Automotive Axle & Propeller Shaft Market Size, Share, Analysis by 2021

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The demand for Automotive Axle and Propeller Shaft Market is governed by global vehicle production as well as engineering advancements with an aim to deliver highest vehicle performance. Global automotive axle & propeller shaft sales value is projected to grow at a CAGR of 8.22% from 2016 to 2021, to reach USD 58.07 billion by 2021. The base year for the study is 2015, and the forecast period is from 2016 to 2021.
Automotive Axle & Propeller Shaft
Various secondary sources, such as company annual reports/presentations, press releases, industry association publications such as International Organization of Motor Vehicle Manufacturers (OICA), Canada Automobile Association (CAA), Europe Automobile Manufacturers Association (EAMA), investor presentations and annual reports of key market players.  The primary sources-experts from automotive axle and propeller shaft manufacturers, automotive component manufacturers, distributors and suppliers of automotive components/parts have been interviewed to obtain and verify critical information, as well as to assess future prospects and market estimations. Bottom-up approach has been used for market estimation and calculating the size of the automotive axle and propeller shaft. The figure given below illustrates the break-up of the profile of industry experts who participated in primary discussions.
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Objectives of the Automotive Axle & Propeller Shaft Market Study

  • To define, describe, and project the for automotive axles and propeller shafts market on the basis of type, position, material, and region
  • To provide a detailed analysis regarding the various forces acting in the market (drivers, restraints, opportunities, and challenges)
  • To analyze the regional markets for growth trends, future prospects, and their contribution to the total market
  • To project the market for these systems across the four-key region-wise automotive markets, namely, Asia-Oceania, Europe, North America, and Rest of the World (RoW)
  • To strategically profile key players and comprehensively analyze their market shares and core competencies
  • To analyze and define the stakeholders in the market and provide a detailed competitive landscape
  • To analyze the opportunities offered by various segments of the market to the stakeholders
  • To track and analyze competitive developments such as joint ventures, mergers and acquisitions, new product launches, expansions, and other industry activities carried out by the key industry participants

Critical Questions which the report answers:

  • What are the industry trends of the automotive axle & propeller shaft market?
  • What would be the impact of government mandates to regularise emission norms on automotive axle & propeller shaft market?
  • What are the technological developments in the automotive axle & propeller shaft market?

Target Audience of Automotive Axle & Propeller Shaft Market  

  • Manufacturers of automotive axle and propeller shaft
  • Manufacturers of automotive axle and propeller shaft components
  • Raw material suppliers for axles and propeller shafts or their components
  • Traders, distributors, and suppliers of automotive axles and propeller shafts or their components
The Asia-Oceania is the largest market for automotive axle & propeller shaft. Asia-Oceania is estimated to be the largest market for axles and propeller shafts and is projected to grow at the highest rate from 2016–2021 period. In recent years, the region has emerged as a hub for automobile production. Infrastructural developments and industrialization activities in emerging economies have opened new avenues, creating several opportunities for OEMs along with automotive component suppliers.

Dead Axle

A dead axle does not transmit any power to the wheels and it simply supports the weight of the vehicle. It consists of a shaft which mounts the wheels and has no internal gearing which provides power to the wheels. This eliminates internal friction and reduces parasitic losses. Passenger cars which are front wheel driven utilize axles just to bear the weight while the power is transmitted through a transaxle unit. A heavy commercial vehicle with a tractor configuration of 6×2 where the power is transmitted to a single axle consists of two dead axles. One of the two rear axles are a dead axle or tag axle which does not affect the GAWR of the vehicle while improving fuel efficiency in heavy commercial vehicles. The market for dead axles in HCVs is estimated to grow as OEMs start to opt for 6×2 configuration especially in North America where the penetration is low as compared to other regions. However, lower resale value and lower traction as compared to 6×4 configuration is restraining the market.

Live Axle

Live axle drives the wheel connected to it along with supporting the weight of the car. It transmits the power from the propeller shaft to the wheels using a differential and its assembly consists of axle tubes and center differential which is connected to the wheels. Passenger cars which are rear wheel driven uses a live axle whereas AWD vehicles utilize two live axles as it offers better traction and handling while driving. For instance, currently many passenger cars and SUVs in the U.S. employ either RWD or AWD drivetrain. Owing to this market trend, the demand for live axles has grown consistently in North American region. Automobiles utilize four types of live axles which are plain, semi floating, three-quarter floating, and full floating. Semi floating axles are common in passenger cars and LCVs whereas full floating axles are common in heavy trucks.
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