Automotive Axle & Propeller Shaft Market to Portray $45.3 Billion by 2030: Allied Market Research
June 23, 2022
[230 Pages Research] Rise in vehicles production & sales, surge in electric vehicles adoption, and increase in demand for comfortable & fuel-efficient vehicles propel the global automotive axle & propeller shaft market growth. The Covid-19 pandemic led to implementation of lockdown restrictions in many countries. This led to disruptions in supply chain and presented challenges such as shortage of automotive parts & suspension of production activities of vehicles across the globe.
/EIN News/ -- Portland, OR, June 23, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global automotive axle & propeller shaft market generated $29.3 billion in 2020, and is expected to reach $45.3 billion by 2030, witnessing a CAGR of 4.6% from 2021 to 2030. The report provides a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Increase in production & sales of vehicles, rise in adoption of electric vehicles, surge in aftermarket demand for axle & propeller shaft from emerging economies, and rise in demand for comfortable & fuel efficient vehicles drive the growth of the global automotive axle & propeller shaft market. However, varying prices of raw materials and concerns related to vehicle recall & regulatory restrain the market growth. On the other hand, rise in demand for all-wheel drive vehicles and surge in use of lightweight materials for manufacturing of axle & propeller shafts create new opportunities in the coming years.
Download Report (230 Pages PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/1744
- The Covid-19 pandemic forced many countries to implement lockdown restrictions. This resulted to disruptions in supply chain and created shortage of automotive parts & suspension of production activities of vehicles across the globe. The demand for axle & propeller shafts reduced from the automotive sector.
- Post-lockdown, the sales for electric car experienced a significant growth, witnessing the growth of nearly 109% in 2021. This growth in sales of electric vehicle led to rise in demand for automotive axle and propeller shaft and led to the growth of the market.
The report offers detailed segmentation of the global automotive axle & propeller shaft market based on type, vehicle type, sales channel, and region.
Request for Customization at https://www.alliedmarketresearch.com/request-for-customization/1744
Based on type, the live axle segment contributed to the largest share in 2020, accounting for more than half of the total market share, and is estimated to maintain its lead position during the forecast period. However, the single piece propeller shaft segment is expected to manifest the highest CAGR of 6.5% from 2021 to 2030.
Based on sales channel, the original equipment manufacturer segment held the highest share in 2020, accounting for more than 90% of the global automotive axle & propeller shaft market. However, the aftermarket segment is estimated to witness the fastest CAGR of 6.5% during the forecast period.
Interested to Procure the Data with Actionable Strategy & Insights? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/1744
Based on region, Asia-Pacific accounted for the largest share in 2020, contributing to nearly two-fifths of the total market share, and is estimated to continue its leadership status by 2030. However, Europe is projected to portray the fastest CAGR of 5.5% during the forecast period.
Leading players of the global automotive axle & propeller shaft market analyzed in the research include American Axle & Manufacturing, Inc., Gestamp Automocion, Dana Incorporated, Hyundai Wia Corporation, S.A., Hitachi, Ltd., JTEKT Corporation, IFA Group, Meritor, Inc., Melrose Industries Plc, and ZF Friedrichshafen AG.
Buy Complete Report Now! https://www.alliedmarketresearch.com/checkout-final/37405f3e37b574d341c107ab78fc64fb
Similar Reports We Have on Automotive Industry:
Aircraft Turboprop Propeller System Market by Material (Composite Based Propeller and Aluminum Based Propeller), Component (Blade, Hub, and Others), Sales Channel (Original Equipment Manufacturer (OEM) and Maintenance, Repair, and Operation (MRO)), and Application (Civil Aircraft, Military Aircraft, and Commercial Aircraft): Global Opportunity Analysis and Industry Forecast, 2019–2030.
Aircraft Propeller System Market by Propeller Type (Fixed Pitch Propellers and Varying Pitch Propellers), End User (Original Equipment Manufacturer (OEM), Aftermarket), Component (Blades, Hubs, Spinners, and Others), and Aircraft Type (Military Aircraft, Civil & Commercial Aircraft), and Products (Contra-Rotating Propeller, Counter-Rotating Propeller): Global Opportunity Analysis and Industry Forecast, 2020–2030.
Axle Shaft Market by Type (Dead axle, live axle, and Tandem axle), Vehicles (Two-wheelers, Passenger cars, and Commercial vehicle), and Position (Front and Rear): Global Opportunity Analysis and Industry Forecast, 2021–2030.
E-Axle Market by Drive Type (Forward Wheel Drive, Rear Wheel Drive, and All-wheel Drive), Component (Combining Motors, Power Electronics, Transmission, and Others), and Vehicle Type (ICE Vehicle (Passenger & Commercial Vehicles), and Electric Vehicles): Global Opportunity Analysis and Industry Forecast, 2018–2030.
Commercial Vehicle Axles Market by Product (Dead Axle, Live Axle, and Tandem Axle) and Application (Freight Transport and Passenger Transport) - Global Opportunity Analysis and Industry Forecast, 2017-2030.
Trailer Axle Market Capacity (Lower than 8,000 lbs, 8,000-15,000 lbs, 15,000-25,000 lbs, and More than 25,000 lbs), Application (Lightweight Trailers, Medium-weight Trailers, and Heavy Trailers), and Sales Channel (OEM and Aftermarket) - Global Opportunity Analysis and Industry Forecast, 2017-2030.
Automotive Transaxle Market by Types (Front Engine & Front Wheel Drive, Rear Engine & Rear Wheel Drive, Front Engine & Rear Wheel Drive, and All Wheel Drive), Operation (Manual and Automatic), Vehicle Type (Passenger Cars and Commercial Vehicles), and Sales Channel (OEM and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2021–2030.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
USA/Canada (Toll Free):
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Allied Market Research Blog: https://blog.alliedmarketresearch.com