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The global automotive axle & propeller shaft market is being driven by the rising preference for comfort by the customers. Automotive axle and propeller shafts are the essential components that help generate momentum in vehicles. The axle bears the entire weight of a vehicle and provides torque to the wheels. The propeller shaft transfers the power from an engine to the wheels of a vehicle. The global automotive axle & propeller shaft industry is being driven by the growing Asia Pacific market, which is supported by the growth of the automotive industry in the region.
In 2020, American Axle and Manufacturing (NYSE: AXL), a major key player in the global automotive axle & propeller shaft market, announced that it would supply power transfer units (PTU) for Ford’s (NYSE: F) crossover vehicles, Ford Edge and Lincoln Nautilus. In 2018, the company entered into a joint venture with Liuzhou Wuling Automobile Industry, a Guangxi Automobile Group’s subsidiary, to manufacture driveline systems, which include propeller and drive shafts.
Market Analysis by Type, Axle Position, Vehicle Type, Material, and Region:
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Dana Limited, American Axle & Manufacturing Holdings, Inc., Showa Corporation, Hyundai Wia Corporation, GKN Automotive Limited, and JTEKT Corporation, among others, are the key players in the global automotive axle & propeller shaft market as identified by EMR. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions, and capacity expansions.
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