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Automotive Axle and Propeller Shaft Market Segmentation By Axle Position (Front Axle and Rear Axle); By Axle Type (Dead Axle, Live Axle and Tandem Axle); By Propeller Shaft Position (Front Propeller Shaft, Rear Propeller Shaft and Inter-Axle Propeller Shaft); By Propeller Shaft Type (Single Piece Propeller Shaft and Multi Piece Propeller Shaft); By Vehicle Type; By Sales Channel (Aftermarket and OEM) - Global Demand Analysis & Opportunity Outlook 2027

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Extensive insights into the Growth of Automotive Axle And Propeller Shaft Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Global Automotive Axle and Propeller Shaft Market Overview

Automotive axle and propeller shaft are the major operation components of an automobile in which the dead axle is used for the purpose of holding up the entire weight of the vehicle, cargo and passengers. The live axle helps in delivering the torque to the wheels of the vehicle. The propeller shaft is also known as the carden shaft which is used for power transmission to the rear axle from the gear box. Thus, allowing torque and rotation transmission along the drive train components. Axle helps in increasing performance, ensuring safe transport and improves drivability of automobiles. Contingent to the positioning of the axle and propeller shaft position, an axle serves different steering and transmission functions. The propeller aids in carrying the power from clutch and engine to vehicle’s differential components.

Market Size & Forecast

Automotive axle and propeller shaft market is anticipated to record a CAGR of 4.5% over the forecast period. The automotive axle and propeller shaft market is expected to value at USD 2.85 billion at the end of the forecast period. Many multi-national companies are concentrating towards new product advances in automotive axle and propeller shaft. Moreover, the many advantageous properties of automotive axle and propeller shaft are exploited in the field of automation in vehicles. New uses for automotive axle and propeller shaft are discovered through on going industrial researches which is expected to drive the automotive axle and propeller shaft market rapidly.

Currently the global automotive axle and propeller shaft market is observing vibrant growth owing to increasing demand of technologically advanced automobiles in the market. Advances in automotive industry in the past few years and growing space explorations are projected to drive automotive axle and propeller shaft market besides the wide range of functions of automotive axle and propeller shaft in an immense range of applications such as improving power and drivetrain system, increasing operational performance, torque transfer, momentum generation and more during the forecast period. On the basis of regional platform, global Automotive Axle and Propeller Shaft market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.

On account of increasing trend towards motorization, North America is panned to observe substantial automotive axle and propeller shaft market growth due to rising automotive usage. North America is expected to be followed by Asia Pacific in terms of consumption due to expanding automotive axle and propeller shaft requirements in technologically advanced automotive sold across the region. On the back of multiplying automotive axle and propeller shaft uses in growing advanced on road automobiles, Asia Pacific is budding as a regional automotive axle and propeller shaft consumption market.CLICK TO DOWNLOAD FREE SAMPLE

Automotive Axle And Propeller Shaft Market Graph

Europe is expected to drive demand and positively impact automotive axle and propeller shaft market growth over the forecast period owing to increasing automotive axle and propeller shaft application for improvement and advancement processes. However, weak economic conditions in countries such as Russia, Spain and others is expected to showcase a more modest growth of the automotive axle and propeller shaft market across the region over the forecast period.

Market Segmentation

Our-in depth analysis of the global Automotive Axle and Propeller Shaft market includes the following segments:

By Axle Position

  • Front Axle
  • Rear Axle

By Axle Type

  • Dead Axle
  • Live Axle
  • Tandem Axle

By Propeller Shaft Position

  • Front Propeller Shaft
  • Rear Propeller Shaft
  • Inter-Axle Propeller Shaft

By Propeller Shaft Type

  • Single Piece Propeller Shaft
  • Multi Piece Propeller Shaft

By Vehicle Type

  • Passenger Vehicles
  • Market In Light Commercial Vehicles
  • Market In Heavy Commercial Vehicles

By Sales Channel

  • Aftermarket
  • OEM

By Region

Global Automotive Axle and Propeller Shaft Market is further classified on the basis of region as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Growth Drivers & Challenges

The growing disposable income of the present population is surging the demand for customization in automobile industry with rising demand for customized automotive axle and propeller shafts for increased safety, easy drivability, and increased fuel efficiency. Rapid economic development with thriving automotive manufacturing sector is expected to boost the automotive axle and propeller shaft market in the developing regions. Increasing technological advancements are anticipated to drive the automotive axle and propeller shaft market over the forecast period across the globe. Moreover, increasing on-road automobile numbers along with the rising trend of motorization among the current population is driving the automotive axle and propeller shaft market significantly at present and is expected to impact the market strongly during the forecast period. Furthermore, the axle and propeller shaft market is expected to grow on the back of increasing aftermarket sales of the components on account of automobile up-gradation around the globe.

However, fluctuations in raw material costs such as steel and carbon alloys that are majorly used in the manufacturing of axle and propeller shaft along with increased component cost and increased vehicular weight are anticipated to serve as hindrance in the growth of the axle and propeller shaft market.

Key Players

  • Gestamp
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Meritor, Inc.
  • ZF Friedrichshafen AG
  • IFA Rotorion - Holding GmbH
  • American Axle & Manufacturing Holdings, Inc.
  • Dana Incorporated
  • GKN PLC
  • RSB Group
  • Showa Corporation
  • Hyundai Wia Corporation

 


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