Press release
Global Automotive Propeller Shaft Market | COVID-19 Impact, Size, Application, Global Analysis, Share, Revenue, Emerging Technologies, Outlook and Forecast for 2017-2023
The global automotive propeller shaft market is garnering impressive traction. The market witnesses substantial investments by automotive manufacturers in the research and development of innovative product lines. Besides, the major focus of automakers to develop lightweight shaft to reduce the overall weight of the vehicle drives the growth of the market. Also, the market growth attributes to increasing vehicle sales and the automotive industry worldwide.
Moreover, the rising production of electric vehicles and lightweight vehicles escalate market demand. According to Market Research Future (MRFR), the global automotive propeller shaft market is estimated to grow at approximately 8.50% CAGR during the assessment period (2017-2023). Rising adoption of shaft technologies required to drive axle or rear axle a substantial market demand. Growing demand for high torque vehicles and safety concerns are the major growth drivers.
Request a Sample Report @ https://www.marketresearchfuture.com/sample_request/5370
Additionally, rapid advances in shaft technologies and materials used to manufacture shafts accelerate market growth. The increase in sales of luxury vehicles and sports cars pushes the market growth. Simultaneously, the constant rise in smart and autonomous vehicle sales boosts market revenues. Conversely, fluctuating prices and the demand-supply gap in raw materials required for production are major factors projected to impede the market growth.
Similarly, low-cost counterfeit propeller shafts floating in the market are anticipated to obstruct the market growth during the predicted period. Nevertheless, the spurring rise in the auto component industry would support market growth throughout the review period.
Automotive Propeller Shaft Market – Segments
The report is segmented into five dynamics.
By Position: Front, Rear, and Inter-Axle Propeller Shaft.
By Type : Live, Dead, and Tandem Axle.
By Propeller Shaft Type : Single, Multi Piece, and others.
By Material: Alloy and Carbon Fiber.
By Regions: Americas, Europe, APAC, and the Rest-of-the-World.
Global Automotive Propeller Shaft Market – Regional Analysis
The Asia Pacific region leads the global automotive propeller shaft market. The largest market share attributes to the increasing demand for propeller shaft among both OEMs and aftermarket replacement. Also, substantial R&D investments for product development, advances in material technologies, and increased vehicle sales drive the regional market growth.
Besides, the region with its raw material advantages attracts foreign investors and therefore witnesses increasing the numbers of production plants. Moreover, the continually rising economy and population in the region accelerate the automotive propeller shaft market sales. China leads the APAC automotive propeller shaft market, followed by India.
Europe stands second in the global automotive propeller shaft market. The market is driven by the presence of several automotive technology providers in this region. Europe is the global hub for automobile research and innovation, which positively impacts the regional market's growth. Furthermore, enormous advances in automotive technologies and the rising economic growth in the region propel market growth. Additionally, the large and well-established automotive sectors in the region substantiate the growth of the market.
Browse Report @ https://www.marketresearchfuture.com/reports/automotive-propeller-shaft-market-5370
Also, increased vehicle safety concerns influence the growth of the regional market. Furthermore, strict government standards for vehicle safety influence market growth in the region. The European Automotive Propeller Shaft market is projected to create an immense revenue pocket during the assessment period.
North America is also a considerably large market for automotive propeller shafts, globally. The development of reduced weight shafts and increasing demand from the transportation sector are the latest propeller shaft market trends. Besides, factors such as the growing significant GDP and high per capita income of demographics foster the regional market's growth. Moreover, favorable government policies, leading OEMs, and well-developed automobile infrastructures in the region influence the automotive propeller shaft sales.
Automotive Propeller Shaft Market – Competitive Analysis
Highly competitive, the automotive propeller shaft market appears diversified with the presence of several well-established players. To gain a larger competitive share of the market, innovation, mergers & acquisitions, and brand reinforcement remain key trends for propeller shaft manufacturers.
Major Players:
Players leading the automotive propeller shaft market include American Axle & Manufacturing, Inc. (U.S.), ZF Friedrichshafen AG (Germany), Meritor, Inc. (U.S.), GKN plc (U.K.), Showa Corporation (Japan), Wilson drive shafts (England), JTEKT Corporation (Japan), Nexteer Automotive (U.S.), Gestamp (Spain), D & F Propshafts (U.K.), Dana Holding Corporation (U.S.), Bailey Morris Limited (England), American Axle & Manufacturing Holdings, Inc. (U.S.), B & F limited (U.K.), and Hyundai Wia Corporation (South Korea), among others.
Industry/ Innovation/ Related News:
October 27, 2020 ----- Scania AB (Sweden), a major commercial vehicles manufacturing company, launched a heavyweight vehicle - XT Heavy Tipper for the mining and heavy construction industries. The new heavyweight contender would substantially reduce costs and increase productivity for operators in these businesses. Scania is again at the forefront of innovation to exceed customer expectations and take on the yellow equipment manufacturers.
Scania specifically manufacturers heavy Lorries, trucks, and buses. This outstanding heavyweight is equipped with an air-sprung, steered pusher axle in front of the rear bogie and propeller shaft supporting higher torque, the greater strength of the differential and hub reduction to support higher loads, the entire suspension – springs, anti-roll bar, and shock absorbers ¬ – has been reinforced.
Browse Report @ https://www.marketresearchfuture.com/reports/automotive-propeller-shaft-market-5370
Key Questions Addressed by the Report
• What was the historic market size (2020)?
• Which segmentation (Product/ Capacity) is driving market?
• What will be the growth rate by 2023?
• How are the key players in this market?
• What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
Browse Report @ https://www.marketresearchfuture.com/reports/automotive-propeller-shaft-market-5370
Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Moreover, the rising production of electric vehicles and lightweight vehicles escalate market demand. According to Market Research Future (MRFR), the global automotive propeller shaft market is estimated to grow at approximately 8.50% CAGR during the assessment period (2017-2023). Rising adoption of shaft technologies required to drive axle or rear axle a substantial market demand. Growing demand for high torque vehicles and safety concerns are the major growth drivers.
Request a Sample Report @ https://www.marketresearchfuture.com/sample_request/5370
Additionally, rapid advances in shaft technologies and materials used to manufacture shafts accelerate market growth. The increase in sales of luxury vehicles and sports cars pushes the market growth. Simultaneously, the constant rise in smart and autonomous vehicle sales boosts market revenues. Conversely, fluctuating prices and the demand-supply gap in raw materials required for production are major factors projected to impede the market growth.
Similarly, low-cost counterfeit propeller shafts floating in the market are anticipated to obstruct the market growth during the predicted period. Nevertheless, the spurring rise in the auto component industry would support market growth throughout the review period.
Automotive Propeller Shaft Market – Segments
The report is segmented into five dynamics.
By Position: Front, Rear, and Inter-Axle Propeller Shaft.
By Type : Live, Dead, and Tandem Axle.
By Propeller Shaft Type : Single, Multi Piece, and others.
By Material: Alloy and Carbon Fiber.
By Regions: Americas, Europe, APAC, and the Rest-of-the-World.
Global Automotive Propeller Shaft Market – Regional Analysis
The Asia Pacific region leads the global automotive propeller shaft market. The largest market share attributes to the increasing demand for propeller shaft among both OEMs and aftermarket replacement. Also, substantial R&D investments for product development, advances in material technologies, and increased vehicle sales drive the regional market growth.
Besides, the region with its raw material advantages attracts foreign investors and therefore witnesses increasing the numbers of production plants. Moreover, the continually rising economy and population in the region accelerate the automotive propeller shaft market sales. China leads the APAC automotive propeller shaft market, followed by India.
Europe stands second in the global automotive propeller shaft market. The market is driven by the presence of several automotive technology providers in this region. Europe is the global hub for automobile research and innovation, which positively impacts the regional market's growth. Furthermore, enormous advances in automotive technologies and the rising economic growth in the region propel market growth. Additionally, the large and well-established automotive sectors in the region substantiate the growth of the market.
Browse Report @ https://www.marketresearchfuture.com/reports/automotive-propeller-shaft-market-5370
Also, increased vehicle safety concerns influence the growth of the regional market. Furthermore, strict government standards for vehicle safety influence market growth in the region. The European Automotive Propeller Shaft market is projected to create an immense revenue pocket during the assessment period.
North America is also a considerably large market for automotive propeller shafts, globally. The development of reduced weight shafts and increasing demand from the transportation sector are the latest propeller shaft market trends. Besides, factors such as the growing significant GDP and high per capita income of demographics foster the regional market's growth. Moreover, favorable government policies, leading OEMs, and well-developed automobile infrastructures in the region influence the automotive propeller shaft sales.
Automotive Propeller Shaft Market – Competitive Analysis
Highly competitive, the automotive propeller shaft market appears diversified with the presence of several well-established players. To gain a larger competitive share of the market, innovation, mergers & acquisitions, and brand reinforcement remain key trends for propeller shaft manufacturers.
Major Players:
Players leading the automotive propeller shaft market include American Axle & Manufacturing, Inc. (U.S.), ZF Friedrichshafen AG (Germany), Meritor, Inc. (U.S.), GKN plc (U.K.), Showa Corporation (Japan), Wilson drive shafts (England), JTEKT Corporation (Japan), Nexteer Automotive (U.S.), Gestamp (Spain), D & F Propshafts (U.K.), Dana Holding Corporation (U.S.), Bailey Morris Limited (England), American Axle & Manufacturing Holdings, Inc. (U.S.), B & F limited (U.K.), and Hyundai Wia Corporation (South Korea), among others.
Industry/ Innovation/ Related News:
October 27, 2020 ----- Scania AB (Sweden), a major commercial vehicles manufacturing company, launched a heavyweight vehicle - XT Heavy Tipper for the mining and heavy construction industries. The new heavyweight contender would substantially reduce costs and increase productivity for operators in these businesses. Scania is again at the forefront of innovation to exceed customer expectations and take on the yellow equipment manufacturers.
Scania specifically manufacturers heavy Lorries, trucks, and buses. This outstanding heavyweight is equipped with an air-sprung, steered pusher axle in front of the rear bogie and propeller shaft supporting higher torque, the greater strength of the differential and hub reduction to support higher loads, the entire suspension – springs, anti-roll bar, and shock absorbers ¬ – has been reinforced.
Browse Report @ https://www.marketresearchfuture.com/reports/automotive-propeller-shaft-market-5370
Key Questions Addressed by the Report
• What was the historic market size (2020)?
• Which segmentation (Product/ Capacity) is driving market?
• What will be the growth rate by 2023?
• How are the key players in this market?
• What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
Browse Report @ https://www.marketresearchfuture.com/reports/automotive-propeller-shaft-market-5370
Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
