The rear axle commodity market size has grown steadily in recent years. It will grow from $55.89 billion in 2024 to $57.03 billion in 2025 at a compound annual growth rate (CAGR) of 2%. The growth in the historic period can be attributed to automotive production growth, consumer demand for SUVs and trucks, fuel efficiency demands, evolving vehicle performance standards.
The rear axle commodity market size is expected to see steady growth in the next few years. It will grow to $65.43 billion in 2029 at a compound annual growth rate (CAGR) of 3.5%. The growth in the forecast period can be attributed to shift towards electric vehicles (EVs), demand for lightweight components, integration of advanced safety features, autonomous and connected vehicle trends, global expansion of the commercial vehicle market. Major trends in the forecast period include globalization of automotive manufacturing, integration of electric propulsion systems, continued growth in the SUV and crossover segment, development of all-wheel drive (AWD) and four-wheel drive (4WD) systems, focus on advanced safety features.
The rising demand for passenger vehicles is expected to drive the growth of the rear axle commodity market in the future. Passenger vehicles are motor vehicles with at least four wheels, used to transport passengers, and typically have no more than eight seats in addition to the driver's seat. Rear axles play a crucial role in transmitting power to the driving wheels, as they are connected to the driveshaft, which, in turn, is powered by the engine, rotating the vehicle's wheels. For example, in June 2023, according to GOV.UK, 686 plug-in buses and coaches were registered for the first time in the United Kingdom in 2022, up from 497 registrations in 2021. As a result, the growing demand for passenger vehicles is boosting the rear axle commodity market's expansion.
The increasing demand for electric vehicles is expected to propel the growth of the rear axle commodity market in the coming years. Electric vehicles (EVs), powered by one or more electric motors, rely on rear axles to transmit torque from the electric motor to the wheels. According to the Global EV Outlook 2023 report by the International Energy Agency in April 2023, the number of electric vehicles on the road increased by 60% to reach 26 million in 2022, with the electric car share in total car sales growing from 9% in 2021 to 14% in 2022. This surge in electric vehicle demand is contributing to the growth of the rear axle commodity market.
Technological advancements are emerging as a prominent trend in the rear axle commodity market. Leading companies in this market are introducing innovative products to maintain their competitive position. For example, in March 2024, Ketchel Axle Systems, a U.S.-based technology startup, launched the eRHINO electrified axle system, offering a streamlined and efficient solution for electrifying class 3-8 commercial vehicles. This advanced system integrates an electric motor, inverter, and thermal management system directly into a traditional axle design. This integration enables easy installation and requires minimal modifications for original equipment manufacturers (OEMs).
Major players in the rear axle commodity market are actively focusing on developing innovative products, including electric rear axles, to gain a competitive advantage. An electric rear axle, integrating an electric motor and differential into a single unit, is a powertrain component used in electric vehicles to drive the rear wheels. In September 2022, Volvo Trucks launched the E-Axle, a modular design adaptable to various truck configurations, providing a maximum output of 440 kW and peak torque of 2,800 Nm. The E-Axle can be integrated with existing electric powertrains and used in conjunction with fuel-cell electric trucks.
In August 2022, Cummins Inc., a US-based manufacturer of diesel and alternative fuel engines and generators, completed the acquisition of Meritor Inc. for an undisclosed amount. This strategic move enabled Cummins to expand its product portfolio and capabilities in axle and brake technology, positioning itself as a leading provider of integrated powertrain solutions for both electric power applications and internal combustion. Meritor Inc. specializes in drivetrain solutions, including rear-drive axles.
Major companies operating in the rear axle commodity market include Meritor Inc., GNA Axles Limited, Talbros Engineering Limited, ROC Spicer Limited, Daimler Trucks LLC, Automotive Axles Limited, Mitchell Differential Inc., U.S. Axle Inc., Currie Enterprises, FPW Axles Ltd., IM Axle Specialists, Axle Dynamics LLC, BPW Limited, American Axle & Manufacturing Holdings Inc., Denso Corporation, Hanon Systems Corporation, Sanden Holdings Corporation, Mitsubishi Heavy Industries Ltd., MAHLE GmbH, Valeo S.A., Keihin Corporation, Calsonic Kansei Corporation, Samvardhana Motherson Group, Subros Limited, Eberspacher Group GmbH & Co. KG, Marelli Corporation, ZF Friedrichshafen AG, Dana Incorporated, Eaton Corporation, GKN Automotive Limited, Magna International Inc., Showa Corporation, JTEKT Corporation, NSK Ltd., Schaeffler AG, NTN Corporation, Aisin Seiki Co. Ltd., BorgWarner Inc.
North America was the largest region in the rear axle commodity market in 2024. Asia-Pacific is expected to be the fastest-growing region in the rear axle commodity market report during the forecast period. The regions covered in the rear axle commodity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the rear axle commodity market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The rear axle commodity denotes a component positioned between the differential and the driving wheels, responsible for transmitting power between them. Comprising two halves connected by the differential, each segment is referred to as a half shaft, facilitating the transfer of power and torque from the engine to the wheels.
The primary types of rear axle commodities include the drive axle, dead axle, and lift axle. Drive axles are found in engine-powered vehicles, transmitting torque from the transmission and energy from the engine to the front, rear, or all wheels. Materials such as alloy and carbon fiber are utilized in various applications, spanning heavy vehicles, luxury vehicles, executive vehicles, economy vehicles, sport utility vehicles (SUVs), multi-utility vehicles (MUVs), and railways.
The rear axle commodity market research report is one of a series of new reports that provides rear axle commodity market statistics, including rear axle commodity industry global market size, regional shares, competitors with a rear axle commodity market share, detailed rear axle commodity market segments, market trends, and opportunities, and any further data you may need to thrive in the rear axle commodity industry. This rear axle commodity market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The rear axle commodity market consists of sales of semi-floating axles, full-floating axles, rear axles, front axles, stub axles, and three-quarter floating axles. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The rear axle commodity market size is expected to see steady growth in the next few years. It will grow to $65.43 billion in 2029 at a compound annual growth rate (CAGR) of 3.5%. The growth in the forecast period can be attributed to shift towards electric vehicles (EVs), demand for lightweight components, integration of advanced safety features, autonomous and connected vehicle trends, global expansion of the commercial vehicle market. Major trends in the forecast period include globalization of automotive manufacturing, integration of electric propulsion systems, continued growth in the SUV and crossover segment, development of all-wheel drive (AWD) and four-wheel drive (4WD) systems, focus on advanced safety features.
The rising demand for passenger vehicles is expected to drive the growth of the rear axle commodity market in the future. Passenger vehicles are motor vehicles with at least four wheels, used to transport passengers, and typically have no more than eight seats in addition to the driver's seat. Rear axles play a crucial role in transmitting power to the driving wheels, as they are connected to the driveshaft, which, in turn, is powered by the engine, rotating the vehicle's wheels. For example, in June 2023, according to GOV.UK, 686 plug-in buses and coaches were registered for the first time in the United Kingdom in 2022, up from 497 registrations in 2021. As a result, the growing demand for passenger vehicles is boosting the rear axle commodity market's expansion.
The increasing demand for electric vehicles is expected to propel the growth of the rear axle commodity market in the coming years. Electric vehicles (EVs), powered by one or more electric motors, rely on rear axles to transmit torque from the electric motor to the wheels. According to the Global EV Outlook 2023 report by the International Energy Agency in April 2023, the number of electric vehicles on the road increased by 60% to reach 26 million in 2022, with the electric car share in total car sales growing from 9% in 2021 to 14% in 2022. This surge in electric vehicle demand is contributing to the growth of the rear axle commodity market.
Technological advancements are emerging as a prominent trend in the rear axle commodity market. Leading companies in this market are introducing innovative products to maintain their competitive position. For example, in March 2024, Ketchel Axle Systems, a U.S.-based technology startup, launched the eRHINO electrified axle system, offering a streamlined and efficient solution for electrifying class 3-8 commercial vehicles. This advanced system integrates an electric motor, inverter, and thermal management system directly into a traditional axle design. This integration enables easy installation and requires minimal modifications for original equipment manufacturers (OEMs).
Major players in the rear axle commodity market are actively focusing on developing innovative products, including electric rear axles, to gain a competitive advantage. An electric rear axle, integrating an electric motor and differential into a single unit, is a powertrain component used in electric vehicles to drive the rear wheels. In September 2022, Volvo Trucks launched the E-Axle, a modular design adaptable to various truck configurations, providing a maximum output of 440 kW and peak torque of 2,800 Nm. The E-Axle can be integrated with existing electric powertrains and used in conjunction with fuel-cell electric trucks.
In August 2022, Cummins Inc., a US-based manufacturer of diesel and alternative fuel engines and generators, completed the acquisition of Meritor Inc. for an undisclosed amount. This strategic move enabled Cummins to expand its product portfolio and capabilities in axle and brake technology, positioning itself as a leading provider of integrated powertrain solutions for both electric power applications and internal combustion. Meritor Inc. specializes in drivetrain solutions, including rear-drive axles.
Major companies operating in the rear axle commodity market include Meritor Inc., GNA Axles Limited, Talbros Engineering Limited, ROC Spicer Limited, Daimler Trucks LLC, Automotive Axles Limited, Mitchell Differential Inc., U.S. Axle Inc., Currie Enterprises, FPW Axles Ltd., IM Axle Specialists, Axle Dynamics LLC, BPW Limited, American Axle & Manufacturing Holdings Inc., Denso Corporation, Hanon Systems Corporation, Sanden Holdings Corporation, Mitsubishi Heavy Industries Ltd., MAHLE GmbH, Valeo S.A., Keihin Corporation, Calsonic Kansei Corporation, Samvardhana Motherson Group, Subros Limited, Eberspacher Group GmbH & Co. KG, Marelli Corporation, ZF Friedrichshafen AG, Dana Incorporated, Eaton Corporation, GKN Automotive Limited, Magna International Inc., Showa Corporation, JTEKT Corporation, NSK Ltd., Schaeffler AG, NTN Corporation, Aisin Seiki Co. Ltd., BorgWarner Inc.
North America was the largest region in the rear axle commodity market in 2024. Asia-Pacific is expected to be the fastest-growing region in the rear axle commodity market report during the forecast period. The regions covered in the rear axle commodity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the rear axle commodity market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The rear axle commodity denotes a component positioned between the differential and the driving wheels, responsible for transmitting power between them. Comprising two halves connected by the differential, each segment is referred to as a half shaft, facilitating the transfer of power and torque from the engine to the wheels.
The primary types of rear axle commodities include the drive axle, dead axle, and lift axle. Drive axles are found in engine-powered vehicles, transmitting torque from the transmission and energy from the engine to the front, rear, or all wheels. Materials such as alloy and carbon fiber are utilized in various applications, spanning heavy vehicles, luxury vehicles, executive vehicles, economy vehicles, sport utility vehicles (SUVs), multi-utility vehicles (MUVs), and railways.
The rear axle commodity market research report is one of a series of new reports that provides rear axle commodity market statistics, including rear axle commodity industry global market size, regional shares, competitors with a rear axle commodity market share, detailed rear axle commodity market segments, market trends, and opportunities, and any further data you may need to thrive in the rear axle commodity industry. This rear axle commodity market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The rear axle commodity market consists of sales of semi-floating axles, full-floating axles, rear axles, front axles, stub axles, and three-quarter floating axles. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Rear Axle Commodity Market Characteristics3. Rear Axle Commodity Market Trends and Strategies4. Rear Axle Commodity Market - Macro Economic Scenario Including the Impact of Interest Rates, Inflation, Geopolitics, and the Recovery from COVID-19 on the Market32. Global Rear Axle Commodity Market Competitive Benchmarking and Dashboard33. Key Mergers and Acquisitions in the Rear Axle Commodity Market34. Recent Developments in the Rear Axle Commodity Market
5. Global Rear Axle Commodity Growth Analysis and Strategic Analysis Framework
6. Rear Axle Commodity Market Segmentation
7. Rear Axle Commodity Market Regional and Country Analysis
8. Asia-Pacific Rear Axle Commodity Market
9. China Rear Axle Commodity Market
10. India Rear Axle Commodity Market
11. Japan Rear Axle Commodity Market
12. Australia Rear Axle Commodity Market
13. Indonesia Rear Axle Commodity Market
14. South Korea Rear Axle Commodity Market
15. Western Europe Rear Axle Commodity Market
16. UK Rear Axle Commodity Market
17. Germany Rear Axle Commodity Market
18. France Rear Axle Commodity Market
19. Italy Rear Axle Commodity Market
20. Spain Rear Axle Commodity Market
21. Eastern Europe Rear Axle Commodity Market
22. Russia Rear Axle Commodity Market
23. North America Rear Axle Commodity Market
24. USA Rear Axle Commodity Market
25. Canada Rear Axle Commodity Market
26. South America Rear Axle Commodity Market
27. Brazil Rear Axle Commodity Market
28. Middle East Rear Axle Commodity Market
29. Africa Rear Axle Commodity Market
30. Rear Axle Commodity Market Competitive Landscape and Company Profiles
31. Rear Axle Commodity Market Other Major and Innovative Companies
35. Rear Axle Commodity Market High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
Rear Axle Commodity Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on rear axle commodity market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for rear axle commodity ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The rear axle commodity market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- the market characteristics section of the report defines and explains the market.
- the market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- the forecasts are made after considering the major factors currently impacting the market. These include:
- the forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- Market segmentations break down the market into sub markets.
- the regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- the competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- the trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) by Type: Drive Axle; Dead Axle; Lift Axle2) by Material: Alloy; Carbon Fiber
3) by Application: Heavy Vehicles; Luxury Vehicles; Executive Vehicles; Economy Vehicles; Sport Utility Vehicles (SUVs); Multi Utility Vehicles (MUVs); Railways
Subsegments:
1) by Drive Axle: Single Drive Axle; Double Drive Axle2) by Dead Axle: Non-Powered Dead Axle; Powered Dead Axle
3) by Lift Axle: Manual Lift Axle; Automatic Lift Axle
Key Companies Mentioned: Meritor Inc.; GNA Axles Limited; Talbros Engineering Limited; ROC Spicer Limited; Daimler Trucks LLC
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
Some of the major companies featured in this Rear Axle Commodity market report include:- Meritor Inc.
- GNA Axles Limited
- Talbros Engineering Limited
- ROC Spicer Limited
- Daimler Trucks LLC
- Automotive Axles Limited
- Mitchell Differential Inc.
- U.S. Axle Inc.
- Currie Enterprises
- FPW Axles Ltd.
- IM Axle Specialists
- Axle Dynamics LLC
- BPW Limited
- American Axle & Manufacturing Holdings Inc.
- Denso Corporation
- Hanon Systems Corporation
- Sanden Holdings Corporation
- Mitsubishi Heavy Industries Ltd.
- MAHLE GmbH
- Valeo S.A.
- Keihin Corporation
- Calsonic Kansei Corporation
- Samvardhana Motherson Group
- Subros Limited
- Eberspacher Group GmbH & Co. KG
- Marelli Corporation
- ZF Friedrichshafen AG
- Dana Incorporated
- Eaton Corporation
- GKN Automotive Limited
- Magna International Inc.
- Showa Corporation
- JTEKT Corporation
- NSK Ltd.
- Schaeffler AG
- NTN Corporation
- Aisin Seiki Co. Ltd.
- BorgWarner Inc.
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 200 |
Published | February 2025 |
Forecast Period | 2025 - 2029 |
Estimated Market Value ( USD | $ 57.03 Billion |
Forecasted Market Value ( USD | $ 65.43 Billion |
Compound Annual Growth Rate | 3.5% |
Regions Covered | Global |
No. of Companies Mentioned | 39 |