Automotive Drive Shaft - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Automotive Drive Shaft Market is accounted for $5.70 billion in 2019 and is expected to reach $10.71 billion by 2027 growing at a CAGR of 8.2% during the forecast period. Some of the factors such as growing vehicle production, enhanced driving experience, increasing demand for low carbon footprint, and fuel-efficient vehicles are propelling the market growth. However, the fluctuating cost of raw material and growing electric vehicles are hindering the market growth.
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.
Based on the drive shaft type, the multi-piece segment is likely to have a huge demand 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. Moreover, a surge in focus toward the development of high performance vehicles and automotive components is expected to drive the multi-piece segment of the market during the forecast period.
By geography, the Asia Pacific is estimated to have a lucrative growth 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.
Some of the key players profiled in the Automotive Drive Shaft Market include GKN Plc., American Axle & Manufacturing, Inc., Nexteer Automotive Group Ltd., Neapco, Dana Limited, Advanced Composite Products & Technology Inc., HYUNDAI WIA CORP., IFA Group, JTEKT Corporation, D & F PROPSHAFTS, Bailey Morris Limited, Wilson Drive Shaft, Yamada, Meritor, and Rochling Group.
Position Types Covered:
• Front Axle
• Rear Axle
Design Types Covered:
• Solid Drive Shafts
• Hollow Drive Shafts
Vehicle Types Covered:
• Electric Vehicle
• Passenger Vehicles
• Light Commercial Vehicles
• Heavy Commercial Vehicles
Shaft Types Covered:
• Hotchkiss Drive Shaft
• Flexible Drive Shaft
• Torque Tube Drive Shaft
• Carbon Fiber
Drive Shaft Types Covered:
• Single Piece
• Slip-in-tube Drive Shaft
Drive Systems Covered:
• Two Wheel Drive
• Four Wheel Drive
Sales Channels Covered:
• Original Equipment Manufacturer (OEM)
Distribution Channels Covered:
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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