What is Prop Shaft Market Scope?
Prop Shaft is a part of a vehicle that transfers the torque and mechanical power to different sections of the vehicle. The basic objective remaining same, the working of the prop shafts may differ with different vehicles. As they are the carrier of the torque from the engine to all the axels of the vehicle thus they are subjected to tear or breakage under high pressure and thus they need to be built with materials that can withstand heavyweight, extreme pressure due to high torque.
Influencing Trend:
Use of Lightweight Materials Like Light Weight Alloys to Manufacture Prop Shafts and Shift From Traditional 2 Wheel Configuration to 4*4, 6*4, and 6*6 Wheel Configuration
Market Growth Drivers:
Technological Shifts in the Automobile Industry have been the Key Drivers of Growth and Innovation in the Automotive Axle & Propeller Shaft Industry and Rising Middle-Class Income in Asia and Latin America has Accelerated the Growth of Automobile Market in This Region, and Thus Driven the Sale of Automotive Axle & Propeller Shaft
Challenges:
The innovation of New Technologies and New Materials to Manufacture Prop Shafts in Order to Lower the CO2 Emissions
Restraints:
High Import Duties and Increased Protectionism Policies on the Original Equipment Manufacturers
Opportunities:
Increasing Number of Automobile sales in emerging economies
The Prop Shaft market study is being classified by Type (Torque Tube Drive Shaft Type, Flexible Drive Shaft Type and Hotchkiss Drive Shaft Type), by Application and major geographies with country level break-up.
Strategic mergers and acquisitions, aggressive investment in research and development of new technologies and materials to be used in the manufacturing of next-gen environment-friendly and cost-effective shafts. Major American players like Dana and American Axle & Manufacturing Holdings dominate the prop shaft markets, while other industry leaders are GKN PLC, Hyundai Wia Corporation, and Bailey Morris. So, the market is quite rigid in terms of the hold of big players, and entrance for new players is extremely difficult. Analysts at AMA predicts that Vendors from United States will contribute to the maximum growth of Global Prop Shaft market throughout the predicted period.
Hyundai Wia (South Korea), Yamada Manufacturing Co., Ltd. (Japan), American Axle and Manufacturing Holdings Inc., Nexteer Automotive, Dana Holding Corporation, Neapco Holdings LLC (United States), Gkn Plc (United Kingdom), Ntn Corporation (Japan), Diequa Corporation, Jtekt Corporation (Japan) and Bailey Morris (United Kingdom) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Trelleborg Ab (Sweden), Norinco (China) and Gkn Driveshafts (India).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Prop Shaft market by Type, Application and Region.
On the basis of geography, the market of Prop Shaft has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their Development Strategies
In 2017, Dana Inc. announced the acquisition of 80% shares in Brevini's Fluid Power and Transmission Group, and Dana plans to acquire the rest 20% by 2020.
Euro Regulations are getting stricter due to stringent policies surrounding climate change and driver safety.
Key Target Audience
Automotive Axle & Propeller Shaft Manufacturers, Suppliers, and Distributers, New Entrants/Investors, Raw Material Suppliers, International and National Governmental Regulatory Bodies, Research and Consultancy Firms, Venture Funds and Private Equity Firms and Others
Prop Shaft Market Study: Important Years
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Prop Shaft Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Prop Shaft industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.