Dublin, March 24, 2015 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/qx87jj/automotive_axle) has announced the addition of the "Automotive Axle & Propeller Shaft Market by Position, Axle Type, Propeller Shaft Type, Material, & by Region- Forecast and Analysis to 2019" report to their offering.
The global automotive axle & propeller market size in terms of value is estimated to be $35.8 billion in 2014, which is projected to grow to $53.3 billion by 2019 at a CAGR of 8.25%.
The growing demand of automobiles for daily commuting has resulted in a direct increase in demand for axles. Axles form an integral component for load bearing, steering, and driving the vehicle. Axles can be live or dead, based on the application and drivetrain of the vehicle. The functioning of the axles depends on the position of the axle in the vehicle. Heavy Commercial Vehicles (HCV) may integrate more than two axles depending on the application and role of the vehicle. Propeller shaft helps transfer the power from the engine to the wheels and plays a vital role in the drivetrain of the vehicle. The vehicle's architecture and powertrain dictates the position of the propeller shaft.
Most automobiles use steel alloy for propeller shafts and axles. However, following increasing stringency of fuel-efficiency regulations, suppliers are focusing on implementing lightweight materials in their products; without sacrificing strength. The use of aluminum and carbon fiber has been limited in these components due to higher cost. With increasing demand for fuel-efficiency, lightweight materials are expected to witness increasing adoption in the automotive industry.
The Asia-Oceania and North American regions are growing at a good pace, given the increasing automotive production in these regions. Growing purchasing power, low penetration of automobiles, and infrastructure development in emerging nations such as China, Brazil, and India has resulted in an increase in demand for personal transportation and commercial vehicles. Asia-Oceania is estimated to be the largest market for axles and propeller shafts and is projected to grow at the highest rate from 2014-2019.
Global axle & propeller market is dominated by few top players such as ZF Friedrichshafen AG (Germany), American Axle & Manufacturing, Inc. (U.S.), Meritor, Inc. (U.S.), Showa Corporation (Germany), and GKN plc (U.K.) along with regional suppliers.
Key Topics Covered:
1.Introduction
2.Research Methodology
3.Executive Summary
4.Premium Insights
5.Market Overview
6.Automotive Axle Market, By Type
7. Automotive Axle Market, By Position
8. Automotive Propeller Shaft Market, By Position
9. Passenger Car Propeller Shaft Market, By Material
10.Automotive Axle & Propeller Shaft Market, By Region
11. Competitive Landscape
12.Company Profiles
- American Axle & Manufacturing, Inc.
- Dana Limited
- GKN Plc
- Gestamp
- Hyundai Wia Corporation
- IFA Rotorion
- Jtekt Corporation
- Meritor, Inc.
- Showa Corporation
- ZF Friedrichshafen Ag
For more information visit http://www.researchandmarkets.com/research/qx87jj/automotive_axle
Automotive Axle & Propeller Shaft Market - Forecast and Analysis to 2019 for the $50+ Billion Industry
| Source: Research and Markets