Automotive Axle and Propeller Shaft Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2030
Propeller shaft is a vehicle component for transferring the mechanical power and torque. Automotive axle and propeller shafts transfer torque from differential to wheels and engine to differential respectively. It helps in generating momentum in vehicles. The axles are capable of bearing the entire weight of vehicles and cargos.
The global automotive axle and propeller shaft market is expected to witness princely growth in 2021, over 2020 with a steady CAGR. Increase in vehicle production, interest in purchasing luxurious and comfortable cars and research in light weighting of the overall vehicle are the key growth prospects.
Growing demand for luxurious cars may drive the growth
The recent developments in drive train and chassis components increase the efficiency and reduce the power loss by transferring power from engine to wheels. Demand for shafts that can handle higher stress for heavy duty applications is increasing. These advance technilogies are being made available in luxurious cars and thus, the production of such vehicles is rising and eventually driving the market.
The prices of steel and alloy through which these axles and propeller shafts are made up of fluctuate very often. The prices of castings, forgings and bearings are also unstable in current years. The uncertainty of prices of components is creating pressure on small scale businessmen for deciding the prices.
Automotive Axle and Propeller Shaft Market- Competitive Landscape
Automotive Axle and Propeller Shaft Market- Regional Outlook
Asia Pacific is expected to dominate the market during the forecast period 2021-2031. Rise in production of automobile demanding propeller shaft and axle in India and China paves the way for growth.
Europe is projected to be the second largest market for automotive axle. Investments in research and development for the need to develop light weight silution for vehicles and strict fuel regulations are expected to drive the market in the region.
Automotive Axle and Propeller Shaft Market- Segmentation
Automotive Axle by Type
Automotive Axle by Axle Position
Automotive Propeller Shaft by Position
Automotive Propeller shaft by Type
1)What are the key marketing strategies developed by prominent players in the industry?
The key players in the market are focussing on technilogical advancements, cillaborations, mergers and acquisitions, to lead the way.
2) Which are the key market players?
Showa Corporation (Japan), Hyundai Wia Corporation (South Korea), JTEKT Corporation (Japan), American Axle & Manufacturing, Inc (US) are the key market players focussing on development and innovations.
3) What are the types of propeller shaft by position?
Front, rear and interaxle are the propeller shafts used for generating the momentum in vehicles.
4) Which segment of automotive propeller shaft to hild the largest share during the forecast period?
Single Piece is expected to be the largest owing to its preference in light duty vehicles.
5) By Axle type, which segment is projected to be the largest?
The live axle segment with dead and tandem axles.
The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.
TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.
TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.
5-Point Growth Formula
The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.
The 5-point growth formula includes the following points:
Current and Future Threats
Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.
Accurate Trend Analysis
Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.
Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.
The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.
The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.
The reports offer answers to the top 7 questions that revolve around the growth of the market
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report