Light Commercial Vehicles Axle & Propeller Shaft Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Axle Type (Live, Dead, Tandem), By Propeller Shaft Type (Single Piece, Multi Piece), By Demand Category (OEM, Aftermarket) By Region, By Competition, 2018-2028

  • Industry : Automotive
  • Pages : NA
  • Published Date : NA
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Summary

Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 6 billion

CAGR (2023-2028)

6.69%

Fastest Growing Segment

Tandem

Largest Market

Asia-Pacific

Market Overview

Global Light Commercial Vehicles Axle & Propeller Shaft Market has valued at USD 6 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 6.69% through 2028. The operation of a vehicle is significantly influenced by the axles and propeller shafts of the vehicle. Live axles also execute the extra responsibility of supplying the torque to the wheels in addition to bearing the entire weight of the vehicle, cargo, and passengers on the axles. Along with the other elements of the drive train, a propeller shaft's job is to deliver torque and rotation. The growing worldwide vehicle production as well as engineering advancements that are geared toward sustainability and fuel efficiency are major market drivers for axles and propeller shafts. The booming aftermarket demand for automobile axles and propellers in developing nations is a key driver of this market's expansion. Some of the factors driving the growth of the axle & propeller shaft market include an increase in vehicle production and sales across the globe, a rise in the adoption of electric vehicles, higher aftermarket demand for axle & propeller shaft from emerging economies, and a surge in demand for comfortable & fuel-efficient vehicles. However, the market's expansion is anticipated to be hampered by fluctuating raw material prices, vehicle recalls, and regulatory issues. During the projection period, it is also anticipated that the rising demand for all-wheel drive cars and the increased usage of lightweight materials in the production of axle and propeller shafts would create growth possibilities.

Key Market Drivers

Global Expansion of E-Commerce and Last-Mile Delivery

The exponential growth of e-commerce and the increased demand for last-mile delivery services are driving the Global Automotive Light Commercial Vehicle Axle & Propeller Market. The surge in online shopping, accelerated by the COVID-19 pandemic, has created a need for more efficient and versatile delivery vehicles. The growth of e-commerce platforms has resulted in higher package delivery volumes. To meet customer expectations for quick and reliable delivery, logistics companies are expanding their light commercial vehicle fleets. Light commercial vehicles are crucial for last-mile delivery, which involves transporting goods from distribution centers to customers' doorsteps. These vehicles require robust axle and propeller systems that can withstand frequent starts, stops, and maneuvering. Manufacturers are increasingly offering customized axle and propeller solutions tailored to the specific needs of delivery vehicles. This customization includes optimizing load-bearing capacities, improving fuel efficiency, and enhancing durability for high-mileage operations.

Emission Regulations and Environmental Concerns

Stringent emissions regulations and environmental concerns are compelling the automotive industry to adopt cleaner and more fuel-efficient technologies. Light commercial vehicles are no exception, and this drive toward sustainability is influencing axle and propeller system development. Governments worldwide are imposing strict emissions standards to combat climate change and reduce air pollution. Light commercial vehicles are being targeted to lower their carbon footprint, driving the adoption of cleaner technologies. The shift toward hybrid and electric light commercial vehicles is growing. Axle and propeller systems in these vehicles play a vital role in optimizing power distribution and energy management, contributing to reduced emissions. Lightweight materials in axle and propeller systems help reduce the overall weight of vehicles, enhancing fuel efficiency and decreasing emissions. Composite materials, advanced alloys, and efficient design are key drivers in this regard.

Urbanization and Congestion Challenges

The global trend toward urbanization is leading to increased traffic congestion in cities. Light commercial vehicles, often used for urban deliveries, require agile and efficient axle and propeller systems to navigate congested roads. Rapid urbanization is accompanied by a growing demand for goods and services in cities. Light commercial vehicles are essential for fulfilling this demand, emphasizing the need for reliable drivetrain components. Light commercial vehicles need to maneuver through tight spaces, congested streets, and urban environments. Their axle and propeller systems must provide precise control and responsiveness to ensure safe and efficient operation. To address urban congestion and emissions concerns, some light commercial vehicles are adopting alternative drivetrain technologies such as electric powertrains and hydrogen fuel cells. Axle and propeller systems must adapt to the unique requirements of these technologies.

Safety and Driver Assistance Systems

Safety remains a paramount concern in the automotive industry. Light commercial vehicles often operate in challenging conditions, and the integration of advanced safety and driver assistance systems is a significant driver for axle and propeller system development. Axle and propeller systems contribute to the effectiveness of ESC systems, which help maintain vehicle stability and prevent rollovers. The market is seeing increased demand for ESC-compatible components. ABS relies on precise control of wheel speed, a function that is closely tied to axle and propeller systems. Manufacturers are continuously enhancing the compatibility of these systems with ABS to improve vehicle safety. Light commercial vehicles are increasingly equipped with ADAS features like adaptive cruise control, lane-keeping assist, and collision avoidance systems. Axle and propeller systems play a crucial role in supporting these systems by providing data on vehicle dynamics and wheel speed.

Increased Payload Capacities

The demand for increased payload capacities in light commercial vehicles is another significant driver of axle and propeller system development. Industries such as construction, logistics, and agriculture rely on these vehicles to transport heavy loads efficiently. Axle and propeller systems must be engineered to handle higher payload capacities while maintaining efficiency. Enhanced load-bearing capabilities are crucial for the successful operation of these vehicles. Light commercial vehicles with higher payload capacities can transport more goods in a single trip, improving commercial efficiency and reducing transportation costs. This efficiency is a key factor driving market demand. The integration of axle and propeller systems with advanced suspension systems is essential for ensuring optimal weight distribution, ride comfort, and handling when carrying heavy loads.

 

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Key Market Challenges

Regulatory Compliance and Emissions Standards

One of the most prominent challenges facing the Global Automotive Light Commercial Vehicle Axle & Propeller Market is the ever-increasing stringency of emissions regulations worldwide. Governments are imposing strict limits on vehicle emissions to combat air pollution and climate change. Light commercial vehicles are no exception, and they must adhere to these regulations to operate legally. Meeting these stringent emissions standards necessitates the incorporation of emission reduction technologies into the vehicle's powertrain, including the axle and propeller system. These technologies can add complexity and cost to the manufacturing process. As the market explores alternative fuels such as compressed natural gas (CNG) and hydrogen, axle and propeller systems must be adaptable to these technologies, posing additional challenges in terms of design and integration.

Integration of Advanced Technologies

The integration of advanced technologies, such as electronic stability control (ESC), anti-lock braking systems (ABS), and advanced driver assistance systems (ADAS), poses a significant challenge. These systems rely heavily on data from the axle and propeller systems, requiring precise coordination and compatibility. To support safety and performance-enhancing technologies, axle and propeller systems need to incorporate various sensors. These sensors can add complexity to the design, making it challenging to maintain reliability and durability. The growing adoption of electric and hybrid light commercial vehicles introduces the need for axle and propeller systems that can efficiently transmit power from electric motors. These systems must be designed to accommodate the unique characteristics of electric propulsion.

Durability and Reliability

Light commercial vehicles often operate in demanding conditions, such as frequent starts and stops, off-road terrain, and heavy payloads. Axle and propeller systems must withstand these conditions while maintaining reliability. High maintenance costs can be a deterrent for fleet operators. The challenge lies in designing axle and propeller systems that require minimal maintenance while still meeting durability expectations. Maintaining consistent quality across manufacturing batches is essential. Even minor variations in component quality can lead to reliability issues, which can be costly to address through recalls or repairs.

Weight and Fuel Efficiency

Balancing Weight and Strength: Achieving the ideal balance between weight reduction and structural strength is a significant challenge. While lightweight materials can improve fuel efficiency, they must not compromise the durability and load-bearing capacity of axle and propeller components. Light commercial vehicles are expected to deliver fuel economy without sacrificing performance or payload capacity. This challenge drives manufacturers to develop axle and propeller systems that minimize energy losses during power transmission. As electric and hybrid vehicles gain popularity in this segment, optimizing the efficiency of axle and propeller systems for these drivetrains becomes crucial. These systems must efficiently transmit power from electric motors while minimizing energy losses.

Customization and Adaptation

The light commercial vehicle segment comprises a wide range of vehicle types, from vans and pickups to delivery trucks and minibuses. Each vehicle type has unique requirements for axle and propeller systems, demanding customization and adaptation. Light commercial vehicles are used for a wide variety of purposes, each with its own payload requirements. Designing systems that accommodate these varying capacities while maintaining efficiency and safety is a complex challenge. The global nature of the market means that vehicles must perform in diverse environments and climates. Axle and propeller systems must be adaptable to these conditions, including extreme temperatures, rugged terrains, and varying road conditions.

Key Market Trends

Electrification and Hybridization of Light Commercial Vehicles

The trend toward electrification and hybridization of light commercial vehicles (LCVs) is one of the most transformative forces in the automotive industry, significantly impacting the design, development, and adoption of axle and propeller systems. The adoption of electric powertrains in LCVs has accelerated, driven by environmental concerns and the need for urban-friendly vehicles. Axle and propeller systems in electric LCVs are designed to efficiently transmit power from electric motors to the wheels, emphasizing lightweight and high-efficiency designs. Hybrid LCVs, which combine internal combustion engines with electric propulsion, are becoming more prevalent. Axle and propeller systems in hybrid vehicles play a critical role in power distribution between the engine and electric motor, optimizing fuel efficiency and enhancing overall performance. As the electric LCV market grows, the availability and accessibility of charging infrastructure become essential. Axle and propeller systems must support the varying energy demands and regenerative braking characteristics of electric drivetrains.

Urbanization and Last-Mile Delivery Demand

The rapid pace of urbanization and the surge in e-commerce have led to an increased demand for LCVs for last-mile delivery. This trend is influencing the design and capabilities of axle and propeller systems. As cities become more crowded, LCVs must navigate through congested streets and make frequent stops. Axle and propeller systems need to provide precise control, agility, and durability to meet the demands of urban delivery operations. The rise of e-commerce, further accelerated by the COVID-19 pandemic, has increased the volume of deliveries, requiring efficient LCVs. Axle and propeller systems are crucial in ensuring the reliability and performance of delivery vehicles. Customization for Delivery: Manufacturers are developing axle and propeller solutions customized for delivery vehicles, with a focus on optimizing load-bearing capacities, reducing wear and tear, and improving fuel efficiency for high-mileage urban operations.

Lightweight Materials and Fuel Efficiency

The push for fuel efficiency and reduced emissions is driving the adoption of lightweight materials and innovative design approaches in axle and propeller systems for LCVs. Lightweight materials such as high-strength steel alloys, aluminum, and composite materials are being increasingly used in the construction of axle and propeller components. These materials offer the strength and durability required while reducing weight, contributing to improved fuel efficiency. Lightweight design principles are crucial for improving the overall efficiency of LCVs. Reduced weight means less energy is required to propel the vehicle, resulting in improved fuel economy. Advanced materials and efficient design also reduce rolling resistance and energy losses in the drivetrain. Achieving lightweight construction while maintaining load-bearing capacities is a challenge. Axle and propeller systems must be engineered to balance weight reduction with the ability to handle the demands of varying payloads.

Integration of Advanced Electronics and Safety Features

The integration of advanced electronics and safety features in LCVs is transforming axle and propeller systems into intelligent components that enhance vehicle performance, safety, and efficiency. Axle and propeller systems increasingly incorporate electronic sensors that monitor parameters such as wheel speed, torque distribution, and wheel slip. This data is essential for optimizing vehicle stability, traction control, and performance. Axle and propeller systems play a vital role in vehicle stability and safety. They are involved in functions such as stability control, anti-lock braking, and traction control. The integration of electronic sensors and advanced control algorithms enhances the safety features of these systems. LCVs are now equipped with ADAS features like adaptive cruise control, lane-keeping assist, and collision avoidance systems. Axle and propeller systems provide critical data for these systems, improving vehicle safety and driver assistance capabilities.

Customization for Diverse Applications

The diverse range of applications for LCVs, from cargo vans to passenger shuttles, requires customization and adaptability in axle and propeller system design. LCVs used for cargo transport require axle and propeller systems optimized for load-bearing capacity, durability, and fuel efficiency. Customization for different cargo types and sizes is essential. LCVs used for passenger transport, such as minibuses and shuttle services, require comfortable and stable axle and propeller systems that prioritize passenger safety and comfort. Some LCVs are designed for off-road or specialty applications, such as construction or utility vehicles. These vehicles demand robust axle and propeller systems capable of handling rough terrain and heavy loads.

Segmental Insights

Axle Type Analysis

When compared to tandem and dead axles, the live axle category is expected to have the largest market. The live axle market would grow as vehicle performance was improved and more torque was delivered. The market would be driven by increasing vehicle production as well as engineering developments to meet the shifting consumer needs. The efficient arrangement of bearings and novel designs for axle components that make optimal use of gear locations are expected to help reduce axle weight and increase vehicle efficiency. Consequently, it is anticipated that the live axle industry will expand during the upcoming years.

Propeller Shaft Type Analysis

During the projection period, the single piece market is anticipated to be the largest for propeller shafts. Due to advantages like reduced mechanical and frictional losses and shorter distances between the engine and the rear axle, the single-piece propeller shaft is typically favored in light-duty vehicles. Additionally, compared to multi-piece shafts, these single-piece shafts deliver effective performance at a faster speed. The single-piece propeller shaft holds the biggest share during the predicted period as a result of these considerations. This kind of propeller shaft is made from traditional materials such steel SM45C, stainless steel, and composite materials like HS carbon epoxy, e-glass polyester, and Kevlar epoxy.


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Regional Insights

Due to rising light Vehicle production and steady demand for aftermarket parts, Asia Pacific is anticipated to experience the greatest growth rate over the projected period. Drive shafts and other axle-related components of the powertrain are becoming more and more necessary because of the region's thriving automobile industry. China is expected to produce tremendous demand for axle and propeller shafts as one of the market's top consumers.  A few of the elements predicted to have a positive influence on the growth of the car market and the promotion of its production include rising infrastructure development spending in India and other emerging nations, as well as changing regulations for vehicle emissions. This is expected to enhance local demand for vehicle components like drive shafts.

The second largest and most established market for automobile axles and propeller shafts is thought to be Europe, and it is expected to continue to grow steadily over the coming years. Strict fuel-economy regulations are predicted to be the main development driver, motivating businesses to engage in R&D to create lightweight vehicle solutions. The need for axle and propeller shafts is thought to be driven by the strong demand for vehicles in Germany, the UK, and France in comparison to other nations, as well as the increase in premium vehicle sales. A greater quality of axles and propellers would be in more demand as end consumers' preferences for comfort in cars grow.

Recent Developments

  • The Spicer Electrified e$9000r e-Axle for class 4 and class 5 commercial vehicles was introduced by Dana in February 2020. Dana is the only supplier to manufacture an axle, motor, gearbox, and invertor, among other system components.
  • The collaboration between GKN and Delta Electronics Inc. on the collaborative development, which is anticipated to enable the quick acceleration of next-generation integrated 3-in-1 eDrive systems with power classes ranging from 80KW to 155KW, was announced in January 2020. Inverters from Delta Electronics Inc. are anticipated to be combined with the eMotor and gearbox systems from GKN as part of the joint development of sophisticated eDrive technology to provide a 3-in-1 solution.
  • The transfer of Toyota's ownership of Yutaka Seimitsu Kogyo, Ltd. (Yutaka Seimitsu) shares pertaining to drive components to JTEKT Corporation was announced in July 2019 by JTEKT Corporation and Toyota Motor Corporation. This is anticipated to further boost the driveline operations of JTEKT Corp. and Toyota Corp.'s competitiveness.
  • In February 2020, Gestamp created a lightweight chassis that complies with safety standards and is anticipated to be used starting in 2021 in India by Skoda and Volkswagen. Both German OEM vehicle types are anticipated to receive their subframe and front control arms from Gestamp.
  • Ram 2500 Heavy Duty, Ram 3500 Heavy Duty, Ram 3500 Chassis Cab, Ram 4500 Chassis Cab, and Ram 5500 Chassis Cab trucks can now get both front and rear axles and driveshafts from Axle Manufacturing (AAM), which announced the expansion of the driveline segment for RAM heavy duty trucks in December 2019.

Key Market Players

  • Dana Corporation
  • IFA Rotorion
  • Meritor Inc.
  • Korea Flange Co. Ltd. (KOFCO)
  • ZF Friedrichshafen AG
  • Showa Corporation
  • JTEKT Corporation
  • GKN-Walterscheid GmbH
  • American Axle & Manufacturing, Inc.
  • Gelenkwellen-Service GmbH

 
By Axle Type

By Propeller Shaft Type

By Demand Category

By Region
  • Live
  • Dead
  • Tandem
  • Single Piece
  • Multi Piece
  • OEM
  • Aftermarket
  • North America
  • Europe & CIS
  • Asia Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the Global Light Commercial Vehicles Axle & Propeller Shaft Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Light Commercial Vehicles Axle & Propeller Shaft Market, By Axle Type:

o   Live

o   Dead

o   Tandem

  • Light Commercial Vehicles Axle & Propeller Shaft Market, By Propeller Shaft:

o   Single Piece

o   Multi Piece

  • Light Commercial Vehicles Axle & Propeller Shaft Market, By Demand Category:

o   OEM

o   Aftermarket

  • Light Commercial Vehicles Axle & Propeller Shaft Market, By Region:

o   Asia-Pacific

§  China

§  India

§  Japan

§  Indonesia

§  Thailand

§  South Korea

§  Australia

o   Europe & CIS

§  Germany

§  Spain

§  France

§  Russia

§  Italy

§  United Kingdom

§  Belgium

o   North America

§  United States

§  Canada

§  Mexico

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Turkey

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Light Commercial Vehicles Axle & Propeller Shaft Market.

Available Customizations:

Global Light Commercial Vehicles Axle & Propeller Shaft market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Light Commercial Vehicles Axle & Propeller Shaft Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Impact of COVID-19 on Global Light Commercial Vehicles Axle & Propeller Shaft Market

5.    Global Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value & Volume & Volume

5.2.  Market Share & Forecast

5.2.1.    By Axle Type Market Share Analysis (Live, Dead, Tandem)

5.2.2.    By Propeller Shaft Type Market Share Analysis (Single Piece, Multi Piece)

5.2.3.    By Demand Category Market Share Analysis (OEM, Aftermarket)

5.2.4.    By Regional Market Share Analysis

5.2.4.1.        Asia-Pacific Market Share Analysis

5.2.4.2.        Europe & CIS Market Share Analysis

5.2.4.3.        North America Market Share Analysis

5.2.4.4.        South America Market Share Analysis

5.2.4.5.        Middle East & Africa Market Share Analysis

5.2.5.    By Company Market Share Analysis (Top 5 Companies, Others - By Value & Volume & Volume, 2022)

5.3.  Global Light Commercial Vehicles Axle & Propeller Shaft Market Mapping & Opportunity Assessment

5.3.1.    By Axle Type Market Mapping & Opportunity Assessment

5.3.2.    By Propeller Shaft Type Market Mapping & Opportunity Assessment

5.3.3.    By Demand Category Market Mapping & Opportunity Assessment

5.3.4.    By Regional Market Mapping & Opportunity Assessment

6.    Asia-Pacific Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value & Volume

6.2.  Market Share & Forecast

6.2.1.    By Axle Type Market Share Analysis

6.2.2.    By Propeller Shaft Type Market Share Analysis

6.2.3.    By Demand Category Market Share Analysis

6.2.4.    By Country Market Share Analysis

6.2.4.1.        China Market Share Analysis

6.2.4.2.        India Market Share Analysis

6.2.4.3.        Japan Market Share Analysis

6.2.4.4.        Indonesia Market Share Analysis

6.2.4.5.        Thailand Market Share Analysis

6.2.4.6.        South Korea Market Share Analysis

6.2.4.7.        Australia Market Share Analysis

6.2.4.8.        Rest of Asia-Pacific Market Share Analysis

6.3.  Asia-Pacific: Country Analysis

6.3.1.    China Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.           By Value & Volume

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.           By Axle Type Market Share Analysis

6.3.1.2.2.           By Propeller Shaft Type Market Share Analysis

6.3.1.2.3.           By Demand Category Market Share Analysis

6.3.2.    India Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.           By Value & Volume

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.           By Axle Type Market Share Analysis

6.3.2.2.2.           By Propeller Shaft Type Market Share Analysis

6.3.2.2.3.           By Demand Category Market Share Analysis

6.3.3.    Japan Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.           By Value & Volume

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.           By Axle Type Market Share Analysis

6.3.3.2.2.           By Propeller Shaft Type Market Share Analysis

6.3.3.2.3.           By Demand Category Market Share Analysis

6.3.4.    Indonesia Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

6.3.4.1.        Market Size & Forecast

6.3.4.1.1.           By Value & Volume

6.3.4.2.        Market Share & Forecast

6.3.4.2.1.           By Axle Type Market Share Analysis

6.3.4.2.2.           By Demand Category Market Share Analysis

6.3.5.    Thailand Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

6.3.5.1.        Market Size & Forecast

6.3.5.1.1.           By Value & Volume

6.3.5.2.        Market Share & Forecast

6.3.5.2.1.           By Axle Type Market Share Analysis

6.3.5.2.2.           By Propeller Shaft Type Market Share Analysis

6.3.5.2.3.           By Demand Category Market Share Analysis

6.3.6.    South Korea Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

6.3.6.1.        Market Size & Forecast

6.3.6.1.1.           By Value & Volume

6.3.6.2.        Market Share & Forecast

6.3.6.2.1.           By Axle Type Market Share Analysis

6.3.6.2.2.           By Propeller Shaft Type Market Share Analysis

6.3.6.2.3.           By Demand Category Market Share Analysis

6.3.7.    Australia Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

6.3.7.1.        Market Size & Forecast

6.3.7.1.1.           By Value & Volume

6.3.7.2.        Market Share & Forecast

6.3.7.2.1.           By Axle Type Market Share Analysis

6.3.7.2.2.           By Propeller Shaft Type Market Share Analysis

6.3.7.2.3.           By Demand Category Market Share Analysis

7.    Europe & CIS Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value & Volume

7.2.  Market Share & Forecast

7.2.1.    By Axle Type Market Share Analysis

7.2.2.    By Propeller Shaft Type Market Share Analysis

7.2.3.    By Demand Category Market Share Analysis

7.2.4.    By Country Market Share Analysis

7.2.4.1.        Germany Market Share Analysis

7.2.4.2.        Spain Market Share Analysis

7.2.4.3.        France Market Share Analysis

7.2.4.4.        Russia Market Share Analysis

7.2.4.5.        Italy Market Share Analysis

7.2.4.6.        United Kingdom Market Share Analysis

7.2.4.7.        Belgium Market Share Analysis

7.2.4.8.        Rest of Europe & CIS Market Share Analysis

7.3.  Europe & CIS: Country Analysis

7.3.1.    Germany Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value & Volume

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Axle Type Market Share Analysis

7.3.1.2.2.           By Propeller Shaft Type Market Share Analysis

7.3.1.2.3.           By Demand Category Market Share Analysis

7.3.2.    Spain Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value & Volume

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Axle Type Market Share Analysis

7.3.2.2.2.           By Propeller Shaft Type Market Share Analysis

7.3.2.2.3.           By Demand Category Market Share Analysis

7.3.3.    France Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value & Volume

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By Axle Type Market Share Analysis

7.3.3.2.2.           By Propeller Shaft Type Market Share Analysis

7.3.3.2.3.           By Demand Category Market Share Analysis

7.3.4.    Russia Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.           By Value & Volume

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.           By Axle Type Market Share Analysis

7.3.4.2.2.           By Propeller Shaft Type Market Share Analysis

7.3.4.2.3.           By Demand Category Market Share Analysis

7.3.5.    Italy Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.           By Value & Volume

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.           By Axle Type Market Share Analysis

7.3.5.2.2.           By Propeller Shaft Type Market Share Analysis

7.3.5.2.3.           By Demand Category Market Share Analysis

7.3.6.    United Kingdom Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

7.3.6.1.        Market Size & Forecast

7.3.6.1.1.           By Value & Volume

7.3.6.2.        Market Share & Forecast

7.3.6.2.1.           By Axle Type Market Share Analysis

7.3.6.2.2.           By Propeller Shaft Type Market Share Analysis

7.3.6.2.3.           By Demand Category Market Share Analysis

7.3.7.    Belgium Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

7.3.7.1.        Market Size & Forecast

7.3.7.1.1.           By Value & Volume

7.3.7.2.        Market Share & Forecast

7.3.7.2.1.           By Axle Type Market Share Analysis

7.3.7.2.2.           By Propeller Shaft Type Market Share Analysis

7.3.7.2.3.           By Demand Category Market Share Analysis

8.    North America Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value & Volume

8.2.  Market Share & Forecast

8.2.1.    By Axle Type Market Share Analysis

8.2.2.    By Propeller Shaft Type Market Share Analysis

8.2.3.    By Demand Category Market Share Analysis

8.2.4.    By Country Market Share Analysis

8.2.4.1.        United States Market Share Analysis

8.2.4.2.        Mexico Market Share Analysis

8.2.4.3.        Canada Market Share Analysis

8.3.  North America: Country Analysis

8.3.1.    United States Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value & Volume

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Axle Type Market Share Analysis

8.3.1.2.2.           By Propeller Shaft Type Market Share Analysis

8.3.1.2.3.           By Demand Category Market Share Analysis

8.3.2.    Mexico Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value & Volume

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Axle Type Market Share Analysis

8.3.2.2.2.           By Propeller Shaft Type Market Share Analysis

8.3.2.2.3.           By Demand Category Market Share Analysis

8.3.3.    Canada Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value & Volume

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Axle Type Market Share Analysis

8.3.3.2.2.           By Propeller Shaft Type Market Share Analysis

8.3.3.2.3.           By Demand Category Market Share Analysis

9.    South America Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value & Volume

9.2.  Market Share & Forecast

9.2.1.    By Axle Type Market Share Analysis

9.2.2.    By Propeller Shaft Type Market Share Analysis

9.2.3.    By Demand Category Market Share Analysis

9.2.4.    By Country Market Share Analysis

9.2.4.1.        Brazil Market Share Analysis

9.2.4.2.        Argentina Market Share Analysis

9.2.4.3.        Colombia Market Share Analysis

9.2.4.4.        Rest of South America Market Share Analysis

9.3.  South America: Country Analysis

9.3.1.    Brazil Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value & Volume

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Axle Type Market Share Analysis

9.3.1.2.2.           By Propeller Shaft Type Market Share Analysis

9.3.1.2.3.           By Demand Category Market Share Analysis

9.3.2.    Colombia Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value & Volume

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Axle Type Market Share Analysis

9.3.2.2.2.           By Propeller Shaft Type Market Share Analysis

9.3.2.2.3.           By Demand Category Market Share Analysis

9.3.3.    Argentina Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value & Volume

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Axle Type Market Share Analysis

9.3.3.2.2.           By Propeller Shaft Type Market Share Analysis

9.3.3.2.3.           By Demand Category Market Share Analysis

10. Middle East & Africa Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

10.1.            Market Size & Forecast

10.1.1. By Value & Volume  

10.2.            Market Share & Forecast

10.2.1. By Axle Type Market Share Analysis

10.2.2. By Propeller Shaft Type Market Share Analysis

10.2.3. By Demand Category Market Share Analysis

10.2.4. By Country Market Share Analysis

10.2.4.1.     South Africa Market Share Analysis

10.2.4.2.     Turkey Market Share Analysis

10.2.4.3.     Saudi Arabia Market Share Analysis

10.2.4.4.     UAE Market Share Analysis

10.2.4.5.     Rest of Middle East & Africa Market Share Africa

10.3.            Middle East & Africa: Country Analysis

10.3.1. South Africa Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value & Volume

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Axle Type Market Share Analysis

10.3.1.2.2.         By Propeller Shaft Type Market Share Analysis

10.3.1.2.3.         By Demand Category Market Share Analysis

10.3.2. Turkey Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value & Volume

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Axle Type Market Share Analysis

10.3.2.2.2.         By Propeller Shaft Type Market Share Analysis

10.3.2.2.3.         By Demand Category Market Share Analysis

10.3.3. Saudi Arabia Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value & Volume

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Axle Type Market Share Analysis

10.3.3.2.2.         By Propeller Shaft Type Market Share Analysis

10.3.3.2.3.         By Demand Category Market Share Analysis

10.3.4. UAE Light Commercial Vehicles Axle & Propeller Shaft Market Outlook

10.3.4.1.     Market Size & Forecast

10.3.4.1.1.         By Value & Volume

10.3.4.2.     Market Share & Forecast

10.3.4.2.1.         By Axle Type Market Share Analysis

10.3.4.2.2.         By Propeller Shaft Type Market Share Analysis

10.3.4.2.3.         By Demand Category Market Share Analysis

11. SWOT Analysis

11.1.            Strength

11.2.            Weakness

11.3.            Opportunities

11.4.            Threats

12. Market Dynamics

12.1.            Market Drivers

12.2.            Market Challenges

13. Market Trends and Developments

14. Competitive Landscape

14.1.            Company Profiles (Up to 10 Major Companies)

14.1.1. Dana Corporation

14.1.1.1.     Company Details

14.1.1.2.     Key Product Offered

14.1.1.3.     Financials (As Per Availability)

14.1.1.4.     Recent Developments

14.1.1.5.     Key Management Personnel

14.1.2. IFA Rotorion

14.1.2.1.     Company Details

14.1.2.2.     Key Product Offered

14.1.2.3.     Financials (As Per Availability)

14.1.2.4.     Recent Developments

14.1.2.5.     Key Management Personnel

14.1.3. Meritor Inc.

14.1.3.1.     Company Details

14.1.3.2.     Key Product Offered

14.1.3.3.     Financials (As Per Availability)

14.1.3.4.     Recent Developments

14.1.3.5.     Key Management Personnel

14.1.4. Korea Flange Co. Ltd. (KOFCO)

14.1.4.1.     Company Details

14.1.4.2.     Key Product Offered

14.1.4.3.     Financials (As Per Availability)

14.1.4.4.     Recent Developments

14.1.4.5.     Key Management Personnel

14.1.5. ZF Friedrichshafen AG

14.1.5.1.     Company Details

14.1.5.2.     Key Product Offered

14.1.5.3.     Financials (As Per Availability)

14.1.5.4.     Recent Developments

14.1.5.5.     Key Management Personnel

14.1.6. Showa Corporation

14.1.6.1.     Company Details

14.1.6.2.     Key Product Offered

14.1.6.3.     Financials (As Per Availability)

14.1.6.4.     Recent Developments

14.1.6.5.     Key Management Personnel

14.1.7. JTEKT Corporation

14.1.7.1.     Company Details

14.1.7.2.     Key Product Offered

14.1.7.3.     Financials (As Per Availability)

14.1.7.4.     Recent Developments

14.1.7.5.     Key Management Personnel

14.1.8. GKN-Walterscheid GmbH

14.1.8.1.     Company Details

14.1.8.2.     Key Product Offered

14.1.8.3.     Financials (As Per Availability)

14.1.8.4.     Recent Developments

14.1.8.5.     Key Management Personnel

14.1.9. American Axle & Manufacturing, Inc.

14.1.9.1.     Company Details

14.1.9.2.     Key Product Offered

14.1.9.3.     Financials (As Per Availability)

14.1.9.4.     Recent Developments

14.1.9.5.     Key Management Personnel

14.1.10.              Gelenkwellen-Service GmbH

14.1.10.1.  Company Details

14.1.10.2.  Key Product Offered

14.1.10.3.  Financials (As Per Availability)

14.1.10.4.  Recent Developments

14.1.10.5.  Key Management Personnel

15. Strategic Recommendations

15.1.            Key Focus Areas

15.1.1. Target Regions

15.1.2. Target Axle Type

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Figures and Tables

Frequently asked questions

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The market size of the Global Light Commercial Vehicles Axle & Propeller Shaft Market was estimated to be USD 6 billion in 2022.

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When compared to tandem and dead axles, the live axle category is expected to have the largest market. The live axle market would grow as vehicle performance was improved and more torque was delivered. The market would be driven by increasing vehicle production as well as engineering developments to meet the shifting consumer needs. The efficient arrangement of bearings and novel designs for axle components that make optimal use of gear locations are expected to help reduce axle weight and increase vehicle efficiency. Consequently, it is anticipated that the live axle industry will expand during the upcoming years.

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Due to rising passenger car production and steady demand for aftermarket parts, Asia Pacific is anticipated to experience the greatest growth rate over the projected period. Drive shafts and other axle-related components of the powertrain are becoming more and more necessary because of the region's thriving automobile industry. China is expected to produce tremendous demand for axle and propeller shafts as one of the market's top consumers. A few of the elements predicted to have a positive influence on the growth of the car market and the promotion of its production include rising infrastructure development spending in India and other emerging nations, as well as changing regulations for vehicle emissions. This is expected to enhance local demand for vehicle components like drive shafts.

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Global Expansion of E-Commerce and Last-Mile Delivery, Safety and Driver Assistance Systems, Increased Payload Capacities and Emission Regulations and Environmental Concerns are the major drivers for the Global Light Commercial Vehicles Axle & Propeller Shaft Market.

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Srishti Verma

Business Consultant
Press Release

Light Commercial Vehicles Axle & Propeller Shaft Market to Grow with a CAGR of 6.69% Globally through to 2028

Oct, 2023

Global Expansion of E-Commerce and Last-Mile Delivery, Safety and Driver Assistance Systems, Increased Payload Capacities and Emission Regulations and Environmental Concerns are factors driving the G

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