Automotive axle and propeller shafts are key components to generate momentum in vehicles by transferring torque from differential to wheels and engine to differential, respectively. Axles transfer the torque from differential to wheels or serve only as a support for vehicle loads while providing the mounting for wheel assembly. The functioning of the axle depends on the position and type of axle. Commercial vehicles, such as heavy trucks, medium duty trucks, and buses may integrate more than two live axles depending on the application and role of the vehicle, whereas most of the passenger cars are integrated with one live axle & one dead axle. Propeller shaft also known as drive shaft is used to transfer torque from the engine to the differential of the vehicle. Propeller shaft is integrated with the differential using one or more universal joints or jaw couplings. Propeller shafts are capable of transferring large amount of torque with minimum power loss as compared to belt and chain drive systems. Major players in the market are investing huge amount of capital in research & development to enhance their technical expertise, offer new & innovative products, and increase their product portfolio. For instance, in 2015 American Axle & Manufacturing, Inc, a leading manufacturer of axle & propeller shafts invested $113.9 million in R&D to enhance their axle and propeller shaft product portfolio.
The demand for automotive axles and propeller shafts is governed by increase in production and sales of vehicles globally and increase in customer demand for quieter cabin & increased comfort in vehicles. In addition, reduction in maintenance cost of the vehicle is another factor that drives the market. However, volatile price of raw material such as steel and alloy of carbon and aluminum used for manufacturing of axles and propellers slows down the market growth. Moreover, increase in demand of fuel efficient vehicle is expected to provide opportunity for the key players in this market to provide low cost and light weight products further increasing fuel efficiency of the vehicles. Increase in adoption of all wheel drive (AWD) vehicles mostly in North America and Europe has further spurred the demand for axles and propeller shafts.
The market is segmented on the basis of axle & propeller shaft type, vehicle type, and geography. Axle & propeller shaft type segment is further bifurcated into axle type (dead axle, live axle, and tandem axle) and propeller shaft type (single piece, multi piece, and slip in tube). Vehicle type segment is divided into two wheelers, passenger cars, and commercial vehicle. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is divided into U.S., Canada, and Mexico, whereas Europe is classified into Germany, France, Italy, U.K., and Rest of Europe. Asia-Pacific is further segmented into China, Australia, Japan, India, and Rest of Asia-Pacific. Latin America, Middle East, and Africa are considered under LAMEA.
The key players profiled in the report include American Axle & Manufacturing, Inc., ZF Friedrichshafen AG, Meritor, Inc., Dana Limited, SHOWA Corporation, IFA Rotorion, JTEKT Corporation, HYUNDAI DYMOS, GKN plc, Neapco Holdings LLC, CIE Automotive USA, Inc., Colfor Manufacturing, Inc., Dexter Axle Company, Fabco Automotive Corporation, NTK Precision Axle Corporation, Sypris Technologies, LLC, Westport Axle Corporation, and Magna International Inc.
The report includes an extensive analysis of the factors that drive as well as restrain the world automotive axle and propeller shaft market.
The market projections from 2014 to 2022 are included along with the affecting factors.
The report also provides quantitative as well as qualitative trends to assist the stakeholders understand the situations prevailing in the market.
An in-depth analysis of key segments demonstrates stakeholders with different types of axle and propeller shaft used in vehicles.
Competitive intelligence highlights the business practices followed by leading market players across various geographies.
BY AXLE & PROPELLER SHAFT TYPE
Propeller shaft type
Slip in tube
BY VEHICLE TYPE
Rest of Europe
Rest of Asia-Pacific
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY
1.4.1. SECONDARY RESEARCH
1.4.2. PRIMARY RESEARCH
1.4.3. ANALYST TOOLS AND MODELS
CHAPTER 2 EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE
CHAPTER 3 MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. TOP WINNING STRATEGIES
3.2.2. TOP INVESTMENT POCKETS
3.3. VALUE CHAIN ANALYSIS
3.4. PORTERS FIVE FORCES ANALYSIS
3.4.1. BARGAINING POWER OF SUPPLIERS
3.4.2. BARGAINING POWER OF BUYERS
3.4.3. THREAT OF SUBSTITUTES
3.4.4. THREAT OF NEW ENTRANTS
3.4.5. INTENSITY OF COMPETITIVE RIVALRY
3.5. MARKET SHARE ANALYSIS, 2015
3.6. MARKET DYNAMICS
22.214.171.124. INCREASING PRODUCTION AND SALES OF VEHICLE GLOBALLY
126.96.36.199.INCREASING DEMAND OF COMFORT IN VEHICLES
188.8.131.52. INCREASING DEMAND OF FUEL EFFICIENT VEHICLE
184.108.40.206.VOLATILE PRICE OF RAW MATERIAL
220.127.116.11. INCREASING DEMAND OF ALL WHEEL DRIVE(AWD)
18.104.22.168. MANUFACTURING AXLE & PROPELLER SHAFT WITH LIGHT WEIGHT AUTOMOTIVE MATERIAL
CHAPTER 4 WORLDAUTOMOTIVE AXLE & PROPELLER SHAFT MARKET, BY AXLE & PROPELLER SHAFT TYPE
4.1.1. MARKET SIZE AND FORECAST
4.2. AXLE TYPE
4.2.1. KEY MARKET TRENDS
4.2.2. GROWTH FACTORS AND OPPORTUNITIES
4.2.3. MARKET SIZE AND FORECAST
4.2.4. LIVE AXLE
22.214.171.124. MARKET SIZE AND FORECAST
4.2.5. DEAD AXLE
126.96.36.199. MARKET SIZE AND FORECAST
4.2.6. TANDEM AXLE
188.8.131.52. MARKET SIZE AND FORECAST
4.3. PROPELLER SHAFT TYPE
4.3.1. KEY MARKET TRENDS
4.3.2. GROWTH FACTORS AND OPPORTUNITIES
4.3.3. MARKET SIZE AND FORECAST
4.3.4 SINGLE PIECE
184.108.40.206. MARKET SIZE AND FORECAST
4.3.5 MULTI PIECE
220.127.116.11. MARKET SIZE AND FORECAST
4.3.6 SLIP IN TUBE
18.104.22.168. MARKET SIZE AND FORECAST
CHAPTER 5 WORLD AUTOMOTIVE AXLE & PROPELLER SHAFT MARKET, BY VEHICLE TYPE
5.1.1. MARKET SIZE AND FORECAST
5.2.1. KEY MARKET TRENDS
5.2.2. GROWTH FACTORS AND OPPORTUNITIES
5.2.3. MARKET SIZE AND FORECAST
5.3. PASSENGER CARS
5.3.1. KEY MARKET TRENDS
5.3.2. GROWTH FACTORS AND OPPORTUNITIES
5.3.3. MARKET SIZE AND FORECAST
5.4. COMMERCIAL VEHICLE
5.4.1. KEY MARKET TRENDS
5.4.2. GROWTH FACTORS AND OPPORTUNITIES
5.4.3. MARKET SIZE AND FORECAST
CHAPTER 6 WORLD AUTOMOTIVE AXLE & PROPELLER SHAFT MARKET, BY GEOGRAPHY
6.1.1. MARKET SIZE AND FORECAST
6.2. NORTH AMERICA
6.2.1. KEY MARKET TRENDS
6.2.2. GROWTH FACTORS AND OPPORTUNITIES
6.2.3. MARKET SIZE AND FORECAST
22.214.171.124. MARKET SIZE AND FORECAST
126.96.36.199. MARKET SIZE AND FORECAST
188.8.131.52. MARKET SIZE AND FORECAST
6.3.1. KEY MARKET TRENDS
6.3.2. GROWTH FACTORS AND OPPORTUNITIES
6.3.3. MARKET SIZE AND FORECAST
184.108.40.206. MARKET SIZE AND FORECAST
220.127.116.11. MARKET SIZE AND FORECAST
18.104.22.168. MARKET SIZE AND FORECAST
22.214.171.124. MARKET SIZE AND FORECAST
6.3.8. REST OF EUROPE
126.96.36.199. MARKET SIZE AND FORECAST
6.4.1. KEY MARKET TRENDS
6.4.2. GROWTH FACTORS AND OPPORTUNITIES
6.4.3. MARKET SIZE AND FORECAST
188.8.131.52. MARKET SIZE AND FORECAST
184.108.40.206. MARKET SIZE AND FORECAST
220.127.116.11. MARKET SIZE AND FORECAST
18.104.22.168. MARKET SIZE AND FORECAST
6.4.8. REST OF ASIA-PACIFIC
22.214.171.124. MARKET SIZE AND FORECAST
6.5.1. KEY MARKET TRENDS
6.5.2. GROWTH FACTORS AND OPPORTUNITIES
6.5.3. MARKET SIZE AND FORECAST
6.5.4. LATIN AMERICA
126.96.36.199. MARKET SIZE AND FORECAST
6.5.5. MIDDLE EAST
188.8.131.52. MARKET SIZE AND FORECAST
184.108.40.206. MARKET SIZE AND FORECAST
CHAPTER 7 COMPANY PROFILES
7.1. AMERICAN AXLE & MANUFACTURING, INC.
7.1.1. COMPANY OVERVIEW
7.1.2. OPERATING BUSINESS SEGMENTS
7.1.3. BUSINESS PERFORMANCE
7.1.4. KEY STRATEGIC MOVES AND DEVELOPMENTS
7.2. SHOWA CORPORATION
7.2.1. COMPANY OVERVIEW
7.2.2. OPERATING BUSINESS SEGMENTS
7.2.3. BUSINESS PERFORMANCE
7.2.4. KEY STRATEGIC MOVES AND DEVELOPMENTS
7.3. JTEKT CORPORATION
7.3.1. COMPANY OVERVIEW
7.3.2. OPERATING BUSINESS SEGMENTS
7.3.3. BUSINESS PERFORMANCE
7.3.4. KEY STRATEGIC MOVES AND DEVELOPMENTS
7.4. NEAPCO INC
7.4.1. COMPANY OVERVIEW
7.4.2. OPERATING BUSINESS SEGMENTS
7.4.3. KEY STRATEGIC MOVES AND DEVELOPMENTS
7.5. DANA LIMITED
7.5.1. COMPANY OVERVIEW
7.5.2. OPERATING BUSINESS SEGMENTS
7.5.3. BUSINESS PERFORMANCE
7.5.4. KEY STRATEGIC MOVES AND DEVELOPMENTS
7.6. MERITOR, INC
7.6.1. COMPANY OVERVIEW
7.6.2. OPERATING BUSINESS SEGMENTS
7.6.3. BUSINESS PERFORMANCE
7.6.4. KEY STRATEGIC MOVES AND DEVELOPMENTS
7.7. HYUNDAI DYMOS
7.7.1. COMPANY OVERVIEW
7.7.2. OPERATING BUSINESS SEGMENTS
7.7.3. BUSINESS PERFORMANCE
7.7.4. KEY STRATEGIC MOVES AND DEVELOPMENTS
7.8. IFA ROTORION
7.8.1. COMPANY OVERVIEW
7.8.2. OPERATING BUSINESS SEGMENTS
7.8.3. KEY STRATEGIC MOVES AND DEVELOPMENTS
7.9. ZF FRIEDRICHSHAFEN AG
7.9.1. COMPANY OVERVIEW
7.9.2. OPERATING BUSINESS SEGMENTS
7.9.3. BUSINESS PERFORMANCE
7.9.4. KEY STRATEGIC MOVES AND DEVELOPMENTS
7.10. GKN PLC
7.10.1. COMPANY OVERVIEW
7.10.2. OPERATING BUSINESS SEGMENTS
7.10.3. BUSINESS PERFORMANCE
7.10.4. KEY STRATEGIC MOVES AND DEVELOPMENTS
Purpose of automotive axle is to transfer the driving torque from the differential to the vehicle's driving wheels whereas propeller shaft transfer the torque from gearbox to differential. Propeller shafts are widely used in vehicles where the distance between engine and differential is large. Increase in production of vehicles and increasing demand for comfort while driving the vehicle boosts the market growth. However, volatile prices of raw material used for manufacturing axle & propeller shaft such as steel, aluminum, and alloy of carbon restrain the market growth. Irrespective of these challenges, increase in demand for fuel efficient vehicle is expected to provide opportunity for the key market players in this market to provide low cost and fuel efficient components. Increase in adoption of all wheel drive (AWD) vehicles mostly in North America and Europe has further spurred the demand for axles and propeller shafts.
Axle type segment is further divided into live axle, dead axle, and tandem axle. As of 2015, live axle accounted for the largest revenue among others and is anticipated to witness the highest growth rate of 4.5% CAGR among others owing to increase in demand for all wheel drive (AWD) vehicles. Whereas, tandem axle is anticipated to witness the moderate growth during the forecast period. This is mainly due to increase in number of heavy commercial vehicles such as heavy duty buses and trucks.
Propeller shaft segment is further classified into single piece, multi piece, and slip in tube. Single piece propeller shaft is expected to maintain its lead throughout forecast period due to increase in number of passenger cars and light commercial vehicle. Single piece propeller shaft finds its application majorly in passenger cars and light commercial vehicle (LCV). In addition, the major advantage of equipping vehicles with single piece propeller shaft is minimum wear and tear owing to less moving parts as compared to other type of propeller shaft. Whereas, slip in tube propeller shaft is anticipated to witness the highest growth rate among others, owing to its benefits such as absorbing crash energy, as it can be compressed in the event of a crash.
Vehicle type segment is further divided into two wheeler, passenger cars and commercial vehicles. Passenger car segment is anticipated to maintain its dominant position throughout the analysis period. This is mainly due to increase in number of passenger cars, such as BEV, HEV, and conventional fuel cars. Two wheeler segment is anticipated to witness the highest growth rate owing to increase in number of electric and conventional two wheelers in developing economies, such as China, India, and Brazil.
Asia-Pacific accounted for the majority of revenue in 2015 and is expected to maintain its dominance throughout the forecast period. This is attributed to the increased adoption of electric vehicle and increase in sales of vehicles in the developing countries, such as China, India, Singapore, and Malaysia.
However, Asia Pacific is projected to be the fastest growing region throughout the analysis period. North America dominates the market in terms of commercial vehicles production, as majority of commercial vehicles suppliers are located in this region.
Key Findings of Automotive Axle & Propeller Shaft MarketStudy:
In 2015, live axle led the overall automotive axle revenue, and is projected to grow at a CAGR of 4.5% during the forecast period.
In 2015, single piece propeller led the overall automotive propeller shaft revenue, and is projected to grow at a CAGR of 7.3% during the forecast period.
Slip in tube propeller shaft segment is expected to grow at a remarkable CAGR of 8.5%, owing to the advantage such as help in crash energy management.
Passenger car segment is projected to generate the largest revenue in the world automotive axle & propeller shaft market.
Two wheeler segment is projected to grow at a CAGR of 6.7% during the analysis period.
China is the major shareholder accounting for about half share of the Asia-Pacific automotive axle & propeller shaft market.
The key players in the automotive axle & propeller shaft market are focused to expand their business operations in the fast-growing emerging countries with new product launches as a preferred strategy. The major players profiled in this report include American Axle & Manufacturing, Inc, ZF Friedrichshafen AG, Meritor, Inc., Dana Limited, SHOWA Corporation, IFA Rotorion, JTEKT Corporation, HYUNDAI DYMOS, GKN plc, Neapco Holdings LLC, CIE Automotive USA, Inc., Colfor Manufacturing, Inc., Dexter Axle Company, Fabco Automotive Corporation, NTK Precision Axle Corporation, Sypris Technologies, LLC, Westport Axle Corporation, and Magna International Inc.
- American Axle & Manufacturing Inc
- ZF Friedrichshafen AG
- Meritor Inc
- Dana Limited
- SHOWA Corporation
- IFA Rotorion
- JTEKT Corporation
- DYMOS GKN plc
- Neapco Holdings LLC
- CIE Automotive USA Inc
- Colfor Manufacturing Inc
- Dexter Axle Company
- Fabco Automotive Corporation
- NTK Precision
- Axle Corporation
- Sypris Technologies LLC
- Westport Axle Corporation
- Magna International Inc
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