DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Automotive Axle & Propeller Shaft Market by Position (Front, Rear, and Inter-Axle Propeller Shaft), Axle Type (Live, Dead, and Tandem Axle), Propeller Shaft Type (Single, and Multi Piece), Material (Alloy, and Carbon Fiber) - Global Forecast to 2021" report to their offering.
The global axle and propeller shaft sales is estimated to grow at a CAGR of 8.22%, to reach USD 58.07 billion during 2016-2021 period.
Growing adoption of AWD vehicles, growth in vehicle production as well as advancement in engineering to enhance vehicle performance and fuel efficiency are estimated to drive the market. However, fluctuating raw material prices and pricing pressure from automotive OEM's are expected to be major challenges for axle and propeller shaft manufacturers.
Carbon fiber composites are being used in automotive components owing to their structural advantages over their metallic counterparts. These include lower weight and higher strength, which are of vital importance to the OEMs. The cost is expected to decline with mass adoption and improved manufacturing process, which is projected to make carbon fiber propeller shaft more competitive in the marketplace. These factors would make the carbon fiber propeller shaft segment to be one of the fastest growing markets.
Asia-Oceania is estimated to be the largest market for axles and propeller shafts, and is projected to grow at the highest rate from 2016-2021 period. In recent years, the region has emerged as a hub for automobile production. Infrastructural developments and industrialization activities in emerging economies have opened new avenues, creating several opportunities for OEMs along with automotive component suppliers.
Players Profiled in the Report are:
- Meritor, Inc. (U.S.)
- ZF Friedrichshafen AG (Germany)
- American Axle & Manufacturing Holdings, Inc. (U.S.)
- Dana Incorporated (U.S.)
- GKN PLC (U.K.)
- Showa Corporation (Japan)
- Hyundai Wia Corporation (South Korea)
- Gestamp (U.S.)
- JTEKT Corporation (Japan)
- IFA Rotorion - Holding GmbH (Germany)
- RSB Global (India)
- Voluminous Increase in the Number of Subscribers
- Need for High Optimization and Increased Cost Savings
- Ability to Measure the Performance of A Service and Quality of Service
- Resistance to Adoption of New Technologies
- Data Privacy Issues
- Emergence of Highly Technical and Complex Technologies
- Increased Competition in Developed Regions
- Lack of Support and Integration Concerns Across Multiple Vendors and Technologies
For more information about this report visit http://www.researchandmarkets.com/research/4jcbzz/automotive_axle