Medium & Heavy Commercial Vehicles Axle & Propeller Shaft Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Axle Type (Live, Dead, Tandem), By Propeller Shaft Type (Single Piece, Multi Piece), By Demand Category (OEM, Aftermarket) By Region, By Competition, 2018-2028
Published Date: April - 2025 | Publisher: MIR | No of Pages: 320 | Industry: Automotive | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request Customization| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 10 billion |
| CAGR (2023-2028) | 6.57% |
| Fastest Growing Segment | Tandem |
| Largest Market | Asia-Pacific |
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Market Overview
Global Medium & Heavy Commercial Vehicles Axle & Propeller Shaft Market was worth USD 10 Billion in 2022 and is expected to project strong growth in the forecast period with a CAGR of 6.57% during 2028.
The performance of a vehicle largely depends on the axles and propeller shafts of the vehicle. Live axles also perform the additional duty of providing the torque to the wheels as well as carrying the whole weight of the vehicle, cargo, and passengers on the axles. Along with the other components of the drive train, a propeller shaft's function is to provide torque and rotation. Increased global automobile production along with engineering improvements that are focused on sustainability and fuel economy are significant market drivers for axles and propeller shafts. The phenomenal after-market demand for automobile propellers and axles in the emerging countries is a significant driver of this market's growth.
Key Market Drivers
Regulatory Compliance and Emissions Standards
The Global Automotive Medium & Heavy Commercial Vehicle Axle & Propeller Market is strongly driven by the regulatory landscape and emissions standards imposed by governments worldwide. Commercial vehicles play a significant role in global transportation, but they are also major contributors to air pollution and greenhouse gas emissions. As a result, governments have implemented stringent emissions regulations to mitigate environmental impact. Governments are increasingly focused on reducing air pollution and mitigating climate change. Stringent emissions standards and mandates for commercial vehicles are being enforced globally. These regulations drive manufacturers to develop cleaner and more fuel-efficient vehicles, including the optimization of axle and propeller systems to reduce energy losses and improve efficiency. Manufacturers are investing in emission control technologies such as selective catalytic reduction (SCR), exhaust gas recirculation (EGR), and diesel particulate filters (DPF). Axle and propeller systems contribute to the overall efficiency of these technologies by minimizing power losses and optimizing drivetrain performance. To meet emissions standards, many commercial vehicle manufacturers are exploring alternative fuels and powertrains. This includes the adoption of electric, hybrid, and hydrogen fuel cell technologies, which require innovative axle and propeller system designs to accommodate these new propulsion systems.
Electrification and Hybridization of Commercial Vehicles
The shift toward electrification and hybridization of medium and heavy commercial vehicles is a prominent driver in the axle and propeller system market. This trend is driven by environmental concerns, the desire for operational cost savings, and advancements in battery and electric motor technology. Electric commercial vehicles, often referred to as e-trucks, are gaining traction. They rely on electric motors for propulsion, and this shift necessitates specialized axle and propeller system designs to efficiently transmit power from the motors to the wheels. Hybrid commercial vehicles combine internal combustion engines with electric propulsion systems. Axle and propeller systems in these vehicles must facilitate the seamless transition between power sources, optimizing fuel efficiency and performance. As the electric commercial vehicle market grows, the availability and accessibility of charging infrastructure become essential. Axle and propeller systems must support the varying energy demands and regenerative braking characteristics of electric drivetrains.
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Safety and Advanced Driver Assistance Systems (ADAS)
Safety is a paramount concern in the commercial vehicle industry, and advanced safety features and driver assistance systems are driving developments in axle and propeller systems. Axle and propeller systems contribute to the effectiveness of ESC systems, which help maintain vehicle stability and prevent rollovers. Manufacturers are continuously enhancing the compatibility of these systems with axle and propeller components to improve vehicle safety. ABS relies on precise control of wheel speed, a function that is closely tied to axle and propeller systems. Manufacturers are continually improving the compatibility of these systems with ABS to enhance vehicle safety. Advanced Driver Assistance Systems (ADAS), including adaptive cruise control, lane-keeping assist, and collision avoidance systems, are becoming increasingly common in commercial vehicles. Axle and propeller systems provide critical data on vehicle dynamics and wheel speed, enhancing the performance of these systems.
Payload Efficiency and Transportation Demands
Commercial vehicles are essential for transporting goods and materials efficiently. This driver is related to the need to optimize payload capacities and operational efficiency. Axle and propeller systems must be engineered to handle higher payload capacities while maintaining efficiency. Enhanced load-bearing capabilities are crucial for the successful operation of these vehicles. Commercial vehicles are critical for industries such as logistics, construction, and agriculture. Higher payload capacities allow these vehicles to transport more goods in a single trip, improving commercial efficiency and reducing transportation costs. The integration of axle and propeller systems with advanced suspension systems is essential for ensuring optimal weight distribution, ride comfort, and handling when carrying heavy loads.
Urbanization and Last-Mile Delivery
Rapid urbanization and the growing demand for last-mile delivery services are significantly impacting the commercial vehicle market, including the design of axle and propeller systems. Urbanization is accompanied by a growing demand for goods and services in cities. Medium and heavy commercial vehicles are essential for fulfilling this demand, emphasizing the need for reliable drivetrain components. Commercial vehicles operating in urban environments need to maneuver through tight spaces, congested streets, and challenging traffic conditions. Axle and propeller systems must provide precise control and responsiveness to ensure safe and efficient operation. To address urban congestion and emissions concerns, some commercial vehicles are adopting alternative drivetrain technologies such as electric powertrains and hydrogen fuel cells. Axle and propeller systems must adapt to the unique requirements of these technologies.
Key Market Challenges
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Regulatory Compliance and Emissions Standards
The highly regulated environment is one of the main issues for the Global Automotive Medium & Heavy Commercial Vehicle Axle & Propeller Market. Governments across the globe are enforcing ever more stringent emissions standards to counter environmental issues and minimize the carbon footprint of commercial vehicles. The commercial vehicle market has operations in several nations, with each nation having its own emissions regulations and compliance needs. This diversity presents a major challenge for manufacturers since they have to design axle and propeller systems that will fulfill multiple standards at the same time. Emissions standards are constantly changing, tightening up over time. Manufacturers have to spend lots of money on research and development to be able to keep up with these changes and make their axle and propeller systems help reduce emissions. Compliance with emissions regulations usually necessitates the use of emission control technologies, which may increase weight and complexity in vehicles. The axle and propeller systems have to be engineered in a way that diminishes the effects on fuel efficiency but supports these technologies.
Electrification and Alternative Propulsion Systems
The move to electrification and alternative propulsion systems presents enormous challenges to axle and propeller system development and integration in medium and heavy commercial vehicles. The use of electric drivetrains in commercial trucks and buses presents new design issues for propeller and axle systems. The systems need to be efficient at transmitting power from electric motors and can handle high torque and regenerative braking properties. Hydrogen fuel cell commercial trucks and buses are being seen as a competing technology to battery-electric vehicles. Axle and propeller systems need to be engineered to accommodate the special power distribution needs of fuel cells, such as providing electricity to electric motors. For electric commercial vehicles, charging infrastructure availability and accessibility are paramount. Axle and propeller systems need to accommodate different charging modes and voltages while being durable and reliable.
Safety and Advanced Driver Assistance Systems
Safety is of prime importance in the commercial vehicle industry, and the inclusion of advanced safety features and driver assistance systems poses challenges for axle and propeller system makers. Axle and propeller systems must be compatible with numerous safety systems such as electronic stability control (ESC), anti-lock braking systems (ABS), and advanced driver assistance systems (ADAS). These systems depend on information from the axle and propeller systems to improve vehicle safety. Sensor integration for ADAS and autonomous driving poses space and compatibility challenges. Axle and propeller systems need to be able to support sensors without compromising their structural integrity and performance. Safety-critical functions demand redundancy in sensor data and system reliability. Axle and propeller systems should be designed such that failure at any point will not compromise the safety of vehicles.
Payload Efficiency and Transportation Needs
Commercial trucks are meant to carry goods and materials in an efficient manner, and payload efficiency and transportation demands pose a significant influence on the design of axle and propeller systems. Axle and propeller systems need to be designed to support higher payload capacity with efficiency. Improved load-carrying capacity is essential for the smooth functioning of heavy commercial vehicles. The combination of axle and propeller systems with sophisticated suspension systems is necessary for optimal weight distribution, ride quality, and handling under heavy loads. This combination must be engineered and tested accurately. Commercial vehicle owners are subjected to fuel efficiency pressures and a need to lower operational costs. Axle and propeller systems are important in fuel optimization through reduced energy loss during power transmission.
Urbanization and Last-Mile Delivery
Accelerated urbanization and the rising need for last-mile delivery solutions are challenging commercial vehicles, including axle and propeller system design. Medium and heavy commercial vehicles used in urban areas have distinct challenges, such as driving through congested areas, congestion, and frequent stopping. Axle and propeller systems must provide precise control and responsiveness to ensure safe and efficient operation. Many cities are implementing stricter emissions regulations within urban areas, further complicating the design of commercial vehicles. Axle and propeller systems must be part of the solution for reducing emissions while maintaining performance. Certain commercial vehicles that run in urban areas are converting to alternative drivetrain technologies, including electric powertrains or hydrogen fuel cells. Axle and propeller systems have to accommodate the unique needs of these technologies.
Key Market Trends
Electrification and Alternative Propulsion Systems
The most revolutionary trend in the Global Automotive Medium & Heavy Commercial Vehicle Axle & Propeller Market is the swift embracing of electrification and alternative propulsion systems. Commercial vehicles are slowly shifting away from conventional internal combustion engines, and this process is revolutionizing the design and purpose of axle and propeller systems. The market is seeing a boost in electric commercial vehicles (e-trucks). Such vehicles are powered by electric motors, usually driven within or outside the axle. Electric drivetrains need special designs of e-truck axles and propeller systems to facilitate space for electric drivetrains, ensure balanced weight, and achieve maximum energy efficiency. Hydrogen fuel cell commercial vehicles are also surfacing. These vehicles have onboard electricity generation based on fuel cells that drive electric motors. Axle and propeller systems for hydrogen fuel cell vehicles need to provide efficient transmission of power from the fuel cell to the wheels. Dual-mode or hybrid propulsion systems, incorporating internal combustion engines with electric or hydrogen-based drives, are being adopted by some commercial vehicles. Axle and propeller systems in such vehicles need to alternate between various sources of power in a smooth manner, maximizing fuel efficiency and performance.
Sustainability and Emissions Reduction
The increasing focus on sustainability and emissions reduction is a market driver. Governments, companies, and consumers are all becoming more focused on the environmental footprint of commercial vehicles, and this has created a number of key trends. Tighter emissions controls are forcing manufacturers to produce cleaner and more efficient vehicles. Axle and propeller systems are a key component in meeting emissions targets through the optimization of drivetrain efficiency and minimizing energy losses. The market is experiencing a change towards lightweight material in axle and propeller system design. Applications include the usage of high-strength steel alloys, aluminum, and composite material to minimize weight in components in order to ensure better fuel economy and lower emissions. Energy recoverable systems in the form of regenerative braking are increasingly appearing in commercial transport vehicles. Axle and propeller systems are central to the installation of these systems, which harvest and save energy during braking and utilize it to enhance fuel economy.
Autonomous and Connected Commercial Vehicles
Autonomous and connected commercial vehicles are transforming the transport sector. These sophisticated technologies are prompting axle and propeller system changes to facilitate the distinctive needs of self-driving and interconnected fleets. Autonomous and connected cars depend on a range of sensors, such as cameras, LiDAR, and radar, to sense their environment. Axle and propeller systems need to be engineered to support the installation and integration of these sensors without affecting performance. Connected commercial vehicles continuously share information with other vehicles, infrastructure, and control centers. Axle and propeller systems have a part in transferring data regarding vehicle dynamics, which is significant for secure and efficient autonomous operation. Several commercial vehicles feature ADAS technologies like adaptive cruise control and lane-keeping assist. Axle and propeller systems help to enhance the functionality of these systems through data transfer about vehicle dynamics and wheel speed.
Digital Twin and Predictive Maintenance
Adoption of digital twin technology and predictive maintenance technologies is increasing in the commercial vehicle industry. Such trends are changing how axle and propeller systems are monitored, serviced, and optimized. Digital twins are virtual representations of real-world commercial vehicles and their associated systems, including axle and propeller systems. Such digital twins provide real-time monitoring, performance analysis, and predictive maintenance capabilities, ensuring optimum system health and longevity. Predictive maintenance offerings use sensor data and digital twins to foretell component failures and plan for maintenance in advance. This eliminates downtime, reduces repair expenses, and prolongs axle and propeller system lifespans. Remote diagnostic technology is increasingly popular, enabling service providers and fleet managers to view the health of axle and propeller systems from a distance. Real-time visibility helps facilitate early intervention and provides safe and efficient operation.
Telematics and Fleet Management
Telematics and fleet management technologies are becoming more important in the commercial vehicle market. These technologies are improving operational efficiency, safety, and compliance, and they have implications for axle and propeller systems. Telematics systems offer real-time tracking of vehicles, enabling fleet managers to track the location and status of commercial vehicles. This information optimizes routes and protects axle and propeller systems from unnecessary wear and tear. Telematics solutions allow scheduling remote maintenance on the basis of usage information and predictive analysis. Axle and propeller system maintenance is more effectively planned by fleet operators, decreasing downtime and increasing efficiency. Telematics systems aid in regulatory compliance as it monitors vehicle information and reports it. This ensures that commercial vehicles, along with their axle and propeller systems, are in compliance with safety and environmental regulations.
Segmental Insights
Axle Type Analysis
When compared to tandem and dead axles, the live axle category is expected to have the largest market. The live axle market would grow as vehicle performance was improved and more torque was delivered. The market would be driven by increasing vehicle production as well as engineering developments to meet the shifting consumer needs. The efficient arrangement of bearings and novel designs for axle components that make optimal use of gear locations are expected to help reduce axle weight and increase vehicle efficiency. Consequently, it is anticipated that the live axle industry will expand during the upcoming years.
Propeller Shaft Type Analysis
During the projection period, the single piece market is anticipated to be the largest for propeller shafts. Due to advantages like reduced mechanical and frictional losses and shorter distances between the engine and the rear axle, the single-piece propeller shaft is typically favored in light-duty vehicles. Additionally, compared to multi-piece shafts, these single-piece shafts deliver effective performance at a faster speed. The single-piece propeller shaft holds the biggest share during the predicted period as a result of these considerations. This kind of propeller shaft is made from traditional materials such steel SM45C, stainless steel, and composite materials like HS carbon epoxy, e-glass polyester, and Kevlar epoxy.
Regional Insights
Due to rising light Vehicle production and steady demand for aftermarket parts, Asia Pacific is anticipated to experience the greatest growth rate over the projected period. Drive shafts and other axle-related components of the powertrain are becoming more and more necessary because of the region's thriving automobile industry. China is expected to produce tremendous demand for axle and propeller shafts as one of the market's top consumers. A few of the elements predicted to have a positive influence on the growth of the car market and the promotion of its production include rising infrastructure development spending in India and other emerging nations, as well as changing regulations for vehicle emissions. This is expected to enhance local demand for vehicle components like drive shafts.
The second largest and most established market for automobile axles and propeller shafts is thought to be Europe, and it is expected to continue to grow steadily over the coming years. Strict fuel-economy regulations are predicted to be the main development driver, motivating businesses to engage in R&D to create lightweight vehicle solutions. The need for axle and propeller shafts is thought to be driven by the strong demand for vehicles in Germany, the UK, and France in comparison to other nations, as well as the increase in premium vehicle sales. A greater quality of axles and propellers would be in more demand as end consumers' preferences for comfort in cars grow.
Recent Developments
- The Spicer Electrified e$9000r e-Axlefor class 4 and class 5 commercial vehicles was introduced by Dana in February2020. Dana is the only supplier to manufacture an axle, motor, gearbox, andinvertor, among other system components.
- The collaboration between GKN and DeltaElectronics Inc. on the collaborative development, which is anticipated toenable the quick acceleration of next-generation integrated 3-in-1 eDrivesystems with power classes ranging from 80KW to 155KW, was announced in January2020. Inverters from Delta Electronics Inc. are anticipated to be combined withthe eMotor and gearbox systems from GKN as part of the joint development ofsophisticated eDrive technology to provide a 3-in-1 solution.
- The transfer of Toyota's ownership ofYutaka Seimitsu Kogyo, Ltd. (Yutaka Seimitsu) shares pertaining to drivecomponents to JTEKT Corporation was announced in July 2019 by JTEKT Corporationand Toyota Motor Corporation. This is anticipated to further boost thedriveline operations of JTEKT Corp. and Toyota Corp.'s competitiveness.
- In February 2020, Gestamp created alightweight chassis that complies with safety standards and is anticipated tobe used starting in 2021 in India by Skoda and Volkswagen. Both German OEMvehicle types are anticipated to receive their subframe and front control armsfrom Gestamp.
- Ram 2500 Heavy Duty, Ram 3500 HeavyDuty, Ram 3500 Chassis Cab, Ram 4500 Chassis Cab, and Ram 5500 Chassis Cabtrucks can now get both front and rear axles and driveshafts from AxleManufacturing (AAM), which announced the expansion of the driveline segment forRAM heavy duty trucks in December 2019.
Key Market Players
- Dana Corporation
- IFARotorion
- MeritorInc.
- KoreaFlange Co. Ltd. (KOFCO)
- ZFFriedrichshafen AG
- ShowaCorporation
- JTEKTCorporation
- GKN-WalterscheidGmbH
- AmericanAxle & Manufacturing, Inc.
- Gelenkwellen-ServiceGmbH
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By Propeller Shaft Type |
By Demand Category |
By Region |
|
Live Dead Tandem |
Single Piece Multi Piece |
OEM Aftermarket |
North America Europe & CIS Asia Pacific South America Middle East & Africa |
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