Automotive Axle and Propeller Shaft Market Growth, Size, Trends, Demand, Revenue and Future Outlook
Automotive Axle and Propeller Shaft Market Size- By Axle Type, By Axle Position, By Propeller Shaft Type, By Passenger Car Propeller Shaft Material- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jan-2024 | Report ID: AMIN2406 | Pages: 1 - 235 | Formats*: |
| Category : Automotive & Transportation | |||
Automotive Axle and Propeller Shaft Market Introduction and Overview
According to SPER Market Research, the Global Automotive Axle and Propeller Shaft Market is estimated to reach USD 49.76 billion by 2033 with a CAGR of 4.81%.
The report includes an in-depth analysis of the Global Automotive Axle and Propeller Shaft Market, including market size and trends, product mix, applications, and supplier analysis. Axles and propeller shafts in automobiles are critical components that produce momentum. Medium-carbon steel, glass fibres, thermoplastic polyamide, epoxy composite, chrome-molybdenum steel, and carbon fibres are used to make them. Axles that support the entire weight of the vehicle and transfer torque from the differential to the wheels are known as live, tandem, and dead axles. Propeller shafts, on the other hand, such as multi-piece, slip-in tube, and single-piece shaft, convey torque and rotation from an engine to the wheels of a vehicle. Axles and propeller shafts in automobiles have a variety of features, including high specific strength, power gearbox at different elevation levels, and corrosion and abrasion resistance. These components improve handling, safety, and efficiency while also providing increased clearance and a smoother ride.
- January 2020: GKN Automotive and Delta Electronics Inc. announced that they would be working together on a joint development project that would likely allow next-generation integrated 3-in-1 e-Drive systems with power classes ranging from 80kW to 155kW to be developed more quickly.
- February 2020: Gestamp created a lightweight chassis that satisfies safety regulations and will likely be used for the upcoming Skoda and Volkswagen car models in India starting in 2021. It is anticipated that Gestamp will provide the front control arms and sub frame for both German OEM car models.
Market Opportunities and Challenges
The propeller shafts and axles play a major role in the vehicle's drive train. The increasing end-user demand for a pleasant and comfortable driving experience has led to a growing body of research focused at improving the overall NVH properties of automobiles. Manufacturers of axle and propeller shafts have to make sure that their products don't transfer vibrations and noise from wheels or engines because of their contact with the ground. The NVH properties and performance of the products are thoroughly tested during the manufacturing and assembly phases of the process. This not only improves passenger comfort but also contributes to the overall structural performance of the vehicle.
The market for sophisticated propeller shafts and axles, which reduce vibration in the vehicle, will be greatly impacted by the growing demand for comfort in luxury vehicles. A certain level of passenger security has been attained through the use of advanced axle and propeller shaft technologies, which reduce friction coefficient while maintaining vehicle control. Although they are used in the automobile industry, propellers have seen a decline in demand in recent years. The expensive production costs are one thing that has been impeding this market. Propellers become weaker and less durable as a result of the fact that they are frequently constructed from less expensive materials like fiberglass and plastic.
Market Competitive Landscape
Important players in the automotive axle and propeller shaft industry are growing their market share by implementing critical tactics like new product development, product differentiation, and forming strategic partnerships and alliances with important industry players. The major players in the Global Automotive Axle and Propeller Market include: IFA Group, JTEKT Corporation, Melrose Industries Plc, Showa Corporation, ZF Friedrichshafen AG, American Axle Manufacturing, Dana Incorporated, GKN plc, Hitachi Ltd, Hyundai Wia Corporation.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Axle Type, By Axle Position, By Propeller Shaft Type, By Passenger Car Propeller Shaft Material |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | IFA Group, JTEKT Corporation, Melrose Industries Plc, Showa Corporation, ZF Friedrichshafen AG, American Axle Manufacturing, Dana Incorporated, GKN plc, Hitachi Ltd, Hyundai Wia Corporation |
COVID-19 Impact on Global Automotive Axle and Propeller Shaft Market
All of its businesses have been impacted by COVID-19 worldwide. Major companies have announced a temporary production halt owing to lockdown and to ensure the safety of their staff, which has essentially reduced demand and caused supply chain disruptions during the pandemic. Due to cash flow problems, small manufacturers had to halt component manufacturing during the COVID-19 pandemic. The market for automotive axle and propeller shafts is impacted directly by this decline in demand for automobile production as a whole. In the automotive industry, the COVID-19 crisis has led to changes like digital platforms, contactless payments, and virtual dealerships.
Key Target Audience
- Manufacturers
- Traders, Distributors and Suppliers
- End- Use Industries Operating in the supply Chain
- Consumers
- Automotive Dealerships
Our in-depth analysis of the Automotive Axle and Propeller Shaft Market includes the following segments:
| By Axle Type: |
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| By Axle Position: |
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| By Propeller Shaft Type: |
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| By Passenger Car Propeller Shaft Material: |
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Key Topics Covered in the Report:
- Global Automotive Axle and Propeller Shaft Market Size (FY’2023-FY’2033)
- Overview of Global Automotive Axle and Propeller Shaft Market
- Segmentation of Global Automotive Axle and Propeller Shaft Market By Axle Type (Live, Dead, Tandem)
- Segmentation of Global Automotive Axle and Propeller Shaft Market By Axle Position (Front, Rear)
- Segmentation of Global Automotive Axle and Propeller Shaft Market By Propeller Shaft Type (Single, Multi-Piece)
- Segmentation of Global Automotive Axle and Propeller Shaft Market By Passenger Car Propeller Shaft Material (Alloy, Carbon Fibre)
- Statistical Snap of Global Automotive Axle and Propeller Shaft Market
- Expansion Analysis of Global Automotive Axle and Propeller Shaft Market
- Problems and Obstacles in Global Automotive Axle and Propeller Shaft Market
- Competitive Landscape in the Global Automotive Axle and Propeller Shaft Market
- Impact of COVID-19 and Demonetization on Global Automotive Axle and Propeller Shaft Market
- Details on Current Investment in Global Automotive Axle and Propeller Shaft Market
- Competitive Analysis of Global Automotive Axle and Propeller Shaft Market
- Prominent Players in the Global Automotive Axle and Propeller Shaft Market
- SWOT Analysis of Global Automotive Axle and Propeller Shaft Market
- Global Automotive Axle and Propeller Shaft Market Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Global Automotive Axle and Propeller Shaft Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Automotive Axle and Propeller Shaft Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Automotive Axle and Propeller Shaft Market
7. Global Automotive Axle and Propeller Shaft Market, By Axle Type (USD Million)
7.1. Global Automotive Axle and Propeller Shaft Market Value Share and Forecast, By Axle Type, 2023-20337.2. Dead7.3. Live7.4. Tandem
8. Global Automotive Axle and Propeller Shaft Market, By Axle Position (USD Million)
8.1. Global Automotive Axle and Propeller Shaft Market Value Share and Forecast, By Axle Position 2023-20338.2. Front8.3. Rear
9. Global Automotive Axle and Propeller Shaft Market, By Propeller Shaft Type (USD Million)
9.1. Global Automotive Axle and Propeller Shaft Market Value Share and Forecast, By Propeller Shaft Type 2023-20339.2. Multi-Piece9.3. Single
10. Global Automotive Axle and Propeller Shaft Market, By Passenger Car Propeller Shaft Material (USD Million)
10.1. Global Automotive Axle and Propeller Shaft Market Value Share and Forecast, By Passenger Car Propeller Shaft Material 2023-203310.2. Alloy10.3. Carbon Fibre
11. Global Automotive Axle and Propeller Shaft Market, Forecast, 2019-2033 (USD Million)
11.1. Global Automotive Axle and Propeller Shaft Market Size and Market Share
12. Global Automotive Axle and Propeller Shaft Market, By Axle Type 2019-2033 (USD Million)
12.1. Global Automotive Axle and Propeller Shaft Market Size and Market Share, By Axle Type (2019-2026)12.2. Global Automotive Axle and Propeller Shaft Market Size and Market Share, By Axle Type (2027-2033)
13. Global Automotive Axle and Propeller Shaft Market, By Axle Position, 2019-2033 (USD Million)
13.1. Global Automotive Axle and Propeller Shaft Market Size and Market Share, By Axle Position (2019-2026)13.2. Global Automotive Axle and Propeller Shaft Market Size and Market Share, By Axle Position (2027-2033)
14. Global Automotive Axle and Propeller Market, By Propeller Shaft Type, 2019-2033 (USD Million)
14.1. Global Automotive Axle and Propeller Market Size and Market Share, By Propeller Shaft Type (2019-2026)14.2. Global Automotive Axle and Propeller Shaft Market Size and Market Share, By Propeller Shaft Type (2027-2033)
15. Global Automotive Axle and Propeller Shaft Market, By Passenger Car Propeller Shaft Material, 2019-2033 (USD Million)
15.1. Global Automotive Axle and Propeller Shaft Market Size and Market Share, By Passenger Car Propeller Shaft Material (2019-2026)15.2. Global Automotive Axle and Propeller Shaft Market Size and Market Share, By Passenger Car Propeller Shaft Material (2027-2033)
16. Global Automotive Axle and Propeller Market, By Region, 2019-2033 (USD Million)
16.1. Global Automotive Axle and Propeller Shaft Market Size and Market Share, By Region (2019-2026)16.2. Global Automotive Axle and Propeller Shaft Market Size and Market Share, By Region (2027-2033)
16.3. Asia-Pacific16.3.1. Australia16.3.2. China16.3.3. India16.3.4. Japan16.3.5. South Korea16.3.6. Rest of Asia-Pacific16.4. Europe16.4.1. France16.4.2. Germany16.4.3. Italy16.4.4. Spain16.4.5. United Kingdom16.4.6. Rest of Europe16.5. Middle East and Africa16.5.1. Kingdom of Saudi Arabia16.5.2. United Arab Emirates16.5.3. Rest of Middle East & Africa16.6. North America16.6.1. Canada16.6.2. Mexico16.6.3. United States16.7. Latin America16.7.1. Argentina16.7.2. Brazil16.7.3. Rest of Latin America
17. Company Profile
17.1. American Axle Manufacturing17.1.1. Company details17.1.2. Financial outlook17.1.3. Product summary17.1.4. Recent developments17.2. Dana Incorporated17.2.1. Company details17.2.2. Financial outlook17.2.3. Product summary17.2.4. Recent developments17.3. GKN plc17.3.1. Company details17.3.2. Financial outlook17.3.3. Product summary17.3.4. Recent developments17.4. Hitachi Ltd17.4.1. Company details17.4.2. Financial outlook17.4.3. Product summary17.4.4. Recent developments17.5. Hyundai Wia Corporation17.5.1. Company details17.5.2. Financial outlook17.5.3. Product summary17.5.4. Recent developments17.6. IFA Group17.6.1. Company details17.6.2. Financial outlook17.6.3. Product summary17.6.4. Recent developments17.7. JTEKT Corporation17.7.1. Company details17.7.2. Financial outlook17.7.3. Product summary17.7.4. Recent developments17.8. Melrose Industries Plc17.8.1. Company details17.8.2. Financial outlook17.8.3. Product summary17.8.4. Recent developments17.9. Showa Corporation17.9.1. Company details17.9.2. Financial outlook17.9.3. Product summary17.9.4. Recent developments17.10. ZF Friedrichshafen AG17.10.1. Company details17.10.2. Financial outlook17.10.3. Product summary17.10.4. Recent developments17.11. Others
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Automotive Axle and Propeller Market is projected to reach USD 49.76 billion by 2033, growing at a CAGR of 8.3% during the forecast period.
Automotive Axle and Propeller Market size from 2022. The Market is expected to reach USD 49.76 billion by 2033, at a CAGR of 8.3% during the forecast period.
Automotive Axle and Propeller Market CAGR of 8.3% during the forecast period.
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Automotive Axle and Propeller Market size is USD 49.76 billion from 2023 to 2033.
Automotive Axle and Propeller Market Segment is covered By Axle Type, By Axle Position, By Propeller Shaft Type, By Passenger Car Propeller Shaft Material
The North America is anticipated to have the highest market share in the Automotive Axle and Propeller Market.
The key players in the market include Companies Covered IFA Group, JTEKT Corporation, Melrose Industries Plc, Showa Corporation, ZF Friedrichshafen AG, American Axle Manufacturing, Dana Incorporated, GKN plc, Hitachi Ltd, Hyundai Wia Corporation.
The increasing end-user demand for a pleasant and comfortable driving experience has led to a growing body of research focused at improving the overall NVH properties of automobiles.
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