Global Automotive Drive Shaft Market
Global Automotive Drive Shaft Market was valued US$ 3.29Bn in 2017 and is expected to reach US$ 5.37Bn by 2026 at a CAGR of about 6.32% during a forecast.
Global Automotive Drive Shaft Market
An automotive drive shaft is a mechanical component for transmitting torque and rotation, usually used to connect other components of a drive train that cannot be connected directly because of distance or the need to allow for relative movement between them.
Major driving factors of the Automotive Drive Shaft market are the growth in automobile sector. Stringent carbon emission regulations by governments. Day by day changing consumer needs with the increase in purchasing power of the people are creating market opportunity in to automotive drive shaft market. Automakers are increasingly being predisposed toward the development of smart and energy efficient cars to meet stringent government regulations on vehicular emissions. Growing concern for fuel efficiency in developing countries are impacting positively on drive shaft market. Leading manufacturers to develop lightweight drive shafts without compromising on their performance and rigidness. Instability in economics and rising raw material cost will act as restraint to the market.
Based on Vehicle Type, Passenger Vehicles is expected to hold the largest share in the market during the forecast period. Automation and connectivity are driving the passenger vehicle industry. Owing to the increasing manufacturing across the Asia pacific. High availability of raw materials and low-cost labours will promote passenger vehicle industry across the globe. Inclining international and local trading activities world-wide will fuel the heavy duty trucks industry growth over the projected timeframe.
In Trends â€“ Carbon Fiber Driveshaft Technology
In terms of region, Asia Pacific is expected to hold the largest share in the market during the forecast period for automotive Drive Shaft. Asia is growing faster in Industrial development, according to the International Energy Agency (IEA). Both India and China are key players in the region. Both are mature exporter into vehicle segment, and have mature, developed economies with slowly rising populations. Demand across major trading nations will remain robust, with many more countries building or planning to build receiving terminals. There are relative newcomers such as Singapore, Thailand, Vietnam, New Zealand and the Philippines in to automotive Drive Shaft market.
The Automotive Drive Shaft report includes a study of Porterâ€™s Five Forces model to analyse the different factors affecting the growth of the market. Moreover, the study also covers a market attractiveness analysis, brand portfolio expansion, mergers, collaborations, joint ventures, acquisitions, PESTLE analysis, Value Chain Analysis, and SWOT analysis.
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Scope of the Report Global Automotive Drive Shaft market:
Global Automotive Drive Shaft market by Type
- Flexible Drive-Shaft
- Torque Tube Drive-Shaft
- Hotchkiss Drive-Shaft
Global Automotive Drive Shaft market by Vehicle Type
- Passenger Vehicles
- Commercial Vehicle
Global Automotive Drive Shaft market by Position
- Rear Wheel
- Front Wheel
Global Automotive Drive Shaft market by region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
Key Player Operating in Global Automotive Drive Shaft Market
- GKN Plc
- Nexteer Automotive
- NTN Corporation
- Hyundai WIA
- Trelleborg AB
- Xuchang Yuangdong Driveshaft Co., Ltd
- Neapco Holdings, LLC
- Dana Incorporated
- American Axle Manufacturing
- IFA Rotorion
This Report Is Submitted By : Maximize Market Research Company
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