SAN FRANCISCO, February 21, 2017 /PRNewswire/ --
The global rear axle market is expected to reach USD 57.77 billion by 2024, according to a new report by Grand View Research, Inc. The increasing concern over safety and security is anticipated to drive demand over the forecast period.
(Logo: http://photos.prnewswire.com/prnh/20150105/723757 )
The increasing urbanization in the developed countries has led the consumers to seek alternatives to car ownership. Integrated mobility business and car-sharing has become the ongoing trend in the developed nations. The original equipment manufacturers are expected to diversify the product portfolio for offering services which include car-sharing to have a wider presence in all the diversified segments.
The increasing demand for value for money (VFM), which includes high mileage and fuel efficient products, is anticipated to catapult the vehicle industry. Developed markets, such as Europe and the U.S., represent the dominant share in the industry. Intense competition in the developed markets has led to a shift in the focus toward the emerging markets. Furthermore, the changing lifestyle, rise in disposable income, and stabilizing economic conditions have also led the emerging countries, such as India and China, to exhibit market growth.
The development of new technology, which includes connected cars, is a fully-digitized vehicle with advanced infotainment systems. Moreover, apps, Wi-Fi, and vehicle-to-vehicle communications have enhanced the basic safety such as position and speed, real-time location, and routing based on traffic conditions. Also, the development of smart cars, which provide a relinquishing control of vehicles with functions such as self-parking, self-braking, automatic accident avoidance features, automatic cruise control based on road conditions. The economic slowdown and falling stock prices have affected the sales of the automotive industry. China Association of Automobile Manufacturing (CAAM) confirmed a weaker growth of the sector as compared to that in 2014.
Browse full research report with TOC on "Rear Axle Market Analysis By Type (Drive, Dead, Lift), By Application (Heavy Vehicles, Luxury Vehicles, Executive Vehicles, Economy Vehicles, SUV, MUV, Railways), By Region, And Segment Forecasts, 2015 - 2024" at : http://www.grandviewresearch.com/industry-analysis/rear-axle-market
Further key findings from the study suggest:
Browse related reports by Grand View Research:
Grand View Research has segmented the global rear axle market on the basis of type, application, and region:
Read Our Blog - http://www.grandviewresearch.com/blogs/technology
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: +1-415-349-0058
Toll Free: +1-888-202-9519
Email: sales@grandviewresearch.com
Share this article