Automotive Drive Shaft Market
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PUBLISHED: 2022 ID: SMRC20050
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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

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4.5 (39 reviews)
Published: 2022 ID: SMRC20050

This report covers the impact of COVID-19 on this global market
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 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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