The market is estimated to grow at a CAGR of 3. 1% from 2021 to 2028. Governments of various countries are imposing strict regulations to control emissions from diesel and petrol vehicles, thereby compelling vehicle manufacturers to opt for alternative fuel solutions such as natural gases and electric energy.

New York, Aug. 13, 2021 (GLOBE NEWSWIRE) — announces the release of the report “South America Truck Axle Market Forecast to 2028 – COVID-19 Impact and Regional Analysis By Type and Application” –
Transportation is the primary source of pollution across the world, and heavy-duty vehicles such as trucks and buses are the major contributors in this category. The high efficiency of electric trucks over conventional diesel and natural gas vehicles is among the key factors expected to drive this market in the coming years. Though e-axles are still in the initial growth stage, they are supporting the growth of the electric truck market and anticipated to witness impressive growth in the forecast period. Additionally, rising focus on new product development is among the other factors expected to positively influence the demand for SAM truck axle market.
Based on type, the light-duty trucks segment led the SAM truck axle market in 2020.Light-duty trucks, having strong fuel efficiency, are in being deployed for commercial goods transport and personal transport.

These trucks are the most preferred way of goods transportation over short distances due to high fuel efficiency and small size.They are the most convenient way of goods transportation in urban and semi-urban cities.

According to the OICA, the light-duty trucks production is higher in almost all region, which is propelling the adoption of light-duty pickup trucks. Also, increasing trend of electrification of light-duty trucks is bolstering the growth of market for e-axles in developed and developing countries.
Brazil has the highest number of COVID-19 cases, followed by Peru, Chile, Colombia, Ecuador, and Argentina, among others.Governments in SAM have taken an array of actions to protect its citizens and contain COVID-19’s spread; therefore, imposed lockdowns to promote social distancing.

As per the Brazil automaker’s association, it is anticipated that the sales of automotive will recover to pre-COVID levels by 2025.Also, several automakers in the country have witnessed a sharp decline in their production capabilities.

According to Anfavea, the automakers association, the automotive production is expected to witness a fall of 45% in 2020 compared to 2019.Also, the auto exports are expected to witness a decline of 53% for the same duration.

Recently, Ford Motors announced to close its three production facilities and stop manufacturing operations in SAM.
The overall SAM truck axle market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining an overview and forecast for the SAM truck axle market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the SAM truck axle market. American Axle & Manufacturing, Inc.; Dana Limited; Meritor, Inc; Qingte Group Co., Ltd.; Rába Automotive Holding Plc.; SAF-HOLLAND SE; Shandong Heavy Industry Group Co., Ltd.; Sinotruk (Hong Kong) Limited; and ZF Friedrichshafen AG are among the players operating in the market.
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