The global automotive axle and propeller shaft market is segmented by axle position into front axle and rear axle; by axle type into dead axle, live axle and tandem axle; by propeller shaft position into front propeller shaft, rear propeller shaft and inter-axle propeller shaft; by propeller shaft type into single piece propeller shaft and multi piece propeller shaft; by vehicle type into passenger vehicles, market in light commercial vehicles and market in heavy commercial vehicles; by sales channel into aftermarket and OEM and by regions. Automotive Axle and Propeller Shaft Market is anticipated to mask a CAGR of 4.5% during the forecast period i.e. 2018-2027.
Currently the global automotive axle and propeller shaft market is observing vibrant growth owing to increasing demand of technologically advanced automobiles in the market. Advances in automotive industry in the past few years and growing space explorations are projected to drive automotive axle and propeller shaft market besides the wide range of functions of automotive axle and propeller shaft in an immense range of applications such as improving power and drivetrain system, increasing operational performance, torque transfer, momentum generation and more during the forecast period.
On account of increasing trend towards motorization, North America is panned to observe substantial automotive axle and propeller shaft market growth due to rising automotive usage. North America is expected to be followed by Asia Pacific in terms of consumption due to expanding automotive axle and propeller shaft requirements in technologically advanced automotive sold across the region. Europe is expected to drive demand and positively impact automotive axle and propeller shaft market growth over the forecast period owing to increasing automotive axle and propeller shaft application for improvement and advancement processes.
Growing trend towards Customization
The growing disposable income of the present population is surging the demand for customization in automobile industry with rising demand for customized automotive axle and propeller shafts for increased safety, easy drivability, and increased fuel efficiency. Rapid economic development with thriving automotive manufacturing sector is expected to boost the automotive axle and propeller shaft market in the developing regions. Increasing technological advancements is anticipated to drive the automotive axle and propeller shaft market over the forecast period across the globe.
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Increasing Automobile Sales
Increasing on-road automobile numbers along with the rising trend of motorization among current population is driving the automotive axle and propeller shaft market significantly at present and is expected to impact the market strongly during the forecast period.
However, fluctuations in raw materials costs such as steel and carbon alloys that are majorly used in the manufacturing of axle and propeller shaft along with increased component cost and increased vehicular weight are anticipated to serve as hindrance in the growth of the axle and propeller shaft market.
The report titled “Global Automotive Axle and Propeller Shaft Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global Automotive Axle and Propeller Shaft market in terms of market segmentation by axle position, by axle type, by propeller shaft position, by propeller shaft type, by vehicle type, by sales channel and by regions.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global Automotive Axle and Propeller Shaft market which includes company profiling of Gestamp, Meritor, Inc., ZF Friedrichshafen AG, IFA Rotorion – Holding GmbH, American Axle & Manufacturing Holdings, Inc., Dana Incorporated, GKN PLC, RSB Group, Showa Corporation and Hyundai Wia Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Automotive Axle and Propeller Shaft market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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