Global Truck Axle Market 2019-2023 | Improvements in Supply Chain Strategies to Promote Growth | Technavio
LONDON--(BUSINESS WIRE)--Jan 9, 2019-- analysts forecast the global truck axle market to grow at a CAGR of over 4% during the forecast period, according to their latest market research report. However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190109005304/en/
The increase in the popularity of e-axle system is one of the major trends being witnessed in the . The developments in the e-axle system such as integrating electric motor with rigid rear axle in a single streamlined module help in enhancing the efficiency of electric vehicles. This system in electric vehicles permits the elimination of the propulsion system, which relies on a centrally positioned motor and propeller shaft to transfer power to rear wheels. These e-axles are designed to drop-in to existing suspension that helps it to fit in any truck structure.
According to Technavio analysts, one of the key factors contributing to the growth of the global truck axle market is the improvements in supply chain strategies:
Global truck axle market: Improvements in supply chain strategies
Consolidation through acquisition in the automotive industry is pushing the automotive component manufacturers to enhance their supply chain strategies, which could reduce the procurement cost. The acquisition by an automotive component manufacturer positively affects the suppliers for those automotive component manufacturers. The automotive component manufacturers consolidate the supplier base and shift toward vendor managed inventory to decrease the inventory cost.
According to a senior research analyst at Technavio, “The truck axle manufacturers concentrate on supplier-vendor collaboration to enhance cost-effectiveness. The automotive component manufacturers partner with key global suppliers under the cost-reduction initiative ‘Should Cost’ business model, according to which, the supplier base and manufacturers agree on what should be the cost of the different components. This helps in eliminating the multiple negotiation rounds and could reduce cost.”
Global truck axle market: Segmentation analysis
The global truck axle market research report provides market segmentation by application (light-duty trucks, heavy-duty trucks, and medium-duty trucks) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The light-duty trucks segment held the largest truck axle market share in 2018, accounting for nearly 79% of the market. This application segment is expected to dominate the global market throughout the forecast period.
The APAC region held the largest share of the market in 2018, followed by the Americas and EMEA respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at .
View source version on businesswire.com:https://www.businesswire.com/news/home/20190109005304/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: AUTOMOTIVE AFTERMARKET
SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 01/09/2019 04:48 AM/DISC: 01/09/2019 04:48 AM