Market Overview:
The global truck propeller shafts market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for commercial vehicles, especially heavy-duty trucks, across the globe. Additionally, rising awareness about fuel efficiency and emissions is also propelling the demand for truck propeller shafts globally. The global truck propeller shafts market can be segmented on the basis of type into single piece shaft and multi piece shaft. The single piece shaft segment is expected to account for a larger share of the global truck propeller shafts market in terms of revenue during the forecast period from 2018 to 2030. This can be attributed to its low installation cost and easy installation process as compared to multi piece shafts.
Product Definition:
The truck propeller shaft is a metal bar that helps transfer power from the engine to the wheels. It is an important part of the truck because it helps to ensure that the vehicle can move properly.
Single Piece Shaft:
Single piece shafts are manufactured from materials such as steel, aluminum and carbon fiber. The market for single piece shaft is expected to grow at a significant rate owing to the increasing demand for lightweight components in the automotive industry. In addition, growing demand for high performance components with low weight properties is also expected to drive growth over the forecast period.
Multi Piece Shaft:
Multi-piece shafts are manufactured with several sections or pieces. The number of pieces in the multi-piece varies according to the application requirements. For instance, a four-pane (4P) multi-piece shaft is made up of four separate components, which are fastened together by bolts at each end and can be used for both rotatory as well as reciprocating engines.
Application Insights:
The light duty trucks application segment accounted for the largest share of over 60.0% in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to increasing demand for light commercial vehicles across developing countries such as India, China and Brazil. In addition, factors such as growing urbanization in developing countries are likely to augment propeller shafts demand in commercial vehicles over the forecast period.
The heavy-duty trucks application segment is projected register a CAGR of XX% from 2018 to 2030 owing to an increase in construction activities across emerging economies including India, China and Brazil which are likelyto propel product demand thereover the next eight years or so ¢â‚¬Å“ until 2030¢â‚¬ according industry experts at IHS Markit Inc.
Regional Analysis:
The Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to increasing investments in developing countries such as China, India, and Japan. Moreover, rising demand for trucks on account of rapid urbanization is anticipated to drive propeller shafts demand over the forecast period.
Europe accounted for a significant share owing to growing automotive industry coupled with technological advancements in prop-shaft technology. Increasing use of electric trucks due to favorable government regulations pertaining energy consumption is also expected drive regional market growth over the next eight years.
North America region accounted for more than 20% revenue share in 2017 owing to high usage rates of heavy commercial vehicles such as buses and trucks across U.S.
Growth Factors:
- Increasing demand for commercial vehicles: The global truck market is expected to grow at a CAGR of 5.5% from 2016 to 2021. This will lead to an increase in demand for truck propeller shafts, as they are an essential component of trucks.
- Technological advancements: Propeller shaft manufacturers are constantly innovating and introducing new technologies that improve the performance and durability of their products. This will help them gain a larger share of the truck propeller shafts market.
- Rising fuel prices: The cost of fuel has been on the rise in recent years, which has led to an increase in the cost of transportation goods across the globe. This is likely to lead to an increase in demand for more fuel-efficient trucks, which will benefit the truck propeller shafts market growth rate positively over time .
Scope Of The Report
Report Attributes
Report Details
Report Title
Truck Propeller Shafts Market Research Report
By Type
Single Piece Shaft, Multi Piece Shaft
By Application
Light Duty Truck, Heavy Duty Truck
By Companies
GKN, NTN, Huayu Automotive, Dana, IFA Rotorion, AAM, Wanxiang, Meritor, Nexteer, JTEKT, Hyundai-Wia, Showa, YODON, Neapco, GSP, Dongfeng
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
203
Number of Tables & Figures
143
Customization Available
Yes, the report can be customized as per your need.
Global Truck Propeller Shafts Market Report Segments:
The global Truck Propeller Shafts market is segmented on the basis of:
Types
Single Piece Shaft, Multi Piece Shaft
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Light Duty Truck, Heavy Duty Truck
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- GKN
- NTN
- Huayu Automotive
- Dana
- IFA Rotorion
- AAM
- Wanxiang
- Meritor
- Nexteer
- JTEKT
- Hyundai-Wia
- Showa
- YODON
- Neapco
- GSP
- Dongfeng
Highlights of The Truck Propeller Shafts Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Single Piece Shaft
- Multi Piece Shaft
- By Application:
- Light Duty Truck
- Heavy Duty Truck
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Truck Propeller Shafts 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 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Truck propeller shafts are the shafts that connect the engine to the truck's propellers.
Some of the major players in the truck propeller shafts market are GKN, NTN, Huayu Automotive, Dana, IFA Rotorion, AAM, Wanxiang, Meritor, Nexteer, JTEKT, Hyundai-Wia, Showa, YODON, Neapco, GSP, Dongfeng.
The truck propeller shafts market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Truck Propeller Shafts Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Truck Propeller Shafts Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Truck Propeller Shafts Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Truck Propeller Shafts Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Truck Propeller Shafts Market Size & Forecast, 2020-2028
4.5.1 Truck Propeller Shafts Market Size and Y-o-Y Growth
4.5.2 Truck Propeller Shafts Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Single Piece Shaft
5.2.2 Multi Piece Shaft
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Light Duty Truck
6.2.2 Heavy Duty Truck
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Truck Propeller Shafts Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Truck Propeller Shafts Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Single Piece Shaft
9.6.2 Multi Piece Shaft
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Light Duty Truck
9.10.2 Heavy Duty Truck
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Single Piece Shaft
10.6.2 Multi Piece Shaft
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Light Duty Truck
10.10.2 Heavy Duty Truck
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Single Piece Shaft
11.6.2 Multi Piece Shaft
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Light Duty Truck
11.10.2 Heavy Duty Truck
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Single Piece Shaft
12.6.2 Multi Piece Shaft
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Light Duty Truck
12.10.2 Heavy Duty Truck
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Single Piece Shaft
13.6.2 Multi Piece Shaft
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Light Duty Truck
13.10.2 Heavy Duty Truck
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Truck Propeller Shafts Market: Competitive Dashboard
14.2 Global Truck Propeller Shafts Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 GKN
14.3.2 NTN
14.3.3 Huayu Automotive
14.3.4 Dana
14.3.5 IFA Rotorion
14.3.6 AAM
14.3.7 Wanxiang
14.3.8 Meritor
14.3.9 Nexteer
14.3.10 JTEKT
14.3.11 Hyundai-Wia
14.3.12 Showa
14.3.13 YODON
14.3.14 Neapco
14.3.15 GSP
14.3.16 Dongfeng
