Global Automotive Axle & Propeller Shaft Market
was valued US$ XX Mn in 2019 and is expected to grow US$ XX Mn by 2027, at a CAGR of 4.5% during the forecast period.
The report study has analyzed revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Automotive axle and propeller shafts are the main components in generating momentum in vehicles by transferring the torque from differential to wheels and engine to differential correspondingly. Axles transfer torque from differential to wheels or serve only as a support for vehicle loads while providing the mounting for wheel assembly. The type of axle depends on the position and function of the axle. Commercial vehicles, like heavy trucks, medium-duty trucks, and buses may integrate above two live axles depending on the application and role of the vehicle, while most of the passenger vehicle is integrated with one live axle & one dead axle. The propeller shaft also recognized as the drive shaft is used to transfer torque from the engine to the differential of the vehicle. The propeller shaft is integrated with the differential using one or more universal joints or jaw couplings. Propeller shafts are capable of moving an abundance of torque with minimum power loss as compared to belt and chain drive systems. Key players in the market are investing an enormous amount of capital in R&D to improve their technical expertise, offer new & innovative products, and increase their product portfolio.
Raise in manufacturing & sales of motor vehicles worldwide, purchaser demand for the quieter log cabin, and giving more emphasis on comfort are the factors that show the high requirement for axle & propeller shaft for the automotive market. Then again, a reduction in the maintenance price of the motor vehicle is one more aspect that encourages market growth. Moreover, the demand for fuel competent motor vehicles is expected to offer the prospect for the global market key players to offer low prices and light mass products which additional grow fuel competence of vehicles. Development in the adoption of All Wheel Drive (AWD) motor vehicles usually in Europe and North America has further encouraged the demand for the global axle & propeller shaft for the automotive market.
On the other hand, increased vehicle weight and fluctuating prices of raw materials, for instance, an alloy of carbon and steel and aluminum utilized for emerging of axles and propellers reduce down the market development are posing to be limitations to the growth of the global automotive axle & propeller shaft market.
In terms of the axle type, the live axle segment is expected to hold the largest market share of XX% of the global market throughout the forecast period. Rising consumer inclination towards RWD passenger cars and SUVs together with the constant growth of the overall vehicle production globally is triggering the growth of the live axle segment. Therefore, the increase in demand for a passenger vehicle in the future is set to positively influence the growth of the live axle segment.
Region-wise, the Asia-Pacific region is expected to hold the highest growth rate of XX% of the global axle & propeller shaft for the automotive market. And is organized by India and China. With maintainable requirements for aftermarket elements, the rising sale of heavy saleable motor vehicles in these regions is expected to boost revenue sales of the global axle & propeller shaft for the automotive market. Flourishing demand for light saleable and traveler vehicles in
Key regions for axle & propeller shaft for the automotive market in Europe such as the U.K., Italy, Germany, and Spain are observing relatively high requirements for aftermarket workings, for example, drive train components and beams for electric motor vehicles section. This global axle & propeller shaft for automotive market demand is expected to develop during the future.
In Feb 2018, the eAxle was launched in its first application across Volvo’s range of T8 Twin Engine plug-in hybrids, picking up an Automotive News PACE Innovation Award in 2016. GKN’s coaxial eAxle powered the rear wheels of the LEVC (London EV Company) electrified TX model.
The objective of the report is to present a comprehensive analysis of the Global Automotive Axle & Propeller Shaft Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Automotive Axle & Propeller Shaft Market dynamics, structure by analyzing the market segments and project the Global Automotive Axle & Propeller Shaft Market size. Clear representation of competitive analysis of key players by by application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Automotive Axle & Propeller Shaft Market make the report investor’s guide.
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Scope of the Global Automotive Axle & Propeller Shaft Market
Global Automotive Axle & Propeller Shaft Market, By Axle Position
• Front axle
• Rear axle
Global Automotive Axle & Propeller Shaft Market, By Axle Type
• Dead axle
• Live axle
• Tandem axle
Global Automotive Axle & Propeller Shaft Market, By Propeller Shaft Position
• Front propeller shaft
• Rear propeller shaft
• Inter-axle propeller shaft
Global Automotive Axle & Propeller Shaft Market, By Propeller Shaft Type
• Single piece propeller shaft
• Multi piece propeller shaft
Global Automotive Axle & Propeller Shaft Market, By Vehicle Type
• Passenger vehicles
• Light commercial vehicles
• Heavy commercial vehicles
Global Automotive Axle & Propeller Shaft Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Automotive Axle & Propeller Shaft Market
• Meritor, Inc.
• ZF Friedrichshafen AG
• IFA Rotorion - Holding GmbH
• American Axle & Manufacturing Holdings, Inc.
• Dana Incorporated
• GKN PLC
• Jtekt Corporation
• RSB Group
• Showa Corporation
• Hyundai Wia Corporation
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