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Commercial Vehicle Propeller Shaft Market Share
Cummins Inc., BorgWarner Inc., and GKN Automotive collectively held a substantial market share of over 40% in the commercial vehicle propeller shaft industry in 2024. These companies are focusing on developing lightweight, cost-effective, and high-performance shafts that meet the increasing demand for fuel efficiency and lower emissions. With the rise of electric and hybrid vehicles, key manufacturers are also entering the EV market, adapting their technologies to suit new drive systems.
The market is fragmented, with competition intensifying around the development of modular, plug-and-play solutions and advancements in materials. Additionally, the market is characterized by growing consolidation as larger companies partner with or acquire smaller players to expand their portfolios and capture emerging growth opportunities in the EV and hybrid segments.
Commercial Vehicle Propeller Shaft Market Companies
Major players operating in the commercial vehicle propeller shaft industry are:
- Aisin Seiki
- BorgWarner
- Cardan Shaft
- Cummins
- Eaton
- GKN Automotive
- Schaeffler
- ZF Friedrichshafen
Who are the major players in the commercial vehicle propeller shaft industry?
The key players in the industry include Aisin Seiki, BorgWarner, Cardan Shaft, Cummins, Eaton, GKN Automotive, Schaeffler, and ZF Friedrichshafen.
How much is the China commercial vehicle propeller shaft market worth?
China's market held over 60% share in 2024 and is anticipated to exceed USD 1 billion by 2034, supported by its large and rapidly expanding automotive industry and strong government support.
What is the size of the light commercial vehicles (LCVs) segment in the propeller shaft industry?
The LCVs segment accounted for over 70% of the market share in 2024 and is expected to exceed USD 4 billion by 2034, primarily due to their high demand in e-commerce and last-mile delivery services.
How big is the commercial vehicle propeller shaft market?
The market size of commercial vehicle propeller shaft reached USD 4.2 billion in 2024 and is set to grow at a 4% CAGR from 2025 to 2034, driven by increasing demand for fuel efficiency and reduced emissions.