Automotive Axle and Propeller Shaft Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2030

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Automotive Axle and Propeller Shaft Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2030

Status : February, 2022 | Automotive

Report Digest

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.

Automotive Axle and Propeller Shaft 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

  • ZF Friedrichshafen AG (Germany)
  • Dana Incorporated (US)
  • GKN Automotive (UK)
  • Showa Corporation (Japan)
  • Hyundai Wia Corporation (South Korea)
  • JTEKT Corporation (Japan)
  • American Axle & Manufacturing, Inc (US)

Recent developments

  • In February 2020, Dana launched Spicer Electrified eS9000r e- Axle for class 4 and 5 commercial vehicles in North America. The company is the only supplier till now with capability to manufacture all components of, including gears, axle, motor and inverter by itself.
  • GKN Automotive, world’s leading supplier of electric drive in 2020 have cillaborated with Delta Electronics Inc, for rapid acceleration of next generation integrated 3-in-1 eDrive systems of power glasses from 800KW to 155kW.   

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

  • Dead
  • Live
  • Tandem

Automotive Axle by Axle Position

  • Front
  • Rear

Automotive Propeller Shaft by Position

  • Front
  • Rear
  • Interaxle

Automotive Propeller shaft by Type

  • Single- Piece
  • Multi- Piece

By Material

  • Alloy
  • Carbon fiber

By Region

  • Asia Pacific
  • Europe
  • North America
  • Rest of the World

    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.

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