Automotive Axle & Propeller Shaft Market worth 58.07 Billion USD by 2021

March 07 18:48 2017
The global automotive axle and propeller market size, in terms of value, is estimated to be USD 39.11 Billion in 2016, and is projected to grow to USD 58.07 Billion by 2021, at a CAGR of 8.22%. Growing global vehicle production, and commercialization of new technologies towards light weighting overall vehicle are expected to drive the axle and propeller shaft market.

The report Automotive Axle & Propeller Shaft Market by Position (Front, Rear, and Inter-Axle Propeller Shaft), Axle Type (Live, Dead, and Tandem Axle), Propeller Shaft Type (Single, and Multi Piece), Material (Alloy, and Carbon Fiber) – Global Forecast to 2021″, The global automotive axle and propeller market size, in terms of value, is estimated to be USD 39.11 Billion in 2016, and is projected to grow to USD 58.07 Billion by 2021, at a CAGR of 8.22%.

Browse 88 market data tables and 60 figures spread through 157 pages and in-depth TOC on “Automotive Axle & Propeller Shaft Market – Global Forecast to 2021”

Make an Inquiry: http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=62590144

Early buyers will receive 10% customization on this report.

The major factors behind the growth of automotive axle & propeller shaft sales are growing adoption of AWD vehicles, innovations in engineering focusing towards fuel efficiency and sustainability, as well as rising vehicle production.

Single piece propeller shaft segment: Expected to dominate the propeller shaft market

Single piece propeller shaft segment dominates the global propeller shaft market, in terms of both value and volume. The key reason for such market growth is its cost effectiveness as well as overall durability. Single piece propeller shaft is more widespread than the multi piece propeller shaft majorly because of its light weight and high fuel efficiency.

Download PDF Brochure: http://www.marketsandmarkets.com/pdfdownload.asp?id=62590144

Live axle segment: Expected to register the highest growth rate

Live axle drives the wheel connected to it along with supporting the weight of the car. Increasing consumer’s preference towards SUVs and RWD passenger cars as well as consistent growth in overall vehicle production have triggered the growth of the live axle market. Growing demand for passenger cars is expected to positively impact the live axle market.

Asia-Oceania: Largest market for axle and propeller shaft

Asia-Oceania comprises of developing economies such as India and China, which are major global markets for automobile production. Global OEMs are investing in these countries, given the new market opportunities arising from growing economies, rising vehicle production levels as well as globally competitive automotive manufacturing hub. This is expected to have positive impact on the demand for axles and propeller shafts which would provide significant boost to large number of local and international component suppliers present in the region. Major suppliers such as Showa Corporation (Japan) and globally established players such as ZF Friedrichshafen AG (Germany) have a strong presence in this region.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Rohan
Email: Send Email
Phone: 1-888-600-6441
Address:UNIT no 802, Tower no. 7, SEZ Magarpatta city, Hadapsar
City: Pune
State: MAHARASHTRA
Country: India
Website: http://www.marketsandmarkets.com/Market-Reports/axle-propeller-shaft-market-62590144.html

  Categories: