The Global Vehicles Propeller Shaft Market size is estimated to grow at a CAGR of 5.9% during the forecast period (2021-2028). The growth in this market can be attributed to the demand for vehicles propeller shafts from emerging economies such as China and India, coupled with an increase in investments in research & development activities by leading players across the globe.
Vehicles Propeller Shaft can be defined as the shaft that connects the engine with the wheels. It is an integral part of a motor vehicle's drivetrain, linking between the transmission (gearbox) and axle to provide rotational force from one end to another.
It helps in transmitting power produced by the engine or other driving source through gears located at either end for rotating one or more axles horizontally so as to propel it forwards on land, over water, across the ice, up steep inclines; this can be achieved using just about any combination of two powerful drivers: animals like horses and oxen when working alongside humans, sails powering windmill-driven grindstones grinding grain into flour where there was no animal help available or steam engines powered by coal providing a source of power.
On the basis of Types, the market is segmented into Small Series, Medium Series, and Heavy Duty Series. Large or heavy vehicles use these shafts for the transmission of power to axles.
Small Series Propeller shafts are small and lightweight with the diameter ranging between 12-16 inches. These types of propellers require a low bearing load capacity because they rotate at such high speeds. Small series prop shafts can be found in gasoline or diesel engines, water pumps, as well as other light-duty applications.
The medium series is the second-largest subsection of the general category and it includes propeller shafts that are designed to perform well in a wide variety of applications. They have large power ratings, but they can also be used for smaller transmissions.
Heavy Duty Series are propeller shafts that can withstand tough conditions like high speed and high torque. These shafts are often used in heavy-duty vehicles such as trucks, buses, or tractors with capacities of over 1500 kg payload capacity per axle load. They are the most used propeller shafts in the automotive industry. It is constructed with a heavy wall pipe, which makes it more durable and suitable to drive larger engines.
On the basis of Application, the market is segmented into Automotive, Manufacturing, Machinery & Equipment, and others.
Vehicles propeller shafts are used in many different vehicles. The most common type of vehicle is the automobile, and it usually has a front-wheel-drive layout with either an internal combustion engine or electric motor providing power to the wheels. Propellers are found on other types of vehicles including motorcycles, trucks, buses, trains, and more.
The vehicle's propeller shaft is used in manufacturing to power various machines like lathes, milling machines, and drill presses. The manufacture of vehicles requires a lot more work than the production of cars alone; it also includes producing other parts such as seats, door panels, and bumpers. Propeller shafts are connected to these machines through gears or pulleys that allow them to turn at the same speed giving smoother operation since they're not working against each other.
The propeller shaft is used in various machinery and equipment as it can withstand axial loads, bending moments, thrust forces, or shear forces. The use of the vehicle propeller shaft helps to transfer power from one end to the other without any damage which may happen due to wear.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The North American market is expected to witness significant growth over the next decade owing to increasing manufacturing activities and technological advancements.
The Asia Pacific market is anticipated to be one of the fastest-growing markets due to a rise in demand for automotive vehicles across emerging economies such as India, China, Indonesia, Thailand, etc.
Europe offers huge potential for future investments with its favorable economic conditions coupled with an upsurge in vehicle production. The Middle East & Africa region has low penetration levels but high potential owing to rapid industrialization and modernization initiatives undertaken by countries such as Saudi Arabia, Turkey, etc.
The key driving factors for the growth of this market are the rising demand for vehicles with propeller shafts in the global automotive market. Moreover, increasing sales of automobiles are boosting the demand for manufacturers to use high-quality materials and components. In addition, technological advancements have enabled engineers to develop lighter-weight propelling shafts which is also contributing towards increased vehicle fuel efficiency.
Up Market Research published a new report titled “Vehicles Propeller Shaft Market research report which is segmented by Types (Small Series, Medium Series, Heavy Duty Series), By Applications (Automotive, Manufacturing, Machinery & Equipment, Other), By Players/Companies GKN, Dana, IFA Group, Meritor, AAM, JTEKT Corporation, Xuchang Yuandong Drive Shaft, Wanxiang Qianchao Co., Ltd., Neapco Components, LLC, Showa Corporation, GSP Automotive Group Wenzhou Co., Ltd., Elbe Holding GmbH & Co. KG, Gewes, Taier Heavy Industry Co., Ltd, WiCHMANN GmbH”.
Report Attributes | Report Details |
Report Title | Vehicles Propeller Shaft Market Research Report |
By Type | Small Series, Medium Series, Heavy Duty Series |
By Application | Automotive, Manufacturing, Machinery & Equipment, Other |
By Companies | GKN, Dana, IFA Group, Meritor, AAM, JTEKT Corporation, Xuchang Yuandong Drive Shaft, Wanxiang Qianchao Co., Ltd., Neapco Components, LLC, Showa Corporation, GSP Automotive Group Wenzhou Co., Ltd., Elbe Holding GmbH & Co. KG, Gewes, Taier Heavy Industry Co., Ltd, WiCHMANN GmbH |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 211 |
Number of Tables & Figures | 148 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Small Series, Medium Series, Heavy Duty Series and By Application Automotive, Manufacturing, Machinery & Equipment, Other.
Some of the companies that are profiled in this report are:
Vehicles Propeller Shaft Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Vehicles Propeller Shaft Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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