Global Automotive Axle & Propeller Shaft Market Size, Share, Forecast Report, 2020-2027

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The report provides rational insights along with historical and forecast data to aid in better understanding of the Global Automotive Axle & Propeller Shaft Market. The report provides a comprehensive analysis of key factors that are expected to drive the growth of the Automotive Axle & Propeller Shaft market. This study also provides a detailed overview of the opportunities along with the current trends observed in the target market.

The global automotive axle and propeller shaft market size is expected to grow at a CAGR of 3.2%, by value, during the forecast period. As per our post-COVID forecasts, the market is estimated to reach USD 21.7 billion in 2020 and is projected to achieve USD 25.4 billion by 2025. Post-COVID, factors that push the market forward are a steady increase in vehicle production, demand for luxury vehicles, AWD vehicles, and commercialization of new technologies towards light-weighting of the overall vehicle is expected to drive the automotive axle and propeller shaft market

The automotive axle and propeller shaft market includes major Tier I and II suppliers like ZF, GKN Automotive, Dana Incorporated, Meritor, Automotive axle & manufacturing, and others. These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, South America, and Middle East & Africa. COVID-19 has impacted all of its businesses globally; these players have announced a temporary shutdown of production due to lockdown and also to protect the safety of their employees, which basically created lowered demand and supply chain disruptions in US, France, Germany, Italy, and Spain during the COVID-19 pandemic. As a result, the demand for overall automotive production has decline, which directly affects the automotive axle and propeller shaft market in 2020. Going forward, manufacturers are likely to adjust production to prevent bottlenecks and plan production according to demand from OEMs and tier 1 manufacturers.

Major OEM manufacturers lost revenues in Q1 and Q2 2020, in Q3 2020. Vehicle production is likely to resume, however, not at full capacity due to the severity of the pandemic, due to which, especially in the US and major European countries, tier 1 players suspect a further decline in revenue in the remaining quarters of 2020.

The report covers major players operating in the market along with the key strategies implemented to achieve a competitive edge against a majority of the vendors which provides a competitive outlook of the industry. The competitive landscape further includes details about different players and their position on a global and a local level is also explained in detail in this compiled study. These insights were prepared through mapping business strategies and products that offer high revenue generation capacities. Key players of the global Automotive Axle & Propeller Shaft market are included as given below:

Some of the key players in the automotive axle and propeller shaft market are ZF Friedrichshafen AG (Germany), Dana Incorporated (US), GKN Automotive (UK), American Axle & Manufacturing, Inc. (US), Meritor, Inc. (U.S.), Showa Corporation (Japan), Hyundai Wia Corporation (South Korea), JTEKT Corporation (Japan), and GKN plc (UK). ZF and GKN adopted the strategies of expansion, and new product development, to retain its leading position in the automotive axle and propeller market.

The global Automotive Axle & Propeller Shaft market has been segmented as below:

Automotive Axle market, By Type

� Dead

� Live

� Tandem

Automotive Axle market, By Axle Position

� Front

� Rear

Automotive Propeller Shaft Market, By Position

� Front

� Rear

� Interaxle

Automotive Propeller shaft market, By Type

� Single piece

� Multi-piece

Passenger Car Propeller Shaft Market, By Material

� Alloy

� Carbon fiber

Automotive Axle And Propeller Shaft market, By Region

� Asia Oceania

� Europe

� North America

� RoW

Reasons to Purchase this Report:

Estimates Automotive Axle & Propeller Shaft development trends with SWOT analysis

� Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players

� Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market's expansion

� Market dynamics scenario, along with growth opportunities for players in the years to come

� Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the mentioned forecast period

� Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects