ID: MRFR/IA - E/6277-HCR | February 2021 | Region: Global | 100 pages
Drive shaft is an essential part of vehicle driveline and is basically a spinning tube that connects to the rear of the transmission and transmits the spinning power that begins in the engine to the back of the vehicle at the differential. Drive shaft is used for carrying the torque from the clutch and transmission as required to driving axle or to rear axle of the vehicle. The drive shaft works as a medium to transfer the power generated by the engine to the wheels, enabling them to turn and drive the vehicle. 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 increasing vehicle sales and the increase in the development of automotive industry are factors expected to boost the demand for drive shafts during the forecast period. Moreover, the increasing demand for light weight drive shafts to meet the demand for fuel efficient vehicles with the stringent norms posed by the international emission control authorities create growth opportunities for the global drive shaft market during the forecast period. However, the increasing demand for electric vehicle, all over the world is expected to hamper the market growth during the forecast period.
The prominent players in the global drive shaft industry are GKN PLC (UK), Advanced Composite Products & Technology, Inc. ACPT, Inc. (US), American Axle & Manufacturing Holdings, Inc. (US), Neapco Holdings, LLC (US), Dana Holding Corporation (US), Yamada Manufacturing Co., Ltd. (Japan), Trelleborg AB (Sweden), NTN Corporation (Japan), Ifa Rotorion - Holding GmbH (Germany), and The Timken Company (US).
Segmentation: Drive Shaft Market
The global drive shaft market is segmented based on vehicle type, design, position, and region. On the basis of vehicle type, the market has been segmented into passenger cars, light commercial vehicle (LCV), and heavy commercial vehicle (HCV). On the basis of design, the market has been segmented into hollow drive shafts and solid drive shafts. On the basis of position, the market has been segmented into front drive shaft and rear drive shaft.
Geographically, the global drive shaft market has been segmented into four major regions, which are North America, Europe, Asia-Pacific, and the Rest of the World. The drive shaft market in Asia-Pacific held the largest market share and is expected to register the highest growth rate in the global drive shaft market. Asia-Pacific is characterized by the presence of emerging economies and accounts for a share of global vehicle sales, which is expected to continue over the forecast period. Moreover, significant GDP growth and an increase in per capita income are the prime factors responsible for the growth of the automotive industry and expected to positively impact on the demand for drive shaft during the forecast period in this region. Europe held the second largest market share owing to the favorable government policies, the presence of leading OEMs, and developed automobile infrastructure.
The Market Research Future report on the global drive shaft market covers extensive primary research. This is accompanied by a detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
|Market Size||2027: Significant Value|
|CAGR||2027: Substantial CAGR|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Vehicle Type , Design and Position|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||GKN PLC (UK), Advanced Composite Products & Technology, Inc. ACPT, Inc. (US), American Axle & Manufacturing Holdings, Inc. (US), Neapco Holdings, LLC (US), Dana Holding Corporation (US), Yamada Manufacturing Co., Ltd. (Japan), Trelleborg AB (Sweden), NTN Corporation (Japan), Ifa Rotorion - Holding GmbH (Germany), and The Timken Company (US).|
|Key Market Opportunities||Increasing demand for light weight drive shafts to meet the demand for fuel efficient vehicles with the stringent norms posed by the international emission control authorities|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
A few significant players of the global drive shaft market are Trelleborg AB (Sweden), Ifa Rotorion - Holding GmbH (Germany), NTN Corporation (Japan), and The Timken Company (US), among others.
The HVC segment is expected to drive market growth over the review period.
The hollow drive shafts segment is likely to witness the highest demand in the drive shaft market.
The north American region is expected to witness the highest growth.
The front drive shaft segment is slated to witness higher growth over the assessment period.