According to study, “Global Axle & Propeller Shaft Market Analysis 2013-2018 and Forecast 2019-2024” some of the key companies currently operating in the global axle & propeller shaft market areAmerican Axle & Manufacturing Holdings, AAL, GKN Plc, RSB Group, Dana Inc., Jtekt Corp., Showa Corp., NTN, Meritor Inc., GNA Enterprises, Nexteer Automotive, Gestamp, IFA Rotorian Holding GmbH, Talbros Engineering, Sona Group, Hyundai-Wia Corp., Bailey Morris limited, Wilson drive shafts, Korea Flange Co. Ltd. (KOFCO), Neapco Inc., ZF Friedrichshafen AG, AAM (American Axle & Manufacturing Holdings), CIE Automotive USA, Inc., Dexter Axle Company, Colfor Manufacturing, Inc., Fabco Automotive Corporation, Sypris Technologies, LLC, NTK Precision Axle Corporation, Westport Axle Corporation, Magna International Inc.
Axle & propeller shaft are the mechanical or automatic part which converts torque generated by vehicle’s engine used by the motive force to drive the vehicle. It is divided into front axle & propeller shaft and rear axle & propeller shaft. The classification of axle depends on the position & function of axle. The commercial vehicles for instance medium duty trucks, heavy trucks, and buses may assimilate more than two live axles depending on the relevance and role of the vehicle, while most of the passenger cars are incorporated with one live axle & one dead axle. Propeller shaft also called drive shaft is used to transfer torque from an engine to the discrepancy of the vehicle.
Based on type, global axle market is segmented into live axle, dead axle and tandem axle. Based on position, market is defined as front axle and rear axle. Based on type, propeller shaft market is segmented into single piece propeller shaft, multi piece propeller shaft and slip in tube. Based on the position, this market is segmented into rear propeller shaft, front propeller shaft and inter-axle propeller shaft. Based on material, market is divided into carbon fiber propeller shaft and alloy propeller shaft. Based on vehicle type, market is segmented into passenger cars, two wheeler vehicle and commercial vehicle. The passenger car segment is expected to maintain its prevailing position owing to increase in number of HEV, BEV, and conventional fuel cars. In addition, a two-wheeler segment is also expected to witness the high growth rate due to increase in number of electric & conventional two wheelers in developing economies, like China, Brazil and India.
The global axle & propeller shaft is primarily driven by growth in vehicle production, followed by changing end user preference and technological advancements. Apart from benefits, some of the hindering factors include pricing pressure & fluctuating prices of raw materials, weight & cost reduction and vehicle recall & regulatory concerns. In the new opportunities include growing market for All Wheel Drive (AWD) vehicles, ongoing trend for e-mobility and growing demand for aluminum propeller shaft.
The global axle & propeller shaft market is driven by China & India with the sustainable necessities for the aftermarket elements, emergent sale of heavy commercial motor vehicles in these regions is expected to boost revenue of the market. In addition, the commercial vehicle segment is projected to witness the robust growth in the North American region as an account of increase in public transport infrastructure during the forecast period.
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Ankur Gupta, Head Marketing & Communications