Axle and Propeller Shaft Market, By Axle Position (Front and Rear), By Axle Type (Live, Dead, and Ta

Published Date: | Report Code : AT1942568

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The Axle and Propeller Shaft Market growth is expected to gain high momentum during the forecast period due to the increasing adoption of electric vehicles.

Automotive axle and propeller shafts are the main components that produce the momentum of a vehicle. The axle withstands the weight of the vehicle and helps in steering and transmission of the vehicle. The propeller is used to transmit the torque, rotation, and other functions of a drive train.

Segment Analysis:

The axle and propeller shaft market has been segmented on the basis of axle position, axle type, propeller shaft position, propeller shaft type, and vehicle type. Based on axle position, the market has been segmented into front and rear. Based on the axle type, the market has been divided into live, dead, and tandem. The live axle type segment is expected to grow more due to the increasing consumer preference towards SUVs and constant growth of the automobile industry.

On the basis of the propeller shaft position, the market has been segmented into front, rear, and inter-axle.

Based on the propeller shaft type, the market has been divided into single and multi-piece. The single propeller shaft type is used more commonly than the multi-piece propeller shaft type, as the former is lightweight, durable, cost-effective, and fuel-efficient.

Based on vehicle type, the market has been divided into passenger, light commercial, and heavy commercial. As there is an increase in the number of passenger cars, the passenger segment is leading in the market.

Key Factors Impacting Market Growth:

  • Increasing adoption of electric vehicles
  • Developing the market for All Wheel Drive (AWD) vehicles
  • Reducing weight and cost is the challenge for market players

Regional Analysis:

By region, North America, Western Europe, and Asia Pacific are estimated to dominate the axle and propeller shaft market in terms of market demand. North America and Western Europe have been traditional markets for the automotive sector with a number of global manufacturers headquartered in this region. The automotive sector in these regions has been dynamic in terms of technological developments and product modifications. The demand for lightweight materials, cleaner emissions, and green fuels have been some of the key influencing factors in this region. Also, the market has witnessed steady recovery from recent slowdowns in the past decades. Some of these factors are expected to impact the dynamics of the axle and propeller shaft market in North America and Western Europe during the forecast period. The US, Germany, France, Italy, UK, and Spain have been some of the major economies for the axle and propeller shaft market in the region.

The Asia Pacific is estimated to be the fastest-growing region for the axle and propeller shaft market during the forecast period. This region has been one of the lucrative markets for the automotive sector in the past few decades with strategic investments by global companies in the region. China, Japan, India, and South Korea have been some of the major countries for the axle and propeller shaft market in the Asia Pacific region. The Middle East promises a strong market potential with the growth of the automotive sector in the region. Countries including UAE, Saudi Arabia, Qatar, and Iran have been diversifying the industrial sector to boost the economy in the past few decades. Other regions including Eastern Europe, South America, and Africa are estimated to emerging markets with growing demand during the forecast period.

Companies Covered: Hyundai Wia Corporation, Meritor, Inc., ZF Friedrichshafen AG, IFA Rotorion – Holding GmbH, American Axle & Manufacturing Holdings, Inc., Gestamp, Dana Incorporated, GKN PLC, Jtekt Corporation, RSB Group, and Showa Corporation

Market Segmentation:

By Axle Position:

  • Front
  • Rear

By Axle Type:

  • Live
  • Dead
  • Tandem

By Propeller Shaft Position:

  • Front
  • Rear
  • Inter-Axle

By Propeller Shaft Type:

  • Single
  • Multi-piece

By Vehicle Type:

  • Passenger
  • Light Commercial
  • Heavy Commercial

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Axle Position
    • By Axle Type
    • By Propeller Shaft Position
    • By Propeller Shaft Type
  • Western Europe
    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
    • By Axle Position
    • By Axle Type
    • By Propeller Shaft Position
    • By Propeller Shaft Type
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Axle Position
    • By Axle Type
    • By Propeller Shaft Position
    • By Propeller Shaft Type
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Axle Position
    • By Axle Type
    • By Propeller Shaft Position
    • By Propeller Shaft Type
  • Middle East
    • By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
    • By Axle Position
    • By Axle Type
    • By Propeller Shaft Position
    • By Propeller Shaft Type
  • Rest of the World
    • By Region (South America, Africa)
    • By Axle Position
    • By Axle Type
    • By Propeller Shaft Position
    • By Propeller Shaft Type

Reasons to Buy This Report:

  • Market size estimation of the global axle and propeller shaft market on a regional and global basis
  • The unique research design for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

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