Wheel Axle Market
Wheel Axle Market Study by Below 300 Nm, 300 to 600 Nm, 600 to 900 Nm, 900 to 1,200 Nm, 1,200 to 1,500 Nm, and Above 1,500 Nm for Vehicles and Rail from 2024 to 2034
Analysis of Wheel Axle Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Wheel Axle Market Outlook (2024 to 2034)
Revenue from the global wheel axle market size is estimated to reach US$ 66.73 billion in 2024. The market has been projected to advance to a value of US$ 99.73 billion by the end of 2034, expanding at a CAGR of 4.1% (2024 to 2034).
An axle is a central shaft for a rotating wheel that can be fixed to the wheels, rotating with them, or fixed to its surroundings while the wheels rotate around it. These are essential components of a wheeled vehicle and can be classified as the front, rear, full-floating, or semi-floating axles.
On rear-wheel drive vehicles, the rear axle assembly consists of the differential assembly, the rear drive axle, and the rear axle housing. The vehicle's front wheels are mounted on the front axle, which supports their weight, facilitates steering, absorbs shocks transmitted by road surface irregularities, and absorbs torque applied during vehicle braking.
Key Market Growth Drivers
- The industrial sector is expanding, more so in developing countries, and advancements in commercial operations in logistics have led to significant demand for commercial vehicles which is boosting the market for wheel axles.
- Several governments are focusing on expanding transit facilities in their countries due to the growing population and rapid urbanization.
- Demand for rolling stock such as locomotives, carriages, and wagons is growing, as rail vehicles possess a high transportation capacity compared to other modes, thus expanding the wheel axle market size.
- The global wheel axle market is growing due to expansion in the automotive and transportation industries, introduction of electric axles in trailers, and strict emission regulations for transport refrigeration units.
- One of the main drivers of wheel axle market growth is the substantially rising demand for heavy-duty commercial vehicles, especially in developing countries such as China, India, and others.
- Need for heavy lifting operations is increasing as these are performed by heavy-duty commercial vehicles equipped with lift axles. These key factors are helping to drive up commercial vehicle sales in both developed and developing countries.
- Rising hybrid and electric vehicle sales are setting wheel axle market trends as governments across the globe are recognizing the importance of lowering carbon emissions in the transportation sector.
| Report Attribute | Detail |
|---|---|
| Wheel Axle Market Size (2024E) | US$ 66.73 Billion |
| Projected Market Value (2034F) | US$ 99.73 Billion |
| Global Market Growth Rate (2024 to 2034) | 4.1% CAGR |
| East Asia Market Growth Rate (2024 to 2034) | 4.6% CAGR |
| North America Market Share (2024E) | 26.8% |
| Vehicles Segment Value (2024E) | US$ 50.45 Billion |
| 600 to 900 Nm Segment Value (2024E) | US$ 17.08 Billion |
| Key Companies Profiled | Dana Incorporated; American Axle and Manufacturing Inc.; Daimler AG; Meritor Inc.; GNA Group; Melrose Industries Plc.; ZF Friedrichshafen AG; BorgWarner Inc.; Hyundai Wia Corporation; Talbros Engineering Limited. |
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What is Benefitting Manufacturers of Wheel Axles?
“Advancements in Automotive Industry Creating Opportunities for Axle Innovation”
The automotive industry's recent advancements have created opportunities for axle innovation in the sector. The latest axle innovation for heavy-duty commercial vehicles is aimed at improving maintenance and performance. The trend has resulted in changes in design to regenerate torque load requirements and include the appropriate axle for electric applications.
Development of drive and steer axles has prioritized meeting greenhouse emission regulations, downsizing, weight reduction, and torque-carrying qualities. Furthermore, as vehicle electrification and innovation continue, demand for drive axles with an electric powertrain grows.
Lightweight axles are also becoming more popular in electric vehicles, which are designed to be lightweight to increase efficiency. Various technological advancements and the increased use of composite materials in axles to reduce the weight of electric and hybrid vehicles are further boosting the market.
What are the Key Challenges Faced by Wheel Axle Manufacturers?
“Increasing Cost of Axles Impeding Market Expansion”
Rising cost of automotive axles is a key restraint on the global wheel axle market. Furthermore, technologically advanced and lightweight axles incur high initial and maintenance costs. These factors are likely to impede market growth over the forecast period.
- For example, according to data from the New York consulting firm AlixPartners, in August 2018, the average cost of raw materials for vehicles manufactured in North America was US$ 2,000 per vehicle, up US$ 221 from the same period the previous year.
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Country-wise Insights
North America is expected to hold a global wheel axle market share of 26.8% in 2024. Demand for heavy commercial vehicles is increasing in North America and Europe. Increased industrialization in China, Japan, and South Korea has boosted the regional economy, establishing East Asia as a global manufacturing powerhouse, especially in automotive production.
North America and Europe are projected to see substantial growth during the forecast period, thanks to the presence of major industry players. These companies are heavily investing in automotive technologies, which is set to increase the demand for automotive axles.
What are the Opportunities for Wheel Axle Companies in the United States?
“Integration of Sensors and Connectivity Enabling Real-Time Monitoring of Axles”
| Attribute | United States |
|---|---|
| Market Value (2024E) | US$ 7.53 Billion |
| Growth Rate (2024 to 2034) | 6.9% CAGR |
| Projected Value (2034F) | US$ 14.68 Billion |
The United States is estimated to account for a market share of 42.6% in North America in 2024. There is increasing demand for electric vehicles in the country which is presenting opportunities for specialized axle designs, also the introduction of lightweight axles will improve EV range and efficiency.
Developing environment-friendly manufacturing processes using recycled materials in axle manufacturing is also boosting their sales in the United States. The market in the country is also witnessing growth due to the integration of sensors and connectivity for real-time monitoring of these devices in the vehicles.
Why is Japan a Key Market for Wheel Axle Producers?
“Push toward Electric Vehicles Prompting Creation of Specialized Axle Designs”
| Attribute | Japan |
|---|---|
| Market Value (2024E) | US$ 5.91 Billion |
| Growth Rate (2024 to 2034) | 2.4% CAGR |
| Projected Value (2034F) | US$ 7.5 Billion |
Japan is expected to have a key impact in the East Asian market with a revenue share of 25.6% in 2024. Japan has major automakers like Toyota, Honda, and Nissan, and there is a strong domestic demand for high-quality automotive components. Japanese manufacturers are renowned for their cutting-edge technology, driving the demand for high-performance, innovative axle designs.
Strict quality control in manufacturing is generating a demand for premium axles in the country. Reputation for dependability and durability in automotive components. There is a large market for replacement axles due to Japan's aging vehicle population. Japanese-made vehicles and parts are exported globally, increasing demand for axles. Japan's push towards EVs is also creating opportunities for specialized axle designs.
Japan's extensive rail network and public transit systems are boosting demand for axles. Key players are making significant R&D investments in automotive technology, including axle innovations. With Japanese culture valuing efficiency, there is a strong demand for fuel-efficient vehicle components, leading to potential growth in the market for wheel axles.
Category-wise Insights
There is a global increase in vehicle manufacturing, particularly in developing countries; as more vehicles are entering the market, demand for axles is rising accordingly. The expansion of the EV market necessitates specialized axle designs. There is a focus on lightweight axles to increase range and efficiency.
There is a high demand for more efficient and durable axle systems, which is driving interest in SUVs and off-road vehicles. There is also a need for strong axles that can handle difficult terrain. Globally, aging vehicle fleets are driving up demand for replacement axles. Increased logistics and transportation activities are driving up demand for heavy-duty axles.
Which End Use Accounts for Significant Sales of Wheel Axles?
“Extensive Use of Specialized Axle Designs in Electric Vehicles”
| Attribute | Vehicle |
|---|---|
| Segment Value (2024E) | US$ 50.44 Billion |
| Growth Rate (2024 to 2034) | 3.5% CAGR |
| Projected Value (2034F) | US$ 71.4 Billion |
Lightweight axles are becoming more popular in electric vehicles, which are intended to be lightweight to improve efficiency. Various technological advancements, as well as increased use of composite materials in axles to reduce the weight of electric and hybrid vehicles, are driving market growth.
Which Benefits Do Commercial Vehicles with 600 to 900 Nm Drive Torque Offer?
“High Load-Carrying Capacity and Driving Comfort”
| Attribute | 600 to 900 Nm |
|---|---|
| Segment Value (2024E) | US$ 17.08 Billion |
| Growth Rate (2024 to 2034) | 2.6% CAGR |
| Projected Value (2034F) | US$ 22.03 Billion |
Light commercial vehicles such as pickup trucks and sports utility vehicles which generate a drive torque of 300 to 600 Nm have been increasing, owing to benefits such as high load-carrying capacity as well as comfort while driving.
Drive torques ranging from 600 to 900 Nm are also used in a wide range of vehicles, including sports cars and luxury vehicles, which frequently require axles capable of handling high torque outputs. This market segment is being driven by increased consumer demand for powerful vehicles. Specialized off-road vehicles also require high-torque axles to navigate difficult terrain. Some hybrid systems, particularly those in larger vehicles, produce combined torque in this range, and the growing hybrid market drives demand for capable axles.
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Competitive Landscape
Key players in the wheel axle market are focusing on developing technologically advanced and lightweight axles. Global key players are also investing in R&D to improve the quality of axles and increase efficiency.
- In June 2022, Meritor Inc. launched the Protec independent front suspension for motor coaches, specifically designed to handle heavy loads.
- In July 2022, self-driving start-up Pony.ai announced a partnership with Sany Heavy Industry to mass-produce self-driving trucks in China. These trucks, equipped with "Level 4" autonomous driving technology, will feature advanced axle and drivetrain systems, enabling full self-driving capabilities on highways and city streets.
Fact.MR provides detailed information about the price points of leading manufacturers of wheel axles positioned across the world, sales growth, production capacity, and technological advancements, in this recently updated market report.
Segmentation of Wheel Axle Market Research
-
By End Use :
- Vehicles
- Rail
-
By Drive Torque :
- Below 300 Nm
- 300 to 600 Nm
- 600 to 900 Nm
- 900 to 1,200 Nm
- 1,200 to 1,500 Nm
- Above 1,500 Nm
-
By Region :
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Western Europe
- Eastern Europe
- Middle East & Africa
Table of Content
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034 6.1. Drive Torque 6.2. End Use 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Drive Torque 7.1. Below 300 Nm 7.2. 300 to 600 Nm 7.3. 600 to 900 Nm 7.4. 900 to 1,200 Nm 7.5. 1,200 to 1,500 Nm 7.6. Above 1,500 Nm 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by End Use 8.1. Vehicles 8.2. Rail 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. East Asia 9.6. South Asia & Pacific 9.7. Middle East & Africa 10. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 11. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 12. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 13. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 14. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 15. South Asia & Pacific Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 16. Middle East & Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 17. Sales Forecast 2024 to 2034 by Drive Torque, End Use, and Region for 30 Countries 18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 19. Company Profile 19.1. Dana Incorporated 19.2. American Axle and Manufacturing Inc. 19.3. Daimler AG 19.4. Meritor Inc. 19.5. GNA Group 19.6. Melrose Industries Plc. 19.7. ZF Friedrichshafen AG 19.8. BorgWarner Inc. 19.9. Hyundai Wia Corporation 19.10. Talbros Engineering Limited 20. Assumptions and Acronyms Used 21. Research Methodology
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List Of Table
Table 01: Global Market Value (US$ Mn) Analysis, by Drive Torque, 2019 to 2023
Table 02: Global Market Value (US$ Mn) Analysis, by Drive Torque, 2024 to 2034
Table 03: Global Market Value (US$ Mn) Opportunity Analysis, by Drive Torque, 2024 to 2034
Table 04: Global Market Value (US$ Mn) Analysis, by End Use, 2019 to 2023
Table 05: Global Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034
Table 06: Global Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034
Table 07: Global Market Value (US$ Mn) Analysis, by Region, 2019 to 2023
Table 08: Global Market Value (US$ Mn) Analysis, by Region, 2024 to 2034
Table 09: Global Market Value (US$ Mn) Opportunity Analysis, by Region, 2024 to 2034
Table 10: North America Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 11: North America Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 12: North America Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 13: North America Market Value (US$ Mn) Analysis, by Drive Torque, 2019 to 2023
Table 14: North America Market Value (US$ Mn) Analysis, by Drive Torque, 2024 to 2034
Table 15: North America Market Value (US$ Mn) Opportunity Analysis, by Drive Torque, 2024 to 2034
Table 16: North America Market Value (US$ Mn) Analysis, by End Use, 2019 to 2023
Table 17: North America Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034
Table 18: North America Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034
Table 19: Latin America Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 20: Latin America Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 21: Latin America Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 22: Latin America Market Value (US$ Mn) Analysis, by Drive Torque, 2019 to 2023
Table 23: Latin America Market Value (US$ Mn) Analysis, by Drive Torque, 2024 to 2034
Table 24: Latin America Market Value (US$ Mn) Opportunity Analysis, by Drive Torque, 2024 to 2034
Table 25: Latin America Market Value (US$ Mn) Analysis, by End Use, 2019 to 2023
Table 26: Latin America Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034
Table 27: Latin America Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034
Table 28: Western Europe Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 29: Western Europe Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 30: Western Europe Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 31: Western Europe Market Value (US$ Mn) Analysis, by Drive Torque, 2019 to 2023
Table 32: Western Europe Market Value (US$ Mn) Analysis, by Drive Torque, 2024 to 2034
Table 33: Western Europe Market Value (US$ Mn) Opportunity Analysis, by Drive Torque, 2024 to 2034
Table 34: Western Europe Market Value (US$ Mn) Analysis, by End Use, 2019 to 2023
Table 35: Western Europe Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034
Table 36: Western Europe Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034
Table 37: Eastern Europe Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 38: Eastern Europe Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 39: Eastern Europe Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 40: Eastern Europe Market Value (US$ Mn) Analysis, by Drive Torque, 2019 to 2023
Table 41: Eastern Europe Market Value (US$ Mn) Analysis, by Drive Torque, 2024 to 2034
Table 42: Eastern Europe Market Value (US$ Mn) Opportunity Analysis, by Drive Torque, 2024 to 2034
Table 43: Eastern Europe Market Value (US$ Mn) Analysis, by End Use, 2019 to 2023
Table 44: Eastern Europe Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034
Table 45: Eastern Europe Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034
Table 46: East Asia Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 47: East Asia Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 48: East Asia Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 49: East Asia Market Value (US$ Mn) Analysis, by Drive Torque, 2019 to 2023
Table 50: East Asia Market Value (US$ Mn) Analysis, by Drive Torque, 2024 to 2034
Table 51: East Asia Market Value (US$ Mn) Opportunity Analysis, by Drive Torque, 2024 to 2034
Table 52: East Asia Market Value (US$ Mn) Analysis, by End Use, 2019 to 2023
Table 53: East Asia Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034
Table 54: East Asia Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034
Table 55: South Asia & Pacific Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 56: South Asia & Pacific Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 57: South Asia & Pacific Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 58: South Asia & Pacific Market Value (US$ Mn) Analysis, by Drive Torque, 2019 to 2023
Table 59: South Asia & Pacific Market Value (US$ Mn) Analysis, by Drive Torque, 2024 to 2034
Table 60: South Asia & Pacific Market Value (US$ Mn) Opportunity Analysis, by Drive Torque, 2024 to 2034
Table 61: South Asia & Pacific Market Value (US$ Mn) Analysis, by End Use, 2019 to 2023
Table 62: South Asia & Pacific Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034
Table 63: South Asia & Pacific Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034
Table 64: MEA Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 65: MEA Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 66: MEA Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 67: MEA Market Value (US$ Mn) Analysis, by Drive Torque, 2019 to 2023
Table 68: MEA Market Value (US$ Mn) Analysis, by Drive Torque, 2024 to 2034
Table 69: MEA Market Value (US$ Mn) Opportunity Analysis, by Drive Torque, 2024 to 2034
Table 70: MEA Market Value (US$ Mn) Analysis, by End Use, 2019 to 2023
Table 71: MEA Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034
Table 72: MEA Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034
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List Of Figures
Figure 01: Global Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 02: Global Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 03: Global Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 04: Global Market Incremental $ Opportunity, 2024 to 2034
Figure 05: Global Market Share and BPS Analysis by Drive Torque, 2024 & 2034
Figure 06: Global Market Y-o-Y Growth Projections by Drive Torque, 2024 to 2034
Figure 07: Global Market Attractiveness Analysis by Drive Torque, 2024 to 2034
Figure 08: Global Market Share and BPS Analysis by End Use, 2024 & 2034
Figure 09: Global Market Y-o-Y Growth Projections by End Use, 2024 to 2034
Figure 10: Global Market Attractiveness Analysis by End Use, 2024 to 2034
Figure 11: Global Market Share and BPS Analysis by Region, 2024 & 2034
Figure 12: Global Market Y-o-Y Growth Projections by Region, 2024 to 2034
Figure 13: Global Market Attractiveness Analysis by Region, 2024 to 2034
Figure 14: North America Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 15: North America Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 16: North America Market Value Y-o-Y Growth and Forecast, 2034
Figure 17: North America Market Incremental $ Opportunity, 2024 to 2034
Figure 18: North America Market Share Analysis by Country, 2024 & 2034
Figure 19: North America Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 20: North America Market Attractiveness Analysis by Country, 2024 to 2034
Figure 21: North America Market Share and BPS Analysis by Drive Torque, 2024 & 2034
Figure 22: North America Market Y-o-Y Growth Projections by Drive Torque, 2024 to 2034
Figure 23: North America Market Attractiveness Analysis by Drive Torque, 2024 to 2034
Figure 24: North America Market Share and BPS Analysis by End Use, 2024 & 2034
Figure 25: North America Market Y-o-Y Growth Projections by End Use, 2024 to 2034
Figure 26: North America Market Attractiveness Analysis by End Use, 2024 to 2034
Figure 27: Latin America Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 28: Latin America Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 29: Latin America Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 30: Latin America Market Incremental $ Opportunity, 2024 to 2034
Figure 31: Latin America Market Share Analysis by Country, 2024 & 2034
Figure 32: Latin America Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 33: Latin America Market Attractiveness Analysis by Country, 2024 to 2034
Figure 34: Latin America Market Share and BPS Analysis by Drive Torque, 2024 & 2034
Figure 35: Latin America Market Y-o-Y Growth Projections by Drive Torque, 2024 to 2034
Figure 36: Latin America Market Attractiveness Analysis by Drive Torque, 2024 to 2034
Figure 37: Latin America Market Share and BPS Analysis by End Use, 2024 & 2034
Figure 38: Latin America Market Y-o-Y Growth Projections by End Use, 2024 to 2034
Figure 39: Latin America Market Attractiveness Analysis by End Use, 2024 to 2034
Figure 40: Western Europe Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 41: Western Europe Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 42: Western Europe Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 43: Western Europe Market Incremental $ Opportunity, 2024 to 2034
Figure 44: Western Europe Market Share Analysis by Country, 2024 & 2034
Figure 45: Western Europe Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 46: Western Europe Market Attractiveness Analysis by Country, 2024 to 2034
Figure 47: Western Europe Market Share and BPS Analysis by Drive Torque, 2024 & 2034
Figure 48: Western Europe Market Y-o-Y Growth Projections by Drive Torque, 2024 to 2034
Figure 49: Western Europe Market Attractiveness Analysis by Drive Torque, 2024 to 2034
Figure 50: Western Europe Market Share and BPS Analysis by End Use, 2024 & 2034
Figure 51: Western Europe Market Y-o-Y Growth Projections by End Use, 2024 to 2034
Figure 52: Western Europe Market Attractiveness Analysis by End Use, 2024 to 2034
Figure 53: Eastern Europe Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 54: Eastern Europe Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 55: Eastern Europe Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 56: Eastern Europe Market Incremental $ Opportunity, 2024 to 2034
Figure 57: Eastern Europe Market Share Analysis by Country, 2024 & 2034
Figure 58: Eastern Europe Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 59: Eastern Europe Market Attractiveness Analysis by Country, 2024 to 2034
Figure 60: Eastern Europe Market Share and BPS Analysis by Drive Torque, 2024 & 2034
Figure 61: Eastern Europe Market Y-o-Y Growth Projections by Drive Torque, 2024 to 2034
Figure 62: Eastern Europe Market Attractiveness Analysis by Drive Torque, 2024 to 2034
Figure 63: Eastern Europe Market Share and BPS Analysis by End Use, 2024 & 2034
Figure 64: Eastern Europe Market Y-o-Y Growth Projections by End Use, 2024 to 2034
Figure 65: Eastern Europe Market Attractiveness Analysis by End Use, 2024 to 2034
Figure 66: East Asia Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 67: East Asia Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 68: East Asia Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 69: East Asia Market Incremental $ Opportunity, 2024 to 2034
Figure 70: East Asia Market Share Analysis by Country, 2024 & 2034
Figure 71: East Asia Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 72: East Asia Market Attractiveness Analysis by Country, 2024 to 2034
Figure 73: East Asia Market Share and BPS Analysis by Drive Torque, 2024 & 2034
Figure 74: East Asia Market Y-o-Y Growth Projections by Drive Torque, 2024 to 2034
Figure 75: East Asia Market Attractiveness Analysis by Drive Torque, 2024 to 2034
Figure 76: East Asia Market Share and BPS Analysis by End Use, 2024 & 2034
Figure 77: East Asia Market Y-o-Y Growth Projections by End Use, 2024 to 2034
Figure 78: East Asia Market Attractiveness Analysis by End Use, 2024 to 2034
Figure 79: South Asia & Pacific Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 80: South Asia & Pacific Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 81: South Asia & Pacific Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 82: South Asia & Pacific Market Incremental $ Opportunity, 2024 to 2034
Figure 83: South Asia & Pacific Market Share Analysis by Country, 2024 & 2034
Figure 84: South Asia & Pacific Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 85: South Asia & Pacific Market Attractiveness Analysis by Country, 2024 to 2034
Figure 86: South Asia & Pacific Market Share and BPS Analysis by Drive Torque, 2024 & 2034
Figure 87: South Asia & Pacific Market Y-o-Y Growth Projections by Drive Torque, 2024 to 2034
Figure 88: South Asia & Pacific Market Attractiveness Analysis by Drive Torque, 2024 to 2034
Figure 89: South Asia & Pacific Market Share and BPS Analysis by End Use, 2024 & 2034
Figure 90: South Asia & Pacific Market Y-o-Y Growth Projections by End Use, 2024 to 2034
Figure 91: South Asia & Pacific Market Attractiveness Analysis by End Use, 2024 to 2034
Figure 92: MEA Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 93: MEA Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 94: MEA Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 95: MEA Market Incremental $ Opportunity, 2024 to 2034
Figure 96: MEA Market Share Analysis by Country, 2024 & 2034
Figure 97: MEA Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 98: MEA Market Attractiveness Analysis by Country, 2024 to 2034
Figure 99: MEA Market Share and BPS Analysis by Drive Torque, 2024 & 2034
Figure 100: MEA Market Y-o-Y Growth Projections by Drive Torque, 2024 to 2034
Figure 101: MEA Market Attractiveness Analysis by Drive Torque, 2024 to 2034
Figure 102: MEA Market Share and BPS Analysis by End Use, 2024 & 2034
Figure 103: MEA Market Y-o-Y Growth Projections by End Use, 2024 to 2034
Figure 104: MEA Market Attractiveness Analysis by End Use, 2024 to 2034
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
How big is the wheel axle market in 2024?
The global wheel axle market is estimated at US$ 66.73 billion in 2024.
What are the sales projections for wheel axles by 2034?
The market for wheel axles is forecasted to expand at a CAGR of 4.1% to reach US$ 99.73 billion by 2034.
At what rate is the market projected to expand in the United States?
The market in the United States is forecasted to rise at 6.9% CAGR between 2024 and 2034.
What is the forecasted market size for wheel axles in Japan?
The market in Japan is forecasted to reach US$ 7.5 billion by the end of 2034.
How much market share does the vehicles segment account for?
The vehicles segment is estimated to account for 75.6% of the global market share in 2024.
What is the share of North America in the global market?
North America is forecasted to hold a market share of 30.1% by the end of 2034.
Who are the leading manufacturers of wheel axles?
Dana Incorporated, American Axle & Manufacturing Inc., and Daimler AG are some of the key players in the market.
Wheel Axle Market