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Report Overview
The global market for automotive axle and propeller shaft attained a value of USD 36.53 Billion in 2024. The market is expected to grow at a CAGR of 2.90% between 2025 and 2034 to reach almost USD 48.62 Billion by 2034.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
- According to ACEA, global motor vehicle production hit 85.4 million units in 2022, rising by 5.7% from 2021, thus driving the global automotive axle and propeller shaft market.
- In 2022, the International Energy Agency noted a 60% surge in electric vehicle adoption, surpassing 26 million.
- Asia Pacific dominates the market share, driven by increasing automobile production in China and India.
Global Automotive Axle and Propeller Shaft Market Trends
The surge in the desire for comfortable and fuel-efficient automobiles is anticipated to boost the global automotive axle and propeller shaft industry development in the future. Fuel-efficient vehicles, defined as those consuming less than 6 litres per 100 km, contribute to mitigating global warming emissions and minimising pollution.
As per the global market study, automotive axle and propeller shafts aid in enhancing fuel efficiency, reducing carbon emissions, lessening reliance on foreign oil, and promoting the utilisation of sustainable energy sources.
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 36.53 Billion in 2024.
The market is projected to grow at a CAGR of 2.90% between 2025 and 2034.
The revenue generated from the market is expected to reach USD 48.62 Billion in 2034.
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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