Automotive Axle & Propeller Shaft Market

Market Leader - Automotive Axle & Propeller Shaft Market

The global automotive axle and propeller shaft market is estimated to be USD 29.5 billion in 2019, which is projected to reach USD 35.0 billion by 2025, at a CAGR of 2.9%, driven mainly by the rising consumer demand for light, safe, and comfortable drive. Additionally, growing demand for fuel efficiency and increasing adoption of all-wheel drive (AWD) vehicles is likely to result in the growth of the axle and propeller shaft market.

The automotive axle and propeller shaft market is dominated by a few global players and comprises several regional players. Some of the key players in the automotive axle and propeller shaft market are ZF Friedrichshafen AG (Germany), American Axle & Manufacturing Holdings, Inc. (US), Dana Incorporated (US), GKN PLC (UK), Showa Corporation (Japan), JTEKT Corporation (Japan), Hyundai Wia Corporation (South Korea), IFA Rotorion - Holding GmbH (Germany), and Gestamp (Spain). The key strategy adopted by the leading players to gain traction in the market was new product innovation and development. For instance, in May 2019, Dana showcased its extensive portfolio of electrification systems and technologies at the CTI Symposium USA. Dana presented electric drive units, e-Axles, electric transmissions, and thermal management and sealing solutions.

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

Expansions were also adopted by axle and propeller market players to cater to the growing demand from customers. In April 2019, Dana started the production of Spicer AdvanTEK Ultra Axle System in China. This system was engineered for passenger cars and vans, crossovers, and SUVs. The Spicer AdvanTEK Ultra axle delivers best-in-class fuel efficiency across all torques, speeds, and temperatures without tradeoffs for durability or comfort. It leverages ultra-low viscosity lubricants while maintaining gear durability and life to achieve up to 45% reduction in energy loss compared with a typical axle.

ZF Friedrichshafen AG (Germany) adopted new product development and expansion as key strategies to retain its leading position in the axle and propeller shaft market. In February 2019, ZF’s AxTrax AVE electric portal axle was honored with 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 in all-electric not only by battery or overhead lines but also in hybrid or fuel cell configurations. Further, as a part of the expansion strategy, ZF expanded its engineering center in Shanghai, China. The Engineering Center focuses on driveline and chassis technologies for all applications, with e-mobility being the primary focus—an area of significant growth in China. The new facility will enable the company to develop advanced technologies for the Asian market quickly.

On the other hand, GKN (UK) adopted new product development and expansion strategies to sustain its market position. In February 2018, the company launched eAxle for Volvo’s range of T8 Twin Engine plug-in hybrids, GKN’s coaxial eAxle powered the rear wheels of the LEVC (London EV Company) electrified TX model. Further, in March 2017, GKN introduced new lightweight, high-speed prop shaft joint for Audi Q5. The new PVL joint features GKN’s Direct Torque Flow (DTF) interface technology, which replaces the conventional and time-consuming bolted joint assembly with a unique mating system, where the splined shaft from a third-party gearbox is inserted directly into the inner race of GKN’s joint. This reduces component complexity, improves the torque flow efficiency, and makes production line assembly faster for automakers. Alternatively, GKN introduced leading driveshaft technology for the Chinese market by launching its SX8 Constant Velocity Joint (CVJ) for many customers in the market. The countertrack™ SX8 sideshaft provides high efficiency, compact packaging and superior noise, vibration, and harshness (NVH) properties.

Related Reports:

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

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Report Code
AT 3160
RI Published ON
Choose License Type
Request Customization
Speak to Analyst
Speak to Analyst
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
  • What are the Known and Unknown Adjacencies Impacting the Automotive Axle & Propeller Shaft Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
© MarketsandMarkets Research Private Ltd. All rights reserved