Automotive Axle And Propeller Shaft Market
Automotive Axle & Propeller Shaft Market Forecasts to 2030 - Global Analysis By Type (Live Axle, Tandem Axle and Dead Axle), Propeller Shift (Single Piece Propeller Shaft and Multi Piece Propeller Shaft), Material, Vehicle Type, Sales Channel and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $33.18 BN |
|
Projected Year Value (2030) |
US $48.92 BN |
|
CAGR (2023 - 2030) |
5.7% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Automotive Axle & Propeller Shaft Market is accounted for $33.18 billion in 2023 and is expected to reach $48.92 billion by 2030 growing at a CAGR of 5.7% during the forecast period. Axles are shafts or rods that connect and transmit power from the differential to the wheels. They ensure power distribution and support the vehicle's weight while facilitating wheel rotation and suspension movements. Moreover, these components are typically manufactured using steel or other durable materials, designed to withstand various forces and torques experienced during vehicle operation.
Market Dynamics:
Driver:
Increasing adoption of electric vehicles
Electric vehicles (EVs) demand specialized axle and propeller shaft systems tailored for electric drivetrains, accommodating unique motor configurations and power transmission needs. The shift towards EVs emphasizes lightweight, high-efficiency components, driving innovation in axle and shaft technologies. As the automotive industry transitions to electric propulsion for its environmental advantages and efficiency, the growing demand for advanced, custom-designed axle and propeller shaft systems to suit electric vehicle architectures is a prominent driver, shaping the market's evolution and expansion towards greener and more sustainable transportation solutions.
Restraint:
Fluctuating raw material prices
Price volatility of essential materials like steel, aluminium, and specialized alloys impacts production costs, directly influencing the overall manufacturing expenses of axle and propeller shaft systems. Sudden price fluctuations disrupt cost estimations, leading to unpredictable expenses, potentially squeezing profit margins for manufacturers. This challenge hampers strategic planning, production forecasting, and cost-efficient manufacturing, posing obstacles in offering competitive pricing, impacting the market's stability, and creating uncertainties in the Automotive Axle & Propeller Shaft Market.
Opportunity:
Growing emphasis on lightweight materials
Innovations in materials, such as advanced composites, high-strength alloys, and carbon fiber-reinforced plastics, offer the potential for lighter yet durable axle and propeller shaft systems. Utilizing these lightweight materials enhances fuel efficiency, reduces vehicle weight, and improves overall performance. Furthermore, manufacturers investing in research and development to create innovative, strong, and cost-effective lightweight materials for axle and propeller shafts can cater to the industry's demand for efficient and environmentally friendly drivetrain components, positioning themselves competitively in the market.
Threat:
Regulatory standards
Evolving regulations focusing on emissions, safety, and vehicle performance often necessitate costly adjustments or modifications to axle and propeller shaft systems to meet compliance standards. Adhering to these stringent regulations adds complexities and expenses in terms of design, manufacturing, and testing processes. Failure to comply may lead to market exclusion or penalties. Thus, there is a decreasing demand for market growth.
Covid-19 Impact
The COVID-19 pandemic is causing disruptions in production, supply chains, and demand. Lockdowns, factory closures, and supply chain interruptions led to reduced vehicle production, affecting axle and propeller shaft manufacturers. Fluctuating consumer demand, economic uncertainties, and workforce challenges further hindered market growth. However, a gradual recovery ensued as restrictions eased, driving vehicle demand and production rebound. Additionally, the pandemic accelerated trends like electric vehicles and online sales, prompting manufacturers to innovate and adapt.
The single piece propeller shaft segment is expected to be the largest during the forecast period
The single piece propeller shaft segment is estimated to hold the largest share. The Single Piece Propeller Shaft, providing a seamless and robust linkage between the vehicle's transmission and the rear axle. This design minimizes joints and connections, enhancing durability, reducing vibrations, and optimizing power transmission efficiency in vehicles. Single Piece Propeller Shafts offer advantages in terms of reduced maintenance, improved fuel efficiency, and enhanced overall performance, making them a sought-after choice in modern automotive drivetrain systems for their reliability and ability to meet stringent performance standards.
The heavy commercial vehicles segment is expected to have the highest CAGR during the forecast period
The heavy commercial vehicles segment is anticipated to have lucrative growth during the forecast period. Axle configurations in heavy commercial vehicles vary, including single, tandem, or multiple axles, supporting different weight capacities. Propeller shafts in this segment demand durability, reliability, and the ability to endure extensive usage under heavy loads. Moreover, the performance and efficiency of axle and propeller shaft systems are critical factors for the reliable operation of heavy commercial vehicles, catering to transportation and logistics industries worldwide.
Region with largest share:
Asia Pacific commanded the largest market share during the extrapolated period due to rising automotive production, industrialization, and infrastructure development. This market expansion is fuelled by technological advancements, demand for fuel-efficient vehicles, and a shift toward electric and hybrid vehicles. Additionally, the region's focus on enhancing transportation networks and the growing investments in the automotive sector amplify opportunities for axle and propeller shaft manufacturers to meet the escalating demands of this dynamic and rapidly evolving market.
Region with highest CAGR:
North America is expected to witness profitable growth over the projection period. The United States, Canada, and Mexico form key markets, benefiting from a strong demand for light and heavy-duty vehicles. Factors like the increasing adoption of electric and hybrid vehicles, stringent emission regulations, and a focus on fuel efficiency propel market advancements. Additionally, the region's emphasis on R&D for lightweight materials and advanced manufacturing techniques contributes to the market's evolution, offering lucrative opportunities for axle and propeller shaft manufacturers amidst the dynamic automotive landscape.
Key players in the market
Some of the key players in the Automotive Axle & Propeller Shaft Market include American Axle & Manufacturing, Inc., Dana Incorporated, Hyundai Wia Corporation, Hitachi, Ltd., JTEKT Corporation, Meritor, Inc., ZF Friedrichshafen AG, IFA Group, Melrose Industries Plc, Gestamp Automocion, S.A., Korea Flange Co. Ltd. (KOFCO), Showa Corporation, Gelenkwellen-Service GmbH., GKN-Walterscheid GmbH, Automotive Axles Limited and Mark Williams Enterprises Inc.
Key Developments:
In March 2023, Dana Incorporated announced several initiatives?including new drivetrain offerings for electrified vehicles?that strengthen the company's growing commitment to the North American construction and off-highway markets.
In September 2022, as a global leader in electrification, Hitachi Astemo, Ltd. has received electric axle (e-Axle) orders for mid-size and large-size battery-electric vehicles from Honda Motor Co., Ltd., slated for a global rollout in 2026.
Types Covered:
• Live Axle
• Tandem Axle
• Dead Axle
Propeller Shifts Covered:
• Single Piece Propeller Shaft
• Multi Piece Propeller Shaft
Materials Covered:
• Carbon Fiber
• Alloy
Vehicle Types Covered:
• Passenger Cars
• Heavy Commercial Vehicles
• Light Commercial Vehicles
Sales Channels Covered:
• Aftermarket
• Original Equipment Manufacturer
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Emerging Markets
3.7 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Automotive Axle & Propeller Shaft Market, By Type
5.1 Introduction
5.2 Live Axle
5.3 Tandem Axle
5.4 Dead Axle
6 Global Automotive Axle & Propeller Shaft Market, By Propeller Shift
6.1 Introduction
6.2 Single Piece Propeller Shaft
6.3 Multi Piece Propeller Shaft
7 Global Automotive Axle & Propeller Shaft Market, By Material
7.1 Introduction
7.2 Carbon Fiber
7.3 Alloy
8 Global Automotive Axle & Propeller Shaft Market, By Vehicle Type
8.1 Introduction
8.2 Passenger Cars
8.3 Heavy Commercial Vehicles
8.4 Light Commercial Vehicles
9 Global Automotive Axle & Propeller Shaft Market, By Sales Channel
9.1 Introduction
9.2 Aftermarket
9.3 Original Equipment Manufacturer
10 Global Automotive Axle & Propeller Shaft Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 American Axle & Manufacturing, Inc.
12.2 Dana Incorporated
12.3 Hyundai Wia Corporation
12.4 Hitachi, Ltd.
12.5 JTEKT Corporation
12.6 Meritor, Inc.
12.7 ZF Friedrichshafen AG
12.8 IFA Group
12.9 Melrose Industries Plc
12.10 Gestamp Automocion, S.A.
12.11 Korea Flange Co. Ltd. (KOFCO)
12.12 Showa Corporation
12.13 Gelenkwellen-Service GmbH.
12.14 GKN-Walterscheid GmbH
12.15 Automotive Axles Limited
12.16 Mark Williams Enterprises Inc.
List of Tables
1 Global Automotive Axle & Propeller Shaft Market Outlook, By Region (2021-2030) ($MN)
2 Global Automotive Axle & Propeller Shaft Market Outlook, By Type (2021-2030) ($MN)
3 Global Automotive Axle & Propeller Shaft Market Outlook, By Live Axle (2021-2030) ($MN)
4 Global Automotive Axle & Propeller Shaft Market Outlook, By Tandem Axle (2021-2030) ($MN)
5 Global Automotive Axle & Propeller Shaft Market Outlook, By Dead Axle (2021-2030) ($MN)
6 Global Automotive Axle & Propeller Shaft Market Outlook, By Propeller Shift (2021-2030) ($MN)
7 Global Automotive Axle & Propeller Shaft Market Outlook, By Single Piece Propeller Shaft (2021-2030) ($MN)
8 Global Automotive Axle & Propeller Shaft Market Outlook, By Multi Piece Propeller Shaft (2021-2030) ($MN)
9 Global Automotive Axle & Propeller Shaft Market Outlook, By Material (2021-2030) ($MN)
10 Global Automotive Axle & Propeller Shaft Market Outlook, By Carbon Fiber (2021-2030) ($MN)
11 Global Automotive Axle & Propeller Shaft Market Outlook, By Alloy (2021-2030) ($MN)
12 Global Automotive Axle & Propeller Shaft Market Outlook, By Vehicle Type (2021-2030) ($MN)
13 Global Automotive Axle & Propeller Shaft Market Outlook, By Passenger Cars (2021-2030) ($MN)
14 Global Automotive Axle & Propeller Shaft Market Outlook, By Heavy Commercial Vehicles (2021-2030) ($MN)
15 Global Automotive Axle & Propeller Shaft Market Outlook, By Light Commercial Vehicles (2021-2030) ($MN)
16 Global Automotive Axle & Propeller Shaft Market Outlook, By Sales Channel (2021-2030) ($MN)
17 Global Automotive Axle & Propeller Shaft Market Outlook, By Aftermarket (2021-2030) ($MN)
18 Global Automotive Axle & Propeller Shaft Market Outlook, By Original Equipment Manufacturer (2021-2030) ($MN)
19 North America Automotive Axle & Propeller Shaft Market Outlook, By Country (2021-2030) ($MN)
20 North America Automotive Axle & Propeller Shaft Market Outlook, By Type (2021-2030) ($MN)
21 North America Automotive Axle & Propeller Shaft Market Outlook, By Live Axle (2021-2030) ($MN)
22 North America Automotive Axle & Propeller Shaft Market Outlook, By Tandem Axle (2021-2030) ($MN)
23 North America Automotive Axle & Propeller Shaft Market Outlook, By Dead Axle (2021-2030) ($MN)
24 North America Automotive Axle & Propeller Shaft Market Outlook, By Propeller Shift (2021-2030) ($MN)
25 North America Automotive Axle & Propeller Shaft Market Outlook, By Single Piece Propeller Shaft (2021-2030) ($MN)
26 North America Automotive Axle & Propeller Shaft Market Outlook, By Multi Piece Propeller Shaft (2021-2030) ($MN)
27 North America Automotive Axle & Propeller Shaft Market Outlook, By Material (2021-2030) ($MN)
28 North America Automotive Axle & Propeller Shaft Market Outlook, By Carbon Fiber (2021-2030) ($MN)
29 North America Automotive Axle & Propeller Shaft Market Outlook, By Alloy (2021-2030) ($MN)
30 North America Automotive Axle & Propeller Shaft Market Outlook, By Vehicle Type (2021-2030) ($MN)
31 North America Automotive Axle & Propeller Shaft Market Outlook, By Passenger Cars (2021-2030) ($MN)
32 North America Automotive Axle & Propeller Shaft Market Outlook, By Heavy Commercial Vehicles (2021-2030) ($MN)
33 North America Automotive Axle & Propeller Shaft Market Outlook, By Light Commercial Vehicles (2021-2030) ($MN)
34 North America Automotive Axle & Propeller Shaft Market Outlook, By Sales Channel (2021-2030) ($MN)
35 North America Automotive Axle & Propeller Shaft Market Outlook, By Aftermarket (2021-2030) ($MN)
36 North America Automotive Axle & Propeller Shaft Market Outlook, By Original Equipment Manufacturer (2021-2030) ($MN)
37 Europe Automotive Axle & Propeller Shaft Market Outlook, By Country (2021-2030) ($MN)
38 Europe Automotive Axle & Propeller Shaft Market Outlook, By Type (2021-2030) ($MN)
39 Europe Automotive Axle & Propeller Shaft Market Outlook, By Live Axle (2021-2030) ($MN)
40 Europe Automotive Axle & Propeller Shaft Market Outlook, By Tandem Axle (2021-2030) ($MN)
41 Europe Automotive Axle & Propeller Shaft Market Outlook, By Dead Axle (2021-2030) ($MN)
42 Europe Automotive Axle & Propeller Shaft Market Outlook, By Propeller Shift (2021-2030) ($MN)
43 Europe Automotive Axle & Propeller Shaft Market Outlook, By Single Piece Propeller Shaft (2021-2030) ($MN)
44 Europe Automotive Axle & Propeller Shaft Market Outlook, By Multi Piece Propeller Shaft (2021-2030) ($MN)
45 Europe Automotive Axle & Propeller Shaft Market Outlook, By Material (2021-2030) ($MN)
46 Europe Automotive Axle & Propeller Shaft Market Outlook, By Carbon Fiber (2021-2030) ($MN)
47 Europe Automotive Axle & Propeller Shaft Market Outlook, By Alloy (2021-2030) ($MN)
48 Europe Automotive Axle & Propeller Shaft Market Outlook, By Vehicle Type (2021-2030) ($MN)
49 Europe Automotive Axle & Propeller Shaft Market Outlook, By Passenger Cars (2021-2030) ($MN)
50 Europe Automotive Axle & Propeller Shaft Market Outlook, By Heavy Commercial Vehicles (2021-2030) ($MN)
51 Europe Automotive Axle & Propeller Shaft Market Outlook, By Light Commercial Vehicles (2021-2030) ($MN)
52 Europe Automotive Axle & Propeller Shaft Market Outlook, By Sales Channel (2021-2030) ($MN)
53 Europe Automotive Axle & Propeller Shaft Market Outlook, By Aftermarket (2021-2030) ($MN)
54 Europe Automotive Axle & Propeller Shaft Market Outlook, By Original Equipment Manufacturer (2021-2030) ($MN)
55 Asia Pacific Automotive Axle & Propeller Shaft Market Outlook, By Country (2021-2030) ($MN)
56 Asia Pacific Automotive Axle & Propeller Shaft Market Outlook, By Type (2021-2030) ($MN)
57 Asia Pacific Automotive Axle & Propeller Shaft Market Outlook, By Live Axle (2021-2030) ($MN)
58 Asia Pacific Automotive Axle & Propeller Shaft Market Outlook, By Tandem Axle (2021-2030) ($MN)
59 Asia Pacific Automotive Axle & Propeller Shaft Market Outlook, By Dead Axle (2021-2030) ($MN)
60 Asia Pacific Automotive Axle & Propeller Shaft Market Outlook, By Propeller Shift (2021-2030) ($MN)
61 Asia Pacific Automotive Axle & Propeller Shaft Market Outlook, By Single Piece Propeller Shaft (2021-2030) ($MN)
62 Asia Pacific Automotive Axle & Propeller Shaft Market Outlook, By Multi Piece Propeller Shaft (2021-2030) ($MN)
63 Asia Pacific Automotive Axle & Propeller Shaft Market Outlook, By Material (2021-2030) ($MN)
64 Asia Pacific Automotive Axle & Propeller Shaft Market Outlook, By Carbon Fiber (2021-2030) ($MN)
65 Asia Pacific Automotive Axle & Propeller Shaft Market Outlook, By Alloy (2021-2030) ($MN)
66 Asia Pacific Automotive Axle & Propeller Shaft Market Outlook, By Vehicle Type (2021-2030) ($MN)
67 Asia Pacific Automotive Axle & Propeller Shaft Market Outlook, By Passenger Cars (2021-2030) ($MN)
68 Asia Pacific Automotive Axle & Propeller Shaft Market Outlook, By Heavy Commercial Vehicles (2021-2030) ($MN)
69 Asia Pacific Automotive Axle & Propeller Shaft Market Outlook, By Light Commercial Vehicles (2021-2030) ($MN)
70 Asia Pacific Automotive Axle & Propeller Shaft Market Outlook, By Sales Channel (2021-2030) ($MN)
71 Asia Pacific Automotive Axle & Propeller Shaft Market Outlook, By Aftermarket (2021-2030) ($MN)
72 Asia Pacific Automotive Axle & Propeller Shaft Market Outlook, By Original Equipment Manufacturer (2021-2030) ($MN)
73 South America Automotive Axle & Propeller Shaft Market Outlook, By Country (2021-2030) ($MN)
74 South America Automotive Axle & Propeller Shaft Market Outlook, By Type (2021-2030) ($MN)
75 South America Automotive Axle & Propeller Shaft Market Outlook, By Live Axle (2021-2030) ($MN)
76 South America Automotive Axle & Propeller Shaft Market Outlook, By Tandem Axle (2021-2030) ($MN)
77 South America Automotive Axle & Propeller Shaft Market Outlook, By Dead Axle (2021-2030) ($MN)
78 South America Automotive Axle & Propeller Shaft Market Outlook, By Propeller Shift (2021-2030) ($MN)
79 South America Automotive Axle & Propeller Shaft Market Outlook, By Single Piece Propeller Shaft (2021-2030) ($MN)
80 South America Automotive Axle & Propeller Shaft Market Outlook, By Multi Piece Propeller Shaft (2021-2030) ($MN)
81 South America Automotive Axle & Propeller Shaft Market Outlook, By Material (2021-2030) ($MN)
82 South America Automotive Axle & Propeller Shaft Market Outlook, By Carbon Fiber (2021-2030) ($MN)
83 South America Automotive Axle & Propeller Shaft Market Outlook, By Alloy (2021-2030) ($MN)
84 South America Automotive Axle & Propeller Shaft Market Outlook, By Vehicle Type (2021-2030) ($MN)
85 South America Automotive Axle & Propeller Shaft Market Outlook, By Passenger Cars (2021-2030) ($MN)
86 South America Automotive Axle & Propeller Shaft Market Outlook, By Heavy Commercial Vehicles (2021-2030) ($MN)
87 South America Automotive Axle & Propeller Shaft Market Outlook, By Light Commercial Vehicles (2021-2030) ($MN)
88 South America Automotive Axle & Propeller Shaft Market Outlook, By Sales Channel (2021-2030) ($MN)
89 South America Automotive Axle & Propeller Shaft Market Outlook, By Aftermarket (2021-2030) ($MN)
90 South America Automotive Axle & Propeller Shaft Market Outlook, By Original Equipment Manufacturer (2021-2030) ($MN)
91 Middle East & Africa Automotive Axle & Propeller Shaft Market Outlook, By Country (2021-2030) ($MN)
92 Middle East & Africa Automotive Axle & Propeller Shaft Market Outlook, By Type (2021-2030) ($MN)
93 Middle East & Africa Automotive Axle & Propeller Shaft Market Outlook, By Live Axle (2021-2030) ($MN)
94 Middle East & Africa Automotive Axle & Propeller Shaft Market Outlook, By Tandem Axle (2021-2030) ($MN)
95 Middle East & Africa Automotive Axle & Propeller Shaft Market Outlook, By Dead Axle (2021-2030) ($MN)
96 Middle East & Africa Automotive Axle & Propeller Shaft Market Outlook, By Propeller Shift (2021-2030) ($MN)
97 Middle East & Africa Automotive Axle & Propeller Shaft Market Outlook, By Single Piece Propeller Shaft (2021-2030) ($MN)
98 Middle East & Africa Automotive Axle & Propeller Shaft Market Outlook, By Multi Piece Propeller Shaft (2021-2030) ($MN)
99 Middle East & Africa Automotive Axle & Propeller Shaft Market Outlook, By Material (2021-2030) ($MN)
100 Middle East & Africa Automotive Axle & Propeller Shaft Market Outlook, By Carbon Fiber (2021-2030) ($MN)
101 Middle East & Africa Automotive Axle & Propeller Shaft Market Outlook, By Alloy (2021-2030) ($MN)
102 Middle East & Africa Automotive Axle & Propeller Shaft Market Outlook, By Vehicle Type (2021-2030) ($MN)
103 Middle East & Africa Automotive Axle & Propeller Shaft Market Outlook, By Passenger Cars (2021-2030) ($MN)
104 Middle East & Africa Automotive Axle & Propeller Shaft Market Outlook, By Heavy Commercial Vehicles (2021-2030) ($MN)
105 Middle East & Africa Automotive Axle & Propeller Shaft Market Outlook, By Light Commercial Vehicles (2021-2030) ($MN)
106 Middle East & Africa Automotive Axle & Propeller Shaft Market Outlook, By Sales Channel (2021-2030) ($MN)
107 Middle East & Africa Automotive Axle & Propeller Shaft Market Outlook, By Aftermarket (2021-2030) ($MN)
108 Middle East & Africa Automotive Axle & Propeller Shaft Market Outlook, By Original Equipment Manufacturer (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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