
Automotive Drive Shaft Market Forecasts to 2028 – Global Analysis By Shaft Type (Flexible Drive, Torque Tube Drive), Vehicle Type (Electric Vehicle, Light Commercial Vehicles), Material (Aluminum, Carbon Fiber) and By Geography

Years Covered |
2020-2028 |
Estimated Year Value (2021) |
US $26.91 BN |
Projected Year Value (2028) |
US $44.06 BN |
CAGR (2021 - 2028) |
7.3% |
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 |
Asia Pacific |
According to Stratistics MRC, the Global Automotive Drive Shaft Market is accounted for $26.91 billion in 2021 and is expected to reach $44.06 billion by 2028 growing at a CAGR of 7.3% during the forecast period. Drive Shaft is, also called a driving shaft, propeller shaft, or Cardan shaft. It is a mechanical component used to connect with other components of a drive train, which is not possible to connect directly. The growing concern for fuel efficiency motivates the manufacturers to develop lightweight driveshafts without impacting their performance and rigidness.
Market Dynamics:
Driver:
Growing sales of electric vehicles
Sales of electric vehicles have been projecting a positive growth over the past years, and it is estimated to continue to gain more customers in the coming time. Moreover, many electric vehicle manufacturing companies plan to launch more electric vehicle models in the coming years. In addition, major automotive companies are also shifting their focus toward the electric vehicle segment, owing to their concern for the environment and increasing prices of fuels. Therefore, this is projected to boost the growth of the global automotive drive shaft market.
Restraint:
Increase in adoption of electric vehicles
Increase in adoption of electric vehicles can act as a restraint to the growth of the global automotive drive shaft market. Automakers, such as General Motor Company, BMW AG, and Audi AG are among the leading players developing electric vehicles (EVs). Electric vehicles are independent of traditional internal combustion engines to power vehicles.
Opportunity:
Hollow shafts
Weight reduction in the automotive industry has been a major concerning factor for innovators and manufacturers. A majority of passenger cars use hollow shaft as a drive shaft, owing to the advantages offered by these shafts when compared to solid drive shafts. Hollow drive shaft of same mass as of solid drive shaft performs in same manner without resulting in a failure. Therefore, this is leading to the growth of the global automotive drive shaft market.
Threat:
The emergence of composite drive shafts
The drive shafts are manufactured with specific allowance for some small degree of movement at the points where the drive shafts are connected to sustain under a twisting or spinning motion. Additionally, a drive shaft enables the function with an axle and CV joint and allows the transfer of torque from transmission to the wheels. This allows the vehicle to be driven at the required speed.
The multi-piece segment is expected to have the highest CAGR during the forecast period
The multi-piece segment is growing at the highest CAGR in the market due to the growing reputation of pick-up trucks, which evidence high penetration of multi-piece drive shafts, thus driving this segment. Furthermore, the penetration of the multi-piece drive shaft is getting higher due to an increase in the command for SUVs and four-wheel drive vehicles.
The single piece segment is expected to be the largest during the forecast period
The single piece segment is expected to be the largest share in the market. Single piece drive shaft is a conventional drive shaft and is highly popular among entry and mid-range vehicles, which can be attributed to the high market share held by the segment in the automotive drive shaft market.
Region with highest share:
Asia Pacific is projected to hold the largest share in the market due to the high production of vehicles and a rise in the command for premium and luxury vehicles among developing countries of the region. This market is directly influenced by vehicle production and sales. The availability of major component manufacturers and the presence of major automotive manufacturers in the region are key factors attributed to the notable share held by the Asia Pacific of the global automotive drive shaft market.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR during the forecast period. OEMs have established their production bases in countries like China, India given the pull of the local market and the low cost of manufacture. Moreover, growing demand for comfort and stringent fuel efficiency standards are also anticipated to drive the market for automotive drive shafts in the region.
Key players in the market:
Some of the key players profiled in the Automotive Drive Shaft Market include D & F PROPSHAFTS, Bailey Morris Limited, Wilson Drive Shaft, Yamada, Meritor, Rochling Group, American Axle & Manufacturing, Inc., Nexteer Automotive Group Ltd., Neapco, Dana Limited, Advanced Composite Products & Technology Inc., HYUNDAI WIA CORP., IFA Group, JTEKT Corporation, and GKN Plc.
Key developments:
In November 2020: American Axle Manufacturing (AAM) announced it is EcoTrac disconnecting all-wheel-drive for Chrysler’s new 2021 Chrysler Pacifica mini-van, along with AWD. The DTCM contains AWD system software that provides enhanced handling and improved traction to the rear wheels via the RDM.
In January 2020: GKN Automotive announced collaboration with Delta Electronics Inc. for the development of advanced eDrive technology. New integrated eDrive systems currently in development will enter production within three years to continue addressing a sizeable and rapidly expanding market.
Shaft Types Covered:
• Flexible Drive Shaft
• Torque Tube Drive Shaft
• Hotchkiss Drive Shaft
Vehicle Types Covered:
• Electric Vehicle
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Passenger Vehicles
Position Types Covered:
• Rear Axle
• Front Axle
Design Types Covered:
• Solid Drive Shafts
• Hollow Drive Shafts
Drive Systems Covered:
• Two Wheel Drive
• Four Wheel Drive
Materials Covered:
• Aluminum
• Carbon Fiber
• Steel
Sales Channels Covered:
• Original Equipment Manufacturer (OEM)
• Aftermarket
Drive Shaft Types Covered:
• Multi-Piece
• Slip-In-Tube Drive Shaft
• Single Piece
Distribution Channels Covered:
• Offline
• Online
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 2020, 2021, 2022, 2025, and 2028
- 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
o 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 Drive Shaft Market, By Shaft Type
5.1 Introduction
5.2 Flexible Drive Shaft
5.3 Torque Tube Drive Shaft
5.4 Hotchkiss Drive Shaft
6 Global Automotive Drive Shaft Market, By Vehicle Type
6.1 Introduction
6.2 Electric Vehicle
6.3 Light Commercial Vehicles
6.4 Heavy Commercial Vehicles
6.5 Passenger Vehicles
6.5.1 Sport Utility Vehicle (SUV)/Multi Utility Vehicle (MUV)/Multi Passenger Vehicle (MPV)
6.5.2 Sedan
6.5.3 Hatchback
7 Global Automotive Drive Shaft Market, By Position Type
7.1 Introduction
7.2 Rear Axle
7.3 Front Axle
8 Global Automotive Drive Shaft Market, By Design Type
8.1 Introduction
8.2 Solid Drive Shafts
8.3 Hollow Drive Shafts
9 Global Automotive Drive Shaft Market, By Drive System
9.1 Introduction
9.2 Two Wheel Drive
9.3 Four Wheel Drive
10 Global Automotive Drive Shaft Market, By Material
10.1 Introduction
10.2 Aluminum
10.3 Carbon Fiber
10.4 Steel
11 Global Automotive Drive Shaft Market, By Sales Channel
11.1 Introduction
11.2 Original Equipment Manufacturer (OEM)
11.3 Aftermarket
12 Global Automotive Drive Shaft Market, By Drive Shaft Type
12.1 Introduction
12.2 Multi-Piece
12.3 Slip-In-Tube Drive Shaft
12.4 Single Piece
13 Global Automotive Drive Shaft Market, By Distribution Channel
13.1 Introduction
13.2 Offline
13.3 Online
14 Global Automotive Drive Shaft Market, By Geography
14.1 Introduction
14.2 North America
14.2.1 US
14.2.2 Canada
14.2.3 Mexico
14.3 Europe
14.3.1 Germany
14.3.2 UK
14.3.3 Italy
14.3.4 France
14.3.5 Spain
14.3.6 Rest of Europe
14.4 Asia Pacific
14.4.1 Japan
14.4.2 China
14.4.3 India
14.4.4 Australia
14.4.5 New Zealand
14.4.6 South Korea
14.4.7 Rest of Asia Pacific
14.5 South America
14.5.1 Argentina
14.5.2 Brazil
14.5.3 Chile
14.5.4 Rest of South America
14.6 Middle East & Africa
14.6.1 Saudi Arabia
14.6.2 UAE
14.6.3 Qatar
14.6.4 South Africa
14.6.5 Rest of Middle East & Africa
15 Key Developments
15.1 Agreements, Partnerships, Collaborations and Joint Ventures
15.2 Acquisitions & Mergers
15.3 New Product Launch
15.4 Expansions
15.5 Other Key Strategies
16 Company Profiling
16.1 D & F PROPSHAFTS
16.2 Bailey Morris Limited
16.3 Wilson Drive Shaft
16.4 Yamada
16.5 Meritor
16.6 Rochling Group
16.7 American Axle & Manufacturing, Inc.
16.8 Nexteer Automotive Group Ltd.
16.9 Neapco
16.10 Dana Limited
16.11 Advanced Composite Products & Technology Inc.
16.12 HYUNDAI WIA CORP.
16.13 IFA Group
16.14 JTEKT Corporation
16.15 GKN Plc
List of Tables
1 Global Automotive Drive Shaft Market Outlook, By Region (2020-2028) ($MN)
2 Global Automotive Drive Shaft Market Outlook, By Shaft Type (2020-2028) ($MN)
3 Global Automotive Drive Shaft Market Outlook, By Flexible Drive Shaft (2020-2028) ($MN)
4 Global Automotive Drive Shaft Market Outlook, By Torque Tube Drive Shaft (2020-2028) ($MN)
5 Global Automotive Drive Shaft Market Outlook, By Hotchkiss Drive Shaft (2020-2028) ($MN)
6 Global Automotive Drive Shaft Market Outlook, By Vehicle Type (2020-2028) ($MN)
7 Global Automotive Drive Shaft Market Outlook, By Electric Vehicle (2020-2028) ($MN)
8 Global Automotive Drive Shaft Market Outlook, By Light Commercial Vehicles (2020-2028) ($MN)
9 Global Automotive Drive Shaft Market Outlook, By Heavy Commercial Vehicles (2020-2028) ($MN)
10 Global Automotive Drive Shaft Market Outlook, By Passenger Vehicles (2020-2028) ($MN)
11 Global Automotive Drive Shaft Market Outlook, By Sport Utility Vehicle (SUV)/Multi Utility Vehicle (MUV)/Multi Passenger Vehicle (MPV) (2020-2028) ($MN)
12 Global Automotive Drive Shaft Market Outlook, By Sedan (2020-2028) ($MN)
13 Global Automotive Drive Shaft Market Outlook, By Hatchback (2020-2028) ($MN)
14 Global Automotive Drive Shaft Market Outlook, By Position Type (2020-2028) ($MN)
15 Global Automotive Drive Shaft Market Outlook, By Rear Axle (2020-2028) ($MN)
16 Global Automotive Drive Shaft Market Outlook, By Front Axle (2020-2028) ($MN)
17 Global Automotive Drive Shaft Market Outlook, By Design Type (2020-2028) ($MN)
18 Global Automotive Drive Shaft Market Outlook, By Solid Drive Shafts (2020-2028) ($MN)
19 Global Automotive Drive Shaft Market Outlook, By Hollow Drive Shafts (2020-2028) ($MN)
20 Global Automotive Drive Shaft Market Outlook, By Drive System (2020-2028) ($MN)
21 Global Automotive Drive Shaft Market Outlook, By Two Wheel Drive (2020-2028) ($MN)
22 Global Automotive Drive Shaft Market Outlook, By Four Wheel Drive (2020-2028) ($MN)
23 Global Automotive Drive Shaft Market Outlook, By Material (2020-2028) ($MN)
24 Global Automotive Drive Shaft Market Outlook, By Aluminum (2020-2028) ($MN)
25 Global Automotive Drive Shaft Market Outlook, By Carbon Fiber (2020-2028) ($MN)
26 Global Automotive Drive Shaft Market Outlook, By Steel (2020-2028) ($MN)
27 Global Automotive Drive Shaft Market Outlook, By Sales Channel (2020-2028) ($MN)
28 Global Automotive Drive Shaft Market Outlook, By Original Equipment Manufacturer (OEM) (2020-2028) ($MN)
29 Global Automotive Drive Shaft Market Outlook, By Aftermarket (2020-2028) ($MN)
30 Global Automotive Drive Shaft Market Outlook, By Drive Shaft Type (2020-2028) ($MN)
31 Global Automotive Drive Shaft Market Outlook, By Multi-Piece (2020-2028) ($MN)
32 Global Automotive Drive Shaft Market Outlook, By Slip-In-Tube Drive Shaft (2020-2028) ($MN)
33 Global Automotive Drive Shaft Market Outlook, By Single Piece (2020-2028) ($MN)
34 Global Automotive Drive Shaft Market Outlook, By Distribution Channel (2020-2028) ($MN)
35 Global Automotive Drive Shaft Market Outlook, By Offline (2020-2028) ($MN)
36 Global Automotive Drive Shaft Market Outlook, By Online (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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