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Increased passenger car demand is likely to encourage innovation in rear axle commodity manufacturing, propelling the market during the forecast period.

The global rear axle commodity market 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 global rear axle commodity market is expected to reach $60.71 billion in 2027 at a CAGR of 2.4%.

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Global Rear Axle Commodity Market Segments Include:

• By Type: Drive Axle, Dead Axle, Lift Axle
• By Material: Alloy, Carbon Fiber
• By Application: Heavy Vehicles, Luxury Vehicles, Executive Vehicles, Economy Vehicles, Sport Utility Vehicles (SUVs), Multi Utility Vehicles (MUVs), Railways
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global rear axle commodity market in 2021.

Major Market Players 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., Heavy Duty Transaxle Inc.

Product innovation is a hot trend in the rear axle commodity market. To maintain their market position, major businesses in the rear axle commodity industry are offering novel products. For example, American Axle and Manufacturing, a US-based manufacturer of automobile driveline and drivetrain components, introduced a new independent rear drive axle (IRDA) for GM’s (a US-based automobile firm) full-size SUVs in February 2020, including the 2021 Chevrolet Tahoe, Chevrolet Suburban, GMC Yukon, GMC Yukon Denali, and Cadillac Escalade. The new design has a lightweight aluminium carrier housing and a low-offset hypoid gearset to improve efficiency and give industry-leading noise, vibration, and harshness performance.

The Rear Axle Commodity Global Market Report 2023  provides a rear axle commodity market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The rear axle commodity market forecast analyzes rear axle commodity market size, rear axle commodity market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The rear axle commodity is a component that connects the differential to the driving wheels and delivers power between the two. The differential connects the two halves of the rear axle, which are known as the half shafts. Power and torque are transferred from the engine to the wheels via the axles.

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