Asia-Oceania: Largest market for axle and propeller shaft
Asia-Oceania comprises of developing economies such as India and China, which are
major global markets for automobile production. Global OEMs are investing in these
countries, given the new market opportunities arising from growing economies,
rising vehicle production levels as well as globally competitive automotive
manufacturing hub. This is expected to have positive impact on the demand for axles
and propeller shafts which would provide significant boost to large number of local
and international component suppliers present in the region. Major suppliers such as
Showa Corporation (Japan) and globally established players such as ZF
Friedrichshafen AG (Germany) have a strong presence in this region.
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