Automotive Axle & Propeller Shaft Market Report, 2019-2025: Opportunities in Growing Market for AWD Vehicles, Growing Demand for Aluminum Propeller Shaft, Ongoing Trend for E-Mobility
However, fluctuating raw material prices, as well as pricing pressure from automotive OEM's, are expected to be major challenges for axle and propeller shaft manufacturers.
DUBLIN, June 28, 2019 /PRNewswire/ -- The "Automotive Axle & Propeller Shaft Market by Axle Type (Live, Dead & Tandem), Axle Position (Front & Rear), Propeller Shaft Type (Single & Multi Piece), Passenger Car Propeller Shaft Material (Alloy & Carbon Fiber) & Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global automotive axle and propeller market size in terms of value is estimated to be USD 29.5 billion in 2019, which is projected to grow to USD 35.0 billion, by 2025.
Growing adoption of AWD vehicles as well as advancement in engineering to enhance vehicle performance to drive the demand for axle and propeller shaft
Increasing adoption of AWD vehicles, coupled with growth in global vehicle production as well as advancement in engineering to enhance vehicle performance and fuel efficiency is estimated to drive the market growth. However, fluctuating raw material prices, as well as pricing pressure from automotive OEM's, are expected to be major challenges for axle and propeller shaft manufacturers.
Carbon fiber propeller shaft is the fastest growing segment
Carbon fiber composites are being used in automotive components owing to their structural advantages over their metallic counterparts. These include lower weight and higher strength, which are of vital importance to the OEMs. The carbon-fiber propeller shaft is fitted mostly in the SUVs provided premium vehicle manufacturers. Mercedes-Benz, BMW, and Audi are prominent car manufacturers in the premium segment and have registered significant growth in recent years in their vehicle sales.
According to a Mercedes-Benz publication, the company sold nearly 2.3 million cars globally in 2017 with sales growing by 9.9% year-on-year basis. Further, as per the BMW press release, the company's sales grew by 4.2% between 2016 and 2017. Thus, the growth in premium vehicle sales is becoming an essential factor that will drive the carbon fiber propeller shaft market.
Live Axle is projected to lead the automotive axle market, by type, during the forecast period
The live axle is estimated to hold the largest share of the market during the forecast period between 2019 and 2025. The live axle drives the wheel connected to it along with supporting the weight of the car. Increasing consumer preference towards SUVs and RWD passenger cars as well as consistent growth in overall vehicle production have triggered the growth of the live axles' market.
The demand for RWD/AWD in the US, China, Japan, and European countries have shown significant growth in recent years, and the trend is expected to continue over the forecast period, thus, ultimately boosting the live axle demand for light-duty vehicles. Additionally, the growth in the heavy vehicles, mainly in North America and Europe will propel the live axle demand in the future.
Asia Oceania: The largest and second-fastest growing automotive axle & propeller shaft market
Asia Oceania is anticipated to be the fastest growing market for automotive axle & propeller shaft during the forecast period. The market growth can be attributed to the significant increase in the production of passenger cars and commercial vehicles in the region. Further, with an increase in per capita income, China, Japan, and South Korea have witnessed a significant rise in premium vehicle sales and have emerged as lucrative markets for premium automotive OEMs.
As Asia Oceania contributes to a considerable share of the global bus and truck production, trucks and buses hold the maximum percentage of automotive axle & propeller shaft market in 2018. According to OICA statistics, the share of heavy trucks and buses in Asia Oceania was estimated to be 75% and 76%, respectively in 2018.
Increasing infrastructure spending, rising import-export trade, and growth of e-commerce have driven the growth of the Asia Oceania market. With rising heavy vehicle production, the demand for axle and propeller shaft is expected to grow significantly, which in turn would push foreign suppliers to extend their presence in this region. These factors together are expected to drive the automotive axle & propeller shaft in the region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Automotive Axle and Propeller Shaft Market
4.2 Automotive Axle and Propeller Shaft Market in Asia Oceania, By Product Type and Country
4.3 Automotive Axle and Propeller Shaft Market, By Country
4.4 Automotive Axle and Propeller Shaft Market, By Product Type
4.5 Automotive Axle Market, By Type
4.6 Automotive Axle Market, By Position
4.7 Automotive Propeller Shaft Market, By Type
4.8 Passenger Car Propeller Shaft Market, By Material
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growth in Vehicle Production
5.2.1.2 Technological Advancements
5.2.1.3 Changing End User Preference
5.2.2 Restraints
5.2.2.1 Pricing Pressure and Fluctuating Prices of Raw Materials
5.2.2.2 Vehicle Recall and Regulatory Concerns
5.2.3 Opportunities
5.2.3.1 Growing Market for Awd Vehicles
5.2.3.2 Growing Demand for Aluminum Propeller Shaft
5.2.3.3 Ongoing Trend for E-Mobility
5.2.4 Challenges
5.2.4.1 Weight and Cost Reduction
5.3 Porter's Five Force Analysis
6 Ongoing Innovations in Automotive Axle and Propeller Shaft Market
6.1 Introduction
6.2 Dead
6.2.1 Asia Oceania Holds the Largest Share for Dead Axle Market
6.3 Live
6.3.1 Live Axle Leads the Market, By Position
6.4 Tandem
6.4.1 Asia Oceania Holds the Maximum Share for Tandem Axle
7 Automotive Axle Market, By Position
7.1 Introduction
7.2 Front
7.2.1 Passenger Car Dominate the Automotive Front Axle Market
7.3 Rear
7.3.1 Heavy Commercial Vehicle Leads the Automotive Rear Axle Market in 2019
8 Automotive Propeller Shaft Market, By Type
8.1 Introduction
8.2 Single Piece
8.2.1 Single Piece Dominate the Automotive Propeller Shaft Market
8.3 Multi Piece
8.3.1 Trucks Held the Maximum Share in 2019 for Multi-Piece Propeller Shaft
9 Passenger Car Propeller Shaft Market, By Material
9.1 Introduction
9.2 Alloy
9.2.1 Propeller Shaft Made Up of Alloy Lead the Global Passenger Car Market
9.3 Carbon Fiber
9.3.1 Carbon Fiber is Anticipated to Be the Fastest Growing Market During the Forecast Period
10 Automotive Axle and Propeller Shaft Market, By Region
10.1 Introduction
10.2 Asia Oceania
10.2.1 China
10.2.1.1 China is Estimated to Be the Largest Market in 2019
10.2.2 Japan
10.2.2.1 Propeller Shaft is Forecasted to Grow at A Highest CAGR During the Period of 2019-2025
10.2.3 South Korea
10.2.3.1 Axle is Estimated to Be Largest in South Korean Market, By Product Type
10.2.4 India
10.2.4.1 India is Anticipated to Be the Fastest Growing Market in Asia Oceania During the Forecast Period
10.2.5 Rest of Asia Oceania
10.2.5.1 Axle is Estimated to Be the Largest Market, By Product Type in Rest of Asia Oceania
10.3 Europe
10.3.1 Germany
10.3.1.1 Germany is Estimated to Be the Largest Market in Europe
10.3.2 France
10.3.2.1 Axle is Estimated to Be the Largest Market, By Product Type in France
10.3.3 UK
10.3.3.1 Axle is Estimated to Be the Largest Market, By Product Type in the UK
10.3.4 Rest of Europe
10.3.4.1 Propeller Shaft is Forecasted to Grow at A Highest CAGR During the Period of 2019-2025
10.4 North America
10.4.1 US
10.4.1.1 US is Estimated to Be the Largest Market for North America in 2019
10.4.2 Canada
10.4.2.1 Axle is Estimated to Be the Largest Market for Canada in 2019
10.4.3 Mexico
10.4.3.1 Mexico is Anticipated to Be the Fastest Growing Market in North America During the Forecast Period
10.5 RoW
10.5.1 South Africa
10.5.1.1 Axle is Estimated to Be the Largest Market for South Africa
10.5.2 Brazil
10.5.2.1 Brazil is Anticipated to Be the Largest as Well as Fastest Market in RoW
10.5.3 Rest of RoW
10.5.3.1 Axle is Estimated to Be the Largest Rest of RoW Market in 2019
11 Competitive Landscape
11.1 Overview
11.2 Axle and Propeller Shaft: Market Share
11.2.1 Automotive Axle: Market Scenario
11.2.2 Automotive Propeller Shaft: Market Scenario
11.3 Competitive Leadership Mapping
11.3.1 Terminology
11.3.2 Visionary Leaders
11.3.3 Innovators
11.3.4 Dynamic Differentiators
11.3.5 Emerging Companies
11.3.6 Strength of Product Portfolio
11.3.7 Business Strategy Excellence
11.4 Competitive Scenario
11.4.1 New Product Launches/New Product Developments
11.4.2 Supply Contract/Partnerships/Joint Ventures/Collaborations
11.4.3 Expansions
11.4.4 Mergers & Acquisitions
12 Company Profiles
12.1 ZF Friedrichshafen AG
12.2 GKN PLC
12.3 Dana Incorporated
12.4 American Axle & Manufacturing Holdings, Inc.
12.5 Meritor, Inc.
12.6 Showa Corporation
12.7 Hyundai Wia Corporation
12.8 Gestamp
12.9 Jtekt Corporation
12.10 Ifa Rotorion Holding GmbH
For more information about this report visit https://www.researchandmarkets.com/r/sm3tuf
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Media Contact:
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
View original content:SOURCE Research and Markets
