Reports
Sale
Global Automotive Axle and Propeller Shaft Market Share: By Type: Axle, Propeller Shaft; By Axle Position: Front, Rear; By Vehicle Type: Two-Wheeler, Passenger Cars, Commercial Vehicle; By Material: Alloy, Carbon Fibre; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Global Automotive Axle and Propeller Shaft Market Outlook
The global automotive axle and propeller shaft market size attained a value of USD 35.50 billion in 2023. The market is expected to grow at a CAGR of 2.9% between 2024 and 2032 to reach almost USD 45.85 billion by 2032.
Key Takeaways:
- 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 global automotive axle and propeller shaft market share, driven by increasing automobile production in China and India.
Axle shafts serve as the primary mechanism for transferring rotational force and power from the transmission to propel the vehicle forward. When the transmission exerts force on the axle shaft, it induces rotation, which, in turn, causes the connected wheels to move. Similarly, the propeller shaft, an integral part of the vehicle's drivetrain, facilitates the transmission of torque from the transmission to the differential, which subsequently transfers this torque to the wheels, enabling vehicle motion.
Automotive axles and propeller shafts are vital components that play a pivotal role in propelling vehicles forward. They are typically crafted from materials such as medium-carbon steel, glass fibres, thermoplastic polyamide, epoxy composite, chrome-molybdenum steel, and carbon fibres.
As reported by ACEA, the global production of motor vehicles reached 85.4 million units in 2022, marking a 5.7% increase compared to 2021. This surge in production has led to heightened demand, thus pushing the global automotive axle and propeller shaft market growth.
WORLD VEHICLE PRODUCTION, IN THOUSAND UNITS, IN 2022
Key Trends and Developments
The global automotive axle and propeller shaft market is growing with rising demand for e-vehicles, all-wheel-driven vehicles, automatic vehicles, and technological advancements.
October 2023
Ford recalled 238,000 Explorers due to possible rear axle bolt issues.
September 2023
Mahindra has initiated a service action for the XUV700, Scorpio-N, and Thar, involving the replacement of flex plate bolts, torque converter bolts, and propeller shaft bolts.
July 2023
ZF commercial vehicle solutions introduced innovative electric axle drive systems for both light and heavy trucks.
April 2023
RSB Group extended its presence in Sri City, Andhra Pradesh, by unveiling its 13th advanced facility dedicated to manufacturing propeller shaft assemblies.
Increasing demand for e-vehicles
The rise in electric vehicle adoption stems from their efficiency and eco-friendliness. According to the International Energy Agency, in 2022, the number of electric vehicles in use exceeded 26 million, marking a 60% increase compared to 2021.
Technological advancements
Innovative axle and propeller shaft designs, optimising gear positions and bearing placement, are set to lighten axles and boost vehicle efficiency. Integration of sensors and data analytics enables predictive maintenance, enhancing performance and reliability.
All-wheel drive vehicle
AWD is a mechanism that distributes power to all four wheels continuously, offering benefits in traction and cold conditions. Full-time AWD setups power both front and rear axles consistently using a centre differential.
Growing interest in automatic vehicles
Rising interest in automatic cars is fuelling the requirement for robust axle and propeller shafts. These durable components endure heavy loads and transmit rotational force from the transmission to the wheels, initiating vehicle movement.
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 market 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 automotive axle and propeller shaft 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.
Market Segmentation
Global Automotive Axle and Propeller Shaft Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Axle
- Live
- Dead
- Tandem
- Propeller Shaft
- Single Piece
- Multi Piece
- Slip-in Tube
Market Breakup by Axle Position
- Front
- Rear
Market Breakup by Vehicle Type
- Two-Wheeler
- Passenger Cars
- Commercial Vehicle
Market Breakup by Material
- Alloy
- Carbon Fibre
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Based on axle type, the live axle leads the global automotive axle and propeller shaft 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 global 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.
Global Automotive Axle and Propeller Shaft Market Analysis by Region
In terms of geography, Asia Pacific dominates the global automotive axle and propeller shaft market share and is projected to maintain the lead in the foreseeable future. This growth is propelled by heightened automobile production in countries like China and India, driving demand for propeller shafts and automotive axles.
The European market is projected to grow at a steady pace during the forecast period due to rising demand for Electric Vehicles. According to the European Environment Agency, in 2022, approximately 56,500 electric vans were purchased in the EU-27, accounting for 5.5% of the market share.
SHARE OF ELECTRIC CARS, EU-27
In North America, Latin America, the Middle East, and Africa, the market is expanding due to increasing vehicle sales, the popularity of automatic cars, and technological advancements in the field.
Competitive Landscape
The market players are focusing on the electrification of vehicles and are introducing innovative electric axle drive systems to maintain their presence in the market.
Dana Limited, established in 1904, and headquartered in the United States, is an American provider of axles, driveshafts, transmissions, and various equipment for traditional, hybrid, and electric vehicles. Its offerings cater to light vehicles, commercial vehicles, and off-highway equipment sectors.
American Axle & Manufacturing Holdings Inc. was founded in 1994 and headquartered in the United States, designs, engineers, and produces driveline and metal forming technologies for electric, hybrid, and internal combustion vehicles.
Hyundai Wia founded in 1976 and headquartered in South Korea, is a diversified defence industry firm specialising in manufacturing middle and large-calibre artillery, naval guns, and aircraft landing gear. It also innovates automotive parts, machine tools, and defence technology.
Other global automotive axle and propeller shaft market key players are Hitachi Astemo, Ltd, GKN Automotive Limited, JTEKT Corporation, Automotive Axles Limited, GNA Axles Limited, SAF-HOLLAND SE, and Northern Industrial Manufacturing, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Axle Position |
|
| Breakup by Vehicle Type |
|
| Breakup by Material |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Automotive Axle and Propeller Shaft Market Analysis
8.1 Key Industry Highlights
8.2 Global Automotive Axle and Propeller Shaft Historical Market (2018-2023)
8.3 Global Automotive Axle and Propeller Shaft Market Forecast (2024-2032)
8.4 Global Automotive Axle and Propeller Shaft Market by Type
8.4.1 Axle
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.1.3 Breakup by Type
8.4.1.3.1 Live
8.4.1.3.2 Dead
8.4.1.3.3 Tandem
8.4.2 Propeller Shaft
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.2.3 Breakup by Type
8.4.2.3.1 Single Piece
8.4.2.3.2 Multi Piece
8.4.2.3.3 Slip-in Tube
8.5 Global Automotive Axle and Propeller Shaft Market by Axle Position
8.5.1 Front
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Rear
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Automotive Axle and Propeller Shaft Market by Vehicle Type
8.6.1 Two-Wheeler
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Passenger Cars
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Commercial Vehicle
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.7 Global Automotive Axle and Propeller Shaft Market by Material
8.7.1 Alloy
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Carbon Fibre
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.8 Global Automotive Axle and Propeller Shaft Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Automotive Axle and Propeller Shaft Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Automotive Axle and Propeller Shaft Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Automotive Axle and Propeller Shaft Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Automotive Axle and Propeller Shaft Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Automotive Axle and Propeller Shaft Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Trade Data Analysis (HS Code- 870850)
15.1 Major Importing Countries
15.1.1 By Volume
15.1.2 By Value
15.2 Major Exporting Countries
15.2.1 By Volume
15.2.2 By Value
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Dana Limited
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 American Axle & Manufacturing Holdings, Inc.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Hitachi Astemo, Ltd.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Hyundai Wia
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 GKN Automotive Limited
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 JTEKT Corporation
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Automotive Axles Limited
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 GNA Axles Limited
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 SAF-HOLLAND SE
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Northern Industrial Manufacturing
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Automotive Axle and Propeller Shaft Market: Key Industry Highlights, 2018 and 2032
2. Global Automotive Axle and Propeller Shaft Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Automotive Axle and Propeller Shaft Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Automotive Axle and Propeller Shaft Historical Market: Breakup by Axle Position (USD Billion), 2018-2023
5. Global Automotive Axle and Propeller Shaft Market Forecast: Breakup by Axle Position (USD Billion), 2024-2032
6. Global Automotive Axle and Propeller Shaft Historical Market: Breakup by Vehicle Type (USD Billion), 2018-2023
7. Global Automotive Axle and Propeller Shaft Market Forecast: Breakup by Vehicle Type (USD Billion), 2024-2032
8. Global Automotive Axle and Propeller Shaft Historical Market: Breakup by Material (USD Billion), 2018-2023
9. Global Automotive Axle and Propeller Shaft Market Forecast: Breakup by Material (USD Billion), 2024-2032
10. Global Automotive Axle and Propeller Shaft Historical Market: Breakup by Region (USD Million), 2018-2023
11. Global Automotive Axle and Propeller Shaft Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Automotive Axle and Propeller Shaft Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Automotive Axle and Propeller Shaft Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Automotive Axle and Propeller Shaft Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Automotive Axle and Propeller Shaft Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Automotive Axle and Propeller Shaft Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Automotive Axle and Propeller Shaft Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Automotive Axle and Propeller Shaft Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Automotive Axle and Propeller Shaft Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Automotive Axle and Propeller Shaft Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Automotive Axle and Propeller Shaft Market Forecast: Breakup by Country (US Billion), 2024-2032
22. Global Automotive Axle and Propeller Shaft Market Structure
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.
Purchase Options 10% off
Call us
Purchase Full Report
Mini Report
$ 2199
$1999
-
Selected Sections, One User
-
Printing Not Allowed
-
Email Delivery in PDF
-
Free Limited Customisation -
Post Sales Analyst Support -
50% Discount on Next Update
Single User License
$ 3299
$2999
-
All Sections, One User
-
One Print Allowed
-
Email Delivery in PDF
-
Free Limited Customisation -
Post Sales Analyst Support -
50% Discount on Next Update
Five User License
$ 4399
$3999
-
All Sections, Five Users
-
Five Prints Allowed
-
Email Delivery in PDF
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Corporate License
$ 5499
$4999
-
All Sections, Unlimited Users
-
Unlimited Prints Allowed
-
Email Delivery in PDF + Excel
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Any Question? Speak With An Analyst
View A Sample
Did You Miss Anything, Ask Now
Why Expert Market Research?
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.
NEWSLETTER