Truck Axle Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type, By Application, By Region, Competition, 2020-2030F

Description

The Global Truck Axle Market, valued at USD 1.44 Billion in 2024, is projected to experience a CAGR of 6.52% to reach USD 2.10 Billion by 2030. A truck axle represents a fundamental structural component within commercial vehicles, crucial for supporting the vehicle's immense weight, efficiently transmitting driving power to the wheels, and ensuring overall stability and braking performance. The global market for these components is experiencing growth primarily propelled by sustained economic expansion, which necessitates increased freight transportation, alongside substantial worldwide infrastructure development. This is further compounded by the continuous rise in demand for new commercial vehicles globally.

Market Overview
Forecast Period	2026-2030
Market Size 2024	USD 1.44 Billion
Market Size 2030	USD 2.10 Billion
CAGR 2025-2030	6.52%
Fastest Growing Segment	Drive Steer Axles
Largest Market	North America

Key Market Drivers

The global truck axle market is significantly influenced by the increasing demand for commercial vehicles, driven by expanding logistics and e-commerce sectors worldwide. As economies grow and supply chains become more complex, the need for efficient goods transportation intensifies, translating into higher production and sales volumes for trucks across all weight classes. This sustained demand creates a consistent requirement for new axles as original equipment in vehicle manufacturing. According to PACCAR Inc's Q3 2024 Financial Results, released October 22, 2024, the company expects U. S. and Canada Class 8 truck industry retail sales to be in the range of 250,000 to 270,000 vehicles for 2024, highlighting a substantial volume of new truck deployments that require complete axle assemblies.

Key Market Challenges

Elevated manufacturing costs for medium and heavy-duty trucks present a significant constraint on the Global Truck Axle Market. These increased costs, stemming from factors such as the integration of advanced technologies and fluctuating raw material prices, directly translate into higher purchasing prices for new commercial vehicles. This economic pressure can deter fleet operators and businesses from investing in new trucks, leading to a reduction in overall new truck sales volumes.

Key Market Trends

The electrification of powertrains represents a transformative shift within the global truck axle market, driven by environmental regulations and the pursuit of operational efficiency. This trend involves the development and integration of e-axles, which combine electric motors, transmissions, and power electronics into a single, compact unit, thereby optimizing vehicle architecture for electric propulsion. According to the IEA Global EV Outlook 2025, global electric truck sales grew by almost 8% in 2024, indicating a significant acceleration in the adoption of electric commercial vehicles. This necessitates redesigned axle systems capable of handling the unique power delivery and packaging requirements of electric trucks. Daimler Truck, for instance, commenced series production of its Mercedes-Benz eActros 600 in November 2024, featuring a newly developed electric drive axle to enable long-haul zero-emission transportation. This innovation allows for increased battery capacity and extended range, directly influencing the design and demand for specialized electric axles.

Key Market Players

American Axle & Manufacturing, Inc.
Dana Limited
Meritor, Inc.
Qingte Group Co., Ltd
Raba Automotive Holding Plc.
SAF-HOLLAND SE
ZF Friedrichshafen AG
Sinotruk (Hong Kong) Limited
Sisu Axles, Inc.

Report Scope:

In this report, the Global Truck Axle Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Truck Axle Market, By Type:

Rigid Axle
Drive Steer Axles
Non-Drive Steer Axles

Truck Axle Market, By Application:

Light-Duty Trucks
Medium-Duty Trucks
Heavy-Duty Trucks

Truck Axle Market, By Region:

North America
- United States
- Canada
- Mexico
Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
South America
- Brazil
- Argentina
- Colombia
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Global Truck Axle Market.

Available Customizations:

Global Truck Axle Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

1. Product Overview

1.1. Market Definition
1.2. Scope of the Market
- 1.2.1. Markets Covered
- 1.2.2. Years Considered for Study
- 1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Truck Axle Market Outlook

5.1. Market Size & Forecast
- 5.1.1. By Value
5.2. Market Share & Forecast
- 5.2.1. By Type (Rigid Axle, Drive Steer Axles, Non-Drive Steer Axles)
- 5.2.2. By Application (Light-Duty Trucks, Medium-Duty Trucks, Heavy-Duty Trucks)
- 5.2.3. By Region
- 5.2.4. By Company (2024)
5.3. Market Map

6. North America Truck Axle Market Outlook

6.1. Market Size & Forecast
- 6.1.1. By Value
6.2. Market Share & Forecast
- 6.2.1. By Type
- 6.2.2. By Application
- 6.2.3. By Country
6.3. North America: Country Analysis
- 6.3.1. United States Truck Axle Market Outlook
  - 6.3.1.1. Market Size & Forecast
    - 6.3.1.1.1. By Value
  - 6.3.1.2. Market Share & Forecast
    - 6.3.1.2.1. By Type
    - 6.3.1.2.2. By Application
- 6.3.2. Canada Truck Axle Market Outlook
  - 6.3.2.1. Market Size & Forecast
    - 6.3.2.1.1. By Value
  - 6.3.2.2. Market Share & Forecast
    - 6.3.2.2.1. By Type
    - 6.3.2.2.2. By Application
- 6.3.3. Mexico Truck Axle Market Outlook
  - 6.3.3.1. Market Size & Forecast
    - 6.3.3.1.1. By Value
  - 6.3.3.2. Market Share & Forecast
    - 6.3.3.2.1. By Type
    - 6.3.3.2.2. By Application

7. Europe Truck Axle Market Outlook

7.1. Market Size & Forecast
- 7.1.1. By Value
7.2. Market Share & Forecast
- 7.2.1. By Type
- 7.2.2. By Application
- 7.2.3. By Country
7.3. Europe: Country Analysis
- 7.3.1. Germany Truck Axle Market Outlook
  - 7.3.1.1. Market Size & Forecast
    - 7.3.1.1.1. By Value
  - 7.3.1.2. Market Share & Forecast
    - 7.3.1.2.1. By Type
    - 7.3.1.2.2. By Application
- 7.3.2. France Truck Axle Market Outlook
  - 7.3.2.1. Market Size & Forecast
    - 7.3.2.1.1. By Value
  - 7.3.2.2. Market Share & Forecast
    - 7.3.2.2.1. By Type
    - 7.3.2.2.2. By Application
- 7.3.3. United Kingdom Truck Axle Market Outlook
  - 7.3.3.1. Market Size & Forecast
    - 7.3.3.1.1. By Value
  - 7.3.3.2. Market Share & Forecast
    - 7.3.3.2.1. By Type
    - 7.3.3.2.2. By Application
- 7.3.4. Italy Truck Axle Market Outlook
  - 7.3.4.1. Market Size & Forecast
    - 7.3.4.1.1. By Value
  - 7.3.4.2. Market Share & Forecast
    - 7.3.4.2.1. By Type
    - 7.3.4.2.2. By Application
- 7.3.5. Spain Truck Axle Market Outlook
  - 7.3.5.1. Market Size & Forecast
    - 7.3.5.1.1. By Value
  - 7.3.5.2. Market Share & Forecast
    - 7.3.5.2.1. By Type
    - 7.3.5.2.2. By Application

8. Asia Pacific Truck Axle Market Outlook

8.1. Market Size & Forecast
- 8.1.1. By Value
8.2. Market Share & Forecast
- 8.2.1. By Type
- 8.2.2. By Application
- 8.2.3. By Country
8.3. Asia Pacific: Country Analysis
- 8.3.1. China Truck Axle Market Outlook
  - 8.3.1.1. Market Size & Forecast
    - 8.3.1.1.1. By Value
  - 8.3.1.2. Market Share & Forecast
    - 8.3.1.2.1. By Type
    - 8.3.1.2.2. By Application
- 8.3.2. India Truck Axle Market Outlook
  - 8.3.2.1. Market Size & Forecast
    - 8.3.2.1.1. By Value
  - 8.3.2.2. Market Share & Forecast
    - 8.3.2.2.1. By Type
    - 8.3.2.2.2. By Application
- 8.3.3. Japan Truck Axle Market Outlook
  - 8.3.3.1. Market Size & Forecast
    - 8.3.3.1.1. By Value
  - 8.3.3.2. Market Share & Forecast
    - 8.3.3.2.1. By Type
    - 8.3.3.2.2. By Application
- 8.3.4. South Korea Truck Axle Market Outlook
  - 8.3.4.1. Market Size & Forecast
    - 8.3.4.1.1. By Value
  - 8.3.4.2. Market Share & Forecast
    - 8.3.4.2.1. By Type
    - 8.3.4.2.2. By Application
- 8.3.5. Australia Truck Axle Market Outlook
  - 8.3.5.1. Market Size & Forecast
    - 8.3.5.1.1. By Value
  - 8.3.5.2. Market Share & Forecast
    - 8.3.5.2.1. By Type
    - 8.3.5.2.2. By Application

9. Middle East & Africa Truck Axle Market Outlook

9.1. Market Size & Forecast
- 9.1.1. By Value
9.2. Market Share & Forecast
- 9.2.1. By Type
- 9.2.2. By Application
- 9.2.3. By Country
9.3. Middle East & Africa: Country Analysis
- 9.3.1. Saudi Arabia Truck Axle Market Outlook
  - 9.3.1.1. Market Size & Forecast
    - 9.3.1.1.1. By Value
  - 9.3.1.2. Market Share & Forecast
    - 9.3.1.2.1. By Type
    - 9.3.1.2.2. By Application
- 9.3.2. UAE Truck Axle Market Outlook
  - 9.3.2.1. Market Size & Forecast
    - 9.3.2.1.1. By Value
  - 9.3.2.2. Market Share & Forecast
    - 9.3.2.2.1. By Type
    - 9.3.2.2.2. By Application
- 9.3.3. South Africa Truck Axle Market Outlook
  - 9.3.3.1. Market Size & Forecast
    - 9.3.3.1.1. By Value
  - 9.3.3.2. Market Share & Forecast
    - 9.3.3.2.1. By Type
    - 9.3.3.2.2. By Application

10. South America Truck Axle Market Outlook

10.1. Market Size & Forecast
- 10.1.1. By Value
10.2. Market Share & Forecast
- 10.2.1. By Type
- 10.2.2. By Application
- 10.2.3. By Country
10.3. South America: Country Analysis
- 10.3.1. Brazil Truck Axle Market Outlook
  - 10.3.1.1. Market Size & Forecast
    - 10.3.1.1.1. By Value
  - 10.3.1.2. Market Share & Forecast
    - 10.3.1.2.1. By Type
    - 10.3.1.2.2. By Application
- 10.3.2. Colombia Truck Axle Market Outlook
  - 10.3.2.1. Market Size & Forecast
    - 10.3.2.1.1. By Value
  - 10.3.2.2. Market Share & Forecast
    - 10.3.2.2.1. By Type
    - 10.3.2.2.2. By Application
- 10.3.3. Argentina Truck Axle Market Outlook
  - 10.3.3.1. Market Size & Forecast
    - 10.3.3.1.1. By Value
  - 10.3.3.2. Market Share & Forecast
    - 10.3.3.2.1. By Type
    - 10.3.3.2.2. By Application

11. Market Dynamics

11.1. Drivers
11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments

13. Global Truck Axle Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. American Axle & Manufacturing, Inc.
- 15.1.1. Business Overview
- 15.1.2. Products & Services
- 15.1.3. Recent Developments
- 15.1.4. Key Personnel
- 15.1.5. SWOT Analysis
15.2. Dana Limited
15.3. Meritor, Inc.
15.4. Qingte Group Co., Ltd
15.5. Raba Automotive Holding Plc.
15.6. SAF-HOLLAND SE
15.7. ZF Friedrichshafen AG
15.8. Sinotruk (Hong Kong) Limited
15.9. Sisu Axles, Inc.