May 20, 2021   SOURCE: BusinessWire

Global Truck Axle Market Forecast to 2028: Increase in Focus on New Product Development / Advancements in Manufacturing Processes / Advent of Electrification in Truck Market - ResearchAndMarkets.com

The "Truck Axle Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type and Application" report has been added to ResearchAndMarkets.com's offering.

In 2020, APAC led the global truck axle market with the highest revenue share. North America has strong penetration of electrical trucks, which is creating lucrative opportunity for the market. Also, owing to increased adoption of medium-duty trucks, the Asian market is expected to witness massive growth in the truck axle market.

In developing nations of India and China, the market is driven by the growing consumption of light-duty trucks for personal use. Therefore, the adoption of truck axle to improve payload capacity of truck is rising. China is one of the major countries with a significant market share in the truck axle market. European countries such as the UK, Italy, and France are shifting toward electric mobility, which is driving the market growth.

In North America, the US is the most developed country as it is an early adopter of technologies. Hence, the scope of the electric axles (e-axles) is high in North America. Moreover, the economic growth has propelled the sales of light-duty trucks in the North America, which, in turn, has supported the growth of the truck components market in North America.

This factor encourages truck axle providers to increase their focus to develop or innovate truck axle for a range of applications.

Key Topics Covered:

1. Introduction

1.1 Study Scope

1.2 Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

4. Truck Axle Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.3 Ecosystem Analysis

4.4 Expert Opinions

5. Truck Axle Market - Key Market Dynamics

5.1 Market Drivers

5.1.1 Increase in Focus on New Product Development

5.1.2 Advancements in Manufacturing Processes

5.2 Market Restraints

5.2.1 High Manufacturing and Maintenance Cost of Trucks

5.3 Market Opportunities

5.3.1 Surge in Production of Trucks in Developing Countries

5.4 Future Trends

5.4.1 Advent of Electrification in Truck Market

5.5 Impact Analysis of Drivers and Restraints

6. Truck Axle - Global Market Analysis

6.1 Global Truck Axles Market Overview

6.2 Global Truck Axle Market Revenue Forecast and Analysis

6.3 Market Positioning - Five Key Players

7. Truck Axle Market Revenue and Forecast to 2028 - Type

7.1 Overview

7.2 Truck Axle Market, by Type (2020 and 2028)

7.3 Rigid Axles

7.4 Drive Steer Axles

7.5 Non-drive Steer Axles

8. Truck Axle Market Revenue and Forecast to 2028 - Application

8.1 Overview

8.2 Truck Axle Market, by Application (2020 and 2028)

8.3 Light-Duty Trucks

8.4 Medium-Duty Trucks

8.5 High-Duty Trucks

9. Truck Axle Market - Geographic Analysis

9.1 Overview

10. Truck Axle Market - COVID-19 Impact Analysis

10.1 Overview

11. Industry Landscape

11.1 Overview

11.2 Market Initiative

12. Company Profiles

12.1 Key Facts

12.2 Business Description

12.3 Products and Services

12.4 Financial Overview

12.5 SWOT Analysis

12.6 Key Developments

  • American Axle & Manufacturing, Inc.
  • Dana Limited
  • Meritor, Inc.
  • Qingte Group Co., Ltd.
  • Raba Automotive Holding Plc.
  • SAF-HOLLAND SE
  • Shandong Heavy Industry Group Co., Ltd.
  • Sinotruk (Hong Kong) Limited
  • Sisu Axles, Inc.
  • ZF Friedrichshafen AG

For more information about this report visit https://www.researchandmarkets.com/r/t613tp