Automotive Axle and Propeller Shaft Market

Global Automotive Axle and Propeller Shaft Market Size 

The global automotive axle and propeller shaft market was valued at USD 24.77 billion in 2024 and is anticipated to reach USD 25.56 billion in 2025 from USD 32.89 billion by 2033, growing at a CAGR of 3.20% during the forecast period 2025 to 2033.

The axles bear the whole weight of the automotive, cargo, and travelers, and live axles play out the extra role of transmitting the torque to the wheels. A propeller shaft can transmit torque and revolution to different parts of the drive train.

In the vehicle plan, the vehicle design delineates where on the vehicle the motor and drive wheels are found. A few different mixes of driven wheels and engine location are incorporated into practice, and the situation of each is dependent on the use for which the engine automobile will be used. Attributes controlling the arrangement alternative include cost, multifaceted design, consistency, packaging, mass production, and the engine automobile expected to deal with factors.

The worldwide vehicle axle & propeller shaft market is, and is large, firmly determined by the increasing automobile production all around and developments in design that are centered on supportability and eco-friendliness. The growth of this market is additionally invigorated by the flourishing aftermarket interest in vehicle axles and propellers in developing nations. Furthermore, a decrease in the general support of the automobile is another factor triggering the worldwide market demand. The interest in vehicle axles and propeller shafts is represented by an increase in production and sales of cars internationally and an increase in client interest for quieter ride & expanded comfort in automobiles.

MARKET DRIVERS

The rise in interest in eco-friendly automobiles is likely to offer an opportunity for the major players in this market to offer reduced expense and lightweight items that additionally maximize the fuel efficiency of motors. Furthermore, lessening the maintenance price of the automobile is another variable that fuels the market. The increased need for axle & propeller shafts for the vehicle market is managed by an increase in the manufacture and sales of engine automobiles globally, an increase in consumer interest in the calm log cabin, and a concentrating on convenience. 

MARKET RESTRAINTS

Moreover, the volatile cost of raw materials, for example, steel and alloy of carbon and aluminum utilized for the production of axles and propellers, hinders the market development.

REPORT COVERAGE

SEGMENT ANALYSIS

By Type Insights

Single-piece propeller shaft leads the automotive axle and propeller shaft market during the estimated time frame. The variables that fuel the development of this sector are price-effectiveness as well as its overall durability. The single-piece propeller shaft is utilized more than the multi-piece propeller shaft, mainly due to its reduced weight with increased fuel efficiency. The single-piece propeller shaft becomes an ideal alternative for the shorter distance between the motor and the rear axle. 

Live axle is anticipated to account for the most significant share of the market during the foreseen period between 2020 and 2025. The live axle fuels the wheel attached to it, alongside supporting the weight of the vehicle. Rising customer preference towards SUVs and RWD passenger vehicles, as well as steady development in total automobile manufacturers, has boosted the growth of the live axles market.

By Vehicle Insights

Axle and propeller shaft market for passenger cars is dominating among other automobile types and is estimated to maintain its dominance through the estimated time frame, 2020-2025. This is primarily because of the increase in the number of passenger automobiles in nations, for example, China, India, the U.S., the UK, and Japan.

REGIONAL ANALYSIS

The study projects Asia Pacific as the biggest customer for the automotive axle & propeller shaft market during the estimated time frame. The area is the worldwide leader in automobile manufacture, with product development of about 26%–28% over the past five years for passenger vehicles and commercial automobiles. China has been the dominating vehicle market for automobile manufacturers as well as sales in this locale. According to OICA, China, alongside Japan and India, accounted for almost 44% of worldwide automobile production in 2018.

KEY MARKET PLAYERS

Meritor, Inc., ZF Friedrichshafen AG, IFA Rotorion - Holding GmbH, American Axle & Manufacturing Holdings, Inc., Gestamp, Dana Incorporated, GKN PLC, Jtekt Corporation, RSB Group, Showa Corporation, Hyundai Wia Corporation. These are the market players that are dominating the global axle and propeller shaft market.

RECENT HAPPENINGS IN THE MARKET 

• Several hundred new railcars are being furnished with the inventive lightweight ZF gearbox: E-Rail SH 11 F-N. On account of its aluminum construction, it is 15 percent lighter than the items that are currently available on the North American market. Volume manufacturing of the item custom-fitted to satisfy the nearby prerequisites is done in the US.
• MarineShaft provides fix administrations for marine propeller shafts, including straightening. Even the most extreme twists can be set. Regularly, similar straightness as another shaft can be accomplished, and regardless of where on the planet the propeller/rudder harm happens, a fixing is frequently the most beneficial solution.
• The Propeller shaft introduced by Jtekt corporation offers a three-partition structure, and slide-type steady speed widespread joints are perceived to enhance serenity.
• The Bosch eAxle is an across-the-board electrical powertrain. Its parts — electric engine, powerful hardware, and transmission — are joined in a single conservative framework. That lessens the number of components, spares space, and makes the powertrain unit less mind-boggling — all of which improves efficiency and cuts expense.

MARKET SEGMENTATION 

This research report on the global automotive axle and propeller shaft market is segmented and sub-segmented into the following categories.

By Type

• Axle Type
  • Dead axle
  • Live axle
  • Tandem axle
• Propeller shaft type
  • Single piece 
  • Multi-piece 
  • Slip in the tube 

By Vehicle Type

• Two-wheelers
• Passenger cars
• Commercial vehicle

By Region

• North America 
• Europe
• Asia Pacific 
• Latin America 
• Middle East and Africa