Report Overview

The global market for automotive axle and propeller shaft attained a value of USD 35.50 Billion in 2023. The market is expected to grow at a CAGR of 2.90% between 2024 and 2032 to reach almost USD 45.92 Billion by 2032.

2023

Base Year

2018-2023

Historical Year

2024-2032

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 35.50 Billion in 2023.

The market is projected to grow at a CAGR of 2.90% between 2024 and 2032.

The revenue generated from the market is expected to reach USD 45.92 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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30 North Gould Street, Sheridan, WY 82801

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63 Fiona Drive, Tamworth, NSW

+61-448-061-727

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63-287-899-028, +63-967-048-3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

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