Automotive Propeller Shaft Market 2018 Global Industry Analysis By Growth Statistics, Share, Size, Company - ZF Friedrichshafen, American Axle, Meritor, Showa, GKN, Wilson drive shafts, Nexteer Automotive, JTEKT, Gestamp, Dana Holding, D & F Propshafts, B

Automotive Propeller Shaft Market to grow at 8.50% CAGR by 2023. Automotive propeller shaft is a mechanical component that is used to drive the wheels and transmitting torque. The propeller shaft is usually used to connect other components of the drive train that cannot be connected directly due to far distance between the two components.

Market Research Future published research report on global automotive propeller shaft market. Automotive Propeller Shaft market is expected to grow at the CAGR of around 8.50% during the period 2017 to 2023.

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The factors that are responsible for the growth of automotive propeller shaft market are technology innovation in the materials, growth in the automotive industry, and increase in the sales of the new vehicle. The innovation in technology in the automotive propeller shafts, is expected to drive the market in future. Innovation such as light weight propeller shaft, have emerged in order to reduce the overall weight of the vehicle. The increase in sales of new vehicle will result in growing use of propeller shaft in the vehicle in order to drive the vehicle. It is an important component of the vehicle because it provide torque and allows the movement of the vehicle.

The automotive propeller shaft market is segmented based on position, type, propeller shaft type, and material. On the basis of position type, the market has been segmented as front, rear, and inter-axle propeller shaft. The front wheel propeller shaft is expected to dominate the automotive propeller shaft market during the forecast period because it is the most preferred over other types. This will improve the aerodynamics of the vehicle. On the basis of type, the market has been segmented as live, dead, and tandem axle. The live axle segment is expected to dominate the market during the forecast period because it provides increased optimization of vehicle performance and higher torque. On the basis of propeller shaft type, the market is segmented as single, multi piece, and other. Multi piece propeller shaft is expected to dominate the market during the forecast period as it improves efficiency of vehicles.

This study provides an overview of the global automotive propeller shaft market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global rear spoilers market by its position, type, propeller shaft type, and material, and region

On the basis of region, the market has been segmented into the regions of North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific is expected to dominate the market during the forecast period due to an increase in the production of vehicles in emerging regions such as India, and China. The development in automotive industry have led to the emergence of new and high-tech automotive technology, which will attract the interest of the consumers. The increasing safety concerns among consumers drives them towards the safety and quality of automotive propeller shaft. The standard technology offered by the small automotive installation service provider, will be replaced by specialized automotive propeller shafts so as to meet the market expectation.

Browse more details on this report at: https://www.marketresearchfuture.com/reports/automotive-propeller-shaft-market-5370

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