for rear axle commodity.
Robust development of the automotive industry in Asia Pacific is
anticipated to boost the demand for rear axle commodity in the
region.
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Rear Axle Commodity Market Research Report @
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