Asia-Oceania comprises of emerging and developing economies such as India, China, Thailand, and Indonesia and is witnessing huge population growth. The automotive industry is witnessing a growth in demand after a weak performance in 2008 following a global economic downturn. Global OEMs are investing in this region, given the new market opportunities with regard to the nascent stage of the market. Rising income levels of the population is driving growth in the automotive industry. This has resulted in a spurt in demand for axles and propeller shafts. Major suppliers such as Showa Corporation (Japan) and globally established players such as ZF Friedrichshafen AG (Germany) have a good presence in this region.
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Europe is a major established market for axles and propeller shafts and is projected to witness stable growth. A major growth driver is estimated to be stringent fuel-economy norms which would encourage research to develop lightweight solutions for vehicles. The production levels in Germany, the U.K., and France are estimated drive demand for axles and propeller shafts. Rising preference for comfort while driving by end-users would also positively impact the demand for better quality of axles and propellers. Europe is home to major suppliers such as Robert Bosch GmbH (Germany) and Gestamp (Spain), who supplies axles and propeller shafts for automotive applications.
North American region comprises of the U.S., Canada, and Mexico and is witnessing growth in automotive demand, which is positively impacting the automotive components industry. Growth in these markets has resulted in an increase in demand for axles, as it is an integral component for automotive applications. North America is a major market for the axle and propeller shafts market, following am increase in production of vehicles, especially SUVs for general and off-road applications. Major suppliers such as Meritor, Inc. (U.S.), American Axle & Manufacturing, Inc. (U.S.) operate in this region to serve the increasing demand.
The report covers the axle and propeller market in terms of volume (‘000 units) and value ($million) across regions such as Asia-Oceania, Europe, North America, and the Rest of the World (RoW). It explains qualitative and quantitative aspects of axles and propellers with respect to position and types. The report briefly explains the automotive axle and propeller market on the basis of geography, from 2014 to 2019.
The report also shows an overview of the technical, as well as other important aspects of the global axle and propeller market. It includes the analysis of the value chain, Porter’s Five Force model, competitive landscapes, and company profiles. In addition to this, 10 key players in the market have also been profiled.
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