Automotive Axle & Propeller Shaft Market worth $25.4 billion by 2025

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MarketsandMarkets Presents

Automotive Axle Propeller Shaft Market worth
25.4 billion by 2025
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xle-propeller-shaft-market-62590144.html
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The report "Automotive Axle Propeller Shaft
Market by Axle Type (Live, Dead Tandem), Axle
Position (Front Rear), Propeller Shaft Type
(Single Multi-Piece), Passenger Car Propeller
Shaft Material (Alloy Carbon Fiber) and Region
- Global Forecast to 2025", The global automotive
axle propeller shaft market size is projected
to grow at a CAGR of 3.2 during the forecast
period, to reach a market size of USD 25.4
billion by 2025 from USD 21.7 billion in 2020.
Increasing production of heavy commercial
vehicles, rising SUV demand, and growing adoption
of AWD vehicles to get enhanced traction is
expected to fuel the demand for Automotive Axle
Propeller Shaft Market. Download PDF Brochure _at_
https//www.marketsandmarkets.com/pdfdownloadNew.a
sp?id62590144 Browse 190 market data Tables
and 61 Figures spread through 218 Pages and
in-depth TOC on "Automotive Axle Propeller
Shaft Market Some of the key players in the
automotive axle and propeller shaft market are ZF
Friedrichshafen AG (Germany), Dana Incorporated
(US), GKN Automotive (UK), American Axle
Manufacturing, Inc. (US), Meritor, Inc. (U.S.),
Showa Corporation (Japan), Hyundai Wia
Corporation (South Korea), JTEKT Corporation
(Japan), and GKN plc (UK).
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Single piece propeller is estimated to hold the
largest share in automotive propeller shaft
segment Single-piece propeller shaft dominates
the automotive propeller shaft market during the
forecast period. The factors that drive the
growth of this segment are cost-effectiveness as
well as its overall durability. The single-piece
propeller shaft is used more than the multi-piece
propeller shaft majorly because of its
lightweight capabilities that provide high fuel
efficiency. The single-piece propeller shaft
becomes an ideal choice for the shorter distance
between the engine and the rear axle. The demand
for the sport utility vehicle segment is rising
mainly in the US, China, and India, owing to the
improving economic environment, low crude oil
prices, and rising per capita income. This will
prompt the demand for rear-wheel-drive vehicles,
which are usually installed with the single-piece
shaft, and subsequently, the growth of SUVs would
also foster the demand for single-piece propeller
shaft in the future. Tandem axle segment is
anticipated to register the highest growth rate
from 2020 to 2025 The tandem axle is expected to
be the fastest-growing market for the automotive
axle market by type from 2020 to 2025. According
to OICA statistics, heavy commercial vehicle
sales have increased from 23.0 million units in
2014 to 26.0 million units in 2019, at a CAGR of
3.26. The growth can be attributed to factors
such as increasing infrastructure spending,
rising import-export trade, and growing
e-commerce activities.
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Furthermore, the increasing goods trade has
prompted the installation of the tandem axle,
which offers additional load carrying capacity to
the vehicle. The rising growth of good transport
would fuel the demand for heavy-duty trucks and
semi-trailers, which are usually installed with
the tandem axle, which subor goods transport,
which brings the necessity of tandem
axle. Request FREE Sample Report _at_
https//www.marketsandmarkets.com/requestsampleNew
.asp?id62590144 Asia Oceania is expected to
have a major share in the automotive axle
propeller shaft market The study estimates Asia
Oceania as the largest consumer for the
automotive axle propeller shaft market during
the forecast period. The region is the global
leader in vehicle production, with production
growth of about 2628 over the past five years
for passenger cars and commercial vehicles. China
has been the leading automotive market for
vehicle production as well as sales in this
region. According to OICA, China, along with
Japan and India, accounted for almost 40-44 of
global vehicle production in 2018. Furthermore,
as per the World Bank statistics, the per capita
income in China and India increased by about 68
and 14, respectively, from 2010 to 2015. The
rise in disposable income is expected to increase
the sales of economy, and premium vehicles,
which, in turn, will drive the demand for axle
and propeller shaft in the region.
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• Recent Developments
• In February 2020, Dana Launched the production of
  the Spicer Electrified eS9000r e-Axle for class 4
  and class 5 commercial vehicles in North America
  and is the only supplier to manufacture all
  components in a system such as an axle, motor,
  gear, and invertor.
• In January 2020, GKN Automotive and Delta
  Electronics Inc. announced their collaboration on
  the joint development that is expected to enable
  the rapid acceleration of next-generation
  integrated 3-in-1 eDrive systems of power classes
  from 80kW to 155kW. The joint development of
  advanced eDrive technology is expected to see
  inverters supplied by Delta Electronics Inc.
  integrated with GKN Automotive's eMotor and
  gearbox systems in a 3-in-1 solution.
• In May 2019, Meritor announced plans to acquire
  AxleTech for approximately USD 175 million. The
  addition of AxleTech will enhance Meritors
  growth platform, bringing a highly complementary
  global product portfolio across the off-highway,
  defense, specialty, and aftermarket segments.
  AxleTechs offerings include a full product line
  of independent suspensions, axles, braking
  solutions, and drivetrain components. These
  capabilities will enable Meritor to offer global
  customers a more comprehensive array of
  differentiated products and solutions while
  further diversifying the companys portfolio.
• To speak to our analyst for a discussion on the
  above findings, click Speak to Analyst

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