A recent report published by Infinium Global Research on the automotive axle and propeller shaft market provides an in-depth analysis of segments and sub-segments in the global as well as regional automotive axle and propeller shaft market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional automotive axle and propeller shaft market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global automotive axle and propeller shaft market. According to the report, the global automotive axle and propeller shaft market are projected to grow at a CAGR of 3.74% over the forecast period of 2019-2025.
Automotive axle and propeller shaft are the major components of the vehicle for generating momentum by driving torque between wheels and engine respectively. Propeller shaft transmits power from gearbox to the rear axle. Normally the shaft has a tubular section and is made in one- or two-piece construction. Nowadays composite carbon fiber is used instead of existing metal propeller shaft that reduces magnetic, ELEF and noise signatures.
An increasing number of vehicle production and demand for the luxury vehicle are driving the factor for the growth of the global automotive axle and propeller shaft market. Growing demand for the electric and hybrid vehicle along with enhancement in the connected technologies boost the growth of the global automotive axle and propeller shaft market. On the other hand, the fluctuating cost for the raw material may hamper the growth of the automobile axle and propeller shaft market. Furthermore, rising demand for efficient and advanced material in the axle and shaft and demand for the lightweight and fuel-efficient vehicles may create an opportunity for the growth of the global automotive axle and propeller shaft market.
Geographically, Asia Pacific region dominates by the largest market share in the automotive axle and propeller shaft market due to the adoption of advanced technologies by the manufacturer and an increasing number of fleet production. In Asia-Pacific, China holds the highest share followed by Japan and India. China is the major country for the production of electric vehicle that boosts the growth of the market. Asia Pacific region expected to boost the growth of the automotive axle and propeller shaft market due to the presence of major manufacturers such as HYUNDAI WIA CORP, SHOWA Corporation, and other manufacturers. Europe holds the second position in the global automotive axle and propeller shaft market. In Europe, Germany is the leading country for the production of vehicles.
The report on global automotive axle and propeller shaft market covers segments such as axle type, propeller shaft type, and vehicle type. On the basis of axle type, the sub-markets include dead axle, live axle, and tandem axle. On the basis of propeller shaft type, the sub-markets include single piece propeller shaft, and multi piece propeller shaft. On the basis of vehicle type, the sub-markets include passenger cars, and commercial vehicles.
The report provides profiles of the companies in the market such as GKN PLC, SHOWA Corporation, Dana Incorporated, ZF Friedrichshafen AG, HYUNDAI WIA CORP., American Axle & Manufacturing, Inc., Meritor, Inc., IFA Holding GmbH, JTEKT Corporation, RSB Group, and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of automotive axle and propeller shaft market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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