Global Automotive Axle & Propeller Shaft Market, By Position (Front, Rear), Type (Single Piece, Multi Piece), Material (Alloy, Carbon Fiber), Sales Channel (OEM, Aftermarket), Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle), Propeller Shaft Type (Front Propeller, Inter- Axle, Rear Propeller), Axle Type (Dead Axle, Live Axle, Tandem Axle), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Automotive Axle and Propeller Shaft Market
Automotive axle and propeller shaft market is expected to witness market growth at a rate of 3.52% in the forecast period of 2021 to 2028. Data Bridge Market Research report on automotive axle & propeller shaft market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Automotive axle and propeller shaft are the major component of the vehicle for its operation. The axle bears the whole weight of the vehicle and the material carried in the vehicle. It also provide the torque to the wheels due to which the vehicle move. The main task of propeller shaft is to rotate along with the components of powertrain or drive train and transmit the torque.
Increasing automobile production is driving the growth of the market. The demand for electric vehicle is also rising due to which the market for automotive axle & propeller shaft will grow in future. Also, reduction of maintenance costs and downtime of the vehicle is driving the market. Technological advancements in the vehicle is also likely to boost the growth of the vehicle.
Fluctuation in the price of raw materials used for vehicle will restrict the growth of the market. The problem of weight and cost reduction of the vehicle components is also expected to restrain the growth.
The making of lighter vehicle components for reducing the weight of the vehicle to provide better fuel efficiency and mileage is a major challenge for the market.
This automotive axle and propeller shaft market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on Data Bridge Market Research automotive axle & propeller shaft market contact us for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Automotive Axle and Propeller Shaft Market Scope and Market Size
Automotive axle and propeller shaft market is segmented on the basis of position, type, material, sales channel, vehicle type, propeller shaft type, axle type. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Automotive axle and propeller shaft market on the basis of position has been segmented into front and rear.
- Based on type, the automotive axle and propeller shaft market has been segmented into single piece and multiple piece. Single piece segment is anticipated to hold the maximum market share during the forecast period as it is mostly preferred in light-duty vehicles due to the minimum distance between the axle and engine and it also reduces the mechanical losses.
- Based on material, the automotive axle and propeller shaft market has been segmented into alloy and carbon fibre. Alloy is dominating the market and is also expected to continue its dominance in the forecast period. The factor which is propelling the growth of the alloy segment as it is used in passenger car and light duty vehicles more for the propeller shaft component which provide more strength and stiffness at a low cost.
- Based on sales channel, the automotive axle and propeller shaft market has been segmented into OEM and aftermarket.
- Based on vehicle type, the automotive axle and propeller shaft market is segmented into passenger car, light commercial vehicle and heavy commercial vehicle. The passenger car segment is expected to hold the maximum market share over the forecast period due to the increased production of passenger cars in the developing countries such as India, South Africa, Mexico and Indonesia.
- Based on application, the automotive axle and propeller shaft market is segmented into front propeller, inter- axle and rear propeller.
- Based on application, the automotive axle and propeller shaft market is segmented into dead axle, live axle and tandem axle. Live axle segment is likely to lead the market in the forecast period as compared with other segments as the focus is shifting towards the optimization of the vehicle performance and to deliver the higher torque to the wheels.
Global Automotive Axle and Propeller Shaft Market Country Level Analysis
Automotive axle and propeller shaft market is analysed and market size, volume information is provided by position, type, material, sales channel, vehicle type, propeller shaft type, axle type as referenced above.
The countries covered in the automotive axle and propeller shaft market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific region is capturing the maximum market share of the global automotive axle & propeller shaft market and is expected to dominate the market over the forecast period. This growth is driven by the increased production of automobile in the countries including China and India, which are demanding for the propeller shaft and automotive axle. Europe is expected to be the second largest market for the automotive axle & propeller shaft market during the forecast period.
The country section of the automotive axle and propeller shaft market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Automotive Axle and Propeller Shaft Market Share Analysis
Automotive axle and propeller shaft market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to automotive axle and propeller shaft market.
The major players covered in the automotive axle and propeller shaft market report are ZF Friedrichshafen AG, Melrose Industries PLC, Dana Limited, American Axle & Manufacturing, Inc., Meritor, Inc., SHOWA Corporation, HYUNDAI WIA CORP, Gestamp Automoción, JTEKT Corporation, IFA Group, Automotive Axles Limited, Mark Williams Enterprises Inc., White Technologies Inc., Johnson Power Ltd, Wilson Drive Shafts, Nexteer Automotive, D & F Propshafts, Bailey Morris Ltd. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many prominent players in the market are taking different initiatives in the market so they can enhance their market reach and strengthen their market position.