Global Automotive Axle & Propeller Shaft Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2022 to 2028

The global automotive axle & propeller shaft market is anticipated to grow at a significant CAGR of 3.8% during the forecast period (2022-2028). The axle is a central shaft that rotates the wheels while also sustaining the vehicle’s weight. It is a necessary component of an automobile and comes in three different types-front, rear, and stub. In most cases, passenger cars have one live axle and one dead axle. Furthermore, a propeller shaft, additionally, known as a Carden shaft, delivers engine torque from transmission to the rear axle or front axle. A propeller shaft has a tubular section and can be manufactured in one or many pieces.

The automotive axle and propeller shaft market are expected to grow due to rising vehicle production, demand for luxury vehicles, AWD vehicles, and the commercialization of breakthrough technologies targeted at lowering overall vehicle weight. The automotive industry is seeing an increase in demand for fuel-efficient vehicles to go along with an increase in production as a result of a greater focus on sustainability. OEMs and tier-I suppliers are working together to develop innovative fuel-efficient technology and lightweight solutions that enable vehicles to perform better. These factors are expected to play an important role in the growth of the global automotive axle and propeller shaft market.

The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, in order to stay competitive in the market. For instance-

• In February 2020, Dana introduced the Spicer Electrified eS9000r e-Axle for class 4 and 5 commercial vehicles in North America, and it is the only supplier to produce all components of a system, including the axle, motor, gear, and inverter.
• In January 2020, Delta Electronics Inc. and GKN Automotive launched a joint development effort aimed at accelerating the development of next-generation integrated 3-in-1 eDrive systems with power ratings ranging from 80 to 155 kW. Delta Electronics Inc. inverters are planned to be integrated with GKN Automotives eMotor and gearbox systems in a 3-in-1 solution as part of the joint development of sophisticated eDrive technology.
• In December2019, Axle Manufacturing (AAM) has expanded its Ram heavy-duty truck driveline segment, now offering front and rear axles as well as drive shafts for the Ram 2500 Heavy Duty, Ram 3500 Heavy Duty, Ram 3500 Chassis Cab, Ram 4500 Chassis Cab, and Ram 5500 Chassis Cab trucks.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Vehicle Type
  • Sales Channel
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape-American Axle & Manufacturing, Inc., Dana Inc., Gestamp Automocion, S.A., Hitachi, Ltd., and Hyundai Wia Corp., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Automotive Axle & Propeller Shaft Market Report by Segment

By Type

• Live Axle
• Dead Axle
• Tandem Axle
• Single Piece Propeller Shaft
• Multi-Piece Propeller Shaft
• Slip-in Tube Propeller Shaft

By Vehicle Type

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles

By Sales Channel

• OEM
• Aftermarket