PUBLISHER: The Business Research Company | PRODUCT CODE: 1664657
PUBLISHER: The Business Research Company | PRODUCT CODE: 1664657
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 from The Business Research Company 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 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 2.0%. 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 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.
Rear Axle Commodity Global Market Report 2025 from The Business Research Company 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.
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 from the Business Research Company 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 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.