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Automotive Axle & Propeller Shaft - Global Market Trajectory & Analytics

  • ID: 4804435
  • Report
  • April 2021
  • Region: Global
  • 281 pages
  • Global Industry Analysts, Inc
Global Automotive Axle and Propeller Shaft Market to Reach $78.1 Billion by 2027

Amid the COVID-19 crisis, the global market for Automotive Axle and Propeller Shaft estimated at US$48.6 Billion in the year 2020, is projected to reach a revised size of US$78.1 Billion by 2027, growing at a CAGR of 7% over the analysis period 2020-2027. Live, one of the segments analyzed in the report, is projected to record a 7.6% CAGR and reach US$28.9 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Dead segment is readjusted to a revised 6.4% CAGR for the next 7-year period.

The U.S. Market is Estimated at $13.2 Billion, While China is Forecast to Grow at 10.7% CAGR

The Automotive Axle and Propeller Shaft market in the U.S. is estimated at US$13.2 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$17.2 Billion by the year 2027 trailing a CAGR of 10.7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 6.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR.

Tandem Axle Segment to Record 7% CAGR

In the global Tandem Axle segment, USA, Canada, Japan, China and Europe will drive the 6.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$8.7 Billion in the year 2020 will reach a projected size of US$13.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$10.7 Billion by the year 2027, while Latin America will expand at a 8.3% CAGR through the analysis period.

Select Competitors (Total 47 Featured):
  • American Axle & Manufacturing Inc.
  • Dana, Inc.
  • Gestamp Automocion S.A.
  • Hyundai WIA Corporation
  • IFA Holding GmbH
  • JTEKT Corporation
  • Meritor, Inc.
  • Rsb Group
  • Showa Corporation
  • ZF Friedrichshafen AG
Note: Product cover images may vary from those shown

  • Influencer Market Insights
  • World Market Trajectories
  • Asia Pacific Spearheads Market Expansion with Leading Automobile Production Hubs
  • A Key Demographic Driver of Consumerism, the Growing Middle Class Population in Asia Pacific Drives Demand for New Cars: Global Middle Class Population & Spending (In Million & US$ Billion) for the Years 2020, 2025, 2030
  • Percentage (In %) Breakdown of Automobile Production in Asia-Pacific by Country for the Year 2018
  • Impact of Covid-19 and a Looming Global Recession
  • STable Automobile Production Trends Shape Market Growth
  • Led by China, Steadily Expanding Global Vehicle Production Outlines Growth Trajectory for Automotive Axle & Propeller Shafts: Global Light Vehicle Production (In Million Units) by Geographic Region/Country for the Years 2017, 2019, 2022
  • Steady Global Production of Heavy Commercial Vehicles Boosts Demand for Automotive Axle
  • Robust Demand for Heavy Trucks in China Extends Opportunities for Automotive Tandem Axle in Heavy Commercial Vehicles Market: Heavy Trucks Production (In Units) in Asia Pacific Region by Country (2018)
  • With Multiple Live Axles Used in Commercial Vehicles, Rising Medium-Class Trucks Sales Driven by Growing e-Commerce Activities Benefits Market Growth: US Class 3-6 Truck Sales (In 1,000 Units) for the Years 2017, 2019 & 2021
  • Growing Focus on Lightweighting and Stringent Fuel Efficiency Norms Provide Lucrative Opportunities for Single Piece Propeller Shafts
  • Carbon Fiber Propeller Shafts Gain Traction in High End Variants
  • Expanding Use of Carbon Composites in Automotive Applications Provides Lucrative Market Opportunities for Carbon Fiber Propeller Shafts: Global Carbon Composites Demand (In Thousand Tons) in Automotive Industry for the Years 2017, 2019 & 2022
  • Shifting Consumer Preferences Builds Up Demand for Luxury Cars & SUVs, Driving Market Opportunities for Carbon Fiber Propeller Shafts: US Luxury Car Sales (In Units) by Leading Brands for the Year 2018
  • Emerging Demand for SUVs and All Wheel Drive (AWD) Vehicles Bodes Well for Live Axle and Single Piece Propeller Shaft Demand
  • Robust Outlook for SUV Sales to Benefit Growth in the Market: Global Sales of SUVs (In Million) for the Years 2015, 2017, 2019, 2021
  • Global AWD Vehicle Sales (In Million Units) for the Years 2017, 2020 & 2023
  • Rise of E-Mobility Pioneers Development of Electric Axles
  • Growing Demand for Electric Buses Driven by Strong Government Initiatives to Improve Public Transportation Networks Promises Market Opportunities for Electric Axles: Global Municipal Electric Buses Fleet (In Units) by Geographic Region/Country for the Years 2020, 2025 & 2030
  • Fluctuations in Raw Material Pricing Challenges Market Growth

  • Total Companies Profiled: 47
Note: Product cover images may vary from those shown