Light-duty Trucks Segment to Dominate SAM Truck Axle Market during 2021-2028.
According to this research study titled “SAM Truck Axle Market to 2028 - COVID-19 Impact and Analysis and Forecast by: Type, and Application,” the market is expected to reach US$ 54.16 million by 2028 from US$ 43.71 million in 2021. The market is estimated to grow at a CAGR of 3.1% from 2021 to 2028. The report provides trends prevailing in the SAM truck axle market along with the drivers and restraints pertaining to the market growth. Rising focus on new product development is one of the major factors driving the growth of the SAM truck axle market. However, issues associated with the costly manufacturing and maintenance of trucks hinder the growth of SAM truck axle market.
The SAM truck axle market is segmented into type, application, and country. Based on type, the market is segmented into rigid axle, drive steer axles, and non-drive steer axles. The rigid axle segment dominated the market in the year 2020 and is also expected to be the fastest growing during forecast period. In terms of application, the truck axle market is segmented into light-duty trucks, medium-duty trucks, and heavy-duty trucks. Light-duty trucks segment dominated the market in the year 2020 and medium-duty trucks is expected to be the fastest growing during the forecast period.
Brazil has the highest number of COVID-19 cases, followed by Peru, Chile, Colombia, Ecuador, and Argentina, among others. Governments in SAM have taken an array of actions to protect its citizens and contain COVID-19’s spread; therefore, imposed lockdowns to promote social distancing. As per the Brazil automaker’s association, it is anticipated that the sales of automotive will recover to pre-COVID-19 levels by 2025. Also, several automakers in the country have witnessed a sharp decline in their production capabilities. According to Anfavea, the automakers association, the automotive production is expected to witness a fall of 45% in 2020 compared to 2019. Also, the auto exports are expected to witness a decline of 53% for the same duration. Recently, Ford Motors announced to close its three production facilities and stop manufacturing operations in SAM region.
American Axle & Manufacturing, Inc.; Dana Limited; Meritor, Inc; Qingte Group Co., Ltd.; Rába Automotive Holding Plc.; SAF-HOLLAND SE; Shandong Heavy Industry Group Co., Ltd.; Sinotruk (Hong Kong) Limited; and ZF Friedrichshafen AG, are among the leading companies in the SAM truck axle market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Dana Launches Production of Spicer Electrified eS9000r e-Axle for Class 4 and 5 Commercial Vehicles.
The report segments the SAM Truck Axle market as follows:
SAM Truck Axle Market - By Type
SAM Truck Axle Market - By Application
SAM Truck Axle Market - By Country
The SAM truck axle market is segmented into type, application, and country. Based on type, the market is segmented into rigid axle, drive steer axles, and non-drive steer axles. The rigid axle segment dominated the market in the year 2020 and is also expected to be the fastest growing during forecast period. In terms of application, the truck axle market is segmented into light-duty trucks, medium-duty trucks, and heavy-duty trucks. Light-duty trucks segment dominated the market in the year 2020 and medium-duty trucks is expected to be the fastest growing during the forecast period.
Brazil has the highest number of COVID-19 cases, followed by Peru, Chile, Colombia, Ecuador, and Argentina, among others. Governments in SAM have taken an array of actions to protect its citizens and contain COVID-19’s spread; therefore, imposed lockdowns to promote social distancing. As per the Brazil automaker’s association, it is anticipated that the sales of automotive will recover to pre-COVID-19 levels by 2025. Also, several automakers in the country have witnessed a sharp decline in their production capabilities. According to Anfavea, the automakers association, the automotive production is expected to witness a fall of 45% in 2020 compared to 2019. Also, the auto exports are expected to witness a decline of 53% for the same duration. Recently, Ford Motors announced to close its three production facilities and stop manufacturing operations in SAM region.
American Axle & Manufacturing, Inc.; Dana Limited; Meritor, Inc; Qingte Group Co., Ltd.; Rába Automotive Holding Plc.; SAF-HOLLAND SE; Shandong Heavy Industry Group Co., Ltd.; Sinotruk (Hong Kong) Limited; and ZF Friedrichshafen AG, are among the leading companies in the SAM truck axle market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Dana Launches Production of Spicer Electrified eS9000r e-Axle for Class 4 and 5 Commercial Vehicles.
The report segments the SAM Truck Axle market as follows:
SAM Truck Axle Market - By Type
- Rigid Axle
- Drive Steer Axles
- Non-drive Steer Axles
SAM Truck Axle Market - By Application
- Light-duty trucks
- Medium-duty trucks
- Heavy-duty trucks
SAM Truck Axle Market - By Country
- Brazil
- Rest of SAM
Table of Contents
1. Introduction
3. Research Methodology
4. SAM Truck Axle Market Landscape
5. SAM Truck Axle Market - Key Market Dynamics
6. Truck Axle - SAM Market Analysis
7. SAM Truck Axle Market Revenue and Forecast to 2028 - Type
8. SAM Truck Axle Market Revenue and Forecast to 2028 - Application
9. SAM Truck Axle Market - Country Analysis
10. SAM Truck Axle Market - COVID-19 Impact Analysis
11. Industry Landscape
12. Company Profiles
13. Appendix
List of Tables
List of Figures
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- American Axle & Manufacturing, Inc.
- Dana Limited
- Meritor, Inc.
- Qingte Group Co., Ltd.
- Rába Automotive Holding Plc.
- SAF-HOLLAND SE
- Shandong Heavy Industry Group Co., Ltd.
- Sinotruk (Hong Kong) Limited
- ZF Friedrichshafen AG
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 96 |
| Published | June 2021 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value ( USD | $ 43.71 Million |
| Forecasted Market Value ( USD | $ 54.16 Million |
| Compound Annual Growth Rate | 3.1% |
