Automotive Axle & Propeller Shaft Market worth $25.4 billion by 2025
                     MarketsandMarkets 
Presents
Automotive Axle & Propeller Shaft 
Market worth $25.4 billion by 2025
https://www.marketsandmarkets.com/Market-Reports/axle-propeller-
shaft-market-62590144.html
 
The report "Automotive Axle & Propeller Shaft Market by Axle Type 
(Live, Dead & Tandem), Axle Position (Front & Rear), Propeller Shaft 
Type (Single & Multi-Piece), Passenger Car Propeller Shaft Material 
(Alloy & Carbon Fiber) and Region - Global Forecast to 2025", The 
global automotive axle & propeller shaft market size is projected to grow at a 
CAGR of 3.2% during the forecast period, to reach a market size of USD 25.4 
billion by 2025 from USD 21.7 billion in 2020. 
Increasing production of heavy commercial vehicles, rising SUV demand, and 
growing adoption of AWD vehicles to get enhanced traction is expected to 
fuel the demand for Automotive Axle & Propeller Shaft Market.
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0144
 
Browse 190 market data Tables and 61 Figures spread through 218 
Pages and in-depth TOC on "Automotive Axle & Propeller Shaft 
Market”
Some of the key players in the automotive axle and propeller shaft market 
are ZF Friedrichshafen AG (Germany), Dana Incorporated (US), GKN 
Automotive (UK), American Axle & Manufacturing, Inc. (US), Meritor, Inc. 
(U.S.), Showa Corporation (Japan), Hyundai Wia Corporation (South Korea), 
JTEKT Corporation (Japan), and GKN plc (UK).
Single piece propeller is estimated to hold the largest share in 
automotive propeller shaft segment
Single-piece propeller shaft dominates the automotive propeller shaft market 
during the forecast period. The factors that drive the growth of this segment 
are cost-effectiveness as well as its overall durability. The single-piece 
propeller shaft is used more than the multi-piece propeller shaft majorly 
because of its lightweight capabilities that provide high fuel efficiency. The 
single-piece propeller shaft becomes an ideal choice for the shorter distance 
between the engine and the rear axle. The demand for the sport utility 
vehicle segment is rising mainly in the US, China, and India, owing to the 
improving economic environment, low crude oil prices, and rising per capita 
income. This will prompt the demand for rear-wheel-drive vehicles, which are 
usually installed with the single-piece shaft, and subsequently, the growth of 
SUVs would also foster the demand for single-piece propeller shaft in the 
future.
Tandem axle segment is anticipated to register the highest growth 
rate from 2020 to 2025
The tandem axle is expected to be the fastest-growing market for the 
automotive axle market by type from 2020 to 2025. According to OICA 
statistics, heavy commercial vehicle sales have increased from 23.0 million 
units in 2014 to 26.0 million units in 2019, at a CAGR of 3.26%. The growth 
can be attributed to factors such as increasing infrastructure spending, rising 
import-export trade, and growing e-commerce activities. 
Furthermore, the increasing goods trade has prompted the installation of the 
tandem axle, which offers additional load carrying capacity to the vehicle. 
The rising growth of good transport would fuel the demand for heavy-duty 
trucks and semi-trailers, which are usually installed with the tandem axle, 
which subor goods transport, which brings the necessity of tandem axle.
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590144
 
Asia Oceania is expected to have a major share in the automotive 
axle & propeller shaft market
The study estimates Asia Oceania as the largest consumer for the automotive 
axle & propeller shaft market during the forecast period. The region is the 
global leader in vehicle production, with production growth of about 26%–
28% over the past five years for passenger cars and commercial vehicles. 
China has been the leading automotive market for vehicle production as well 
as sales in this region. According to OICA, China, along with Japan and India, 
accounted for almost 40%-44% of global vehicle production in 2018.
Furthermore, as per the World Bank statistics, the per capita income in China 
and India increased by about 68% and 14%, respectively, from 2010 to 2015. 
The rise in disposable income is expected to increase the sales of economy, 
and premium vehicles, which, in turn, will drive the demand for axle and 
propeller shaft in the region.
Recent Developments:
• In February 2020, Dana Launched the production of the Spicer Electrified 
eS9000r e-Axle for class 4 and class 5 commercial vehicles in North 
America and is the only supplier to manufacture all components in a 
system such as an axle, motor, gear, and invertor.
• In January 2020, GKN Automotive and Delta Electronics Inc. announced 
their collaboration on the joint development that is expected to enable the 
rapid acceleration of next-generation integrated 3-in-1 eDrive systems of 
power classes from 80kW to 155kW. The joint development of advanced 
eDrive technology is expected to see inverters supplied by Delta 
Electronics Inc. integrated with GKN Automotive's eMotor and gearbox 
systems in a 3-in-1 solution.
• In May 2019, Meritor announced plans to acquire AxleTech for 
approximately USD 175 million. The addition of AxleTech will enhance 
Meritor’s growth platform, bringing a highly complementary global product 
portfolio across the off-highway, defense, specialty, and aftermarket 
segments. AxleTech’s offerings include a full product line of independent 
suspensions, axles, braking solutions, and drivetrain components. These 
capabilities will enable Meritor to offer global customers a more 
comprehensive array of differentiated products and solutions while further 
diversifying the company’s portfolio.
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