HOME Top Market Reports Automotive Axle & Propeller Shaft Market by Position (Front, Rear, and Inter-Axle Propeller Shaft), Axle Type (Live, Dead, and Tandem Axle), Propeller Shaft Type (Single, and Multi Piece), Material (Alloy, and Carbon Fiber) - Global Forecast to 2021

Automotive Axle & Propeller Shaft Market by Position (Front, Rear, and Inter-Axle Propeller Shaft), Axle Type (Live, Dead, and Tandem Axle), Propeller Shaft Type (Single, and Multi Piece), Material (Alloy, and Carbon Fiber) - Global Forecast to 2021

By: marketsandmarkets.com
Publishing Date: February 2017
Report Code: AT 3160

 

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The demand for automotive axle and propeller shaft is governed by global vehicle production as well as engineering advancements with an aim to deliver highest vehicle performance. Global automotive axle & propeller shaft sales value is projected to grow at a CAGR of 8.22% from 2016 to 2021, to reach USD 58.07 Billion by 2021. The base year for the study is 2015, and the forecast period is from 2016 to 2021.

The objective of the study is to define, describe, and provide a detailed analysis of automotive axle and propeller shaft. The report segments the market by type, position, material, vehicle type, and region. The primary aim of the research study is to provide in-depth analysis of the global automotive axle and propeller shaft market, and detailed analysis of the dynamics driving the market. A detailed study of various market leaders has been done and opportunity analysis has been provided in the report.

Various secondary sources, such as company annual reports/presentations, press releases, as well as industry association publications such as International Organization of Motor Vehicle Manufacturers (OICA), Europe Automobile Manufacturers Association (EAMA), investor presentations and annual reports of key market players have been used to identify and collect information useful for an extensive commercial study.  The primary sources experts from automotive axle and propeller shaft manufacturers, automotive component manufacturers, distributors and suppliers of automotive components/parts have been interviewed to obtain and verify critical information, as well as to assess future prospects and market estimations. Bottom-up approach has been used for estimating and calculating the size of the automotive axle and propeller shaft market. The figure given below illustrates the break-up of the profile of industry experts who participated in primary discussions.

Automotive Axle & Propeller Shaft Market

To know about the assumptions considered for the study, download the pdf brochure

The automotive axle and propeller shaft ecosystem consists of axle and propeller shaft manufacturers such as ZF AG (Germany) and GKN Plc. (U.K.), which are the major players in this industry as well as raw material suppliers that include steel and carbon materials. Tier 1 companies directly supply axle and propeller shaft to automotive OEM’s, which are also their primary customers.

Target Audience

  • Manufacturers of automotive axle and propeller shaft
  • Manufacturers of automotive axle and propeller shaft components
  • Raw material suppliers for axles and propeller shafts or their components
  • Traders, distributors, and suppliers of automotive axles and propeller shafts or their components

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 Type
    • Single Piece Shaft
    • Multi Piece Shaft
  • Propeller Shaft market, By Material
    • Alloy
    • Carbon Fiber

Available Customizations

  • Company Information
    • Profiling Of Additional Market Players (Up to 3)

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Years Considered in the Report
    1.4 Currency & Pricing
    1.5 Package Size
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 19)
    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 Rising Commercial Vehicle Sales
                    2.4.2.2 Strong Recovery in Global Vehicle Production
           2.4.3 Supply-Side Analysis
                    2.4.3.1 Engineering Advancements
    2.5 Market Size Estimation
           2.5.1 Market Breakdown & Data Triangulation
           2.5.2 Assumptions

3 Executive Summary (Page No. - 30)

4 Premium Insights (Page No. - 35)
    4.1 Introduction
    4.2 Growing Opportunities in Global Automotive Axle & Propeller Shaft Market
    4.3 Global Automotive Propeller Shaft Market Growth, By Position (USD Million)
    4.4 Global Propeller Shaft Market Share Comparison, By Material and By Product Type
    4.5 Global Automotive Axle Market, By Type (USD Million)
    4.6 Life Cycle Analysis, By Region

5 Market Overview (Page No. - 40)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 Axle Market Segmentation: By Position
           5.2.2 Axle Market Segmentation: By Type
           5.2.3 Propeller Shaft Market Segmentation: By Position
           5.2.4 Propeller Shaft Market Segmentation: By Type
           5.2.5 Propeller Shaft Market Segmentation: By Material
           5.2.6 Axle & Propeller Shaft Market Segmentation: By Region
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Growth in Vehicle Production
                    5.3.1.2 Technological Advancements
                    5.3.1.3 Changing End User Preference
           5.3.2 Restraint
                    5.3.2.1 Pricing Pressure and Fluctuating Prices of Raw Materials
                    5.3.2.2 Vehicle Recall and Regulatory Concerns
           5.3.3 Opportunity
                    5.3.3.1 Growing Market for Awd Vehicles
                    5.3.3.2 Growing Demand for Aluminum Propeller Shaft
                    5.3.3.3 Ongoing Trend for E-Mobility
           5.3.4 Challenge
                    5.3.4.1 Weight and Cost Reduction
    5.4 Porter’s Five Force Analysis
           5.4.1 Threat of New Entrants
           5.4.2 Threat From Substitutes
           5.4.3 Bargaining Power of Suppliers
           5.4.4 Bargaining Power of Buyers
           5.4.5 Intensity of Competitive Rivalry

6 Ongoing Innovations in Automotive Axle and Propeller Shaft Market (Page No. - 54)

7 Global Automotive Axle Market, By Position (Page No. - 55)
    7.1 Introduction
           7.1.1 Front Axle
           7.1.2 Rear Axle

8 Global Automotive Axle Market, By Type (Page No. - 62)
    8.1 Introduction
           8.1.1 Dead Axle
           8.1.2 Live Axle
           8.1.3 Tandem Axle

9 Global Propeller Shaft Market, By Position (Page No. - 73)
    9.1 Introduction
           9.1.1 Front Propeller Shaft
           9.1.2 Rear Propeller Shaft
           9.1.3 Inter-Axle Propeller Shaft

10 Global Propeller Shaft Market, By Type (Page No. - 80)
     10.1 Introduction
             10.1.1 Single Piece Propeller Shaft
             10.1.2 Multi Piece Propeller Shaft

11 Global Passenger Car Propeller Shaft Market, By Material (Page No. - 87)
     11.1 Introduction
             11.1.1 Alloy Propeller Shaft
             11.1.2 Carbon Fiber Propeller Shaft

12 Global Axle & Propeller Shaft Market, By Region (Page No. - 92)
     12.1 Introduction
     12.2 Asia-Oceania
             12.2.1 China
             12.2.2 Japan
             12.2.3 South Korea
             12.2.4 India
     12.3 Europe
             12.3.1 Germany
             12.3.2 France
             12.3.3 U.K.
     12.4 North America
             12.4.1 U.S.
             12.4.2 Canada
             12.4.3 Mexico
     12.5 RoW
             12.5.1 South Africa
             12.5.2 Brazil

13 Competitive Landscape (Page No. - 115)
     13.1 Overview
     13.2 Market Ranking Analysis: Automotive Axle and Propeller Shaft Market
     13.3 Battle for Market Share: New Product Development Was the Key Strategy
     13.4 New Products Launched
     13.5 Contracts and Agreements
     13.6 Expansions
     13.7 Mergers and Acquisitions

14 Company Profiles (Page No. - 122)
(Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)*
     14.1 Meritor, Inc.
     14.2 ZF Friedrichshafen AG
     14.3 American Axle & Manufacturing Holdings, Inc.
     14.4 Dana Incorporated
     14.5 GKN PLC
     14.6 Showa Corporation
     14.7 Hyundai Wia Corporation
     14.8 Gestamp
     14.9 Jtekt Corporation
     14.10 IFA Rotorion - Holding GmbH
     14.11 RSB Group

*Details on Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments Might Not Be Captured in Case of Unlisted Companies.

15 Appendix (Page No. - 150)
     15.1 Key Insights of Industry Experts
     15.2 Discussion Guide
     15.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     15.4 Available Customizations
             15.4.1 Company Information
     15.5 Related Reports
     15.6 Author Details


List of Tables (88 Tables)

Table 1 Porter’s Five Forces Analysis
Table 2 Global Automotive Axle Market Size, By Position, 2014–2021 (‘000 Units)
Table 3 Global Automotive Axle Market Size, By Position, 2014–2021 (USD Million)
Table 4 Global Front Axle Market Size, By Application, 2014–2021 (‘000 Units)
Table 5 Global Front Axle Market Size, By Application, 2014–2021 (USD Million)
Table 6 Global Rear Axle Market Size, By Application, 2014–2021 (‘000 Units)
Table 7 Global Rear Axle Market Size, By Application, 2014–2021 (USD Million)
Table 8 Global Automotive Axle Market Size, By Type, 2014–2021 (‘000 Units)
Table 9 Global Automotive Axle Market Size, By Type, 2014–2021 (USD Million)
Table 10 Global Passenger Car Dead Axle Market Size, By Region, 2014–2021 (‘000 Units)
Table 11 Global Passenger Car Dead Axle Market Size, By Region, 2014–2021 (USD Million)
Table 12 Global LCV Dead Axle Market Size, By Region, 2014–2021 (‘000 Units)
Table 13 Global LCV Dead Axle Market Size, By Region, 2014–2021 (USD Million)
Table 14 Global HCV Dead Axle Market Size, By Region, 2014–2021 (‘000 Units)
Table 15 Global HCV Dead Axle Market Size, By Region, 2014–2021 (USD Million)
Table 16 Global Passenger Car Live Axle Market Size, By Region, 2014–2021 (‘000 Units)
Table 17 Global Passenger Car Live Axle Market Size, By Region, 2014–2021 (USD Million)
Table 18 Global LCV Live Axle Market Size, By Region, 2014–2021 (‘000 Units)
Table 19 Global LCV Live Axle Market Size, By Region, 2014–2021 (USD Million)
Table 20 Global HCV Front Live Axle Market Size, By Region, 2014–2021 (‘000 Units)
Table 21 Global HCV Front Live Axle Market Size, By Region, 2014–2021 (USD Million)
Table 22 Global HCV Rear Live Axle Market Size, By Region, 2014–2021 (‘000 Units)
Table 23 Global HCV Rear Live Axle Market Size, By Region, 2014–2021 (USD Million)
Table 24 Global Tandem Axle Market Size, By Region, 2014–2021 (‘000 Units)
Table 25 Global Tandem Axle Market Size, By Region, 2014–2021 (USD Million)
Table 26 Global Propeller Shaft Market Size, By Position, 2014–2021 (‘000 Units)
Table 27 Global Propeller Shaft Market Size, By Position, 2014–2021 (USD Million)
Table 28 Global Front Propeller Shaft Market Size, By Region, 2014–2021 (‘000 Units)
Table 29 Global Front Propeller Shaft Market Size, By Region, 2014–2021 (USD Million)
Table 30 Global Rear Propeller Shaft Market Size, By Region, 2014–2021 (‘000 Units)
Table 31 Global Rear Propeller Shaft Market Size, By Region, 2014–2021 (USD Million)
Table 32 Global Inter-Axle Propeller Shaft Market Size, By Region, 2014–2021 (‘000 Units)
Table 33 Global Inter-Axle Propeller Shaft Market Size, By Region, 2014–2021 (USD Million)
Table 34 Global Automotive Propeller Shaft Market Size, By Type, 2014–2021(‘000 Units)
Table 35 Global Automotive Propeller Shaft Market Size, By Type, 2014–2021(USD Million)
Table 36 Global Single Piece Propeller Shaft Market Size, By Vehicle Type, 2014–2021(‘000 Units)
Table 37 Global Single Piece Propeller Shaft Market Size, By Vehicle Type, 2014–2021(USD Million)
Table 38 Global Single Piece Propeller Shaft for LCV Market Size, By Region, 2014–2021(‘000 Units)
Table 39 Global Single Piece Propeller Shaft for LCV Market Size, By Region, 2014–2021(USD Million)
Table 40 Global Multi Piece Propeller Shaft for HCV Market Size, By Vehicle Type, 2014–2021(‘000 Units)
Table 41 Global Multi Piece Propeller Shaft Market Size, By Vehicle Type, 2014–2021(USD Million)
Table 42 Global Multi Piece Propeller Shaft Market Size, By Region, 2014–2021(‘000 Units)
Table 43 Global Multi Piece Propeller Shaft Market Size, By Region, 2014–2021(USD Million)
Table 44 Global Passenger Car Propeller Shaft Market Size, By Material, 2014–2021 (‘000 Units)
Table 45 Global Passenger Car Propeller Shaft Market Size, By Material, 2014–2021 (USD Million)
Table 46 Global Passenger Car Alloy Propeller Shaft Market Size, By Region, 2014–2021 (‘000 Units)
Table 47 Global Passenger Car Alloy Propeller Shaft Market Size, By Region, 2014–2021 (USD Million)
Table 48 Global Passenger Car Carbon Fiber Propeller Shaft Market Size, By Region, 2014–2021 (‘000 Units)
Table 49 Global Passenger Car Carbon Fiber Propeller Shaft Market Size, By Region, 2014–2021 (USD Million)
Table 50 Global Automotive Axle & Propeller Shaft Market Size, By Region, 2014–2021 (‘Ooo Units)
Table 51 Global Automotive Axle & Propeller Shaft Market Size, By Region, 2014–2021 (USD Million)
Table 52 Asia-Oceania: Automotive Axle & Propeller Market Size, By Country, 2014–2021 (‘000 Units)
Table 53 Asia-Oceania: Automotive Axle & Propeller Market Size, By Country, 2014–2021 (USD Million)
Table 54 China: Automotive Axle & Propeller Market Size, By Product Type, 2014–2021 (‘000 Units)
Table 55 China: Automotive Axle & Propeller Market Size, By Product Type, 2014–2021 (USD Million)
Table 56 Japan: Automotive Axle & Propeller Market Size, By Product Type, 2014–2021 (‘000 Units)
Table 57 Japan: Automotive Axle & Propeller Market Size, By Product Type, 2014–2021 (USD Million)
Table 58 South Korea: Automotive Axle & Propeller Market Size, By Product Type, 2014–2021 (‘000 Units)
Table 59 South Korea: Automotive Axle & Propeller Market Size, By Product Type, 2014–2021 (USD Million)
Table 60 India: Automotive Axle & Propeller Market Size, By Product Type, 2014–2021 (‘000 Units)
Table 61 India: Automotive Axle & Propeller Market Size, By Product Type, 2014–2021 (USD Million)
Table 62 Europe: Automotive Axle & Propeller Shaft Market Size, By Country, 2014–2021 (‘000 Units)
Table 63 Europe: Automotive Axle & Propeller Shaft Market Size, By Country, 2014–2021 (USD Million)
Table 64 Germany: Automotive Axle & Propeller Shaft Market Size, By Product Type, 2014–2021 (‘000 Units)
Table 65 Germany: Automotive Axle & Propeller Shaft Market Size, By Product Type, 2014–2021 (USD Million)
Table 66 France: Automotive Axle & Propeller Shaft Market Size, By Product Type, 2014–2021 (‘000 Units)
Table 67 France: Automotive Axle & Propeller Shaft Market Size, By Product Type, 2014–2021 (USD Million)
Table 68 The U.K.: Automotive Axle & Propeller Shaft Market Size, By Product Type, 2014–2021 (‘000 Units)
Table 69 The U.K.: Automotive Axle & Propeller Shaft Market Size, By Product Type, 2014–2021 (USD Million)
Table 70 North America: Automotive Axle & Propeller Shaft Market Size, By Country, 2014–2021 (‘000 Units)
Table 71 North America: Automotive Axle & Propeller Shaft Market Size, By Country, 2014–2021 (USD Million)
Table 72 U.S.: Automotive Axle & Propeller Shaft Market Size, By Product Type, 2014–2021 (‘000 Units)
Table 73 U.S.: Automotive Axle & Propeller Market Size, By Product Type, 2014–2021 (USD Million)
Table 74 Canada: Automotive Axle & Propeller Market Size, By Product Type, 2014–2021 (‘000 Units)
Table 75 Canada: Automotive Axle & Propeller Market Size, By Product Type, 2014–2021 (USD Million)
Table 76 Mexico: Automotive Axle & Propeller Market Size, By Product Type, 2014–2021 (‘000 Units)
Table 77 Mexico: Automotive Axle & Propeller Market Size, By Product Type, 2014–2021 (USD Million)
Table 78 RoW: Automotive Axle & Propeller Shaft Market Size, By Country, 2014–2021 (‘000 Units)
Table 79 RoW: Automotive Axle & Propeller Shaft Market Size, By Country, 2014–2021 (USD Million)
Table 80 South Africa: Automotive Axle & Propeller Market Size, By Product Type, 2014–2021 (‘000 Units)
Table 81 South Africa: Automotive Axle & Propeller Market Size, By Product Type, 2014–2021 (USD Million)
Table 82 Brazil: Automotive Axle & Propeller Market Size, By Product Type, 2014–2021 (‘000 Units)
Table 83 Brazil: Automotive Axle & Propeller Market Size, By Product Type, 2014–2021 (USD Million)
Table 84 Automotive Axle and Propeller Shaft Market Ranking: 2015
Table 85 New Product Launches, 2012–2016
Table 86 Contracts and Agreements, 2013–2015
Table 87 Expansions, 2012–2016
Table 88 Mergers and Acquisitions, 2012–2016


List of Figures (60 Figures)

Figure 1 Automotive Axle & Propeller Shaft Market Segmentation
Figure 2 Research Design
Figure 3 Research Methodology Model
Figure 4 Breakdown of Primary Interviews: By Company Type, Designation & Region
Figure 5 Major Global Vehicle Production, By Country, 2014–2015 (‘000 Units)
Figure 6 Market Size Estimation Methodology: Bottom-Up Approach
Figure 7 Data Triangulation
Figure 8 Key Countries of Automotive Axle & Propeller Shaft Market (USD Million): China is Estimated to Be the Largest Market During 2016– 2021 Period
Figure 9 Global Automotive Axle Market Outlook (2016–2021), By Type: Live Axle Segment to Lead the Market in Terms of Value
Figure 10 Automotive Axle & Propeller Shaft Market Share: Asia–Oceania Projected to Be the Fastest Growing Market (USD Million) During the Forecast Period (2016–2021)
Figure 11 Global Automotive Propeller Shaft Market, By Region, 2016 vs 2021 (USD Million)
Figure 12 Increased Focus on Optimizing Overall Vehicle Performance to Drive Global Automotive Axle & Propeller Shaft Market, 2016-2021
Figure 13 Front Propeller Shaft Market to Grow at the Fastest Rate Among Other Automotive Propeller Shafts Market During 2016-2021 Period
Figure 14 Alloy and Single Piece Shaft Expected to Have the Largest Market Share in 2016
Figure 15 Asia-Oceania Market Dominates the Automotive Axle Market in Both the Segments, During the Forecast Period
Figure 16 Asia-Oceania Region Will Continue to Be in Growing Stage
Figure 17 Axle Market Segmentation: By Position
Figure 18 Axle Market Segmentation: By Type
Figure 19 Propeller Shaft Market Segmentation: By Position
Figure 20 Propeller Shaft Market Segmentation: By Type
Figure 21 Propeller Shaft Market Segmentation : By Material
Figure 22 Axle & Propeller Shaft Market Segmentation: By Region
Figure 23 Growing Demand for Light Weight Vehicles Plays Pivotal Role in Driving This Market
Figure 24 Porter’s Five Forces Model
Figure 25 Initial Investment Coupled With the Existing Competition in the Automotive Axle and Propeller Shaft Industry has the Highest Impact on Market Entrants
Figure 26 Rising Demand for Front Wheel Drive Vehicles Impacts Threat of Substitutes
Figure 27 Higher Supplier Concentration & Low Product Differentiation to Supplier Impacts the Bargaining Power of Suppliers
Figure 28 Limited Number of Buyers Leads to an Increase in Their Bargaining Power
Figure 29 Established Players in This Market Affects the Intensity of Competitive Rivalry
Figure 30 Global Axle Market Snapshot, By Position, During 2016-2021 (USD Million)
Figure 31 Passenger Car is Projected to Be the Largest Market for Front Axle Segment During 2016- 2021 (USD Million)
Figure 32 Passenger Car Market of the Rear Axle Segment is Projected to Witness the Highest Growth, 2016 vs 2021 (USD Million)
Figure 33 Global Axle Market Snapshot, By Type, During the Forecast Period (USD Million)
Figure 34 Global Automotive Dead Axle Market: Asia-Oceania Acquires the Largest Market Share in 2016
Figure 35 Rear Propeller Shaft Holds the Largest Share in Global Propeller Shaft Market, During 2016-2021 (USD Million)
Figure 36 Asia-Oceania Market for Front Propeller Shaft, is Projected to Grow at A Fastest Rate During 2016–2021 Period (USD Million)
Figure 37 Rear Propeller Shaft Market Snapshot: During the Forecast Period (USD Million)
Figure 38 Global Propeller Shaft Market Snapshot, By Type, During the Forecast Period (USD Million)
Figure 39 Single Piece Propeller Shaft Market: LCV Segment is Estimated to Witness Highest Growth During the Forecast Period
Figure 40 High Growth Rate Anticipated for Carbon Fiber Propeller Shaft During the Forecast Period
Figure 41 Global Axle & Propeller Shaft Market Size (‘000 Units): North America Estimated to Grow at A Highest CAGR
Figure 42 Asia-Oceania Axle & Propeller Shaft Market: Regional Snapshot
Figure 43 Axle & Propeller Shaft Market Share, 2016 (USD Million): Germany is Estimated to Have Highest Share
Figure 44 North American Axle & Propeller Shaft Market: Growing Demand for Premium Passenger Cars in U.S. Accelerates the Growth of Axle & Propeller Shaft Market
Figure 45 Companies Adopted New Product Development as A Key Growth Strategy From 2012 to 2016
Figure 46 Market Evaluation Framework: Expansions Augmented Overall Market From 2012 to 2016
Figure 47 Company Snapshot: Meritor Inc.
Figure 48 SWOT Analysis: Meritor, Inc.
Figure 49 Company Snapshot: ZF Friedrichshafen Ag
Figure 50 SWOT Analysis: ZF Friedrichshafen Ag
Figure 51 Company Snapshot : American Axle and Manufacturing Holdings
Figure 52 SWOT Analysis: American Axle & Manufacturing Holdings, Inc.
Figure 53 Company Snapshot: Dana Incorporated
Figure 54 SWOT Analysis: Dana Incorporated
Figure 55 Company Snapshot : GKN PLC
Figure 56 SWOT Analysis: GKN PLC
Figure 57 Company Snapshot : Showa Corporation
Figure 58 Company Snapshot : Hyundai Wia Corporation
Figure 59 Company Snapshot: Gestamp
Figure 60 Company Snapshot: Jtekt

The global automotive axle and propeller market size, in terms of value, is estimated to be USD 39.11 Billion in 2016, and is projected to grow to USD 58.07 Billion by 2021, at a CAGR of 8.22%. Growing global vehicle production, and commercialization of new technologies towards light weighting overall vehicle are expected to drive the axle and propeller shaft market.

The live axle segment is set to register the highest growth rate in comparison with dead and tandem axles. Increasing focus towards optimizing vehicle performance and delivering greater torque would augment the live axle market. Also, growing vehicle production as well as engineering advancements to cater to the changing customer needs would drive the market.

The carbon fiber propeller shaft segment is expected to be the fastest growing market. 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 cost is expected to decline with mass adoption and enhanced manufacturing process, which is projected to make carbon fiber propeller shaft more competitive in the marketplace. These factors would make the carbon fiber propeller shaft segment one of the fastest growing markets.

The Asia-Oceania is the largest market for automotive axle & propeller shaft. Asia-Oceania is estimated to be the largest market for axles and propeller shafts, and is projected to grow at the highest rate from 2016–2021 period. In recent years, the region has emerged as a hub for automobile production. Infrastructural developments and industrialization activities in emerging economies have opened new avenues, creating several opportunities for OEMs along with automotive component suppliers.

Automotive Axle & Propeller Shaft Market

However, the global automotive axle & propeller shaft market faces significant challenges in terms of intense competition in the market place, which includes various multinational companies as well as regional players. Furthermore, maintaining or enhancing cost competitiveness for axle and propeller shaft manufacturers is also a major challenge.

The automotive axle & propeller market is dominated by major global players such as ZF Friedrichshafen AG (Germany), American Axle & Manufacturing, Inc. (U.S.), Meritor, Inc. (U.S.), Showa Corporation (Japan), and GKN plc (U.K.).

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