Global Rear Axle Commodity Market is segmented By Product Type (Full floating axle, Semi-floating axle, Three quarter floating axle), By Design Type (Banjo axle, Split shaft, Carrier axle), By Vehicle Type (Passenger car, Commercial vehicle, Heavy duty vehicle), By Sales Channel (OEM, Aftermarket), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
The Global Rear Axle Commodity Market is expected to grow at a high CAGR during the forecasting period (2022-2029).
- The rear axle is the last member of the powertrain. In most automobiles, the rear axle is the driving axle. It lies between driving wheels and the differential gear.
- It transmits power from the differential to the driving wheels. It consists of two half shafts connected to the differential gear. The rear axle and differential gear are enclosed in housing which protects them from water, dust, and injury. It ensures the function of driving, steering, and braking of the vehicles.
- The primary function of the rear axle is to carry the weight of the vehicle. It rotates and transmits the power from the engine to the wheels. The Rear axles differ by a method supporting them and mounting of rear wheels such as half floating axle/semi-floating axle, three quarter floating axle, fully floating rear axle.
- The rear axle has also been classified based on the design of axles such as the Banjo axle, split axle, and carrier axle. The rear axle is used in the passenger vehicle, commercial vehicle, and heavy-duty vehicle. The market for the rear axle is high for passenger vehicles as the market for the passenger vehicle is more in Europe and the Asia Pacific.
- The rear axle is the most critical component in a vehicle that goes through a lot of mechanical wear and tear under challenging conditions. So, the quality of light-weight rear axles cannot be compromised.
- The rear axle manufacturers are trying to provide maximum comfort, safety, and cost advantage to the consumers who buy their products. The suppliers are trying to offer light-weight rear axle components with higher axle ratios and low power losses under severe functioning conditions.
- The increase in demand for passenger vehicles is expected to grow due to the high disposable income in developing countries; this is driving the global automotive rear axle commodity market.
- Stringent emission norms by the government and the demand for fuel-efficient vehicles are driving the market of the light-weight automotive rear axle commodity market.
- The increasing demand for all-wheel drive (AWD), with a powertrain capable of providing power to all its wheels at increased maneuvering. This has driven the global automotive rear axle commodity market.
- The increasing price of fuel in the upcoming years along with rising in the cost of automotive with the latest axle technologies had been a significant restraint for the global automotive rear axle commodity market.
- The Lightweight rear axles are designed to meet the requirements of customers, and the challenge for the manufacturers is to maintain their quality. It has been a significant restraint for the global automotive rear axle commodity market.
By product type
- The Half floating rear axle is at the center of the axle casing. The whole weight of the vehicle is first transmitted to the suspension spring then to the axle casing, rear axle, wheel, and ground.
- Three quarter floating rear axle is on the outer side of the casing between the wheel and the axle casing. The main advantage of this is that the significant part of the load is taken by the axle casing and not by the axle. It only takes care of the rotating and transmits the power.
- The full floating rear axle is on the outer side of the casing between the wheel and the axle casing. The entire weight of the vehicle is on the wheel and axle casing. The axle is relieved of all strain caused by the weight of the car on end thrust. It transmits only driving torque.
By design type
- Banjo axle is a single shaft. The banjo axle construction is often used for lighter and smaller vehicles.
- The split axle shaft is used with the central housing containing the differential gear, and it is fitted with a tube on each side to carry the half axles and bearing.
- Key market segments covered
- Full floating axle
- Semi-floating axle
- Three quarter floating axle
By design type
- Banjo axle
- Split shaft
- Carrier axle
By vehicle type
- Passenger car
- Commercial vehicle
- Heavy-duty vehicle
By Sales Channel
- Asia Pacific
- North America
- South America
- Rest of the World
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