Press release
Automotive Axle & Propeller Shaft Market : Single Piece Propeller Shaft to Surpass at CAGR 6.5% From 2021-2030 AMR
According to a new report published by Allied Market Research, titled, "Automotive Axle & Propeller Shaft Market," The automotive axle & propeller shaft market was valued at $29.3 billion in 2020, and is estimated to reach $45.3 billion by 2030, growing at a CAGR of 4.6% from 2021 to 2030.Asia-Pacific is expected to dominate the automotive axle & propeller shaft market owing to increase in demand for passenger vehicles from China, Japan, and India. In January 2021, vehicle sales in China experienced rise of 29.5% as compared to the previous year. Greater vehicle production in the emerging economies of China, Japan, Taiwan, and India, coupled with increased adoption of fuel efficient vehicles contribute to the market growth in Asia-Pacific.
The adoption of electric vehicles has been observed across the world. Several manufacturers are developing lightweight parts axles in order to improve performance of electric vehicle. Moreover, manufacturers are also developing & integrating aluminum based parts in automobiles as it aids in reduction in weight of vehicle. Henceforth, rise in adoption of electric vehicle is one of the factors that drive the growth of the market.
Download Report (230 Pages PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/1744
Covid-19 Scenario:
The Covid-19 pandemic forced many countries to implement lockdown restrictions. This resulted to disruptions in supply chain and created shortage of automotive parts & suspension of production activities of vehicles across the globe. The demand for axle & propeller shafts reduced from the automotive sector.
Post-lockdown, the sales for electric car experienced a significant growth, witnessing the growth of nearly 109% in 2021. This growth in sales of electric vehicle led to rise in demand for automotive axle and propeller shaft and led to the growth of the market.
The report offers detailed segmentation of the global automotive axle & propeller shaft market based on type, vehicle type, sales channel, and region.
Request for Customization at https://www.alliedmarketresearch.com/request-for-customization/1744
Based on type, the live axle segment contributed to the largest share in 2020, accounting for more than half of the total market share, and is estimated to maintain its lead position during the forecast period. However, the single piece propeller shaft segment is expected to manifest the highest CAGR of 6.5% from 2021 to 2030.
Based on sales channel, the original equipment manufacturer segment held the highest share in 2020, accounting for more than 90% of the global automotive axle & propeller shaft market. However, the aftermarket segment is estimated to witness the fastest CAGR of 6.5% during the forecast period.
Interested to Procure the Data with Actionable Strategy & Insights? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/1744
Based on region, Asia-Pacific accounted for the largest share in 2020, contributing to nearly two-fifths of the total market share, and is estimated to continue its leadership status by 2030. However, Europe is projected to portray the fastest CAGR of 5.5% during the forecast period.
Leading players of the global automotive axle & propeller shaft market analyzed in the research include American Axle & Manufacturing, Inc., Gestamp Automocion, Dana Incorporated, Hyundai Wia Corporation, S.A., Hitachi, Ltd., JTEKT Corporation, IFA Group, Meritor, Inc., Melrose Industries Plc, and ZF Friedrichshafen AG.
Buy Complete Report Now! https://www.alliedmarketresearch.com/checkout-final/37405f3e37b574d341c107ab78fc64fb
Similar Reports We Have on Automotive Industry:
Commercial Vehicle Axles Market - https://www.alliedmarketresearch.com/commercial-vehicle-axles-market
Trailer Axle Market - https://www.alliedmarketresearch.com/trailer-axle-market
Automotive Transaxle Market - https://www.alliedmarketresearch.com/automotive-transaxle-market-A13884
Contact -
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Automotive Axle & Propeller Shaft Market : Single Piece Propeller Shaft to Surpass at CAGR 6.5% From 2021-2030 AMR here
News-ID: 2780561 • Views: …
More Releases from Allied Market Research
Winter Footwear Market 2026 : Expeditious Growth Expected in 2021 - 2031 | UGG, …
According to a new report published by Allied Market Research, titled, "Winter Footwear Market," The winter footwear market was valued at $8.6 billion in 2021, and is estimated to reach $13.6 billion by 2031, growing at a CAGR of 4.7% from 2022 to 2031.
"Numerous varieties of winter footwear are expected to boost the market growth in the foreseeable future. Moreover, incorporation of customization, as well as innovative winter footwear is…
Ergonomic Chair Market Research Insights: Uncovering CAGR and USD Growth Drivers …
An ergonomic office chair is mostly utilized in different firms and other business areas where employees operate in a sitting position for extended hours. Adjustable seats, brackets and natural postures, which minimize back discomfort and stress in the lengthy seating time, are the ergonomic chairs. Currently, the offices are selecting ergonomic office chairs over the standard office chair to make the workplace healthier, happier, and to boost employer productivity. The…
Ethnic Wear Market Forecasting Essentials: Interpreting CAGR and USD Projections …
According to a new report published by Allied Market Research, titled, "Ethnic Wear Market," The ethnic wear market size was valued at $89.3 billion in 2021, and is estimated to reach $177.2 billion by 2031, growing at a CAGR of 7.2% from 2022 to 2031.
The market for ethnic wear is mostly driven by the rising number of fashion influencers across the globe. It is difficult to overlook the importance of…
$8.9+ Billion Commercial Janitorial Equipment Market Value by 2031 with a 4.6% C …
According to a new report published by Allied Market Research, titled, "Commercial Janitorial Equipment Market," The commercial janitorial equipment market size was valued at $5.7 billion in 2021, and is estimated to reach $8.9 billion by 2031, growing at a CAGR of 4.6% from 2022 to 2031. There has been a surge in the number of restaurants, hotels, and hospitals across the globe, which further contribute to the demand for…
More Releases for Axle
Rising Electric Vehicle Adoption Fuels Growth In Rear Electric Axle (E-Axle) Mar …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
How Large Will the Rear Electric Axle (E-Axle) Market Size By 2025?
In recent years, the market size for the rear electric axle (E-Axle) has seen an overwhelming surge. The market that was valued at $47.24 billion in 2024 is predicted to rise to a whopping $57.79 billion in…
Key Influencer in the Rear Electric Axle (E-Axle) Market 2025: Rising Electric V …
What Is the Forecasted Market Size and Growth Rate for the Rear Electric Axle (E-Axle) Market?
Recent years have seen the market size for the rear electric axle (E-Axle) surge tremendously. Its growth is projected to escalate from $47.24 $ billion in 2024 to $57.79 $ billion in 2025, with a compound annual growth rate (CAGR) of 22.3%. Several factors have contributed to this growth in the historic era including the…
Trailer Axle Market Reliable and Efficient Axle Systems for Trailers | Hendricks …
Trailer Axle Market 2023 Forecast: Unveiling Opportunities and Growth
Global "Trailer Axle Market" is an exploration report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. These bits of knowledge offered in the Trailer Axle Market report would benefit request players to define systems for the future and gain a…
Automotive Axle & Propeller Shaft Market : Live Axle, Dead Axle, Tandem Axle, Si …
The automotive axle & propeller shaft market was valued at $29.3 billion in 2020, and is estimated to reach $45.3 billion by 2030, growing at a CAGR of 4.6% from 2021 to 2030.
Asia-Pacific is expected to dominate the automotive axle & propeller shaft market owing to increase in demand for passenger vehicles from China, Japan, and India. In January 2021, vehicle sales in China experienced rise of 29.5% as compared…
Driving Axle Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by …
With the increasing commercialization of new technologies for reducing the overall vehicle weight as well as boosting automotive production to meet the growing living standard of the populations are the primary factor anticipated to bolster the driving axle market in the forecast period. Furthermore, the growing requirement of long trailers and heavy commercial vehicles, particularly in North America and Europe, is anticipated to increase the driving axle market.
Download Sample Copy…
Growing Trends in Truck Axle Market 2019 by Types like Variable Truck Axle, Adju …
Global Truck Axle Market report includes the estimation of market size by value (million USD) and volume (K Units) along with top-down and bottom-up approaches have been used to examine and validate the market size of Truck Axle market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares splits, and breakdowns have been…
