Automotive propeller shaft Market Size Industry Analysis, Size, Trends, Growth and Outlook

The Asia Pacific region leads the global Automotive propeller shaft market. The largest market share attributes to the increasing demand for propeller shaft among both OEMs and aftermarket replacement. Also, substantial R&D investments for product development, advances in material technologies, and increased vehicle sales drive the regional market growth.

Besides, the region with its raw material advantages attracts foreign investors and therefore witnesses increasing the numbers of production plants. Moreover, the continually rising economy and population in the region accelerate the Automotive propeller shaft market sales. China leads the APAC Automotive propeller shaft market, followed by India.

Europe stands second in the global Automotive propeller shaft market. The market is driven by the presence of several Automotive technology providers in this region. Europe is the global hub for automobile research and innovation, which positively impacts the regional market's growth. Furthermore, enormous advances in Automotive technologies and the rising economic growth in the region propel market growth. Additionally, the large and well-established Automotive sectors in the region substantiate the growth of the market.

Also, increased vehicle safety concerns influence the growth of the regional market. Furthermore, strict government standards for vehicle safety influence market growth in the region. The European Automotive Propeller Shaft market is projected to create an immense revenue pocket during the assessment period.

North America is also a considerably large market for Automotive propeller shafts, globally. The development of reduced weight shafts and increasing demand from the transportation sector are the latest propeller shaft market trends. Besides, factors such as the growing significant GDP and high per capita income of demographics foster the regional market's growth. Moreover, favorable government policies, leading OEMs, and well-developed automobile infrastructures in the region influence the Automotive propeller shaft sales.

Automotive Propeller Shaft Market – Competitive Analysis

Highly competitive, the Automotive propeller shaft market appears diversified with the presence of several well-established players. To gain a larger competitive share of the market, innovation, mergers & acquisitions, and brand reinforcement remain key trends for propeller shaft manufacturers.

Major Players:

Players leading the Automotive propeller shaft market include American Axle & Manufacturing, Inc. (U.S.), ZF Friedrichshafen AG (Germany), Meritor, Inc. (U.S.), GKN plc (U.K.), Showa Corporation (Japan), Wilson drive shafts (England), JTEKT Corporation (Japan), Nexteer Automotive (U.S.), Gestamp (Spain), D & F Propshafts (U.K.), Dana Holding Corporation (U.S.),