Automotive Axle & Propeller Shaft Market

The global automotive axle and propeller shaft market size is estimated to be USD 21.7 billion in 2020, which is projected to reach USD 25.4 billion by 2025, at a CAGR of 3.2%, driven mainly by the rising consumer demand for light, safe, and comfortable drive. Additionally, growing demand for fuel efficiency and increasing adoption of all-wheel drive (AWD) vehicles is likely to result in the growth of the axle and propeller shaft market.

The automotive axle and propeller shaft market is dominated by a few global players and comprises several regional players. Some of the key players in the automotive axle and propeller shaft market are ZF Friedrichshafen AG (Germany), American Axle & Manufacturing Holdings, Inc. (US), Dana Incorporated (US), GKN PLC (UK), Showa Corporation (Japan), JTEKT Corporation (Japan), Hyundai Wia Corporation (South Korea), IFA Rotorion Holding GmbH (Germany), and Gestamp Automocion (Spain). The key strategy adopted by the leading players to gain traction in the market was new product innovation and development. For instance, In Feb 2020, Gestamp has developed lightweight chassis that meet safety norms and supply to upcoming vehicle models of Skoda and Volkswagen from 2021 in India. Gestamp is expected to supply the subframe and front control arm for both German OEM vehicle models

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Expansions were also adopted by axle and propeller market players to cater to the growing demand from customers. In December 2019, American Axle & Manufacturing (AAM) announced the expansion of its driveline segment for RAM heavy-duty trucks and now supplies both, front & rear axle and driveshafts for Ram 2500 Heavy Duty, Ram 3500 Heavy Duty, Ram 3500 Chassis Cab, Ram 4500 Chassis Cab, and Ram 5500 Chassis Cab trucks.

ZF Friedrichshafen AG (Germany) adopted new product development and expansion as key strategies to retain its leading position in the axle and propeller shaft market. In February 2019, ZF’s AxTrax AVE electric portal axle was honored with the 2019 EBUS Award in the category “Drives for Battery Buses.” AxTrax AVE electric portal axle makes it easier for bus manufacturers and public transport authorities to switch over to quiet, zero local emission drives. This driven axle can be operated in all-electric not only by battery or overhead lines but also in hybrid or fuel cell configurations. Further, as a part of the expansion strategy, ZF expanded its engineering center in Shanghai, China. The Engineering Center focuses on driveline and chassis technologies for all applications, with e-mobility being the primary focus—an area of significant growth in China. The new facility will enable the company to develop advanced technologies for the Asian market quickly.

On the other hand, Dana Incorporated (U.S.) adopted new product development and expansion strategies to sustain its market position. In February 2020, Dana Launched the production of the Spicer Electrified eS9000r e-Axle for class 4 and class 5 commercial vehicles in North America and is the only supplier to manufacture all components in a system such as an axle, motor, gear, and invertor. Further, in April 2019, Dana started the production of the Spicer AdvanTEK Ultra Axle System in China. Engineered for passenger cars and vans, crossovers, and SUVs, the Spicer AdvanTEK Ultra axle delivers best-in-class fuel efficiency across all torques, speeds, and temperatures without tradeoffs for durability or comfort. It leverages ultra-low viscosity lubricants while maintaining gear durability and life to achieve up to 45% reduction in energy loss compared with a typical axle.

Related Reports:

Automotive Axle & Propeller Shaft Market by Axle Type (Live, Dead & Tandem), Axle Position (Front & Rear), Propeller Shaft Type (Single & Multi-Piece), Passenger Car Propeller Shaft Material (Alloy & Carbon Fiber) and Region - Global Forecast to 2025

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