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Global Automotive Axle & Propeller Shaft Market 2021: Industry Key Players, Share, Trend, Applications
Automotive Axle & Propeller Shaft Market by Position (Front, Rear, and Inter-Axle Propeller Shaft), Axle Type (Live, Dead, and Tandem Axle), Propeller Shaft Type (Single, and Multi Piece), Material (Alloy, and Carbon Fiber) - Global Forecast to 2021
“Automotive Axle & Propeller Shaft Market by Position (Front, Rear, and Inter-Axle Propeller Shaft), Axle Type (Live, Dead, and Tandem Axle), Propeller Shaft Type (Single, and Multi-Piece), Material (Alloy, and Carbon Fiber) - Global Forecast to 2021", The global axle and propeller shaft sales is estimated to grow at a CAGR of 8.22%, to reach USD 58.07 billion during 2016-2021 period.
Growing adoption of AWD vehicles, growth in vehicle production as well as advancement in engineering to enhance vehicle performance and fuel efficiency are estimated to drive the market.
Carbon fiber propeller shaft is the fastest growing segment
Carbon fiber composites are being used in automotive components owing to their structural advantages over their metallic counterparts. These include lower weight and higher strength, which are of vital importance to the OEMs. The cost is expected to decline with mass adoption and improved the manufacturing process, which is projected to make carbon fiber propeller shaft more competitive in the marketplace. These factors would make the carbon fiber propeller shaft segment to be one of the fastest growing markets.
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Players Profiled in the Report are:
• Meritor, Inc. (U.S.)
• ZF Friedrichshafen AG (Germany)
• American Axle & Manufacturing Holdings, Inc. (U.S.)
• Dana Incorporated (U.S.)
• GKN PLC (U.K.)
• Showa Corporation (Japan)
• Hyundai Wia Corporation (South Korea)
• Gestamp (U.S.)
• JTEKT Corporation (Japan)
• IFA Rotorion - Holding GmbH (Germany)
• RSB Global (India)
Asia–Pacific dominates the axle and propeller shaft market in terms of sales
Asia-Oceania is estimated to be the largest market for axles and propeller shafts and is projected to grow at the highest rate from 2016–2021 period. In recent years, the region has emerged as a hub for automobile production. Infrastructural developments and industrialization activities in emerging economies have opened new avenues, creating several opportunities for OEMs along with automotive component suppliers.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall axle and propeller shaft market and their subsegments. This report will help stakeholders to better understand the competitor landscape and gain more insights to better position their businesses and make suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides the information on key market drivers, restraints, challenges, and opportunities.
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