During the forecast period, the global rail wheel and axle market size is expected to expand at a steady CAGR of 5.6%. At its present growth rate, the global market for rail wheels and axles is expected to be worth $4,402.3 million by the year 2023. In 2033, the demand for rail wheel and axle is projected to reach US$ 7603.4 million. Key Takeaways It is estimated that the US market for rail wheel and axle will be worth $570.8 million in 2022. Market value in China, the world's second largest economy, is projected to reach $878 million by 2026, expanding at a CAGR of 6% from 2023 to 2033. Over the projection horizon, both Japan and Canada are predicted to grow at rates of 2.9% and 3.8%, respectively. The demand for rail wheel and axle in Germany is projected to expand by 3.3% this year. Competitive Landscape The global rail wheel and axle market is highly competitive, with many companies operating in this space. These companies are engaged in a range of activities, including the production of rail wheels and axles, the repair and maintenance of these products, and the supply of related services. There are several key players in the global rail wheel and axle market, including Amsted Rail, ArcelorMittal, Bradken, GE Transportation, Klöckner Pentaplast, Lucchini RS, NSSMC, Vyatka, and Wabtec. These companies are well-established players with a strong presence in the market and a reputation for producing high-quality products. For more information: https://www.futuremarketinsights.com/reports/rail-wheel-and-axle-market Overall, the global rail wheel and axle market is highly competitive, with a diverse range of companies operating in this space. Companies in the market are constantly seeking ways to differentiate themselves from their competitors, such as through the development of new technologies or the expansion of their product offerings. Due to the growing sophistication of rail networks and trains, as well as the present trend toward autonomous technology, train makers are devoting significant resources to R&D to develop lighter materials for wheels and axles for freight trains, passenger trains, and short-distance trains. Nearly 7 billion people take trains each year, and they all want to travel as quickly, easily, and economically as possible. It's for this reason that the research and development of fully driverless trains is continuing to advance. Computerized monitoring systems installed on autonomous trains can detect problems with rail wheels and axles. There are numerous benefits to using a solar rail system instead of traditional diesel trains. Diesel-powered trains usually have two engine cars. In contrast, solar-powered trains use solar gears in place of traditional gears. Solar panels have been put on the bogie roofs, and electric motors and batteries have been installed in the second diesel compartment. The electrical needs of railway engines, which normally require 750 V to 800 V to move the rails, may be met by solar panels set atop trains providing voltages of 600 V to 800 V. Demand for these trains is likely to rise, which is good news for manufacturers of rail wheels and axles. Request a Sample of this Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-16312 The rail wheel and axle market is an important segment of the global rail transportation industry. Rail wheel and axle products are essential components of rail vehicles, such as trains, trams, and subway cars, and are used to support and propel these vehicles. There are several factors that are driving the global rail wheel and axle market, including growth in rail transportation, urbanisation and population growth, environmental concerns, and technological advancements. However, the demand for rail wheel and axle is also facing several restraints or challenges, including high capital costs, cyclical demand, a complex supply chain, competition from other modes of transportation, and regulatory challenges. Despite these challenges, the rail wheel and axle market is expected to continue growing in the coming years, driven by increasing demand for rail transportation and ongoing technological advancements in the industry.

The global electric vehicle motor market is worth US$ 8.68 Billion as of now and expected to reach US$ 18.09 Billion by the year 2032 at a CAGR of 8.5% between 2022 and 2032. Electric vehicles are being increasingly asked for due to strict government regulations regarding carbon emissions. As per the European Climate Foundation, employment, with the expansion of electric vehicles, would cross 850K by the year 2030. Thus, increasingly adopting high-performance motors in the electric vehicles is bound to take the electric vehicle motor market to a new ‘High’ in the forecast period. At the same time, high maintenance costs coupled with higher initial costs on the part of electric motor are bound to restrain the market going forward. Though there are complexities involved, the electric vehicles are helpful in the long run. As renewable energy resources are depleting, electric vehicles are a good alternative. Electric vehicle motor market is an ancillary market to electric vehicles market. With exorbitant demand for electric vehicles, the electric vehicle motor market is expected to grow on an unstoppable note in the years to come. Future Market Insights has etched these findings with future perspectives in its latest market study entitled “Electric Vehicle Motor Market”. For more information: https://www.futuremarketinsights.com/reports/electric-vehicle-drive-motor-market Key Takeaways from Electric Vehicle Motor Market North America holds the largest market share with the US alone contributing for more than 90%. This data, however, pertains to the year 2021. It could lose 162 BPS points by the year 2032, which would take its share to 89.7%. Europe is expected to witness a CAGR of 20.1% in electric vehicle motor market in the forecast period with Germany expected to witness growth 6 times in 2032 to the year 2022. Luxury electric vehicles are expected to rule the roost. Coming to the Asia-Pacific, China is expected to create a lucrative opportunity worth US$ 86.5 Bn between 2022 and 2032. The government has also started giving subsidies to facilitate the proliferation of electric vehicles. AC motors holds the largest market share and the status quo will continue even in the forecast period due to stronger grip provided on the bumpy routes. “With environmentally-friendliness being the top priority, the electric vehicle motor market is bound to grow at an astounding rate in the forecast period”, says an analyst at Future Market Insights. Competitive Motors Mabuchi Motors, in June 2021, declared finishing 100% acquisition of Electromag SA for CHF 0.1 Mn or US$ 0.11 Mn. Wolong Electric, in March 2020, did acquire small industrial motors’ business of GE for US$ 160 Mn with the objective of helping it to obtain a significant position in the market. Nidec Corporation, in February 2020, tabled 2 novel traction motor systems; viz 50 kW Ni50Ex and 200 kW Ni200Ex based on original 150 kW E-Axle (100% integrated traction motor system encompassed with a reduction gearbox, an electric motor, and an inverter). WEG, in October 2019, installed LV electric motor plant in Hosur (India). This new-fangled 13K square meter facility holds the capability of manufacturing 250K electric motors/year. Allied Motion Technologies, in May 2019, came up with EnduraMax 75i Series, brushless DC motor comprising an all-digital integrated drive. The application areas include AGV vehicle traction/steering, rotary/linear actuators, medical patient-handling equipment, mobile HVAC blowers, pumps, and material handling systems. ABB, in March 2019, floored stainless steel motors to address food and beverage plants. This motor is capable of forbearing high pressure spray with complete compatibility with the high standards. TECO Westinghouse (Canada), in January 2018, announced entering into new distribution partnership with Westech Industrial for gaining access to uncharted and new markets all over Canada.

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A recently published study by FMI expects the global automotive axle market reached a market value of US$ 61.2 billion in 2022 and is anticipated to reach US$ 74.60 billion by 2032, growing at a CAGR of 2%. Increase in sales of luxurious cars, passenger cars and heavy commercial cars are escalating the demand for automotive axles. As electric vehicles penetrate the market, the demand for automotive axles is expected to grow with time. Electric Vehicle (EV) Adoption: With the growing adoption of electric vehicles, the demand for lightweight and efficient axles is expected to increase. EVs require axles that are capable of handling the high torque produced by electric motors and are designed to accommodate the battery and other electric components. Technological Advancements: Automotive axles are evolving with new technologies such as 3D printing, carbon fiber, and advanced materials. These advancements are expected to improve the efficiency and durability of the axles, resulting in increased demand. Commercial Vehicle Demand: The demand for automotive axles in commercial vehicles, such as trucks and buses, is expected to grow due to the increasing demand for efficient transportation and logistics services. Commercial vehicle axles are required to handle heavy loads and provide better fuel efficiency. From 2017 to 2021, the industry experienced noteworthy growth, registering a value CAGR of 2% and closing at US$ 60 Billion. Although the COVID-19 pandemic halted the growth of the automotive axle market, post the pandemic, the demand is expected to rise. Manufacturers of automotive axles are focusing on producing cost-efficient and durable axles. Hybrid and electric vehicles are creating lucrative opportunities for automotive axles. For more information: https://www.futuremarketinsights.com/reports/automotive-axle-market Furthermore, increasing purchasing capacity in regions like Asia Pacific, North America and Europe is positively influencing the market for automotive axles. Moving ahead, owing to the research undertaken for automotive axles, manufacturers are planning to integrate smart features to axles that will help the vehicle to carry heavy loads. Key Takeaways from the Market Study By vehicle type, passenger cars are expected to hold nearly 45% market share for automotive axles in the forecast period 2022-2032. By type, drive axles are expected to possess 60% market share for automotive axles in the sales indicator period 2022-2032. Asia Pacific is expected to possess 36% market share for automotive axles in the assessment period 2022-2032. North America is expected to hold 25% market share of automotive axles Europe is expected to hold 20% market share of automotive axles as of 2022 “Passenger vehicles are gaining immense popularity across different geographical locations. In addition, increase in transportation activities is playing a pivotal role in the demand for automotive axles.” says an analyst at FMI Market Competition Top Global automotive axle manufacturers are ZF Friedrichshafen AG, Melrose Industries PL, American Axle & Manufacturing, Inc., Meritor Inc., Dana Incorporated, Daimler AG, Talbros Engineering Limited and GNA Group In February 2022, Meritor Inc extended agreement with Wabash till 2026. Due to the agreement, the company will provide loose axles for Wabash’ configuration. Dana Incorporated, a key player in the automotive axle market is focusing on offering a wide variety of axles for different types of vehicles.

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