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Automotive Axle And Propeller Shaft Market: Global
Industry Analysis and Opportunity Assessment 20172027
November 2017
Report Id : REP-GB-2734
Status : Ongoing
Category : Automotive & Transportation
©2015 Future Market Insights, All Rights Reserved
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Automotive Axle And Propeller Shaft Market
Increasing operational performance, improving drivability and ensuring safe transport of cargo and
passengers is the one of the top priority of automobile manufacturers. With increasing acceptance of
hybrid and electric vehicles and integration of smart and connected technologies, manufacturers are
concentrating on improving power and drivetrain systems encompassing components such as clutch,
transmission, propeller shaft and rear axle. Depending upon its position and application, an axle serves
different functions of steering and transmission. A propeller shaft serves the purpose of transmitting torque
and rotation along with other drive train components.
Automotive Axle and Propeller Shaft: Market Dynamics
Escalating vehicle production to meet the everyday increasing demand of thriving global population is one of
the pivotal factors influencing revenue sales of automotive axle and propeller shaft market. In addition, the
growth of automotive axle and propeller shaft market is further propelled by the thriving aftermarket
demand for propeller and axles in emerging economies. However, increased component cost and additional
vehicle weight are the two factors that can act as a challenge to the automotive axle and propeller shaft
market. With vehicle weight pivotally influencing vehicle performance, the adoption of light weight propeller
shaft is gaining traction. Apart from body and frame, some of the leading car manufacturers such as Aston
Martin and Alfa Romeo, have incorporated carbon fibre propeller shafts in some of their models. With
increasing adoption of electric vehicles, critical focus over power train and axle system is expected to bring
significant changes in terms of component and system design and material utilization in automotive axle and
propeller shaft market during the forecast years.
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Automotive Axle And Propeller Shaft Market
Automotive Axle and Propeller Shaft: Regional Outlook
The automotive axle and propeller shaft market can also be segmented on the basis of region as North
America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan and
Middle East and Africa (MEA). APEJ axle and propeller shaft market is spearheaded by India and China. With
sustainable demand for aftermarket components, the increasing sales of heavy commercial vehicles in these
regions is expected to bolster revenue sales of automotive axle and propeller shafts market. Proliferating
demand for light commercial and passenger vehicles in ASEAN countries such as Indonesia and Malaysia
among other countries is boosting the sales of automotive axle and propeller shaft market. The recuperating
sales of vehicles is expected to create strong demand for automotive and propeller shafts during the forecast
year. With a number of OEM manufacturers shifting production bases in Latin America, the region is
expected to witness significant development in terms of supply and demand for domestic automotive axle
and propeller shaft manufacturers. Key automotive axle and propeller shaft markets in Western Europe such
as Germany, Italy, Spain and U.K. are witnessing relatively high demand for aftermarket components such as
drive train components and shafts for electric vehicles segment. This automotive axle and propeller shaft
market demand is expected to mature during the first half of the forecast period. However, post 2021, the
demand is expected to resurge. Middle East and Africa and Eastern Europe automotive axle and propeller
shaft market is expected to witness significant demand owing to escalating sales of passenger cars and light
commercial and heavy commercial vehicles.
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Automotive Axle And Propeller Shaft Market
Automotive Axle and Propeller Shaft: Market Participant
Examples of some of the market participants in the globalautomotive axle and propeller shaft market
include Dana Corporation, IFA Rotorion, Meritor Inc., Korea Flange Co. Ltd. (KOFCO), ZF Friedrichshafen AG,
Showa Corporation, JTEKT Corporation, Hyundai Wia Corporation, GKN-Walterscheid GmbH, American Axle
& Manufacturing, Inc., and Gelenkwellen-Service GmbH.
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