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Automotive Axle Market Share

Report ID: GMI12287
Published Date: Nov 2024
Report Format: PDF

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Automotive Axle Market Share

GKN Automotive, Dana, AAM, Hyundai Transys, Schaeffler, ZF, and Meritor collectively held a significant industry share of 21% in the automotive axle industry in 2024. GKN Automotive maintains competitiveness in the automotive axle industry by developing advanced driveline technologies. The company's focus on e-drive systems aligns with rising demand for electric vehicles, positioning GKN as a key supplier for EV and hybrid axles. Through innovation in lightweight materials and smart system integration, GKN maintains a strong global market presence and collaborates with major OEMs to address emerging automotive industry demands.

Dana Incorporated remains competitive in the automotive axle market by expanding its portfolio to include electrified axle systems, addressing the growing EV market. Dana invests in R&D to create lightweight, efficient axle designs that enhance vehicle performance and sustainability. The company leverages strategic partnerships with OEMs to drive product development, focusing on axles for both traditional and electric powertrains. This approach enables Dana to meet diverse customer needs and strengthen its position in the automotive sector.

Automotive Axle Market Companies

Major players operating in the automotive axle industry are:

American Axle & Manufacturing
Benteler International
Daimler
Dana
GKN Automotive
Hyundai Transys
Mando Corporation
Meritor
Schaeffler
ZF

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of automotive axle reached USD 18.4 billion in 2024 and is set to grow at a 5.5% CAGR from 2025 to 2034, driven by the increasing adoption of electric vehicles (EVs).

The OEM segment accounted for USD 13 billion in 2024 and is expected to grow significantly, as OEMs set integration standards for new vehicle models.

China accounted for 35% of the market share in 2024, supported by its robust automotive production base and government initiatives promoting EV and hybrid vehicle adoption.

The key players in the industry include American Axle & Manufacturing, Benteler International, Daimler, Dana, GKN Automotive, Hyundai Transys, Mando Corporation, Meritor, Schaeffler, and ZF.