Several automotive companies are showing interest in the automotive axle market as there has been an increasing need for lightweight automotive and associated parts. One of the leading automotive manufacturers, planning to invest in the automotive axle market, approached Straits for detailed insights on the market forecasts. The client categorically sought for following insights
Besides, the client was also interested in the pricing landscape in terms of revenue and sales (million units).
The report continued with secondary research by studying political, economic, social, and legal parameters. This first stage helped to understand significant drivers, restraints, and opportunities on a global scale.
The market, being in the evolving stage, is prone to technological and regulatory developments. Hence, an exhaustive study of the dynamics mentioned above was conducted at a regional level. This concluded in meeting the requirement of briefing the rising export opportunities of the market based on law flexibility and also examine the potential regions for expansion.
The second stage involved primary research where several market players and automotive parts suppliers were contacted to study their viewpoint toward the development of their market and also the production capacity, clientele, and product line. This stage helped in a brief understanding of the competitive ecosystem and the scenario of consumer adaptability in the market, thereby addressing the client's requirement of 'how beneficial is the shift towards multi-axle commercial vehicles.’
The final stage — utilizing various market engineering approaches — derived market estimates and forecasts for the automotive axle market.
This data helped the client to get an overview of the market and accelerate the process of investment.
The report on the automotive axle market aided the client in understanding the market trends, including competitive analysis, regulatory framework, and regional analysis through growth drivers, competitive intensity, and detailed market estimations and forecast till 2026.