Increasing adoption of AWD vehicles, coupled with growth in global vehicle production as well as advancement in engineering to enhance vehicle performance and fuel efficiency is estimated to drive the market growth.
New York, Jan. 23, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Axle & Propeller Shaft Market by Axle Type, Axle Position, Propeller Shaft Type, Passenger Car Propeller Shaft Material and Region - Global Forecast to 2025" - https://www.reportlinker.com/p04764444/?utm_source=GNW
However, fluctuating raw material prices, as well as pricing pressure from automotive OEM’s, are expected to be major challenges for axle and propeller shaft manufacturers.
Carbon fiber propeller shaft is the fastest growing segment
Carbon fiber composites are being used in automotive components owing to their structural advantages over their metallic counterparts.These include lower weight and higher strength, which are of vital importance to the OEMs.
The carbon-fiber propeller shaft is fitted mostly in the SUVs provided premium vehicle manufacturers.Mercedes-Benz, BMW, and Audi are prominent car manufacturers in the premium segment and have registered significant growth in recent years in their vehicle sales.
According to a Mercedes-Benz publication, the company sold nearly 2.3 million cars globally in 2017 with sales growing by 9.9% year-on-year basis. Further, as per the BMW press release, the company’s sales grew by 4.2% between 2016 and 2017. Thus, the growth in premium vehicles sales is becoming an essential factor that will drive the carbon fiber propeller shaft market.
Live Axle is projected to lead the automotive axle market, by type, during the forecast period
Live axle is estimated to hold the largest share of the market during the forecast period between 2019 and 2025.Live axle drives the wheel connected to it along with supporting the weight of the car.
Increasing consumer preference towards SUVs and RWD passenger cars as well as consistent growth in overall vehicle production have triggered the growth of live axles’ market.The demand of RWD/AWD in the US, China, Japan, and European countries have shown significant growth in recent years, and the trend is expected to continue over the forecast period, thus, ultimately boosting the live axle demand for light-duty vehicles.
Additionally, the growth in the heavy vehicles, mainly in North America and Europe will propel the live axle demand in future.
Asia Oceania: The largest and second-fastest growing automotive axle & propeller shaft market
Asia Oceania is anticipated to be the fastest growing market for automotive axle & propeller shaft during the forecast period.The market growth can be attributed to the significant increase in the production of passenger cars and commercial vehicles in the region.
Further, with an increase in per capita income, China, Japan, and South Korea have witnessed a significant rise in premium vehicle sales and have emerged as lucrative markets for premium automotive OEMs.
As Asia Oceania contributes to a considerable share of the global bus and truck production, trucks and buses hold the maximum percentage of automotive axle & propeller shaft market in 2018.According to OICA statistics, the share of heavy trucks and buses in Asia Oceania was estimated to be 75% and 76%, respectively in 2018.
Increasing infrastructure spending, rising import-export trade, and growth of e-commerce have driven the growth of the Asia Oceania market.With rising heavy vehicle production, the demand for axle and propeller shaft is expected to grow significantly, which in turn would push foreign suppliers to extend their presence in this region.
These factors together are expected to drive the automotive axle & propeller shaft in the region.
BREAKDOWN OF PRIMARIES
The study contains insights provided by various industry experts, ranging from equipment manufacturers, OEMs, and Tier-1 suppliers to regional associations members. The break-up of the primaries is as follows:
• By Company Type: Tier-1– 59%, Tier-2– 26%, OEM– 15%,
• By Designation: C level– 70%, D Level– 20%, Others– 10%,
• By Region: Europe– 38%, Asia Oceania– 31%, North America– 21%, RoW– 10%
The report provides detailed profiles of the following companies:
• ZF (Germany)
• Dana (US)
• GKN (UK)
• Meritor (US)
• American Axle & Manufacturing (US)
• Showa (Japan)
• Hyundai WIA (South Korea)
• JTEKT (Japan)
• Gestamp (Spain)
• IFA (Germany)
The primary objective of the study is to define, describe, and forecast the automotive axle and propeller shaft market, by value and volume.The study segments the market by axle type (dead, live, and tandem), propeller shaft type (single piece and multi-piece), axle position (front and rear), passenger car propeller shaft by material (alloy and carbon fiber), and region (North America, Europe, Asia Oceania, and RoW).
The study tracks and analyzes competitive developments such as market share analysis, expansions, joint ventures, acquisitions, and other activities carried out by key industry participants.
Reasons for buying the report
• The study provides a qualitative and quantitative analysis of the automotive axle and propeller shaft market, in terms of volume (thousand units), and value (USD million) at country, and regional level
• The study provides a qualitative and quantitative analysis of the automotive axle and propeller shaft market, by volume and value, based on the axle type (dead, live, and tandem) at the regional level
• The study provides a qualitative and quantitative analysis of automotive axle and propeller shaft market, by volume, and value, based on the propeller shaft type (single piece and multipiece) at the regional level
• The study provides a qualitative and quantitative analysis of passenger car propeller shaft market, by volume and value, based on the material (alloy and carbon fiber) at the regional level
• The study provides a qualitative and quantitative analysis of the automotive axle and propeller shaft market, in terms of volume and value based on the axle position (front and rear) at the regional level
• The study provides a qualitative and quantitative analysis of volume and value of the market segments with respect to four regions namely – North America, Europe, Asia Oceania, and RoW
• The study includes the profiles of the key ten companies and additional ten companies, which have a significant impact on the market, along with their financial structure, recent developments, and product portfolio
• The report covers the competitive landscape, which reflects the market share analysis of leading players along with the dominant strategy adopted by these stakeholders to retain their position
Read the full report: https://www.reportlinker.com/p04764444/?utm_source=GNW
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