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Report
Global Automotive Axle & Propeller Shaft Market Report and Forecast 2024-2032
Market Report I 2023-12-18 I 175 Pages I EMR Inc.
Global Automotive Axle & Propeller Shaft Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the global automotive axle & propeller shaft market grew significantly in 2023. Aided by the rapid technological advancements in vehicle dynamics and the upsurge in automotive production, the market is projected to further grow at a CAGR of 2.90% between 2024 and 2032.
The automotive axle and propeller shaft, fundamental components in a vehicle's drivetrain, are responsible for transmitting power generated by the engine to the vehicle's wheels. These components play a critical role in determining a vehicle's overall performance, driving comfort, and fuel efficiency. The axle supports the vehicle's weight and aids in maintaining the position of the wheels relative to one another and the vehicle body. Simultaneously, the propeller shaft, also known as a driveshaft, transmits torque and rotation, ensuring smooth vehicle movement.
One of the predominant drivers for the automotive axle & propeller shaft market demand is the escalating demand for lightweight vehicles. With global emphasis on fuel efficiency and reduced carbon emissions, automakers are constantly innovating to produce lightweight components without compromising their strength and durability. Modern axles and propeller shafts are increasingly made from advanced materials such as carbon fibre and special alloys, ensuring weight reduction without sacrificing performance.
According to the automotive axle & propeller shaft market analysis, the rising trend of vehicle electrification presents lucrative opportunities for the automotive axle & propeller shaft sector. Electric vehicles (EVs) necessitate unique axle and propeller shaft designs that can accommodate the electric motor's high torque characteristics. As the automotive industry witnesses a paradigm shift towards electric and hybrid vehicles, the demand for customised drivetrain components, including axles and propeller shafts, is expected to surge.
Additionally, the automotive axle & propeller shaft industry is gaining traction due to the growing consumer preference for all-wheel-drive (AWD) and four-wheel-drive (4WD) vehicles, particularly in regions with challenging terrains and unpredictable weather patterns. These drive systems demand robust and efficient axle and propeller shaft configurations, bolstering automotive axle & propeller shaft market growth.
Furthermore, advancements in manufacturing techniques, like computer numerical control (CNC) machining and the integration of smart sensors, have optimised the production of axles and propeller shafts. These innovations not only ensure precision but also contribute to enhanced vehicle safety, longevity, and efficiency.
Market Segmentation
The market can be divided based on type, axle position, vehicle type, material, and region.
Market Breakup by Type
- Axle
o Live
o Dead
o Tandem
- Propeller Shaft
o Single Piece
o Multi Piece
o Slip in Tube
Market Breakup by Axle Position
- Front
- Rear
Market Breakup by Vehicle Type
- Two-Wheeler
- Passenger Cars
- Commercial Vehicle
Market Breakup by Material
- Alloy
- Carbon Fibre
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global automotive axle & propeller shaft market. Some of the major players explored in the report by Expert Market Research are as follows:
- Dana Incorporated
- American Axle & Manufacturing Holdings, Inc.
- Hitachi Astemo, Ltd.
- Hyundai Wia Corporation
- GKN Automotive Limited
- JTEKT Corporation
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Automotive Axle and Propeller Shaft Market Analysis
8.1 Key Industry Highlights
8.2 Global Automotive Axle and Propeller Shaft Historical Market (2018-2023)
8.3 Global Automotive Axle and Propeller Shaft Market Forecast (2024-2032)
8.4 Global Automotive Axle and Propeller Shaft Market by Type
8.4.1 Axle
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.1.3 Breakup by Type
8.4.1.3.1 Live
8.4.1.3.2 Dead
8.4.1.3.3 Tandem
8.4.2 Propeller Shaft
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.2.3 Breakup by Type
8.4.2.3.1 Single Piece
8.4.2.3.2 Multi Piece
8.4.2.3.3 Slip in Tube
8.5 Global Automotive Axle and Propeller Shaft Market by Axle Position
8.5.1 Front
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Rear
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Automotive Axle and Propeller Shaft Market by Vehicle Type
8.6.1 Two-Wheeler
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Passenger Cars
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Commercial Vehicle
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.7 Global Automotive Axle and Propeller Shaft Market by Material
8.7.1 Alloy
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Carbon Fibre
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.8 Global Automotive Axle and Propeller Shaft Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Automotive Axle and Propeller Shaft Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Automotive Axle and Propeller Shaft Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Automotive Axle and Propeller Shaft Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Automotive Axle and Propeller Shaft Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Automotive Axle and Propeller Shaft Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Trade Data Analysis (HS Code- 870850)
15.1 Major Importing Countries
15.1.1 By Volume
15.1.2 By Value
15.2 Major Exporting Countries
15.2.1 By Volume
15.2.2 By Value
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Dana Incorporated
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 American Axle & Manufacturing Holdings, Inc.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Hitachi Astemo, Ltd.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Hyundai Wia Corporation
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 GKN Automotive Limited
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 JTEKT Corporation
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Automotive Axle and Propeller Shaft Market: Key Industry Highlights, 2018 and 2032
2. Global Automotive Axle and Propeller Shaft Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Automotive Axle and Propeller Shaft Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Automotive Axle and Propeller Shaft Historical Market: Breakup by Axle Position (USD Million), 2018-2023
5. Global Automotive Axle and Propeller Shaft Market Forecast: Breakup by Axle Position (USD Million), 2024-2032
6. Global Automotive Axle and Propeller Shaft Historical Market: Breakup by Vehicle Type (USD Million), 2018-2023
7. Global Automotive Axle and Propeller Shaft Market Forecast: Breakup by Vehicle Type (USD Million), 2024-2032
8. Global Automotive Axle and Propeller Shaft Historical Market: Breakup by Material (USD Million), 2018-2023
9. Global Automotive Axle and Propeller Shaft Market Forecast: Breakup by Material (USD Million), 2024-2032
10. Global Automotive Axle and Propeller Shaft Historical Market: Breakup by Region (USD Million), 2018-2023
11. Global Automotive Axle and Propeller Shaft Market Forecast: Breakup by Region (USD Million), 2024-2032
12. North America Automotive Axle and Propeller Shaft Historical Market: Breakup by Country (USD Million), 2018-2023
13. North America Automotive Axle and Propeller Shaft Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Europe Automotive Axle and Propeller Shaft Historical Market: Breakup by Country (USD Million), 2018-2023
15. Europe Automotive Axle and Propeller Shaft Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Asia Pacific Automotive Axle and Propeller Shaft Historical Market: Breakup by Country (USD Million), 2018-2023
17. Asia Pacific Automotive Axle and Propeller Shaft Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Latin America Automotive Axle and Propeller Shaft Historical Market: Breakup by Country (USD Million), 2018-2023
19. Latin America Automotive Axle and Propeller Shaft Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Middle East and Africa Automotive Axle and Propeller Shaft Historical Market: Breakup by Country (USD Million), 2018-2023
21. Middle East and Africa Automotive Axle and Propeller Shaft Market Forecast: Breakup by Country (USD Million), 2024-2032
22. Global Automotive Axle and Propeller Shaft Market Structure
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