Automotive Axle & Propeller Shaft Market

Automotive Axle & Propeller Shaft Market by Axle Type (Live, Dead & Tandem), Axle Position (Front & Rear), Propeller Shaft Type (Single & Multi-Piece), Passenger Car Propeller Shaft Material (Alloy & Carbon Fiber) and Region - Global Forecast to 2025

Report Code: AT 3160 Jul, 2020, by marketsandmarkets.com

[218 Pages Report] The global automotive axle and propeller shaft market size is expected to grow at a CAGR of 3.2%, by value, during the forecast period. As per our post-COVID forecasts, the market is estimated to reach USD 21.7 billion in 2020 and is projected to achieve USD 25.4 billion by 2025. Post-COVID, factors that push the market forward are a steady increase in vehicle production, demand for luxury vehicles, AWD vehicles, and commercialization of new technologies towards light-weighting of the overall vehicle is expected to drive the automotive axle and propeller shaft market

Automotive Axle & Propeller Shaft Market

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Covid-19 Impact On Automotive Axle and Propeller Shaft Market

The automotive axle and propeller shaft market includes major Tier I and II suppliers like ZF, GKN Automotive, Dana Incorporated, Meritor, Automotive axle & manufacturing, and others. These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, South America, and Middle East & Africa. COVID-19 has impacted all of its businesses globally; these players have announced a temporary shutdown of production due to lockdown and also to protect the safety of their employees, which basically created lowered demand and supply chain disruptions in US, France, Germany, Italy, and Spain during the COVID-19 pandemic. As a result, the demand for overall automotive production has decline, which directly affects the automotive axle and propeller shaft market in 2020. Going forward, manufacturers are likely to adjust production to prevent bottlenecks and plan production according to demand from OEMs and tier 1 manufacturers.  

Major OEM manufacturers lost revenues in Q1 and Q2 2020, in Q3 2020. Vehicle production is likely to resume, however, not at full capacity due to the severity of the pandemic, due to which, especially in the US and major European countries, tier 1 players suspect a further decline in revenue in the remaining quarters of 2020.

Automotive Axle and Propeller Shaft Market: Market Dynamics:

Driver: Increase In Demand For Vehicle Production

The stringent fuel efficiency regulations in developed, as well as developed markets, have fueled the R&D of better technologies. The research is focused on the development of drivetrain & chassis components that minimize power loss and increase the efficiency of the vehicle by transferring more power from the engine to the wheels. With increasing power requirements in heavy-duty applications, shafts with higher stress handling capabilities are being demanded. This reduces the maintenance cost and downtime of the vehicle, which improves the efficiency of the commercial vehicles in terms of operation. Japan is a technologically advanced automotive market where small cars are preferred owing to their fuel efficiency and lower CO2 emissions. Japan is home to OEMs such as Honda Motor Company, Ltd., Mitsubishi Motors Corporation, and Toyota Motor Corporation, which have successfully established a global footprint with a specific focus on quality and fuel-efficient vehicles. Japan is also a leader in the usage of carbon fiber in automotive applications, and companies such as Mitsubishi Rayon Co., Ltd. and Toray Industries, Inc. serve the carbon fiber automotive market in Japan. Axles and propeller shafts are being developed to handle increased operating stress in sectors such as construction, long haul, and mining to reduce downtime. Thus, advancement in technologies to optimize overall vehicle performance would boost the axle and propeller shaft market.

Restraint: Fluctuating prices of raw materials

The global commodity market has been experiencing price volatility in the current years. This has adversely affected commodities like steel and aluminum, the principle raw materials of the axle, and the propeller shaft market. Along with raw materials, the prices of semi-finished products such as castings, forgings, bearings, and other components have also witnessed a similar trend. Suppliers, as well as manufacturers, are also under constant pressure from OEMs to reduce their prices. This trend might affect the automotive axle and propeller shaft market. However, the impact will be limited.

Opportunity: Growing market for AWD vehicles

The market demand for AWD vehicles is increasing owing to the increased need for stability, safety, and driving dynamics from end-users. AWD vehicles offer the advantage of better traction in harsh weather conditions and off-road applications along with an increase in fuel efficiency than conventional drivetrains. The increase in the adoption of such vehicles is directly proportional to the increasing demand for propeller shafts.

The market for AWD vehicles is also growing owing to the increased demand for SUVs—one of the biggest adopters of this drivetrain. Currently, many passenger cars and SUVs in the US have an RWD or AWD drivetrain. Hence, the demand for live axles has grown consistently in North America. Thus, the market for automotive axle and propeller shaft would rise.

Challenges: Growing government initiative for weight and cost reduction

As environmental norms become more stringent and consumers demand vehicles with better fuel efficiency, automotive suppliers are looking at lighter components for weight reduction to meet the demand for lower emissions and better mileage. High strength steel and aluminum offer approximately 20% and 40% weight advantage but at an increased cost range of 15–30%. Tier I suppliers are developing lightweight solutions through technological advancements without compromising on the structural strength of the components. For instance, the use of carbon fiber epoxy composite instead of conventional metals for manufacturing propeller shafts. But the cost of using such advanced and expensive technologies has resulted in increasing the overall production cost.

Automotive Axle & Propeller Shaft Market Ecosystem

Single Piece Leads the Automotive Propeller Shaft Segment Under the Forecast Period

The single piece is estimated to be the largest market for automotive propeller shaft market during the forecast period. The single-piece propeller shaft is usually preferred in light-duty vehicles owing to the lesser distance between the engine and the rear axle along with benefits such as minimal frictional as well as mechanical losses. Also, these single-piece shafts are lighter in weight than multi-piece, which offers efficient performance at a higher speed. Due to these factors, the single-piece propeller shaft holds the largest share during the forecast period.

Live Axle Segment is Expected to be the Largest Market, by Axle Type, During the Forecast Period

The live axle segment is set to register the largest market as compared with dead and tandem axles. Increasing focus towards optimizing vehicle performance and delivering higher torque would augment the live axle market. Also, growing vehicle production, as well as engineering advancements to cater to the changing customers' needs, would drive the market.

Alloy is Estimated to be the Highest Consumed Material During the Forecast Period

Alloys hold the maximum market share in the passenger car propeller industry. A majority of passenger car and light commercial vehicles are installed with propeller shaft made up of alloy material owing to its benefits such as satisfactory strength, stiffness, and lower cost. However, in case of high-speed performance, and efficient torque requirement, either the diameter of the metal shaft needs to be increased, or manufactured in the form of two or three-piece component. The shaft joints and couplings handle the service loads, high angles, terrain change, and need to have a support structure that further results in increased weight. Hence, the ongoing trend is shifting to design and develop propeller shafts, which are lightweight and cost-effective. As a result, suppliers are now more inclined toward using lightweight materials (carbon fiber) with high durability and comfort factors while designing drivetrain components, especially propeller shafts.

Asia Oceania is Expected to Account for the Largest Market During the Forecast Period

Europe is estimated to be the second-largest and established market for automotive axle and propeller shafts and is projected to witness stable growth in the coming years. The major growth driver is expected to be stringent fuel-economy norms, which would encourage companies to invest in R&D to develop lightweight solutions for vehicles. The high demand for vehicles in Germany, the UK, and France compared with other countries, along with the rise in premium vehicle sales, are estimated to drive the demand for axle and propeller shafts. Rising preference for comfort in vehicles by end-users would also positively impact the demand for a better quality of axles and propellers. Also, ZF Friedrichshafen AG (Germany), Dana Incorporated (US), GKN PLC (UK), IFA Rotorion (Germany), and Gestamp (Spain) are the key suppliers in the European market which are continually making R&D efforts to extend further the growth of automotive axle and propeller shaft market in Europe.

The recent COVID-19 pandemic has impacted the global automotive industry, and many manufacturing companies had supply chain disruptions due to China lockdown, where partially most of the parts are imported. For instance, the UK, France, and Spain, which account for significant vehicle sales in Europe, is severely impacted by pandemic. Tier 1 suppliers around the globe have placed production lines on halt or shut them down completely. Also, legal and trade restrictions, such as sealed borders, increased the shortage of required parts. Such disruptions in the supply chain are expected to affect the assembly of OEMs in Europe and North America.

Automotive Axle & Propeller Shaft Market by Region

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Key Market Players

Some of the key players in the automotive axle and propeller shaft market are ZF Friedrichshafen AG (Germany), Dana Incorporated (US), GKN Automotive (UK), American Axle & Manufacturing, Inc. (US), Meritor, Inc. (U.S.), Showa Corporation (Japan), Hyundai Wia Corporation (South Korea), JTEKT Corporation (Japan), and GKN plc (UK). ZF and GKN adopted the strategies of expansion, and new product development, to retain its leading position in the automotive axle and propeller market.

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Scope of the Report

:

Report Metric

Details

Market Size Available for years

2016-2025

Base year considered

2019

Forecast period

2020–2025

Forecast units

Value (USD Million) and Volume (Thousand Units)

Segments covered

By axle type, axle position, propeller shaft type, propeller shaft by position, passenger car propeller shaft material & by Region

Automotive Axle market, By Type

  • Dead
  • Live
  • Tandem

Automotive Axle market, By Axle Position

  • Front
  • Rear

Automotive Propeller Shaft Market, By Position

  • Front
  • Rear
  • Interaxle

Automotive Propeller shaft market, By Type

  • Single piece
  • Multi-piece

Passenger Car Propeller Shaft Market, By Material

  • Alloy
  • Carbon fiber

Automotive Axle And Propeller Shaft market, By Region

  • Asia Oceania
  • Europe
  • North America
  • RoW

Recent Developments

  • In February 2020, Dana Launched the production of the Spicer Electrified eS9000r e-Axle for class 4 and class 5 commercial vehicles in North America and is the only supplier to manufacture all components in a system such as an axle, motor, gear, and invertor.
  • In January 2020, GKN Automotive and Delta Electronics Inc. announced their collaboration on the joint development that is expected to enable the rapid acceleration of next-generation integrated 3-in-1 eDrive systems of power classes from 80kW to 155kW. The joint development of advanced eDrive technology is expected to see inverters supplied by Delta Electronics Inc. integrated with GKN Automotive's eMotor and gearbox systems in a 3-in-1 solution.
  • In May 2019, Meritor announced plans to acquire AxleTech for approximately USD 175 million. The addition of AxleTech will enhance Meritor’s growth platform, bringing a highly complementary global product portfolio across the off-highway, defense, specialty, and aftermarket segments. AxleTech’s offerings include a full product line of independent suspensions, axles, braking solutions, and drivetrain components. These capabilities will enable Meritor to offer global customers a more comprehensive array of differentiated products and solutions while further diversifying the company’s portfolio.
  • In February 2019, ZF’s AxTrax AVE electric portal axle was awarded the 2019 EBUS Award in the category “Drives for Battery Buses.” AxTrax AVE electric portal axle makes it easier for bus manufacturers and public transport authorities to switch over to quiet, zero local emission drives. This driven axle can be operated by all-electric not only by battery or overhead lines but also in hybrid or fuel cell configurations. The flexibility in configuration options and the selection of energy source makes it the ideal solution for almost any urban environment.
  • In April 2018, American Axle Manufacturing (AAM) and Liuzhou Wuling Automobile Industry Co. Ltd., a subsidiary of Guangxi Automobile Group Co., Ltd., entered into a joint venture agreement to manufacture driveline systems. Liuzhou AAM plans to provide both conventional and electric drive axles in China. Independent rear axles and driveheads by Liuzhou AAM will meet the needs of the fast-growing segments of multi-purpose vehicles and crossovers, including vans, minivans, and sport utility vehicles.

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TABLE OF CONTENTS
1INTRODUCTION (Page No. - 30)
1.1Objectives of the Study
1.2Market Definition
1.3Market Scope
Figure 1Automotive axle & propeller shaft market segmentation
1.3.1Inclusions & exclusions
Table 1Inclusions & exclusions for the automotive axle & propeller shaft market
1.3.2Years considered in the report
1.4Package Size
1.5Limitations
1.6Stakeholders
1.7Summary of Changes Made
2RESEARCH METHODOLOGY (Page No. - 34)
2.1Research Data
Figure 2Research design
Figure 3Research methodology model
2.1.1Secondary data
2.1.1.1Key secondary sources for vehicle production
2.1.1.2Key secondary sources for market sizing
2.1.1.3Key data from secondary sources
2.1.2Primary data
Figure 4Breakdown of primary interviews: By company type, designation & region
2.1.3Sampling techniques & data collection methods
2.1.4Primary participants
2.2Market Size Estimation
Figure 5Market size estimation methodology: Bottom-up approach
2.3Market Breakdown & Data Triangulation
Figure 6Data triangulation
2.4Assumptions
3EXECUTIVE SUMMARY (Page No. - 42)
3.1Pre- & Post-COVID-19 Scenario
Figure 7Pre- & post-COVID-19 scenario: Automotive axle and propeller shaft market, 2016-2025 (USD Billion)
Figure 8Automotive axle and propeller shaft market share, 2020 (USD Million)
3.2Automotive Axle and Propeller Shaft: Market outlook
Figure 9Automotive axle and propeller shaft market, by region, 2020 & 2025 (USD Million)
4PREMIUM INSIGHTS (Page No. - 47)
4.1Automotive Axle and Propeller Shaft Market Trends, Forecast & Opportunities
Figure 10Increased focus on weight reduction and optimized vehicle performance prompt usage of lightweight materials which bring lucrative opportunities for axle and propeller shaft manufacturers
4.2Automotive Axle and Propeller Shaft Market, by Country
Figure 11China is projected to grow at the highest cagr during the forecast period
4.3Automotive Axle and Propeller Shaft Market, by Product Type
Figure 12Axle segment to account for the larger share in the automotive axle and propeller shaft market, 2020 vs. 2025 (USD Million)
4.4Automotive Axle Market, by Type
Figure 13Live axle segment to lead the market during the forecast period, 2020 vs.2025 (USD Million)
4.5Automotive Axle Market, by Position
Figure 14Rear axle segment projected to lead the market, 2020 VS.2025 (USD Million)
4.6Automotive Propeller Shaft Market, by Type
Figure 15Single piece segment projected to lead the market, 2020 VS.2025 (USD Million)
4.7Passenger Car Propeller Shaft Market, by Material
Figure 16Alloy segment projected to dominate the market, 2020 Vs. 2025 (USD Million)
5MARKET OVERVIEW (Page No. - 51)
5.1Introduction
5.2Market Dynamics
Figure 17Growing demand for light weight vehicles plays pivotal role in driving this market
5.2.1Drivers
5.2.1.1Technological advancements
5.2.1.2Changing end user preference
5.2.2Restraints
5.2.2.1Fluctuating prices of raw materials
Table 2Comparison of automotive raw material price vs. conventional raw material price
5.2.2.2Vehicle recall and regulatory concerns
5.2.3Opportunities
5.2.3.1Growing market for AWD vehicles
5.2.3.2Growing demand for aluminum propeller shaft
Table 3Weight reduction goals for light duty vehicles
5.2.3.3Ongoing trend for e-mobility
Table 4Battery electric vehicle sales, by country, 2017 vs. 2018 (Units)
5.2.4Challenges
5.2.4.1Growing government initiative for weight and cost reduction
5.3Impact of Market Dynamics
Table 5Axle and propeller shaft market: Impact of market dynamics
5.4Porter's Five Force Analysis
Figure 18Porter's five forces model
Table 6Porter's five forces analysis
5.4.1Threat of new entrants
Figure 19Initial investment coupled with the existing competition in the automotive axle and propeller shaft industry has the highest impact on market entrants
5.4.2Threat from substitutes
Figure 20Rising demand for front wheel drive vehicles impacts threat of substitutes
5.4.3Bargaining power of suppliers
Figure 21Higher supplier concentration & low product differentiation to supplier impacts the bargaining power of suppliers
5.4.4Bargaining power of buyers
Figure 22Limited number of buyers leads to an increase in their bargaining power
5.4.5Intensity of competitive rivalry
Figure 23Established players in this market affects the intensity of competitive rivalry
6ONGOING INNOVATIONS IN THE AUTOMOTIVE AXLE AND PROPELLER SHAFT MARKET (Page No. - 62)
7COVID-19 IMPACT ANALYSIS (Page No. - 63)
7.1COVID-19 Impact Analysis on the Automotive Market
Table 7Europe: Loss in vehicle production due to plant shutdowns, by country, (Units)
Figure 24Automotive production: Pre- Vs. Post-COVID-19 scenario, 2017-2025 ('000 Units)
Table 8Automotive production: pre- Vs. post-COVID-19 scenario, 2017-2025 ('000 Units)
7.2COVID-19 Impact Analysis on Automotive Axle and Propellar Shaft Market
7.2.1Automotive axle and propeller shaft market scenario analysis
Figure 25Automotive axle and propellar shaft market scenario, 2017-2025 (USD Million)
7.2.1.1Realistic scenario
Table 9Automotive axle and propeller shaft market (realistic scenario), by region, 2017-2025 (USD Million)
7.2.1.2Low impact scenario
Table 10Automotive axle and propeller shaft market (low impact scenario), by region, 2017-2025 (USD Million)
7.2.1.3High impact scenario
Table 11Automotive axle and propeller shaft market (high impact scenario), by region, 2017-2025 (Million USD)
8AUTOMOTIVE AXLE MARKET, BY TYPE (Page No. - 69)
8.1Introduction
8.1.1Research methodology
8.1.2Assumptions/limitations
8.1.3Industry insights
Figure 26Automotive axle market, by type, 2020-2025 (USD Million)
Table 12Automotive axle market, by type, 2016-2019 ('000 Units)
Table 13Automotive axle market, by type, 2016-2019 (USD Million)
Table 14Automotive axle market, by type, 2020-2025 ('000 Units)
Table 15Automotive axle market, by type, 2020-2025 (USD Million)
8.2Dead
8.2.1Asia oceania holds the largest share for dead axle market
Table 16Passenger car dead axle market, by region, 2016-2019 ('000 Units)
Table 17Passenger car dead axle market, by region, 2016-2019 (USD Million)
Table 18Passenger car dead axle market, by region, 2020-2025 ('000 Units)
Table 19Passenger car dead axle market, by region, 2020-2025 (USD Million)
Table 20LCV dead axle market, by region, 2016-2019 ('000 Units)
Table 21LCV dead axle market, by region, 2016-2019(USD Million)
Table 22LCV dead axle market, by region, 2020-2025 ('000 Units)
Table 23LCV dead axle market, by region, 2020-2025 (USD Million)
Table 24HCV dead axle market, by region, 2016-2019 ('000 Units)
Table 25HCV dead axle market, by region, 2016-2019 (USD Million)
Table 26HCV dead axle market, by region, 2020-2025 ('000 Units)
Table 27HCV dead axle market, by region, 2020-2025 (USD Million)
8.3Live Axle
8.3.1Live axle leads the market, by position
Table 28Passenger car live axle market, by region, 2016-2019 ('000 Units)
Table 29Passenger car live axle market, by region, 2016-2019 (USD Million)
Table 30Passenger car live axle market, by region, 2020-2025 ('000 Units)
Table 31Passenger car live axle market, by region, 2020-2025 (USD Million)
Table 32LCV live axle market, by region, 2016-2019 ('000 Units)
Table 33LCV live axle market, by region, 2016-2019 (USD Million)
Table 34LCV live axle market, by region, 2020-2025 ('000 Units)
Table 35LCV live axle market, by region, 2020-2025 (USD Million)
Table 36HCV live axle market, by region, 2016-2019 ('000 Units)
Table 37HCV live axle market, by region, 2016-2019 (USD Million)
Table 38HCV live axle market, by region, 2020-2025 ('000 Units)
Table 39HCV live axle market, by region, 2020-2025 (USD Million)
8.4Tandem
8.4.1Asia Oceania holds the maximum share for tandem axle
Table 40Tandem axle market, by region, 2016-2019 ('000 Units)
Table 41Tandem axle market, by region, 2016-2019 (USD Million)
Table 42Tandem axle market, by region, 2020-2025 ('000 Units)
Table 43Tandem axle market, by region, 2020-2025 (USD Million)
9AUTOMOTIVE AXLE MARKET, BY POSITION (Page No. - 84)
9.1Introduction
9.1.1Research methodology
9.1.2Assumptions/limitations
9.1.3Industry insights
Figure 27Automotive axle market, by position, 2020 Vs. 2025 (USD Million)
Table 44Automotive axle market, by position, 2016-2019 ('000 Units)
Table 45Automotive axle market, by position, 2016-2019(USD Million)
Table 46Automotive axle market, by position, 2020-2025 ('000 Units)
Table 47Automotive axle market, by position, 2020-2025 (USD Million)
9.2Front
9.2.1Passenger car dominate the automotive front axle market
Figure 28Automotive front axle market, by vehicle type, 2020-2025 (USD MIllion)
Table 48Automotive front axle market, by vehicle type, 2016-2019 ('000 Units)
Table 49Automotive front axle market, by vehicle type, 2016-2019 (USD Million)
Table 50Automotive front axle market, by vehicle type, 2020-2025 ('000 Units)
Table 51Automotive front axle market, by vehicle type, 2020-2025 (USD Million)
9.3Rear Axle
9.3.1Heavy commercial vehicle leads the automotive rear axle market in 2020
Figure 29Automotive rear axle market, by vehicle type, 2020-2025 (USD MIllion)
Table 52Automotive rear axle market, by vehicle type, 2016-2019 ('000 Units)
Table 53Automotive rear axle market, by vehicle type, 2016-2019 (USD Million)
Table 54Automotive rear axle market, by vehicle type, 2020-2025 ('000 Units)
Table 55Automotive rear axle market, by vehicle type, 2020-2025 (USD Million)
10AUTOMOTIVE PROPELLER SHAFT MARKET, BY TYPE (Page No. - 92)
10.1Introduction
10.1.1Research methodology
10.1.2Assumptions/limitations
10.1.3Industry insights
Figure 30Automotive propeller shaft market, by type, 2020-2025 (USD Million)
Table 56Automotive propeller shaft market, by type, 2016-2019 ('000 Units)
Table 57Automotive propeller shaft market, by type, 2016-2019 (USD Million)
Table 58Automotive propeller shaft market, by type, 2020-2025('000 Units)
Table 59Automotive propeller shaft market, by type, 2020-2025 (USD Million)
10.2Single Piece
10.2.1Single Piece dominate the automotive propeller shaft market
Table 60Single piece: Automotive propeller shaft market, by region, 2016-2019 ('000 Units)
Table 61Single piece: Automotive propeller shaft market, by region, 2016-2019 (USD Million)
Table 62Single piece: Automotive propeller shaft market, by region, 2020-2025 ('000 Units)
Table 63Single piece: Automotive propeller shaft market, by region, 2020-2025 (USD Million)
Table 64Single piece: Automotive propeller shaft market, by vehicle type, 2016-2019 ('000 Units)
Table 65Single piece: Automotive propeller shaft market, by vehicle type, 2016-2019 (USD Million)
Table 66Single piece: Automotive propeller shaft market, by vehicle type, 2020-2025 ('000 Units)
Table 67Single piece: Automotive propeller shaft market, by vehicle type, 2020-2025 (USD Million)
Table 68Passenger car: Single piece propeller shaft market, by region, 2016-2019 ('000 Units)
Table 69Passenger car: Single piece propeller shaft market, by region, 2016-2019 (USD Million)
Table 70Passenger car: Single piece propeller shaft market, by region, 2020-2025 ('000 Units)
Table 71Passenger car: Single piece propeller shaft market, by region, 2020-2025 (USD Million)
Table 72LCV: Single piece propeller shaft market, by region, 2016-2019 ('000 Units)
Table 73LCV: Single piece propeller shaft market, by region, 2016-2019 (USD Million)
Table 74LCV: Single piece propeller shaft market, by region, 2020-2025 ('000 Units)
Table 75LCV: Single piece propeller shaft market, by region, 2020-2025 (USD Million)
Table 76HCV: Single piece propeller shaft market, by region, 2016-2019 ('000 Units)
Table 77HCV: Single piece propeller shaft market, by region, 2016-2019 (USD Million)
Table 78HCV: Single piece propeller shaft market, by region, 2020-2025 ('000 Units)
Table 79HCV: Single piece propeller shaft market, by region, 2020-2025 (USD Million)
10.3Multi Piece
10.3.1Trucks held the maximum share in 2020 for multi piece propeller shaft
Table 80Multi piece: Propeller shaft market, by vehicle type, 2016-2019 ('000 Units)
Table 81Multi piece: Propeller shaft market, by vehicle type, 2016-2019 (USD Million)
Table 82Multi piece: Propeller shaft market, by vehicle type, 2020-2025 ('000 Units)
Table 83Multi piece: Propeller shaft market, by vehicle type, 2020-2025 (USD Million)
Table 84HCV: Multi piece propeller shaft market, by region 2016-2019 ('000 Units)
Table 85HCV: Multi piece propeller shaft market, by region 2016-2019 (USD Million)
Table 86HCV: Multi piece propeller shaft market, by region 2020-2025 ('000 Units)
Table 87HCV: Multi piece propeller shaft market, by region 2020-2025 (USD Million)
11PASSENGER CAR PROPELLER SHAFT MARKET, BY MATERIAL (Page No. - 107)
11.1Introduction
11.1.1Research methodology
11.1.2Assumptions/limitations
11.1.3Industry insights
Figure 31Passenger car propeller shaft market, by material, 2020-2025 (USD Million)
Table 88Passenger car propeller shaft market, by material, 2016-2019 ('000 Units)
Table 89Passenger car propeller shaft market, by material, 2016-2019 (USD Million)
Table 90Passenger car propeller shaft market, by material, 2020-2025 ('000 Units)
Table 91Passenger car propeller shaft market, by material, 2020-2025 (USD Million)
11.2Alloy
11.2.1Alloy propeller shaft to lead the global passenger car market
Table 92Alloy: Passenger car propeller shaft market, by region, 2016-2019 ('000 Units)
Table 93Alloy: Passenger car propeller shaft market, by region, 2016-2019 (USD Million)
Table 94Alloy: Passenger car propeller shaft market, by region, 2020-2025 ('000 Units)
Table 95Alloy: Passenger car propeller shaft market, by region, 2020-2025 (USD Million)
11.3Carbon Fiber
11.3.1Carbon fiber is anticipated to be the fastest growing market during the forecast period
Table 96Carbon fiber: Passenger car propeller shaft market, by region, 2016-2019 ('000 Units)
Table 97Carbon fiber: Passenger car carbon fiber propeller shaft market, by region, 2016-2019 (USD Million)
Table 98Carbon fiber: Passenger car propeller shaft market, by region, 2020-2025 ('000 Units)
Table 99Carbon fiber: Passenger car carbon fiber propeller shaft market, by region, 2020-2025 (USD Million)
12AUTOMOTIVE AXLE AND PROPELLER SHAFT MARKET, BY REGION (Page No. - 116)
12.1Introduction
12.1.1Research methodology
12.1.2Assumptions/limitations
12.1.3Industry insights
Figure 32Automotive axle & propeller shaft market, by region, 2020-2025 (USD Million)
Table 100Automotive axle and propeller shaft market, by region, 2016-2019 ('000 Units)
Table 101Automotive axle and propeller shaft market, by region, 2016-2019 (USD Million)
Table 102Automotive axle and propeller shaft market, by region, 2020-2025 ('000 Units)
Table 103Automotive axle and propeller shaft market, by region, 2020-2025 (USD Million)
12.2Asia Oceania
Figure 33Asia Oceania: Automotive axle & propeller shaft market snapshot
Table 104Asia Oceania: Automotive axle and propeller market, by country, 2016-2019 ('000 Units)
Table 105Asia Oceania: Automotive axle and propeller market, by country, 2016-2019 (USD Million)
Table 106Asia Oceania: Automotive axle and propeller market, by country, 2020-2025 ('000 Units)
Table 107Asia Oceania: Automotive axle and propeller market, by country, 2020-2025 (USD Million)
12.2.1China
12.2.1.1China is estimated to be the largest market in Asia Oceania
Table 108China: Automotive axle and propeller market, by product type, 2016-2019 ('000 Units)
Table 109China: Automotive axle and propeller market, by product type, 2016-2019 (USD Million)
Table 110China: Automotive axle and propeller market, by product type, 2020-2025 ('000 Units)
Table 111China: Automotive axle and propeller market, by product type, 2020-2025 (USD Million)
12.2.2Japan
12.2.2.1Japan is the second biggest market in Asia
Table 112Japan: Automotive axle and propeller market, by product type, 2016-2019 ('000 Units)
Table 113Japan: Automotive axle and propeller market, by product type, 2016-2019 (USD Million)
Table 114Japan: Automotive axle and propeller market, by product type, 2020-2025 ('000 Units)
Table 115Japan: Automotive axle and propeller market, by product type, 2020-2025 (USD Million)
12.2.3South Korea
12.2.3.1South Korea is estimated to be third fastest growing market in Asia Oceania by value
Table 116South Korea: Automotive axle and propeller market, by product type, 2016-2019 ('000 Units)
Table 117South Korea: Automotive axle and propeller market, by product type, 2016-2019 (USD Million)
Table 118South Korea: Automotive axle and propeller market, by product type, 2020-2025 ('000 Units)
Table 119South Korea: Automotive axle and propeller market, by product type, 2020-2025 (USD Million)
12.2.4India
12.2.4.1India is anticipated to be the fastest growing market in Asia Oceania during the forecast period by production
Table 120India: Automotive axle and propeller market, by product type, 2016-2019 ('000 Units)
Table 121India: Automotive axle and propeller market, by product type, 2016-2019 (USD Million)
Table 122India: Automotive axle and propeller market, by product type, 2020-2025 ('000 Units)
Table 123India: Automotive axle and propeller market, by product type, 2020-2025 (USD Million)
12.2.5Rest of Asia Oceania
12.2.5.1Axle is estimated to be the largest market in Rest of Asia Oceania
Table 124Rest of Asia Oceania: Automotive axle and propeller market, by product type, 2016-2019 ('000 Units)
Table 125Rest of Asia Oceania: Automotive axle and propeller market, by product type, 2016-2019 (USD Million)
Table 126Rest of Asia Oceania: Automotive axle and propeller market, by product type, 2020-2025 ('000 Units)
Table 127Rest of Asia Oceania: Automotive axle and propeller market, by product type, 2020-2025 (USD Million)
12.3Europe
Table 128Europe: Automotive axle and propeller shaft market, by country, 2016-2019 ('000 Units)
Table 129Europe: Automotive axle and propeller shaft market, by country, 2016-2019 (USD Million)
Table 130Europe: Automotive axle and propeller shaft market, by country, 2020-2025 ('000 Units)
Table 131Europe: Automotive axle and propeller shaft market, by country, 2020-2025 (USD Million)
12.3.1Germany
12.3.1.1Germany is estimated to be the largest market in Europe by value and volume
Table 132Germany: Automotive axle and propeller shaft market, by product type, 2016-2019 ('000 Units)
Table 133Germany: Automotive axle and propeller shaft market, by product type, 2016-2019 (USD Million)
Table 134Germany: Automotive axle and propeller shaft market, by product type, 2020-2025 ('000 Units)
Table 135Germany: Automotive axle and propeller shaft market, by product type, 2020-2025 (USD Million)
12.3.2France
12.3.2.1France is estimated to be the second fastest growing market by value
Table 136France: Automotive axle and propeller shaft market, by product type, 2016-2019 ('000 Units)
Table 137France: Automotive axle and propeller shaft market, by product Type, 2016-2019 (USD Million)
Table 138France: Automotive axle and propeller shaft market, by product type, 2020-2025 ('000 Units)
Table 139France: Automotive axle and propeller shaft market, by product type, 2020-2025 (USD Million)
12.3.3UK
12.3.3.1Axle is estimated to be the largest market, by product type in UK
Table 140UK: Automotive axle and propeller shaft market, by product type, 2016-2019 ('000 Units)
Table 141UK: Automotive axle and propeller shaft market, by product type, 2016-2019 (USD Million)
Table 142UK: Automotive axle and propeller shaft market, by product type, 2020-2025 ('000 Units)
Table 143UK: Automotive axle and propeller shaft market, by product type, 2020-2025 (USD Million)
12.3.4Rest of Europe
12.3.4.1Rest of Europe is the largest market for Axle & Propeller shaft
Table 144Rest of Europe: Automotive axle and propeller shaft market, by product type, 2016-2019 ('000 Units)
Table 145Rest of Europe: Automotive axle and propeller shaft market, by product type, 2016-2019 (USD Million)
Table 146Rest of Europe: Automotive axle and propeller shaft market, by product type, 2020-2025 ('000 Units)
Table 147Rest of Europe: Automotive axle and propeller shaft market, by product type, 2020-2025 (USD Million)
12.4north america
Figure 34North America: Automotive axle & propeller shaft market snapshot
Table 148North America: Automotive axle and propeller shaft market, by country, 2016-2019 ('000 Units)
Table 149North America: Automotive axle and propeller shaft market, by country, 2016-2019 (USD Million)
Table 150North America: Automotive axle and propeller shaft market, by country, 2020-2025 ('000 Units)
Table 151North America: Automotive axle and propeller shaft market, by country, 2020-2025 (USD Million)
12.4.1US
12.4.1.1US is estimated to be the largest market for North America
Table 152US: Automotive axle and propeller shaft market, by product type, 2016-2019 ('000 Units)
Table 153US: Automotive axle and propeller market, by product type, 2016-2019 (USD Million)
Table 154US: Automotive axle and propeller shaft market, by product type, 2020-2025 ('000 Units)
Table 155US: Automotive axle and propeller market, by product type, 2020-2025 (USD Million)
12.4.2Canada
12.4.2.1Axle is estimated to be the largest market for Canada in 2020
Table 156Canada: Automotive axle and propeller market, by product type, 2016-2019 ('000 Units)
Table 157Canada: Automotive axle and propeller market, by product type, 2016-2019 (USD Million)
Table 158Canada: Automotive axle and propeller market, by product type, 2020-2025 ('000 Units)
Table 159Canada: Automotive axle and propeller market, by product type, 2020-2025 (USD Million)
12.4.3Mexico
12.4.3.1Mexico is anticipated to be the fastest growing market in North America
Table 160Mexico: Automotive axle and propeller market, by product type, 2016-2019 ('000 Units)
Table 161Mexico: Automotive axle and propeller market, by product type, 2016-2019 (USD Million)
Table 162Mexico: Automotive axle and propeller market, by product type, 2020-2025 ('000 Units)
Table 163Mexico: Automotive axle and propeller market, by product type, 2020-2025 (USD Million)
12.5Rest of the World
Table 164RoW: Automotive axle and propeller shaft market, by country, 2016-2019 ('000 Units)
Table 165RoW: Automotive axle and propeller shaft market, by country, 2016-2019 (USD Million)
Table 166RoW: Automotive axle and propeller shaft market, by country, 2020-2025 ('000 Units)
Table 167RoW: Automotive axle and propeller shaft market, by country, 2020-2025 (USD Million)
12.5.1South Africa
12.5.1.1Axle is estimated to be the largest market for South Africa
Table 168South Africa: Automotive axle and propeller market, by product type, 2016-2019 ('000 Units)
Table 169South Africa: Automotive axle and propeller market, by product type, 2016-2019 (USD Million)
Table 170South Africa: Automotive axle and propeller market, by product type, 2020-2025 ('000 Units)
Table 171South Africa: Automotive axle and propeller market, by product type, 2020-2025 (USD Million)
12.5.2Brazil
12.5.2.1Brazil is anticipated to be the largest as well as fastest growing market in RoW
Table 172Brazil: Automotive axle and propeller market, by product type, 2016-2019 ('000 Units)
Table 173Brazil: Automotive axle and propeller market, by product type, 2016-2019 (USD Million)
Table 174Brazil: Automotive axle and propeller market, by product type, 2020-2025 ('000 Units)
Table 175Brazil: Automotive axle and propeller market, by product type, 2020-2025 (USD Million)
12.5.3Rest of RoW
12.5.3.1Axle is estimated to be the largest Rest of RoW market in 2020
Table 176Rest of RoW: Automotive axle and propeller market, by product type, 2016-2019 ('000 Units)
Table 177Rest of RoW: Automotive axle and propeller market, by product type, 2016-2019 (USD Million)
Table 178Rest of RoW: Automotive axle and propeller market, by product type, 2020-2025 ('000 Units)
Table 179Rest of RoW: Automotive axle and propeller market, by product type, 2020-2025 (USD Million)
13ADJACENT MARKETS (Page No. - 151)
13.1Adjacent & Related Markets
13.1.1Introduction
Table 180Adjacent markets of automotive axle and propeller shaft markets
13.2Limitations
13.3Automotive Axle and Propeller Shaft Ecosystem & Interconnected Markets
Figure 35Automotive axle and propeller shaft ecosystem & interconnected markets
13.4Automotive Differential Market
13.4.1Market definition
13.4.2Market overview
Figure 36Automotive differential market, by region 2018 vs. 2021 (Million USD)
13.4.3Automotive Differential Market, by region
Table 181Automotive differential market, by region, 2016-2025 ('000 Units)
Table 182Automotive differential market, by region, 2016-2025 (USD Million)
13.5Automotive Suspension Market
13.5.1Market Definition
13.5.2Market Overview
Figure 37Automotive suspension market, by region, 2017 vs 2025 (USD Million)
13.5.3Automotive suspension market
Table 183Global automotive suspension market, by region, 2015-2025 (Million Units)
Table 184Global automotive suspension market, by region, 2015-2025 (USD Million)
13.6Torque Vectoring Market
13.6.1Market definition
13.6.2Market overview
13.6.3Torque vectoring market
Figure 38Global torque vectoring market, by region, 2018 VS. 2025 (USD MIllion)
Table 185Torque vectoring market for automotive, by region, 2017-2025 ('000 Units)
Table 186Torque vectoring market for automotive, by region, 2017-2025 (USD Million)
14COMPETITIVE LANDSCAPE (Page No. - 159)
14.1Market Evaluation Framework
Figure 39Market evaluation framework
14.2Overview
14.3Market Ranking Analysis
Figure 40Automotive axle and propeller shaft market: 2019
14.4Market Evaluation Framework: Revenue Analysis of Top Five Players
Figure 41Top five players dominated the automotive axle and propeller shaft market during the last three years
Figure 42Key developments by leading players in the automotive axle and propeller shaft market, 2015-2020
14.5Competitive Scenario
14.5.1New product developments
Table 187New product developments, 2017-2020
14.5.2Expansions
Table 188Expansions, 2015-2019
14.5.3Partnerships/supply contracts/ collaborations/ agreements
Table 189Partnerships/supply contracts/collaborations/joint ventures, 2018-2019
14.5.4Acquisitions/joint ventures
Table 190Acquisitions/joint ventures, 2017-2019
14.6Competitive Leadership Mapping
14.6.1Stars
14.6.2Emerging Leaders
14.6.3Pervasive
14.6.4Emerging companies
Figure 43Automotive axle and propeller shaft market: Competitive leadership mapping, 2019
14.7Strength of Product Portfolio: Axle and Propeller Shaft Market
Figure 44Product portfolio analysis of top players in the axle and propeller shaft market
14.8Business Strategy Excellence: Axle and Propeller Shaft Market
Figure 45Business strategy excellence of top players in the axle and propeller shaft Market
15COMPANY PROFILES (Page No. - 174)
(Business overview, Products offered, Recent developments, SWOT analysis, Right to win, MNM view)*
15.1ZF FRIEDRICHSHAFEN AG
Figure 46ZF FRIEDRICHSHAFEN AG: Company snapshot
Figure 47ZF FRIEDRICHSHAFEN AG: SWOT analysis-
15.2GKN AUTOMOTIVE
Figure 48GKN AUTOMOTIVE: Company snapshot
Figure 49GKN AUTOMOTIVE: SWOT analysis
15.3DANA INCORPORATED
Figure 50DANA INCORPORATED: Company snapshot
Figure 51DANA INCORPORATED: SWOT analysis
15.4AMERICAN AXLE & MANUFACTURING, INC.
Figure 52AMERICAN AXLE & MANUFACTURING INC.: Company snapshot
Figure 53AMERICAN AXLE & MANUFACTURING, INC.: SWOT analysis
15.5MERITOR, INC.
Figure 54MERITOR INC.: Company snapshot
Figure 55MERITOR, INC.: SWOT analysis
15.6SHOWA CORPORATION
Figure 56SHOWA CORPORATION: Company snapshot
Figure 57SHOWA CORPORATION: SWOT analysis
15.7HYUNDAI WIA CORPORATION
Figure 58HYUNDAI WIA CORPORATION: Company snapshot
Figure 59HYUNDAI WIA CORPORATION: SWOT analysis
15.8GESTAMP AUTOMOCION
Figure 60GESTAMP AUTOMOCION: Company snapshot
15.9JTEKT CORPORATION
Figure 61JTEKT: Company snapshot
15.10IFA ROTORION HOLDING GMBH
*Business overview, Products offered, Recent developments, SWOT analysis, Right to win, MNM view might not be captured in case of unlisted companies.
15.11Other Key Players
15.11.1Asia Pacific
15.11.1.1NINGBO JINGDA HARDWARE MANUFACTURE CO., LTD
15.11.1.2TFO CORPORATION
15.11.1.3HITACHI AUTOMOTIVE SYSTEMS AMERICA
15.11.1.4RSB GLOBAL
15.11.1.5UNIVANCE CORPORATION
15.11.2Europe
15.11.2.1WILSON DRIVE SHAFT
15.11.2.2D&F PROPSHAFTS
15.11.2.3BAILEY MORRIS LIMITED
15.11.3North America
15.11.3.1NEAPCO INC.
15.11.3.2NEXTEER AUTOMOTIVE
15.11.3.3BORGWARNER
16APPENDIX (Page No. - 211)
16.1Insights of Industry Experts
16.2Discussion Guide
16.3Knowledge Store: MarketsandMarkets' Subscription Portal
16.4Available Customizations
16.4.1Automotive axle market, by vehicle type
16.4.1.1Passenger Car
16.4.1.2Light commercial vehicle
16.4.1.3Heavy commercial vehicle
16.4.2Additional company information
16.4.2.1CONTINENTAL AG
16.4.2.2ROC SPICER LTD
16.4.2.3AUTOMOTIVE AXLE LIMITED
16.4.2.4SONA GROUP
16.4.2.5NTN CORPORATION
16.4.2.6TAILBROS ENGINEERING
16.4.2.7DAIMLER AG
16.4.2.8AOI MACHINERY INDUSTRY
16.4.2.9HAMANA PARTS INDUSTRY
16.4.2.10HITACHI AUTOMOTIVE SYSTEMS
16.4.2.11VOLVO
16.4.2.12GNA ENTERPRISE
16.5Related Reports
16.6Author Details

The study involves key activities to estimate the current size for the automotive axle and propeller shaft market. The first step defines the scope of the research study, which includes axle types, propeller shaft types, axle positions, materials, and regions to be considered in the study along with the assumptions and limitations to derive the market numbers. The next step was to validate these findings, assumptions, and market analysis with industry experts across value chains through primary research. The bottom-up approach has been used for market estimation and calculating the size of the automotive axle and propeller shaft.

Secondary Research

The secondary sources referred for this research study include company annual reports/presentations, press releases, industry association publications such as International Organization of Motor Vehicle Manufacturers (OICA), Canada Automobile Association (CAA), Europe Automobile Manufacturers Association (EAMA), investor presentations, and annual reports of key market players. Secondary data has been collected and analyzed to arrive at the overall market size, which is further validated by primary research.

Primary Research

Extensive primary research was conducted after acquiring an understanding of the automotive axle and propeller shaft market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand (OEM) and supply-side (automotive axle and propeller shaft manufacturers and distributors) players across four major regions, namely, North America, Europe, Asia Oceania, and Rest of the World (South Africa and Brazil). Approximately 15% and 85% of primary interviews were conducted from both the demand and supply side, respectively. Primary data was collected through questionnaires, emails, and telephonic interviews. In our canvassing of primaries, we have strived to cover various departments within organizations, such as sales, operations, administration, etc. to provide a holistic viewpoint in our reports.

After interactions with industry participants, we have also conducted brief sessions with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report.

The below figure shows the break-up of the profile of industry experts who participated in primary discussions.

Automotive Axle & Propeller Shaft Market Size, and Share

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

Market Size Estimation

The bottom-up approach has been used to estimate and validate the size of the automotive axle and propeller shaft market.

  • In this approach, the vehicle production statistics for each vehicle type have been considered at a country and regional level.
  • Market analysis based on industry experts and OEMs has been considered to understand overall automotive vehicle production forecasts on the post-COVID scenario.
  • Extensive secondary and primary research has been carried out to understand the global market scenario for various segments used in the automotive industry.
  • Several primary interviews have been conducted with key opinion leaders related to the automotive axle and propeller shaft market development, including key OEMs and Tier I suppliers.
  • Qualitative aspects such as market drivers, restraints, opportunities, and challenges have been taken into consideration while calculating and forecasting the market size.

Automotive Axle & Propeller Shaft Market Bottom-Up Approach

To know about the assumptions considered for the study, Request for Free Sample Report

Data Triangulation

All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. All parameters that are said to affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data has been consolidated, enhanced with detailed inputs and analysis from MarketsandMarkets, and presented in the report. The following figure is an illustrative representation of the overall market size estimation process employed for this study.

Report Objectives

  • To define, describe, and forecast (2020 to 2025) the automotive axle and propeller shaft market, in terms of volume (thousand units), and value (USD million) at country, and regional level
  • To define, describe, and forecast the automotive axle market, by volume and value, based on the type (dead, live, and tandem) at the regional level
  • To analyze and forecast the automotive axle market, in terms of volume and value based on the axle position (front and rear) at the regional level
  • To analyze and forecast the market for automotive propeller shaft market, by volume, and value, based on the type (single piece and multi-piece) at the regional level
  • To analyze and forecast the market for automotive propeller shaft market, by volume, and value, based on the position (Front and Rear axle) at the regional level
  • To forecast the passenger car propeller shaft market, by volume and value, based on the material (alloy and carbon fiber) at the regional level
  • To forecast the volume and value of the market segments with respect to four regions namely – North America, Europe, Asia Oceania, and RoW
  • To understand the market dynamics (drivers, restraints, opportunities, and challenges) of the automotive axle and propeller shaft market
  • To analyze the market share of the key players operating in the automotive axle and propeller shaft market
  • To analyze the competitive landscape and competitive leadership mapping for the global players operating in the automotive axle and propeller shaft market
  • To track and analyze competitive developments such as joint ventures, mergers & acquisitions, new product developments, and expansions in the automotive axle and propeller shaft market

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs.

The following customization options are available for the report:

Automotive Axle Market, By Vehicle Type

  • Passenger Car
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

Note: Axle types include dead, live, and tandem

Detailed analysis and profiling of additional market players (Up To three)

COVID-19

Get in-depth analysis of the COVID-19 impact on the Automotive Axle & Propeller Shaft Market

Benchmarking the rapid strategy shifts of the Top 100 companies in the Automotive Axle & Propeller Shaft Market

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AT 3160
Published ON
Jul, 2020
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