Automotive Propeller Shaft Market 2019 Global Industry Growing At Highest CAGR From 2019 To 2023

Automotive Propeller Shaft Market is predicted to grow at approximately 5.50% CAGR by 2023. Automotive Propeller Shaft Market Information Report By Position (Front, Rear, and Inter-Axle Propeller Shaft), By Type (Live, Dead, and Tandem Axle), By Propeller Shaft Type (Single, Multi Piece, and Other), By Material (Alloy, and Carbon Fiber), and By region.

The key players in automotive propeller shaft market are ZF Friedrichshafen AG (Germany), American Axle & Manufacturing, Inc. (U.S.), Meritor, Inc. (U.S.), Showa Corporation (Japan), GKN plc (U.K.), Wilson drive shafts (England), Nexteer Automotive (U.S.), JTEKT Corporation (Japan), Gestamp (Spain), Dana Holding Corporation (U.S.), D & F Propshafts (U.K.), Bailey Morris limited (England), B & F limited (U.K.), American Axle & Manufacturing Holdings, Inc. (U.S.), and Hyundai Wia Corporation (South Korea).

Sample Report On “Automotive Propeller Shaft Market available at: https://www.marketresearchfuture.com/sample_request/5370

Market Highlights:

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.

This will create an opportunity for the specialized automotive market to meet the standard for the automotive propeller shaft. Europe is expected to be the second largest market for automotive propeller shaft market due to stringent norms for fuel economy, which will increase the investment in the research and development. The rise in investment in research and development for developing light weight component, is expected to drive the growth of this region in future. In Europe, there has been an increase in the preference for comfort ride by the customers, which will increase the demand for high quality propellers. North America is expected to be the third largest market during the forecast period. North America is one of the major producers of automotive propeller shafts due to the big giants in the region.

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.

Moreover, the rising demand for passenger cars have increased the demand for automotive propeller shaft, which has augmented the North American market. In North America, U.S. is expected to account for the largest market share during the forecast period. Owing to the presence of major automobile companies the demand for automotive propeller shaft has improved the market growth. U.S. is considered a mature economy but is still has a demand for passenger cars, LCV and HCV due to the rising immigrants. This will result in the growth of the market during the forecast period.

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

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