Automotive Axle And Propeller Shaft Market 2023 | Market Size, Share Analysis, Demand And Forecast To 2032 | Dana Corporation, American Axle and Manufacturing Inc., Gelenkwellen-Service GmbH, GKN-Walterscheid GmbH, Hyundai Wia Corporation

The Automotive Axle And Propeller Shaft Global Market Report 2023 by The Business Research Company, provides automotive axle and propeller shaft market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Automotive Axle And Propeller Shaft Global Market Report 2023, the market size is expected to grow from$28.96 billion in 2022 to $30.95 billion in 2023 at a compound annual growth rate (CAGR) of 6.9% . The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of the automotive axle and propeller shaft is expected to grow to $39.72 billion in 2027 at a CAGR of 6.4% .

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.

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The automotive axle and propeller shaft market is segmented:

1) Automotive Axle And Propeller Shaft Market By Type: Single Piece, Multi Piece

2) Automotive Axle And Propeller Shaft Market By Propeller Shaft Type: Front Propeller, Inter-Axle, Rear Propeller

3) Automotive Axle And Propeller Shaft Market By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles

4) Automotive Axle And Propeller Shaft Market By Material: Alloy, Carbon Fiber

5) By Sales Channel: Original Equipment Manufacturer, Aftermarket

Technological advancements are the key trend gaining popularity in the automotive axle and propeller shaft market. Major companies operating in the market are introducing new technologies such as driveline systems technology that uses an integrated oil pan (IOP) front axle assembly with an electronic disconnect that transmits torque from the front axle to the front axle half shafts, reducing friction. For instance, in January 2020, Xtrac Limited, a UK-based designer and manufacturer of transmission systems operating in the automotive axle and propeller shaft market, launched an advanced e-axle system for electric-powered Rallycross cars that is highly efficient and lightweight and is suitable for use with motors with a power rating of 250kW. This e-axle technology delivers lubrication by an internal eccentric rotor pump with pressure input to all crucial locations to reduce churning losses and increase overall gearbox efficiency. There is also an option to add an externally mounted oil cooler.

The automotive axle and propeller shaft market report table of contents includes:

1. Executive Summary

2. Automotive Axle And Propeller Shaft Market Characteristics

3. Automotive Axle And Propeller Shaft Market Trends And Strategies

4. Automotive Axle And Propeller Shaft Market – Macro Economic Scenario

5. Automotive Axle And Propeller Shaft Market Size And Growth

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26. Africa Automotive Axle And Propeller Shaft Market

27. Automotive Axle And Propeller Shaft Market Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions In The Automotive Axle And Propeller Shaft Market

29. Automotive Axle And Propeller Shaft Market Future Outlook and Potential Analysis

30. Appendix