Passenger Cars 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 16 billion

CAGR (2023-2028)

7.29%

Fastest Growing Segment

Tandem

Largest Market

Asia-Pacific


Market Overview

Global Passenger Cars Axle & Propeller Shaft Market has valued at USD 16 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 7.29% 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

Technological Advancements and Innovation

Technological advancements and innovation are among the primary drivers propelling the Global Passenger Cars Axle & Propeller Shaft Market forward. These advancements encompass various aspects of axle and propeller systems, including materials, design, manufacturing processes, and integration with other vehicle components. The development of advanced materials, such as lightweight alloys and composite materials, has significantly reduced the weight of axle and propeller components without compromising strength and durability. This weight reduction contributes to improved fuel efficiency and overall vehicle performance. Modern axle and propeller systems increasingly incorporate electronic components and sensors. These sensors monitor various parameters, such as wheel speed and vehicle stability, to enhance safety and performance. Additionally, integrated electronics facilitate the seamless integration of axle and propeller systems with advanced driver assistance systems (ADAS) and autonomous driving technologies. Innovations in manufacturing processes, including precision machining, 3D printing, and automated assembly, have improved the quality and consistency of axle and propeller components. These advancements reduce manufacturing defects, enhance product reliability, and drive down production costs. As electrified vehicles, such as electric and hybrid passenger cars, gain popularity, axle and propeller systems are being designed to integrate with regenerative braking systems. This integration allows for the recovery of kinetic energy during braking, further improving energy efficiency and extending the range of electric vehicles.

Electrification and Hybridization of Passenger Cars

The global shift toward electrification and hybridization of passenger cars is a significant driver for axle and propeller systems. As more electric and hybrid vehicles enter the market, these systems are being adapted and optimized to meet the unique requirements of these vehicle types. Axle and propeller systems for electric vehicles must accommodate electric motors and power electronics. These systems are designed to efficiently transmit torque from the electric motor to the wheels, contributing to the overall performance and efficiency of the vehicle. Hybrid passenger cars, which combine internal combustion engines with electric propulsion, require sophisticated axle and propeller systems. These systems are responsible for distributing power between the engine and electric motor, optimizing fuel efficiency, and enhancing driving dynamics. Electrified passenger cars are favored for their reduced greenhouse gas emissions and lower reliance on fossil fuels. Axle and propeller systems play a critical role in supporting these environmental benefits by ensuring efficient power transfer and improved energy management.

Stringent Emissions Regulations

Stringent emissions regulations imposed by governments around the world are a driving force behind the development of more efficient and eco-friendlier axle and propeller systems. These regulations compel automakers to reduce emissions and improve fuel economy. Governments and regulatory bodies are setting ambitious emissions reduction targets to combat climate change. Passenger cars are a significant source of emissions, and automakers are under pressure to implement technologies that minimize emissions. Axle and propeller systems are integral to improving vehicle efficiency. They directly impact fuel consumption and emissions by efficiently transmitting power from the engine or electric motor to the wheels. To meet emissions standards, automakers invest in technologies that enhance the efficiency of these systems. Fuel economy standards are being raised globally to reduce fuel consumption. Axle and propeller systems that contribute to weight reduction, friction reduction, and improved drivetrain efficiency are essential for automakers to meet these standards.

Consumer Demand for Performance and Safety

Consumer demand for enhanced vehicle performance and safety features is a significant driver in the development of advanced axle and propeller systems. Automakers are responding to these demands by incorporating innovative technologies. Consumers increasingly expect passenger cars to offer superior performance, including acceleration, handling, and braking. Advanced axle and propeller systems contribute to achieving these performance goals by improving power transfer and vehicle stability. Axle and propeller systems play a vital role in vehicle safety. They are involved in critical safety 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. The popularity of AWD and 4WD passenger cars continues to grow, especially in regions with challenging weather conditions. Axle and propeller systems designed for AWD and 4WD vehicles provide enhanced traction and stability, meeting consumer preferences for safety and performance.

Global Expansion and Emerging Markets

The expansion of the market into emerging economies is driving the demand for passenger cars, which, in turn, is spurring the growth of axle and propeller systems. As more consumers in these regions gain access to passenger vehicles, the market for these components expands. Emerging markets are witnessing the rise of a middle-class population with increasing purchasing power. This demographic shift is driving demand for passenger cars, including entry-level and affordable models that rely on cost-effective axle and propeller systems. Rapid urbanization in emerging economies necessitates improved transportation infrastructure. As cities expand and modernize, there is a growing need for passenger cars equipped with reliable axle and propeller systems that can navigate diverse road conditions. manufacturers and suppliers are establishing a global supply chain to serve emerging markets efficiently. This expansion creates opportunities for the production and distribution of axle and propeller systems on a larger scale.

 

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Key Market Challenges

Evolving Emission Standards and Fuel Efficiency Demands

One of the primary challenges facing the Global Passenger Cars Axle & Propeller Shaft Market is the continually evolving emissions standards and fuel efficiency demands. Governments around the world are imposing increasingly stringent regulations to combat climate change and reduce greenhouse gas emissions. To meet international commitments, many countries are implementing strict emissions standards for passenger cars. These standards require automakers to develop vehicles with lower emissions, which can be challenging when it comes to the design and selection of axle and propeller systems. Alongside emissions regulations, there is a growing demand for more fuel-efficient passenger cars. Achieving better fuel efficiency often involves reducing vehicle weight, which can impact the design and choice of axle and propeller components. Designing axle and propeller systems that strike the right balance between performance, safety, and fuel efficiency is a complex task. Meeting these objectives while adhering to emission and fuel economy regulations is a significant challenge for manufacturers.

Technological Advancements and Integration

The industry is experiencing rapid technological advancements, including innovations in axle and propeller systems. While these advancements present opportunities, they also pose integration challenges. Modern passenger cars come equipped with advanced driver assistance systems (ADAS) and autonomous driving features. Axle and propeller systems must be seamlessly integrated with these technologies to ensure safety and optimal performance. The shift toward electric and hybrid passenger cars necessitates adjustments in axle and propeller designs. Electric vehicles (EVs) often have unique requirements, such as accommodating electric motors in the axles, which can impact traditional designs. To improve fuel efficiency, automakers are increasingly using lightweight materials in vehicle construction. Axle and propeller components must also incorporate these materials, which can require significant engineering and manufacturing changes.

Cost Pressures and Price Sensitivity

Cost considerations are a significant challenge in the passenger cars axle and propeller market. While advancements in technology and materials can improve performance, they can also drive up manufacturing costs. Passenger cars are highly competitive markets, and automakers are under constant pressure to offer vehicles at competitive prices. This pressure can limit the budget allocated for advanced axle and propeller systems. As automakers strive to meet emission and fuel efficiency standards, they may introduce costlier technologies into their vehicles. However, consumers can be price-sensitive, making it challenging to pass on the increased manufacturing costs to the end-users. The industry often faces supply chain disruptions, which can impact the availability and cost of materials required for axle and propeller production. These disruptions can strain the manufacturing process and potentially lead to higher costs.

Durability and Reliability

Passenger cars are expected to operate reliably for extended periods, and axle and propeller systems are crucial components for ensuring vehicle durability. Achieving the necessary durability and reliability can be challenging for several reasons. Passenger cars are used under a wide range of conditions, from daily city commuting to long-distance highway driving. Axle and propeller systems must perform flawlessly in all of these scenarios. Maintaining consistent quality across manufacturing batches is essential. Even small variations in component quality can lead to reliability issues, which can be costly to address through recalls or repairs. Passenger car owners expect minimal maintenance and repair costs. Designing axle and propeller systems that require minimal servicing while still meeting durability expectations is a challenge.

Electric and Hybrid Vehicle Integration

The rise of electric and hybrid passenger cars presents unique challenges for the axle and propeller market. Electric vehicles often have limited space available for traditional axle and propeller systems due to the presence of electric motors and batteries. This requires innovative and compact designs that can fit within the vehicle's architecture. Electric and hybrid vehicles have different operating characteristics than traditional internal combustion engine vehicles. Axle and propeller systems must be tailored to meet the specific needs of these vehicle types, including the management of regenerative braking and the distribution of electric power.  Axle and propeller systems in electric and hybrid vehicles must be optimized for efficiency to maximize the vehicle's electric range. This requires precise engineering to minimize energy losses during operation.

Key Market Trends

Electrification and Hybridization of Passenger Cars

The trend toward electrification and hybridization of passenger cars is one of the most transformative forces in the industry. This trend has a profound impact on the design, development, and adoption of axle and propeller systems. Electric passenger cars are gaining significant traction globally. These vehicles rely on electric motors for propulsion, which necessitates axle and propeller systems designed to efficiently transmit power from the motor to the wheels. As a result, we see a growing emphasis on lightweight, high-efficiency designs. Hybrid passenger cars, which combine internal combustion engines with electric propulsion, are becoming increasingly popular. Axle and propeller systems in hybrid vehicles play a crucial role in managing power distribution between the engine and electric motor, optimizing fuel efficiency, and enhancing overall performance. Electrified vehicles, including hybrids and electric cars, utilize regenerative braking systems. These systems recover kinetic energy during braking and store it for later use. Axle and propeller systems are essential components for transferring this energy, contributing to improved energy efficiency and extended driving range.

Advanced Materials and Lightweight Design

To meet the demand for improved fuel efficiency and reduced emissions, automakers are turning to advanced materials and lightweight design principles. This trend is profoundly impacting the construction of axle and propeller systems. The adoption of advanced materials, such as lightweight alloys, composites, and high-strength steels, is becoming increasingly prevalent in the construction of axle and propeller components. These materials offer the strength and durability required while reducing weight, contributing to enhanced fuel efficiency. Lightweight design is a paramount consideration. By reducing the weight of axle and propeller components, automakers can improve the overall efficiency of passenger cars. Reduced weight means less energy is required to propel the vehicle, resulting in improved fuel economy. Engineers are focusing on optimizing the design of axle and propeller components to ensure that they are as lightweight as possible while maintaining structural integrity and safety. Computer-aided design and simulation tools are crucial in achieving these goals.

Integration of Advanced Electronics and Sensors

The integration of advanced electronics and sensors is transforming axle and propeller systems into intelligent components that enhance vehicle performance, safety, and efficiency. Modern axle and propeller systems incorporate a wide range of electronic sensors that monitor various vehicle parameters. These sensors provide data on wheel speed, temperature, torque distribution, and more. This data is crucial for optimizing vehicle stability, traction control, and performance. Axle and propeller systems are integral to stability and safety systems, including anti-lock braking systems (ABS) and electronic stability control (ESC). These systems rely on real-time data from sensors to adjust and enhance vehicle stability and safety. The rise of ADAS, including adaptive cruise control, lane-keeping assist, and collision avoidance systems, requires seamless integration with axle and propeller systems. These components play a crucial role in supporting the functionality of ADAS by providing accurate data and control.

All-Wheel Drive (AWD) and Four-Wheel Drive (4WD) Systems

The popularity of AWD and 4WD passenger cars is steadily growing, driven by consumer demand for enhanced traction, stability, and off-road capabilities. This trend has a direct impact on the design and implementation of axle and propeller systems. A growing number of passenger car models, including SUVs and crossover vehicles, are now available with AWD and 4WD options. These systems improve traction in adverse weather conditions and provide off-road capability. AWD and 4WD systems require specific axle and propeller designs to distribute power to all four wheels effectively. This often involves the inclusion of additional components such as transfer cases and differential locks. AWD and 4WD systems enhance vehicle performance, making them popular choices for enthusiasts and consumers seeking improved handling and acceleration. Axle and propeller systems are designed to accommodate the power distribution demands of these systems.

Globalization of the Supply Chain

The globalization of the supply chain is reshaping the landscape of axle and propeller systems. Automakers and suppliers are expanding their operations globally to meet the demands of emerging markets and optimize manufacturing efficiency. Emerging economies, particularly in Asia and Latin America, represent significant growth opportunities for the industry. As these markets continue to expand, the demand for passenger cars and related components, including axle and propeller systems, is on the rise. Automakers and suppliers are establishing a global supply chain network to serve these emerging markets efficiently. This includes the production and distribution of axle and propeller systems on a larger scale, with a focus on cost-effective manufacturing. The globalization of the supply chain allows for the optimization of production processes. Components can be manufactured in regions with cost advantages, ensuring cost-effective production while maintaining quality standards.

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 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.

The second largest and most established market for automobile axle 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 Passenger Cars Axle & Propeller Shaft Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Passenger Cars Axle & Propeller Shaft Market, By Axle Type:

o   Live

o   Dead

o   Tandem

  • Passenger Cars Axle & Propeller Shaft Market, By Propeller Shaft:

o   Single Piece

o   Multi Piece

  • Passenger Cars Axle & Propeller Shaft Market, By Demand Category:

o   OEM

o   Aftermarket

  • Passenger Cars 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 Passenger Cars Axle & Propeller Shaft Market.

Available Customizations:

Global Passenger Cars 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 Passenger Cars 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 Passenger Cars Axle & Propeller Shaft Market

5.    Global Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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 Passenger Cars 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

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Passenger Cars Axle & Propeller Shaft Market was estimated to be USD 16 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 and Emerging Markets, Technological Advancements and Innovation, Consumer Demand for Performance and Safety are the major drivers for the Global Passenger Cars Axle & Propeller Shaft Market.

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Srishti Verma

Business Consultant
Press Release

Passenger Cars Axle & Propeller Shaft Market to Grow with a CAGR of 7.29% Globally through to 2028

Oct, 2023

Global Expansion and Emerging Markets, Technological Advancements and Innovation, Consumer Demand for Performance and Safety are factors driving the Global Passenger Cars Axle & Propeller Shaft marke

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