Automotive Propeller Shaft Market 2018 Global Industry Size, Growth, Trends, Share, and Regional Forecast To 2023 is report published by Market Research Future. Global Automotive Propeller Shaft Market Research Report – By Position (Front, Rear, and Inter-Axle Propeller Shaft), Type (Live, Dead, and Tandem Axle), Propeller Shaft Type (Single, Multi Piece, and Other), Material (Alloy, and Carbon Fiber), and region.

Global Automotive Propeller Shaft Market Key Players Analyzed In Report:

ZF Friedrichshafen AG (Germany), American Axle & Manufacturing, Inc. (U.S.), Meritor, Inc. (U.S.), Showa Corporation (Japan), GKN plc (U.K.), Wilson drive shafts (England), Nexteer Automotive (U.S.), JTEKT Corporation (Japan), Gestamp (Spain), Dana Holding Corporation (U.S.), D & F Propshafts (U.K.), Bailey Morris limited (England), B & F limited (U.K.), American Axle & Manufacturing Holdings, Inc. (U.S.), and Hyundai Wia Corporation (South Korea).

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Market Overview:

The automotive propeller shaft is mechanical component that allows back and forth movement of the vehicles. The automotive propeller shaft is used to connect the engine and the wheels to provide high torque to the vehicle. The drive shaft integrates one or more universal joints, jaw coupling, and sometimes prismatic joint. Longitudinal shaft type is generally used to deliver power from the engine to the wheels of the vehicle. The longitudinal shaft transfers power from one component to another and then to the wheels to provide rotational movement. Propeller shaft helps decide the performance of the vehicle, which makes the development of propeller shaft precise. Many automotive manufacturers are investing heavily in the research and development to innovate their product line. The light weight development of propeller shafts, is the major focus of the automotive OEMs.

On the basis of region, the market has been segmented into the regions of North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific is expected to dominate the market during the forecast period due to an increase in the production of vehicles in emerging regions such as India, and China. The development in automotive industry have led to the emergence of new and high-tech automotive technology, which will attract the interest of the consumers. The increasing safety concerns among consumers drives them towards the safety and quality of automotive propeller shaft. The standard technology offered by the small automotive installation service provider, will be replaced by specialized automotive propeller shafts so as to meet the market expectation. This will create an opportunity for the specialized automotive market to meet the standard for the automotive propeller shaft.

Europe is expected to be the second largest market for automotive propeller shaft market due to stringent norms for fuel economy, which will increase the investment in the research and development. The rise in investment in research and development for developing light weight component, is expected to drive the growth of this region in future. In Europe, there has been an increase in the preference for comfort ride by the customers, which will increase the demand for high quality propellers.

North America is expected to be the third largest market during the forecast period. North America is one of the major producers of automotive propeller shafts due to the big giants in the region. Moreover, the rising demand for passenger cars have increased the demand for automotive propeller shaft, which has augmented the North American market. In North America, U.S. is expected to account for the largest market share during the forecast period. Owing to the presence of major automobile companies the demand for automotive propeller shaft has improved the market growth. U.S. is considered a mature economy but is still has a demand for passenger cars, LCV and HCV due to the rising immigrants. This will result in the growth of the market during the forecast period.

The factors that are responsible for the growth of automotive propeller shaft market are technology innovation in the materials, growth in the automotive industry, and increase in the sales of the new vehicle. The innovation in technology in the automotive propeller shafts, is expected to drive the market in future. Innovation such as light weight propeller shaft, have emerged in order to reduce the overall weight of the vehicle. The increase in sales of new vehicle will result in growing use of propeller shaft in the vehicle in order to drive the vehicle. It is an important component of the vehicle because it provide torque and allows the movement of the vehicle.

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