According to study, “Global
Axle & Propeller Shaft Market Analysis 2013-2018 and Forecast 2019-2024”
some of the key companies currently operating in the global axle &
propeller shaft market areAmerican Axle & Manufacturing Holdings, AAL, GKN
Plc, RSB Group, Dana Inc., Jtekt Corp., Showa Corp., NTN, Meritor Inc., GNA
Enterprises, Nexteer Automotive, Gestamp, IFA Rotorian Holding GmbH, Talbros
Engineering, Sona Group, Hyundai-Wia Corp., Bailey Morris limited, Wilson drive
shafts, Korea Flange Co. Ltd. (KOFCO), Neapco Inc., ZF Friedrichshafen AG, AAM
(American Axle & Manufacturing Holdings), CIE Automotive USA, Inc., Dexter
Axle Company, Colfor Manufacturing, Inc., Fabco Automotive Corporation, Sypris
Technologies, LLC, NTK Precision Axle Corporation, Westport Axle Corporation, Magna
International Inc.
Axle & propeller shaft are the mechanical or
automatic part which converts torque generated by vehicle's engine used by the motive
force to drive the vehicle. It is divided into front axle & propeller shaft
and rear axle & propeller shaft. The classification of axle depends on the
position & function of axle. The commercial vehicles for instance medium
duty trucks, heavy trucks, and buses may assimilate more than two live axles
depending on the relevance and role of the vehicle, while most of the passenger
cars are incorporated with one live axle & one dead axle. Propeller shaft
also called drive shaft is used to transfer torque from an engine to the
discrepancy of the vehicle.
Based on type, global axle market is segmented into
live axle, dead axle and tandem axle. Based on position, market is defined as
front axle and rear axle. Based on type, propeller shaft market is segmented
into single piece propeller shaft, multi piece propeller shaft and slip in
tube. Based on the position, this market is segmented into rear propeller
shaft, front propeller shaft and inter-axle propeller shaft. Based on material,
market is divided into carbon fiber propeller shaft and alloy propeller shaft.
Based on vehicle type, market is segmented into passenger cars, two wheeler vehicle
and commercial vehicle. The passenger car segment is expected to maintain its
prevailing position owing to increase in number of HEV, BEV, and conventional
fuel cars. In addition, a two-wheeler segment is also expected to witness the
high growth rate due to increase in number of electric & conventional two
wheelers in developing economies, like China, Brazil and India.
The global axle & propeller shaft is primarily
driven by growth in vehicle production, followed by changing end user
preference and technological advancements. Apart from benefits, some of the
hindering factors include pricing pressure & fluctuating prices of raw
materials, weight & cost reduction and vehicle recall & regulatory
concerns. In the new opportunities include growing market for All Wheel Drive (AWD)
vehicles, ongoing trend for e-mobility and growing demand for aluminum
propeller shaft.
The global axle & propeller shaft market is driven
by China & India with the sustainable necessities for the aftermarket
elements, emergent sale of heavy commercial motor vehicles in these regions is
expected to boost revenue of the market. In addition, the commercial vehicle
segment is projected to witness the robust growth in the North American region as
an account of increase in public transport infrastructure during the forecast
period.
For more information on the research
report, refer to below link:
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