Propeller Shaft Market Size, Share & Trends Analysis Report By Shaft Type (Single Piece, Multi-piece), By End Use (Automotive, Marine, Aerospace, Industrial Machinery), By Region, And Segment Forecasts, 2024 - 2030

Propeller Shaft Market Size, Share & Trends Analysis Report By Shaft Type (Single Piece, Multi-piece), By End Use (Automotive, Marine, Aerospace, Industrial Machinery), By Region, And Segment Forecasts, 2024 - 2030

Propeller Shaft Market Size & Trends

The global propeller shaft market was estimated at USD 28.51 billion in 2023 and is forecasted to grow at a CAGR of 5.8% from 2024 to 2030. This growth is attributed to the growing emphasis on energy efficiency and emissions reduction in the automotive and transportation sectors, encouraging manufacturers to adopt lighter and more efficient components like propeller shafts. In addition, the global push towards sustainable transportation solutions bolsters the demand for propeller shafts that enhance vehicle performance while reducing environmental impact.

Advancements in propeller shaft technology are expected to support the increased demand across various industries. Improved manufacturing techniques, such as using advanced materials like carbon fiber and composites, enable the production of propeller shafts that are lighter, stronger, and more efficient. These advancements not only enhance the performance and durability of propeller shafts but also contribute to greater fuel efficiency and reduced vehicle emissions.

In addition, innovations in design and engineering allow for more compact and integrated systems, which are critical for electric and hybrid vehicles. As the automotive and transportation sectors increasingly prioritize sustainability and efficiency, the demand for technologically advanced propeller shafts capable of meeting these evolving needs is expected to rise significantly, fueling market growth.

Major industry players are focusing on adopting various strategies to gain a competitive edge. They are investing heavily in research and development to innovate new materials and manufacturing techniques that enhance shaft performance while reducing weight and improving efficiency. Moreover, companies are expanding their product portfolios to include customizable and modular shaft solutions catering to diverse vehicle types and specifications. These players also emphasize strategic partnerships and collaborations with automotive OEMs to co-develop advanced drivetrain systems that integrate seamlessly with modern vehicle architectures, including electric and hybrid platforms.

Global Propeller Shaft Market Report Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the segments from 2018 to 2030. For this study, Grand View Research has segmented the global propeller shaft market based on shaft type, end use, and region:

• Shaft Type Outlook (Revenue, USD Million, 2018 - 2030)
• Single Piece
• Multi-piece
• End Use Outlook (Revenue, USD Million, 2018 - 2030)
• Automotive
• Marine
• Aerospace
• Industrial Machinery
• Others
• Regional Outlook (Revenue, USD Million, 2018 - 2030)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Asia Pacific
• China
• Japan
• India
• South Korea
• Central & South America
• Brazil
• Argentina
• Middle East & Africa

Please note The report will be delivered in 4-8 business days upon order notification.