The global automotive axles market size is projected to reach USD 39.78 billion by 2027, exhibiting a CAGR of 5.1% during the forecast period. Development of advanced axles by companies will be a crucial growth driver for this market, shares Fortune Business Insights™ in its report, titled “Automotive Axles Market Size, Share & Industry Analysis, By Application Type (Front Axle and Rear Axle), By Axle Type (Drive Axle, Dead Axle, and Lift Axle), By Vehicle Type (Passenger Car, Light Commercial Vehicle, and Heavy Commercial Vehicle) and Regional Forecast, 2020-2027”. Automakers and component manufacturers are constantly exploring new technologies to enhance the efficiency of their vehicles and are giving a high amount of attention to automotive axles. For example, in 2017, Bosch introduced its electric axle drive, or e-axle, powertrain, which unifies three powertrain components in a single unit, ensuring lower development time for automakers and increased effi...