PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1535719
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1535719
Automotive Axle and Propeller Shaft Market Size - By Type, By Vehicle Type, By Material, By Sales Channel & Forecast, 2024 - 2032
Global Automotive Axle and Propeller Shaft Market is set to witness 4% CAGR from 2024 to 2032, driven by the booming automotive industry and increasing vehicle production. According to the European Automobile Manufacturers' Association (ACEA), global new car sales increased by nearly 10% following a stable year in 2022. In the EU, new car sales rose by approximately 14%, totaling 10.5 million units. Sales of new battery-electric cars surged by 37%, capturing a market share of 14.6%. Japanese and US car sales also recorded significant growth, rising by almost 16% and over 14%, respectively.
As global new car sales rise, including a notable increase in battery-electric vehicles, the demand for advanced axles and propeller shafts will surge. Innovations in automotive design and the expansion of vehicle fleets necessitate high-performance, durable components to support enhanced driving dynamics and efficiency. Consequently, this robust market growth in the automotive sector will fuel increased production and adoption of axles and propeller shafts.
The overall Automotive Axle and Propeller Shaft Industry is categorized based on type, vehicle type, material, sales channel, and region.
Propeller shafts will significantly contribute to market growth over 2024-2032. These components are critical for transmitting power from the engine to the wheels, ensuring smooth vehicle operation. Technological advancements in propeller shaft materials and designs enhance durability and performance, driving demand. As vehicle manufacturers focus on reducing weight and improving fuel efficiency, the adoption of advanced propeller shafts is expected to rise, supporting the overall market expansion.
The aftermarket segment will see substantial growth during 2024-2032. With an increasing number of vehicles on the road, the demand for replacement and upgraded automotive parts is rising. Consumers and service providers are increasingly opting for high-quality aftermarket axles and propeller shafts to maintain vehicle performance and longevity. The growth of the e-commerce sector also facilitates easier access to aftermarket products, further boosting this segment.
Europe Automotive Axle and Propeller Shaft Market will drive notable gains from 2024 to 2032, owing to its well-established automotive sector. The presence of leading automobile manufacturers, in line with strong investment in automotive technology and innovation, supports market growth. Additionally, stringent regulations on vehicle emissions and fuel efficiency are pushing manufacturers to adopt advanced axle and propeller shaft technologies, contributing to the region's market expansion.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
- 1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimates
- 1.3 Forecast model
- 1.4 Primary research & validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
- 1.5 Market definitions
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis, 2021 - 2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Supplier landscape
- 3.2.1 Raw material suppliers
- 3.2.2 Component suppliers
- 3.2.3 Manufacturers
- 3.2.4 Aftermarket suppliers
- 3.2.5 End users
- 3.3 Profit margin analysis
- 3.4 Technology & innovation landscape
- 3.5 Patent analysis
- 3.6 Key news & initiatives
- 3.7 Regulatory landscape
- 3.8 Impact forces
- 3.8.1 Growth drivers
- 3.8.1.1 Increasing global vehicle production and sales
- 3.8.1.2 Technological advancements in lightweight and high-strength materials
- 3.8.1.3 Stricter emission and fuel efficiency regulations
- 3.8.1.4 Rise in electric vehicle adoption
- 3.8.2 Industry pitfalls & challenges
- 3.8.2.1 Fluctuating price of raw material
- 3.8.2.2 High R&D and production costs
- 3.8.1 Growth drivers
- 3.9 Growth potential analysis
- 3.10 Porter's analysis
- 3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Type 2021 - 2032 (USD Billion, Units)
- 5.1 Key trends
- 5.2 Axle
- 5.2.1 Live axle
- 5.2.2 Dead axle
- 5.2.3 Tandem axle
- 5.3 Propeller shafts
- 5.3.1 Single piece propeller shaft
- 5.3.2 Multi piece propeller shaft
- 5.3.3 Slip in tube propeller shaft
Chapter 6 Market Estimates & Forecast, By Vehicle Type, 2021 - 2032 (USD Billion, Units)
- 6.1 Key trends
- 6.2 Passenger vehicles
- 6.3 Light commercial vehicles
- 6.4 Heavy commercial vehicles
Chapter 7 Market Estimates & Forecast, By Material, 2021 - 2032 (USD Billion, Units)
- 7.1 Key trends
- 7.2 Alloy
- 7.3 Carbon fiber
Chapter 8 Market Estimates & Forecast, By Sales Channel, 2021 - 2032 (USD Billion, Units)
- 8.1 Key trends
- 8.2 OEM
- 8.3 Aftermarket
Chapter 9 Market Estimates & Forecast, By Region, 2021 - 2032 (USD Billion, Units)
- 9.1 Key trends
- 9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
- 9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Spain
- 9.3.5 Italy
- 9.3.6 Russia
- 9.3.7 Nordics
- 9.3.8 Rest of Europe
- 9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 ANZ
- 9.4.6 Southeast Asia
- 9.4.7 Rest of Asia Pacific
- 9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Argentina
- 9.5.4 Rest of Latin America
- 9.6 MEA
- 9.6.1 UAE
- 9.6.2 South Africa
- 9.6.3 Saudi Arabia
- 9.6.4 Rest of MEA
Chapter 10 Company Profiles
- 10.1 American Axle & Manufacturing Holdings, Inc. (AAM)
- 10.2 Automotive Axles Limited
- 10.3 AxleTech International
- 10.4 Cummins Inc.
- 10.5 Dana Incorporated
- 10.6 GKN Automotive
- 10.7 Gudel Group AG
- 10.8 Hyundai WIA Corporation
- 10.9 IFA Rotorion Holding GmbH
- 10.10 JTEKT Corporation
- 10.11 Mark Williams Enterprises Inc.
- 10.12 Melrose Industries PLC
- 10.13 NTN Corporation
- 10.14 Schaeffler Group
- 10.15 Showa Corporation
- 10.16 Sona Comstar
- 10.17 ThyssenKrupp AG
- 10.18 ZF Friedrichshafen AG
