Federal Size Regulations for Commercial Motor Vehicles by the U.S. Department of Transportation Federal Highway Administration mentions that Semitrailers up to 53 feet may also operate without a permit by conforming to a kingpin-to-center of rearmost tandem axle distance of 40 feet and a kingpin-to-center of single rear axle distance of 38 feet. Semitrailers that are covered by 23 CFR 658.13 (g) may operate without a permit, provided the distance from the kingpin to the center of the rear axle is 46 feet or less. Semitrailers up to 53 feet in length may operate without a permit by conforming to a kingpin-to-rearmost axle distance of 40 feet 6 inches.
According to the report, The Growing E-Commerce has Made a Positive Impact on the Growth of Logistics, Which has Been Showing a Rising Demand for Commercial Vehicle Axles. is one of the primary growth factors for the market. Rising Demand for Commercial Vehicles has Been Driving the Market Growth. is also expected to contribute significantly to the Commercial Vehicle Axles market. Overall, Freight Transport
applications of Commercial Vehicle Axles, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Material, such as SAE grade 41xx steel, is boosting the Commercial Vehicle Axles market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
New technologies and major shifts in the industry will be game-changing factors that all players have to react now in order to maintain strong positions in the future. As many industry experts agree that significant changes are ahead. AMAs Analyst on the Global Commercial Vehicle Axles market identified that the demand is rising in many different parts of the world as "The Growing EV Market is Bringing More Opportunities for Commercial Vehicle Axle’s Market Growth.". Furthermore, some recent industry insights like "AAM launched 17 product programs for global customers in 2020 including electric drive in China, front and rear axles on full-size pickup trucks, and EcoTrac systems on a minivan. The total portfolio of new businesses launched from AAM's backlog in 2020 serves a broad and diverse customer base with innovative and quality technologies that continue to meet global market trends." which is constantly making the industry very dynamic.
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Commercial Vehicle Axles market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2021 currency rates.
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Commercial Vehicle Axles market and other related sub-markets covered in the study.
o Key & emerging players in the market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall Commercial Vehicle Axles market size is calculated using market estimation process, the Commercial Vehicle Axles market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Commercial Vehicle Axles market size has been validated using both top-down and bottom-up approaches.