Commercial Vehicle Propeller Shaft Market Size

The global commercial vehicle propeller shaft market size was valued at USD 4.2 billion in 2024 and is projected to grow at a CAGR of 4% between 2025 and 2034. One key driver in the commercial vehicle propeller shaft industry is the increasing demand for fuel efficiency and reduced emissions. Governments worldwide are implementing stricter emission standards, prompting manufacturers to explore lightweight materials like aluminum and carbon fiber for propeller shafts.

These materials not only reduce the overall vehicle weight but also improve fuel efficiency by lowering energy requirements for movement. Additionally, advancements in electric and hybrid commercial vehicles demand specially designed shafts that handle unique torque profiles, aligning with eco-friendly trends in the automotive sector. This shift is intensifying R&D in material science and design to create durable yet lightweight propeller shafts that meet both regulatory and market demands.

For instance, According to GMI, commercial vehicle market size was valued at USD 8.8 trillion in 2022 and is estimated to register a CAGR of over 6% between 2023 and 2032. This high growth rate reflects the surging demand for propeller shaft for production of commercial vehicles.

Another driver of the commercial vehicle propeller shaft market is the rise in e-commerce and logistics industries, which is boosting demand for heavy-duty trucks and light commercial vehicles globally. As online retail expands, the need for efficient delivery networks increases, requiring more commercial vehicles to manage distribution. This surge in fleet size directly raises the demand for propeller shafts, which are essential for vehicle functionality and durability. Additionally, with the increasing need for high-performance and reliable commercial vehicles, manufacturers are investing in enhanced propeller shaft technologies to meet these requirements.