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South America Truck Axle Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Rigid Axles, Drive Steer Axles, and Non-Drive Steer Axles) and Application (Light-Duty Trucks, Medium-Duty Trucks, and Heavy-Duty Trucks)

Code: TIPRE00023016 | Pages: 96 | Industry: Automotive and Transportation | Date: Jun 2021
Covid

Market Introduction

South America includes Brazil and the Rest of South and Central America. The market is expected to have growth opportunities in Brazil in terms of urbanizations and the rising use of automobiles. The ongoing expansion of the South America region's automotive manufacturing sector is attributed to many OEMs and automakers. Brazil is a potentially large domestic market with low vehicle ownership and a growing economy. However, with time the country is witnessing rising automotive production is supporting the growth of the Truck Axle market in the region. For instance, as per OICA, total vehicle/car production in Brazil increased by 2.2% in 2019. Further, the national regulatory bodies of various countries in the region are encouraging safer and more advanced vehicles. For instance, the Brazilian government has formulated favorable trade investment policies to promote private investments in various industries, including automotive. The Brazilian government has also made provisions to give exemption to investors from custom duties and other taxes on the purchase of specific infrastructure and capital goods. Such government initiatives to support the automotive sector's growth would strengthen the automotive manufacturing industry in the region, which is expected to support the Truck Axle market's development in the coming years. Also, rising focus on new product development is the major factor driving the growth of the SAM truck axle market.

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 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.

Market Overview and Dynamics

The truck axle market in SAM, 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 transportation industry in various developing countries such as India, China, and Brazil, is highly dependent on road transports. Rise in population and increase in demand for goods in emerging markets are the major factors supporting the truck axle market. Electrification of trucks, automation in manufacturing processes, and rise in sales in developing nations are creating a lucrative opportunity for the market. The key industries driving the truck axle market in developing countries include construction, healthcare & pharmaceuticals, retail & e-commerce, food & beverages, agriculture & forestry, transportation, waste & recycling, and military & defense.

Key Market Segments

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.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the Truck Axle market in SAM are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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, among others.

 

Reasons to buy report

  • To understand the SAM truck axle market landscape and identify market segments that are most likely to guarantee a strong return
  • Stay ahead of the race by comprehending the ever-changing competitive landscape for SAM truck axle market
  • Efficiently plan M&A and partnership deals in SAM truck axle market by identifying market segments with the most promising probable sales
  • Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form SAM truck axle market
  • Obtain market revenue forecast for market by various segments from 2021-2028 in SAM region.

 

SAM Truck Axle Market Segmentation

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

SAM Truck Axle Market -Company Profiles

  • 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 OF CONTENTS

1.           Introduction

1.1         Study Scope

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

2.           Key Takeaways

3.           Research Methodology

3.1         Coverage

3.2         Secondary Research

3.3         Primary Research

4.           SAM Truck Axle Market Landscape

4.1         Market Overview

4.2         SAM PEST Analysis

4.3         Ecosystem Analysis

4.4         Expert Opinions

5.           SAM Truck Axle Market – Key Market Dynamics

5.1         Market Drivers

5.1.1        Developments in Manufacturing Processes

5.2         Market Restraints

5.2.1        Costly Manufacturing and Maintenance Cost of Trucks

5.3         Market Opportunities

5.3.1        Gush in Production of Trucks in Developing Countries

5.4         Future Trends

5.4.1        Introduction of Electrification in Truck Market

5.5         Impact Analysis of Drivers and Restraints

6.           Truck Axle – SAM Market Analysis

6.1         SAM Truck Axles Market Overview

6.2         SAM Truck Axle Market Revenue Forecast and Analysis

7.           SAM Truck Axle Market Revenue and Forecast to 2028 – Type

7.1         Overview

7.2         SAM Truck Axle Market, by Type (2020 and 2028)

7.3         Rigid Axles

7.3.1        Overview

7.3.2        Rigid Axles: SAM Truck Axle Market Revenue and Forecast to 2028 (US$ Million)

7.4         Drive Steer Axles

7.4.1        Overview

7.4.2        Drive Steer Axles: SAM Truck Axle Market Revenue and Forecast to 2028 (US$ Million)

7.5         Non-drive Steer Axles

7.5.1        Overview

7.5.2        Non-drive Steer Axles: SAM Truck Axle Market Revenue and Forecast to 2028 (US$ Million)

8.           SAM Truck Axle Market Revenue and Forecast to 2028 – Application

8.1         Overview

8.2         SAM Truck Axle Market, by Application (2020 and 2028)

8.3         Light-Duty Trucks

8.3.1        Overview

8.3.2        Light-Duty Trucks: SAM Truck Axle Market Revenue and Forecast to 2028 (US$ Million)

8.4         Medium-Duty Trucks

8.4.1        Overview

8.4.2        Medium-Duty Trucks: SAM Truck Axle Market Revenue and Forecast to 2028 (US$ Million)

8.5         High-Duty Trucks

8.5.1        Overview

8.5.2        High-duty Trucks: SAM Truck Axle Market Revenue and Forecast to 2028 (US$ Million)

9.           SAM Truck Axle Market – Country Analysis

9.1         Overview

9.1.1        SAM: Truck Axle Market, by Key Country

9.1.1.1          Brazil: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.1.1          Brazil: Truck Axle Market, by Type

9.1.1.1.2          Brazil: Truck Axle Market, by Application

9.1.1.2          Rest of SAM: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.2.1          Rest of SAM: Truck Axle Market, by Type

9.1.1.2.2          Rest of SAM: Truck Axle Market, by Application

10.        SAM Truck Axle Market - COVID-19 Impact Analysis

10.1      Overview

11.        Industry Landscape

11.1      Overview

11.2      Market Initiative

12.        Company Profiles

12.1      American Axle & Manufacturing, Inc.

12.1.1     Key Facts

12.1.2     Business Description

12.1.3     Products and Services

12.1.4     Financial Overview

12.1.5     SWOT Analysis

12.1.6     Key Developments

12.2      Qingte Group Co., Ltd.

12.2.1     Key Facts

12.2.2     Business Description

12.2.3     Products and Services

12.2.4     Financial Overview

12.2.5     SWOT Analysis

12.2.6     Key Developments

12.3      Meritor, Inc.

12.3.1     Key Facts

12.3.2     Business Description

12.3.3     Products and Services

12.3.4     Financial Overview

12.3.5     SWOT Analysis

12.3.6     Key Developments

12.4      Rába Automotive Holding Plc.

12.4.1     Key Facts

12.4.2     Business Description

12.4.3     Products and Services

12.4.4     Financial Overview

12.4.5     SWOT Analysis

12.4.6     Key Developments

12.5      Dana Limited

12.5.1     Key Facts

12.5.2     Business Description

12.5.3     Products and Services

12.5.4     Financial Overview

12.5.5     SWOT Analysis

12.5.6     Key Developments

12.6      SAF-HOLLAND SE

12.6.1     Key Facts

12.6.2     Business Description

12.6.3     Products and Services

12.6.4     Financial Overview

12.6.5     SWOT Analysis

12.6.6     Key Developments

12.7      Shandong Heavy Industry Group Co., Ltd.

12.7.1     Key Facts

12.7.2     Business Description

12.7.3     Products and Services

12.7.4     Financial Overview

12.7.5     SWOT Analysis

12.7.6     Key Developments

12.8      Sinotruk (Hong Kong) Limited

12.8.1     Key Facts

12.8.2     Business Description

12.8.3     Products and Services

12.8.4     Financial Overview

12.8.5     SWOT Analysis

12.8.6     Key Developments

12.9      ZF Friedrichshafen AG

12.9.1     Key Facts

12.9.2     Business Description

12.9.3     Products and Services

12.9.4     Financial Overview

12.9.5     SWOT Analysis

12.9.6     Key Developments

13.        Appendix

13.1      About The Insight Partners

13.2      Word Index

LIST OF TABLES

Table 1.             SAM Truck Axle Market Revenue and Forecast to 2028 (US$ Million)

Table 2.             SAM: Truck Axle Market, by Country – Revenue and Forecast to 2028 (US$ Million)

Table 3.             Brazil: Truck Axle Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 4.             Brazil: Truck Axle Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 5.             Rest of SAM: Truck Axle Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 6.             Rest of SAM: Truck Axle Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 7.             List of Abbreviation

LIST OF FIGURES

Figure 1.           SAM Truck Axle Market Segmentation

Figure 2.           SAM Truck Axle Market Segmentation – By Country

Figure 3.           SAM Truck Axle Market Overview

Figure 4.           Rigid Axle Segment Held the Largest Market Share in the SAM Truck Axle Market, by Type

Figure 5.           Light – Duty Trucks Segment Held the Largest Market Share in the SAM Truck Axle Market, By Application

Figure 6.           Brazil was the Largest Revenue Contributor in the SAM Truck Axle Market

Figure 7.           SAM – PEST Analysis

Figure 8.           SAM Truck Axle Market: Ecosystem Analysis

Figure 9.           SAM Truck Axle Market Impact Analysis of Drivers and Restraints

Figure 10.        SAM Truck Axle Market Revenue Forecast and Analysis (US$ Million)

Figure 11.        SAM Truck Axle Market, by Type (2020 and 2028)

Figure 12.        SAM Rigid Axles: Truck Axle Market Revenue and Forecast to 2028 (US$ Million)

Figure 13.        SAM Drive Steer Axles: Truck Axle Market Revenue and Forecast to 2028 (US$ Million)

Figure 14.        SAM Non-Drive Steer Axles: Truck Axle Market Revenue and Forecast to 2028 (US$ Million)

Figure 15.        SAM Truck Axle Market, by Application (2020 and 2028)

Figure 16.        SAM Light-Duty Trucks: Truck Axle Market Revenue and Forecast to 2028 (US$ Million)

Figure 17.        SAM Medium-Duty Trucks: Truck Axle Market Revenue and Forecast to 2028 (US$ Million)

Figure 18.        SAM High-duty Trucks: Truck Axle Market Revenue and Forecast to 2028 (US$ Million)

Figure 19.        SAM: Truck Axle Market, by Key Country-Revenue 2020 (US$ Million)

Figure 20.        SAM: Truck Axle Market Revenue Share, by Key Country (2020 & 2028)

Figure 21.        Brazil: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

Figure 22.        Rest of SAM: Truck Axle Market – Revenue and Forecast to 2028 (US$ Million)

Figure 23.        Impact of COVID-19 Pandemic in SAM Countries

 

  1. American Axle & Manufacturing, Inc.
  2. Dana Limited
  3. Meritor, Inc.
  4. Qingte Group Co., Ltd.
  5. Rába Automotive Holding Plc.
  6. SAF-HOLLAND SE
  7. Shandong Heavy Industry Group Co., Ltd.
  8. Sinotruk (Hong Kong) Limited
  9. ZF Friedrichshafen AG
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the SAM Truck Axle Market.
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the SAM Truck Axle market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth SAM market trends and outlook coupled with the factors driving Truck Axle market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

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