The report titled “Automotive Axle & Propeller Shaft Market” sheds a concentrated focus on the Automotive Axle & Propeller Shaft industry in terms of market driver, opportunities, restraints of global segmentation. Further data on the reports also includes demographic conditions, over-turning changing business cycles and analyzing country-to-market.
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The Global Automotive Axle and Propeller Market size in terms of value is estimated to be USD 21.7 Billion in 2020, which is projected to grow to USD 25.4 Billion, by 2025 at a CAGR of 3.2%.
Top Companies Profiled in the Automotive Axle & Propeller Shaft Market:
- ZF Friedrichshafen AG (Germany)
- GKN Automotive (U.K.)
- Dana Incorporated (U.S.)
- American axle & manufacturing (U.S.)
- Meritor Inc. (U.S.)
- Showa Corporation (Japan)
- Hyundai Wia Corporation (South Korea)
- Gestamp Automocion (Spain)
- JTEKT Corporation (Japan) and IFA Rotorion (Germany)
“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 carbon-fiber propeller shaft is fitted mostly in the SUVs provided premium vehicle manufacturers.
“Live axle is projected to lead the automotive axle market, by type, during the forecast period”
Live axle is estimated to hold the largest share of the market during the forecast period between 2020 and 2025. Live axle drives the wheel connected to it along with supporting the weight of the car. Increasing consumer preference towards SUVs and RWD passenger cars, as well as consistent growth in overall vehicle production, has triggered the growth of live axles’ market.
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Breakdown of primary participants’ profile:
- By Company Type – Tier-1 – 59%, Tier-2 – 26%, and OEMs – 15%
- By Designation — C level – 70 %, Director level – 20%, and Others – 10%
- By Region — North America – 38%, Europe – 31%, Asia Oceania – 21%, and RoW – 10%