HOME Top Market Reports Axle & Propeller Shaft Market For Automotive by Position (Front & Rear Axle and Front, Rear & Inter-Axle Propeller Shaft), Axle Type (Live Axle, Dead Axle & Tandem Axle), Propeller Shaft Material (Alloy & Carbon Fiber), & by Region - Analysis to 2019

Axle & Propeller Shaft Market For Automotive by Position (Front & Rear Axle and Front, Rear & Inter-Axle Propeller Shaft), Axle Type (Live Axle, Dead Axle & Tandem Axle), Propeller Shaft Material (Alloy & Carbon Fiber), & by Region - Analysis to 2019

By: marketsandmarkets.com
Publishing Date: February 2015
Report Code: AT 3160

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Automotive axles and propeller shafts play a vital role in the operation of any vehicle. Axles bear the weight of the vehicle, passengers, and cargo along with transmitting the torque to the wheels, in case of a live axle. Based on the application and position, axle serves the function of driving, braking, and steering. Propeller shaft transmits the torque generated from the engine to the differential. Stringent fuel-efficiency demands from government regulations and end-users following increasing fuel prices have driven the need for lightweight automotive components. Axles and propeller shafts are designed to be as lightweight as possible without compromising on structural strength, as these components handle harsh working conditions such as mechanical wear and tear along with transfer of high torque to optimize fuel-efficiency. These components also play a vital role in the overall comfort level offered by the vehicle, as the NVH levels depend on the drivetrain of the vehicle.

Manufacturers of axles and propellers worldwide are striving to offer cost advantages, optimum comfort levels, and safety to the end consumers through their product offerings. Suppliers are concentrating on lightweight products with faster axle ratios and minimum power losses through mechanical operations. For this purpose, suppliers are closely working with OEMs to develop application-specific products.

Factors such as increasing vehicle production on a global level, increasing need for fuel efficiency through lightweight automotive components and comfort is driving the research and growth of this market. However; constantly fluctuating prices of the raw materials can affect the profitability of the tier I suppliers.

Region of Asia-Oceania is an attractive market owing to the nascent stage of the market and higher growth potential in automotive production than developed markets such as Europe and North America. Growing adoption of AWD vehicles in North America is also a major market opportunity for axle & propeller shaft manufacturers. RoW markets are important manufacturing and export bases for automotive OEMs. Growing geographical presence of OEMs in these regions is driving the market of automotive axle & propeller shaft.

Major market players in this market are American Axle Manufacturing & Holdings, Inc. (U.S.) Meritor, Inc. (U.S.), ZF Friedrichshafen AG (Germany); Dana Holding Corporation (U.S.), Showa Corporation (Japan) and GKN plc (U.K) among others.

The report segments the axle market based on type (live, dead, & tandem), position (front & rear), and propeller shaft market based on position (front, rear & inter-axle), material (alloy & carbon fiber), along with region (Asia-Oceania, Europe, Americas, & RoW) and revenue ($million) based segmentation for the said market sub-segments. It covers Porter’s Five Forces Analysis and value chain of the global axle & propeller market. It contains qualitative data about drivers, restraints, and opportunities presented by the global axle and propeller shaft market.

Scope of the Report

  • By Region
    • Asia-Oceania
    • Europe
    • North America
    • RoW
  • Axle Market, By Type
    • Live
    • Dead
    • Tandem
  • Axle market, By Position
    • Front
    • Rear
  • Propeller Shaft market, By Position
    • Front
    • Rear
    • Inter-axle
  • Propeller Shaft market, By Material
    • Alloy
    • Carbon Fiber

Axle & Propeller Shaft Market

Table of Contents

1 Introduction
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Market Covered
           1.3.2 Years Considered in the Report
    1.4 Currency
    1.5 Package Size
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology
    2.1 Research Data
    2.2 Secondary Data
           2.2.1 Key Secondary Sources
           2.2.2 Key Data From Secondary Sources
    2.3 Primary Data
           2.3.1 Sampling Techniques & Data Collection Methods
           2.3.2 Primary Participants
    2.4 Factor Analysis
           2.4.1 Introduction
           2.4.2 Demand Side Analysis
                    2.4.2.1 Impact of GDP on Commercial Vehicle Sales
                    2.4.2.2 Urbanization vs. Passenger Car Per 1000 People
                    2.4.2.3 Infrastructure: Roadways
           2.4.3 Supply Side Analysis
                    2.4.3.1 Vehicle Production Increasing in Developing Countries
           2.4.4 Technological Advancement
           2.4.5 Influence of Other Factors
    2.5 Market Size Estimation
           2.5.1 Assumptions

3 Executive Summary

4 Premium Insights
    4.1 Introduction
    4.2 Emerging Opportunities in the Global Axle & Propeller Shaft Market
    4.3 Global Axle & Propeller Shaft Market Growth, By Country (‘000 Units)
    4.4 Global Axle & Propeller Shaft Market, By Region ($Million)
    4.5 Global Axle Market, By Type, 2019 ($Million)
    4.6 Global Axle Market, By Position, 2014 vs. 2019 ($Million)
    4.7 Global Propeller Shaft Market, By Position, 2014 ($Million)
    4.8 Global Carbon Fiber Propeller Shaft Market, By Region, 2014 vs. 2019 ($Million)

5 Market Overview
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 Axle Market Segmentation: By Type
           5.2.2 Axle Market Segmentation: By Position
           5.2.3 Propeller Market Segmentation: By Position
           5.2.4 Propeller Market Segmentation: By Material
           5.2.5 Axle & Propeller Market Segmentation: By Region
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Growth in Vehicle Production
                    5.3.1.2 Reduction in Maintenance Cost of the Vehicle
                    5.3.1.3 Increasing Demand for Comfort
           5.3.2 Restraint
                    5.3.2.1 Fluctuating Prices of Raw Materials
           5.3.3 Opportunity
                    5.3.3.1 Growing Market for Awd Vehicles
           5.3.4 Challenge
                    5.3.4.1 Weight and Cost Reduction
           5.3.5 Burning Issue
                    5.3.5.1 Increasing Demand for Fwd Vehicles
    5.4 Porter’s Five Force Analysis
           5.4.1 Threat of New Entrants
           5.4.2 Threat of Substitutes
           5.4.3 Bargaining Power of Suppliers
           5.4.4 Bargaining Power of Buyers
           5.4.5 Intensity of Competitive Rivalry
    5.5 Value Chain Analysis

6 Global Automotive Axle Market, By Position
    6.1 Introduction
    6.2 Front Axle
           6.2.1 Passenger Car
           6.2.2 LCV
           6.2.3 HCV
    6.3 Rear Axle
           6.3.1 Passenger Car
           6.3.2 LCV
           6.3.3 HCV

7 Global Automotive Axle Market, By Type
    7.1 Introduction
    7.2 Dead Axle
           7.2.1 Passenger Car
           7.2.2 LCV
           7.2.3 HCV
    7.3 Live Axle
           7.3.1 Passenger Car
           7.3.2 LCV
           7.3.3 HCV Front Live Axle
           7.3.4 HCV Rear Live Axle
    7.4 Tandem Axle
           7.4.1 HCV

8 Global Propeller Shaft Market, By Position
    8.1 Introduction
    8.2 Front Propeller Shaft
    8.3 Rear Propeller Shaft
    8.4 Inter-Axle Propeller Shaft

9 Global Passenger Car Propeller Shaft Market, By Material
    9.1 Introduction
    9.2 Alloy Propeller Shaft
    9.3 Carbon Fiber Propeller Shaft

10 Global Axle & Propeller Shaft Market, By Region
     10.1 Introduction
     10.2 Pest Analysis
               10.2.1 Political Factors
                         10.2.1.1 Europe
                         10.2.1.2 Asia-Oceania
                         10.2.1.3 North America
                         10.2.1.4 Rest of the World
               10.2.2 Economic Factors
                         10.2.2.1 Europe
                         10.2.2.2 Asia-Oceania
                         10.2.2.3 North America
                         10.2.2.4 Rest of the World
               10.2.3 Social Factors
                         10.2.3.1 Europe
                         10.2.3.2 Asia-Oceania
                         10.2.3.3 North America
                         10.2.3.4 Rest of the World
               10.2.4 Technological Factors
                         10.2.4.1 Europe
                         10.2.4.2 Asia-Oceania
                         10.2.4.3 North America
                         10.2.4.4 Rest of the World
     10.3 Asia-Oceania
               10.3.1 China
               10.3.2 Japan
               10.3.3 South Korea
               10.3.4 India
     10.4 Europe
               10.4.1 Germany
               10.4.2 France
               10.4.3 U.K.
     10.5 North America
               10.5.1 U.S.
               10.5.2 Canada
               10.5.3 Mexico
     10.6 RoW
               10.6.1 Russia
               10.6.2 Brazil

11 Competitive Landscape
     11.1 Overview
     11.2 Competitive Environment of the Automotive Axle & Propeller Shaft Market (By Company)
     11.3 Market Share Analysis, Automotive Axle & Propeller Shaft Markets
     11.4 Competitive Situation and Trends
     11.5 Expansions
     11.6 New Product Developments
     11.7 Supply Contracts
     11.8 Mergers & Acquisitions
     11.9 Joint Ventures & Collaborations
     11.10 Other Development

12 Company Profiles
(Overview, Financial*, Products & Services, Strategy, and Developments)
     12.1 Introduction
     12.2 Meritor, Inc.
     12.3 ZF Friedrichshafen AG
     12.4 American Axle & Manufacturing Holdings, Inc.
     12.5 Dana Holding Corporation
     12.6 GKN PLC
     12.7 Showa Corporation
     12.8 Hyundai Wia Corporation
     12.9 Gestamp
     12.10 Jtekt Corporation
     12.11 IFA Rotorion - Holding GmbH

*Details Might Not Be Captured in Case of Unlisted Companies

13 Appendix
     13.1 Insights of Industry Experts
     13.2 Discussion Guide
     13.3 Introducing Rt: Real Time Market Intelligence
     13.4 Available Customizations
               13.4.1 Marine Propeller Shaft Market
               13.4.2 Rolling Stock Axle Market
     13.5 Related Reports
     13.6 Other Developments


List of Tables (76 Tables)

Table 1 Rise in Automotive Production Activity Propelling the Growth of the Axle & Propeller Shaft Market
Table 2 Fluctuating Raw Material Prices Hindering Market Growth
Table 3 Growing Market for Awd Vehicles is Opening Up New Opportunities for Propeller Shaft Manufacturers
Table 4 Reduction of Both, Weight and Cost is Proving to Be A Challenge for Tier I Suppliers
Table 5 Passenger Car Propeller Shaft Market Size, By Material,2012-2019 (‘000 Units)
Table 6 Passenger Car Propeller Shaft Market Size, By Material,2012-2019 ($Million)
Table 7 Passenger Car Alloy Propeller Shaft Market Size, By Position,2012-2019 (‘000 Units)
Table 8 Passenger Car Alloy Propeller Shaft Market Size, By Position,2012-2019 ($Million)
Table 9 Passenger Car Carbon Fiber Propeller Shaft Market Size, By Position, 2012-2019 (‘000 Units)
Table 10 Passenger Car Carbon Fiber Propeller Shaft Market Size, By Position, 2012-2019 ($Million)
Table 11 Automotive Axle Market Size, By Position, 2012-2019 (‘000 Units)
Table 12 Automotive Axle Market Size, By Position, 2012-2019 ($Million)
Table 13 Front Axle Market Size, By Application, 2012-2019 (‘000 Units)
Table 14 Front Axle Market Size, By Application, 2012-2019 ($Million)
Table 15 Rear Axle Market Size, By Application, 2012-2019 (‘000 Units)
Table 16 Rear Axle Market Size, By Application, 2012-2019 ($Million)
Table 17 Automotive Axle Market Size, By Type, 2012-2019 (‘000 Units)
Table 18 Automotive Axle Market Size, By Type, 2012-2019 ($Million)
Table 19 Passenger Car Dead Axle Market Size, By Region, 2012-2019 (‘000 Units)
Table 20 Passenger Car Dead Axle Market Size, By Region, 2012-2019 ($Million)
Table 21 LCV Dead Axle Market Size, By Region, 2012-2019 (‘000 Units)
Table 22 LCV Dead Axle Market Size, By Region, 2012-2019 ($Million)
Table 23 HCV Dead Axle Market Size, By Region, 2012-2019 (‘000 Units)
Table 24 HCV Dead Axle Market Size, By Region, 2012-2019 ($Million)
Table 25 Passenger Car Live Axle Market Size, By Region, 2012-2019 (‘000 Units)
Table 26 Passenger Car Live Axle Market Size, By Region, 2012-2019 ($Million)
Table 27 LCV Live Axle Market Size, By Region, 2012-2019 (‘000 Units)
Table 28 LCV Live Axle Market Size, By Region, 2012-2019 ($Million)
Table 29 HCV Front Live Axle Market Size, By Region, 2012-2019 (‘000 Units)
Table 30 HCV Front Live Axle Market Size, By Region, 2012-2019 ($Million)
Table 31 HCV Rear Live Axle Market Size, By Region, 2012-2019 (‘000 Units)
Table 32 HCV Rear Live Axle Market Size, By Region, 2012-2019 ($Million)
Table 33 HCV Tandem Axle Market Size, By Region, 2012-2019 (‘000 Units)
Table 34 HCV Tandem Axle Market Size, By Region, 2012-2019 ($Million)
Table 35 Propeller Shaft Market Size, By Position, 2012-2019 (‘000 Units)
Table 36 Propeller Shaft Market Size, By Position, 2012-2019 ($Million)
Table 37 Front Propeller Shaft Market Size, By Region, 2012-2019 (‘000 Units)
Table 38 Front Propeller Shaft Market Size, By Region, 2012-2019 ($Million)
Table 39 Rear Propeller Shaft Market Size, By Region, 2012-2019 (‘000 Units)
Table 40 Rear Propeller Shaft Market Size, By Region, 2012-2019 ($Million)
Table 41 Inter-Axle Propeller Shaft Market Size, By Region,2012-2019 (‘000 Units)
Table 42 Inter-Axle Propeller Shaft Market Size, By Region, 2012-2019 ($Million)
Table 43 Axle & Propeller Shaft Market Size, By Region, 2012-2019 (‘Ooo Units)
Table 44 Axle & Propeller Shaft Market Size, By Region, 2012-2019 ($Million)
Table 45 Asia-Oceania: Axle & Propeller Market Size, 2012-2019 (‘000 Units)
Table 46 Asia-Oceania: Axle & Propeller Market Size, 2012-2019 ($Million)
Table 47 China: Axle & Propeller Market Size, 2012-2019 (‘000 Units)
Table 48 China: Axle & Propeller Market Size, 2012-2019 ($Million)
Table 49 Japan: Axle & Propeller Market Size, 2012-2019 (‘000 Units)
Table 50 Japan: Axle & Propeller Market Size, 2012-2019 ($Million)
Table 51 South Korea: Axle & Propeller Market Size, 2012-2019 (‘000 Units)
Table 52 South Korea: Axle & Propeller Market Size, 2012-2019 ($Million)
Table 53 India: Axle & Propeller Market Size, 2012-2019 (‘000 Units)
Table 54 India: Axle & Propeller Market Size, 2012-2019 ($Million)
Table 55 Europe: Axle & Propeller Shaft Market Size, By Country.2012-2019 (‘000 Units)
Table 56 Europe: Axle & Propeller Shaft Market Size, By Country.2012-2019 ($Million)
Table 57 Germany: Axle & Propeller Shaft Market Size, 2012-2019 (‘000 Units)
Table 58 Germany: Axle & Propeller Shaft Market Size, 2012-2019 ($Million)
Table 59 France: Axle & Propeller Shaft Market Size, 2012-2019 (‘000 Units)
Table 60 France: Axle & Propeller Shaft Market Size, 2012-2019 ($Million)
Table 61 U.K.: Axle & Propeller Shaft Market Size, 2012-2019 (‘000 Units)
Table 62 U.K.: Axle & Propeller Shaft Market Size, 2012-2019 ($Million)
Table 63 North America: Axle & Propeller Shaft Market Size, By Country,2012-2019 (‘000 Units)
Table 64 North America: Axle & Propeller Shaft Market Size, By Country,2012-2019 ($Million)
Table 65 U.S.: Axle & Propeller Shaft Market Size, 2012-2019 (‘000 Units)
Table 66 U.S.: Axle & Propeller Shaft Market Size, 2012-2019 ($Million)
Table 67 Canada: Axle & Propeller Market Size, 2012-2019 (‘000 Units)
Table 68 Canada: Axle & Propeller Market Size, 2012-2019 ($Million)
Table 69 Mexico: Axle & Propeller Market Size, 2012-2019 (‘000 Units)
Table 70 Mexico: Axle & Propeller Market Size, 2012-2019 ($Million)
Table 71 RoW: Axle & Propeller Shaft Market Size, By Country, 2012-2019 (‘000 Units)
Table 72 RoW: Axle & Propeller Shaft Market Size, By Country,2012-2019 ($Million)
Table 73 Russia: Axle & Propeller Market Size, 2012-2019 (‘000 Units)
Table 74 Russia: Axle & Propeller Market Size, 2012-2019 ($Million)
Table 75 Brazil: Axle & Propeller Market Size, 2012-2019 (‘000 Units)
Table 76 Brazil: Axle & Propeller Market Size, 2012-2019 ($Million)
 
 
List of Figures (71 Figures)
 
Figure 1 Automotive Axle and Propeller Shaft Market: Markets Covered
Figure 2 Research Design
Figure 3 Research Methodology Model
Figure 4 Breakdown of Primary Interviews: By Company Type,Designation, & Region
Figure 5 Gross Domestic Product (GDP) vs. Commercial Vehicle Production
Figure 6 Urbanization vs. Passenger Cars Per 1000 People
Figure 7 Road Network vs. Passenger Car Sales
Figure 8 Vehicle Production, 2009-2013
Figure 9 Micro and Macro Factor Analysis
Figure 10 Data Triangulation
Figure 11 Market Size Estimation Methodology: Bottom-Up Approach
Figure 12 Key Countries in the Axle & Propeller Shaft Market (‘000 Units): China Was Estimated to Be the Largest Market in 2014
Figure 13 Live Axle Holds the Largest Share in the Global Axle Market ($Million)
Figure 14 Axle & Propeller Shaft Market Share: Europe Projected to Be the Fastest Growing Market ($Million) During the Forecast Period
Figure 15 Global Propeller Shaft Market, By Region, 2014 vs. 2019 ($Million)
Figure 16 Emerging Opportunities in the Global Axle & Propeller Shaft Market
Figure 17 China Estimated to Witness the Highest Growth During the Forecast Period
Figure 18 Asia-Oceania Holds the Largest Share in the Axle & Propeller Shaft Market
Figure 19 Live Axle Occupies the Largest Share in Terms of Value
Figure 20 Front Axle Market Size in Terms of Value Projected to Witness A CAGR of 9.29% During the Forecast Period
Figure 21 Rear Propeller Shaft Holds the Largest Share Across All Regions in 2014
Figure 22 Europe is Estimated to Have the Largest Market for Carbon Fiber Propeller Shafts in Passenger Cars
Figure 23 Growth in Vehicle Production Will Drive the Market for Axles and Propeller Shafts
Figure 24 Market Share of FWD Vehicles Estimated to Grow
Figure 25 Porter’s Five Forces Analysis: Global Axle & Propelle Shaft Market
Figure 26 Value Chain Analysis
Figure 27 High Growth Anticipated for Carbon Fiber Propeller Shafts During the Forecast Period
Figure 28 Asia-Oceania Held the Largest Market Share in the Alloy Propeller Shaft Market in 2014
Figure 29 Passenger Car Carbon Fiber Propeller Shaft Market,2014 vs. 2019 ($Million)
Figure 30 Global Axle Market Snapshot, By Position, 2014 vs. 2019 ($Million)
Figure 31 Front Axle Market for Passenger Cars is Projected to Witness the Highest Growth During the Forecast Period
Figure 32 Rear Axle Market for Passenger Cars Estimated to Contribute $12,869.1 Million By 2019
Figure 33 Global Axle Market Snapshot, By Type, 2014 vs. 2019 ($Million)
Figure 34 Dead Axle Market: North America Estimated to Witness the Highest Growth
Figure 35 Growing Popularity of RWD and AWD Vehicles Driving the Growth of the Global Live Axle Market
Figure 36 Global Tandem Axle Market Snapshot, By Region,2014 vs. 2019 ($Million)
Figure 37 Rear Propeller Shaft Holds the Largest Share in the Global Propeller Shaft Market
Figure 38 Asia-Oceania is Projected to Grow at the Fastest Rate for the Next Five Years
Figure 39 Global Rear Propeller Shaft Market Snapshot:2014 vs. 2019 ($Million)
Figure 40 Asia-Oceania and North America are Estimated to Be the Key Markets for Inter-Axle Propeller Shafts
Figure 41 Global Axle & Propeller Shaft Market Size (‘000 Units): North America Estimated to Grow at the Highest CAGR
Figure 42 Asia-Oceania Axle & Propeller Shaft Market: Regional Snapshot
Figure 43 Growth Drivers: China
Figure 44 Germany Holds the Largest Share in Axle & Propeller Shaft Market in 2014
Figure 45 Growth Drivers: Germany
Figure 46 North American Axle & Propeller Shaft Market: Regional Snapshot
Figure 47 Growth Drivers: U.S.
Figure 48 RoW Axle & Propeller Shaft Market Size, 2014 vs. 2019 (‘000 Units)
Figure 49 Companies Adopted Expansion as Their Key Growth Strategy During 2010-2014
Figure 50 American Axle & Manufacturing, Inc. Limited Grew at the Highest Rate Between 2008–2013
Figure 51 ZF Frierichshafen AG: Market Leader in the Automotive Axle Market
Figure 52 Jtekt Corporation: Market Leader in the Automotive Propeller Shaft Market
Figure 53 Market Evolution Framework: Expansions Have Fuelled Growth and Innovation Between 2012 and 2014
Figure 54 Battle for Market Share: Expansion Was the Key Strategy
Figure 55 Region-Wise Revenue Mix of Five Major Players
Figure 56 Competitive Benchmarking of Key Market Players
Figure 57 Meritor, Inc.: Company Snapshot
Figure 58 SWOT Analysis: Meritor, Inc.
Figure 59 ZF Friedrichshafen AG: Company Snapshot
Figure 60 SWOT Analysis: ZF Friedrichshafen AG
Figure 61 American Axle & Manufacturing Holdings, Inc.: Company Snapshot
Figure 62 SWOT Analysis: American Axle & Manufacturing Holdings, Inc.
Figure 63 Dana Holding Corporation: Company Snapshot
Figure 64 SWOT Analysis: Dana Holding Corporation
Figure 65 GKN PLC: Company Snapshot
Figure 66 SWOT Analysis: GKN PLC
Figure 67 Showa Corporation: Company Snapshot
Figure 68 Hyundai Wia Corporation: Company Snapshot
Figure 69 Gestamp : Company Snapshot
Figure 70 Jtekt Corporation: Company Snapshot
Figure 71 IFA Rotorion - Holding GmbH: Company Snapshot

The global automotive axle & propeller market size in terms of value is estimated to be $35.8 Billion in 2014, which is projected to grow to $53.3 Billion by 2019 at a CAGR of 8.25%.

The growing demand of automobiles for daily commuting has resulted in a direct increase in demand for axles. Axles form an integral component for load bearing, steering, and driving the vehicle. Axles can be live or dead, based on the application and drivetrain of the vehicle. The functioning of the axles depends on the position of the axle in the vehicle. Heavy Commercial Vehicles (HCV) may integrate more than two axles depending on the application and role of the vehicle. Propeller shaft helps transfer the power from the engine to the wheels and plays a vital role in the drivetrain of the vehicle. The vehicle’s architecture and powertrain dictates the position of the propeller shaft.

Most automobiles use steel alloy for propeller shafts and axles. However, following increasing stringency of fuel-efficiency regulations, suppliers are focusing on implementing lightweight materials in their products; without sacrificing strength. The use of aluminum and carbon fiber has been limited in these components due to higher cost. With increasing demand for fuel-efficiency, lightweight materials are expected to witness increasing adoption in the automotive industry.

The Asia-Oceania and North American regions are growing at a good pace, given the increasing automotive production in these regions. Growing purchasing power, low penetration of automobiles, and infrastructure development in emerging nations such as China, Brazil, and India has resulted in an increase in demand for personal transportation and commercial vehicles. Asia-Oceania is estimated to be the largest market for axles and propeller shafts and is projected to grow at the highest rate from 2014–2019.

Global axle & propeller market is dominated by few top players such as ZF Friedrichshafen AG (Germany), American Axle & Manufacturing, Inc. (U.S.), Meritor, Inc. (U.S.), Showa Corporation (Germany), and GKN plc (U.K.) along with regional suppliers.

Axle & Propeller Shaft Market

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