The Rear Axle Commodity Global Market Report 2023, provides comprehensive information on the rear axle commodity market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Rear Axle Commodity Global Market Report 2023, the market size is expected to grow from $53.93 billion in 2022 to $55.31 billion in 2023 at a compound annual growth rate (CAGR) of 2.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The global rear axle commodity market is expected to reach $60.71 billion in 2027 at a CAGR of 2.4%.
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Product innovation is a key trend gaining popularity in the rear axle commodity market. Major companies operating in the rear axle commodity market are introducing innovative products to sustain their position in the market. For instance, in February 2020, American Axle and Manufacturing, a US-based manufacturer of automobile driveline and drivetrain components, launched a new independent rear drive axle (IRDA) for GM’s (a US-based automobile firm) full-size SUVs, including the 2021 Chevrolet Tahoe, Chevrolet Suburban, GMC Yukon, GMC Yukon Denali, and Cadillac Escalade. The new design features a light-weight aluminum carrier housing and a low-offset hypoid gearset to provide improved efficiency and industry-leading noise, vibration, and harshness performance.
The rear axle commodity market is segmented:
1) By Type: Drive Axle, Dead Axle, Lift Axle
2) 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
North America was the largest region in the rear axle commodity market in 2022.
The table of contents in TBRC’s rear axle commodity market report includes:
1. Executive Summary
2. Rear Axle Commodity Market Characteristics
3. Rear Axle Commodity Market Trends And Strategies
4. Rear Axle Commodity Market – Macro Economic Scenario
5. Rear Axle Commodity Market Size And Growth
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26. Africa Rear Axle Commodity Market
27. Rear Axle Commodity Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Rear Axle Commodity Market
29. Rear Axle Commodity Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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