Automotive axle and propeller shafts are key components to generate momentum in vehicles by transferring torque from differential to wheels and engine to differential, respectively. Axles transfer the torque from differential to wheels or serve only as a support for vehicle loads while providing the mounting for wheel assembly. The functioning of the axle depends on the position and type of axle. Commercial vehicles, such as heavy trucks, medium duty trucks, and buses may integrate more than two live axles depending on the application and role of the vehicle, whereas most of the passenger cars are integrated with one live axle & one dead axle. Propeller shaft also known as drive shaft is used to transfer torque from the engine to the differential of the vehicle. Propeller shaft is integrated with the differential using one or more universal joints or jaw couplings. Propeller shafts are capable of transferring large amount of torque with minimum power loss as compared to belt and chain drive systems. Major players in the market are investing huge amount of capital in research & development to enhance their technical expertise, offer new & innovative products, and increase their product portfolio. For instance, in 2015 American Axle & Manufacturing, Inc, a leading manufacturer of axle & propeller shafts invested $113.9 million in R&D to enhance their axle and propeller shaft product portfolio.
The demand for automotive axles and propeller shafts is governed by increase in production and sales of vehicles globally and increase in customer demand for quieter cabin & increased comfort in vehicles. In addition, reduction in maintenance cost of the vehicle is another factor that drives the market. However, volatile price of raw material such as steel and alloy of carbon and aluminum used for manufacturing of axles and propellers slows down the market growth. Moreover, increase in demand of fuel efficient vehicle is expected to provide opportunity for the key players in this market to provide low cost and light weight products further increasing fuel efficiency of the vehicles. Increase in adoption of all wheel drive (AWD) vehicles mostly in North America and Europe has further spurred the demand for axles and propeller shafts.
The market is segmented on the basis of axle & propeller shaft type, vehicle type, and geography. Axle & propeller shaft type segment is further bifurcated into axle type (dead axle, live axle, and tandem axle) and propeller shaft type (single piece, multi piece, and slip in tube). Vehicle type segment is divided into two wheelers, passenger cars, and commercial vehicle. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is divided into U.S., Canada, and Mexico, whereas Europe is classified into Germany, France, Italy, U.K., and Rest of Europe. Asia-Pacific is further segmented into China, Australia, Japan, India, and Rest of Asia-Pacific. Latin America, Middle East, and Africa are considered under LAMEA.
The key players profiled in the report include American Axle & Manufacturing, Inc., ZF Friedrichshafen AG, Meritor, Inc., Dana Limited, SHOWA Corporation, IFA Rotorion, JTEKT Corporation, HYUNDAI DYMOS, GKN plc, Neapco Holdings LLC, CIE Automotive USA, Inc., Colfor Manufacturing, Inc., Dexter Axle Company, Fabco Automotive Corporation, NTK Precision Axle Corporation, Sypris Technologies, LLC, Westport Axle Corporation, and Magna International Inc.
BY AXLE & PROPELLER SHAFT TYPE
BY VEHICLE TYPE
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