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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Automotive Axle and Propeller Shaft Market Share
Based on axle type, the live axle leads the global market share which optimises vehicle performance and provides high torque
Due to the shorter distance between the engine and rear axle, coupled with advantages like reduced friction and mechanical losses, single-piece shafts are preferred over multi-piece shafts. Additionally, their lighter weight enhances performance at higher speeds. This is driving the demand of automotive axle and propeller shaft market.
Dead front axles, which remain stationary and don't rotate with the wheels, offer stability and predictable vehicle behaviour, particularly in tandem configurations capable of carrying heavier loads.
The rising demand for single-piece propeller shafts is fuelling the market growth, particularly in light-duty vehicles
As per the global automotive axle and propeller shaft market report, growing emphasis on enhancing vehicle performance and increasing torque output. Additionally, market expansion is driven by rising vehicle production and engineering innovations to meet evolving consumer preferences.
Slip-in tubes, resembling two-piece shafts but with added spline movement, offer greater angular flexibility. Their ability to adjust shaft length reduces vibrations and lessens the load on driveshaft components.
Front positions exert significant dominance in the global automotive axle and propeller shaft market
Front axles may be categorised as either live or dead. Live front axles can rotate the wheels, while rear axles, typically situated at the vehicle's rear, are predominantly live, transmitting power to the driving wheels.
Carbon fibre material is increasingly demanded in the global automotive axle and propeller shaft market owing to its ability to reduce drivetrain inertia, enhance critical speed margins, and lower overall weight
Decreased noise, vibration, and harmonics contribute to a smoother ride, benefiting both equipment and operators. Consequently, carbon fibre drive shafts experience reduced stress and exhibit prolonged durability.
Automotive Axle and Propeller Shaft Market Report Snapshots
Automotive Axle and Propeller Shaft Market Size
Automotive Axle and Propeller Shaft Market Growth
Automotive Axle and Propeller Shaft Market Trends
Automotive Axle and Propeller Shaft Market Share
Automotive Axle and Propeller Shaft Companies
Automotive Axle and Propeller Shaft Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global automotive axle and propeller shaft market reached a value of USD 35.50 billion in 2023.
The market is projected to grow at a CAGR of 2.9% between 2024 and 2032.
The revenue generated from the market is expected to reach USD 45.85 billion in 2032.
The axle and propeller shaft market is growing with increasing demand for e-vehicles, all-wheel drive vehicles, automatic vehicles, and technological advancements.
Based on the axle position, the axle and propeller shaft market is bifurcated into front and rear.
Key players in the industry are Dana Limited, American Axle & Manufacturing Holdings, Inc., Hyundai Wia, GKN Automotive Limited, JTEKT Corporation, Automotive Axles Limited, GNA Axles Limited, SAF-HOLLAND SE, and Northern Industrial Manufacturing, among others.
Based on vehicle type, the axle and propeller shaft market is divided into two-wheelers, passenger cars, and commercial vehicles.
The different material types in the axle and propeller shaft market include alloy and carbon fibres.
The market breakup by region North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124