The automotive axle and propeller shaft global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Automotive Axle and Propeller Shaft Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The automotive axle and propeller shaft market size has grown strongly in recent years. It will grow from $31.09 billion in 2023 to $32.94 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to government regulations, globalization, rise in disposable income, rise in demand for commercial vehicles.
The automotive axle and propeller shaft market size is expected to see strong growth in the next few years. It will grow to $41.41 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to electric vehicle (ev) adoption, rise in autonomous vehicles, emission regulations, trade agreements, global market growth. Major trends in the forecast period include customization and modularization, sustainability and green manufacturing, advanced manufacturing techniques, electric and hybrid vehicle integration, partnerships and collaborations.
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Scope Of Automotive Axle and Propeller Shaft Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Automotive Axle and Propeller Shaft Market Overview
Market Drivers –
The increase in demand for comfortable and fuel-efficient vehicles is expected to propel the growth of the automotive axle and propeller shaft market going forward. Fuel-efficient vehicles can be referred to as vehicles that have a fuel consumption of fewer than 6 litres per 100 km, which reduces global warming emissions and produces less pollution. Automotive axles and propeller shafts help fuel-efficient vehicles by reducing fuel expenses, carbon emissions, and dependence on foreign oil while also improving the use of sustainable energy. For instance, in November 2022, according to the European Automobile Manufacturers Association, a Belgium-based automobile industry group committee, 16.4 million cars were manufactured in China from January to September, an increase of 15.1% compared to the same period in 2021. Thus, the increase in demand for comfortable and fuel-efficient vehicles is driving the growth of the automotive axle and propeller shaft market.
The automotive axle and propeller shaft market covered in this report is segmented –
1) By Type: Single Piece, Multi Piece
2) By Propeller Shaft Type: Front Propeller, Inter-Axle, Rear Propeller
3) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
4) By Material: Alloy, Carbon Fiber
5) By Sales Channel: Original Equipment Manufacturer, Aftermarket
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Regional Insights –
Asia-Pacific was the largest region in the automotive axle and propeller shaft market in 2023. Latin America is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive axle and propeller shaft market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the automotive axle and propeller shaft market include Dana Holding Corporation, American Axle & Manufacturing Inc., Gelenkwellen-Service GmbH, GKN-Walterscheid GmbH, Hyundai Wia Corporation, IFA Rotorion, JTEKT Corporation, Meritor Inc., ZF Friedrichshafen AG, Korea Flange Co. Ltd., Wahan Engineering Corporation, Automotive Axles Limited, Bailey Morris Ltd., D And F Propshafts, Mark Williams Enterprises Inc., Wilson Drive Shafts, Hitachi Ltd., Wanxiang Qianchao Co. Ltd., Nexteer Automotive Group Ltd., Yamada Manufacturing Co. Ltd., Melrose Industries plc, Benteler Automotive Corporation, Magna International Inc., Talbros Engineering Limited, Bharat Gears Limited, Fairfield Atlas Ltd., AxleTech International SAS, Volvo Group, Tata Motors Limited, Ashok Leyland Limited, Mahindra & Mahindra Limited
Table of Contents
1. Executive Summary
2. Automotive Axle and Propeller Shaft Market Report Structure
3. Automotive Axle and Propeller Shaft Market Trends And Strategies
4. Automotive Axle and Propeller Shaft Market – Macro Economic Scenario
5. Global Automotive Axle and Propeller Shaft Market Size and Growth
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31. Global Automotive Axle and Propeller Shaft Market Competitive Benchmarking
32. Global Automotive Axle and Propeller Shaft Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Automotive Axle and Propeller Shaft Market
34. Automotive Axle and Propeller Shaft Market Future Outlook and Potential Analysis
35. Appendix
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