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Drive Shaft Market Research Report - Global Forecast to 2030

Drive Shaft Market Research Report, Information: by Vehicle Type (Passenger Cars, Light Commercial Vehicle, and Heavy Commercial Vehicle), Design (Hollow Drive Shafts and Solid Drive Shafts), Position (Front Drive Shaft and Rear Drive Shaft), and Region (North America, Europe, Asia-Pacific, and the Rest of the World)- Forecast till 2030

ID: MRFR/IA - E/6277-HCR | December 2022 | Region: Global | 100 Pages         

Drive Shaft Market

Drive Shaft Market Size is expected to cross USD 9.45 billion by 2030 at a CAGR of 6.40% during the forecast period ending in 2030

Segmentation

By Vehicle Type Passenger Cars Light Commercial Vehicle Heavy Commercial Vehicle
By Design Front Drive Shaft Rear Drive Shaft

Key Players

  • 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).

Drivers

  • 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
  • Increasing vehicle sales
  • Increase in the development of automotive industry
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Drive Shaft  Market Overview:


A driveshaft is a fundamental piece of vehicle driveline. It is essentially a turning tube that interfaces with the back of the transmission and sends the turning power that starts in the motor to the vehicle's rear at the differential.


A driveshaft is utilized for conveying the force from the grasp and transmission as expected to a driving hub or to raise the pivot of the vehicle. The drive shaft functions as a medium to move the power created by the motor to the wheels, empowering them to turn and drive the car.


The driveshafts are produced with direct remittance for some trim level of development at the places where the driveshafts are associated with support under a curving or turning movement. Moreover, a drive shaft empowers the capacity with a hub and CV joint and permits force exchange from the transmission to the wheels. This allows the vehicle to be driven at the expected speed.


The rising vehicle deals and the expansion in the advancement of the auto industry are factors expected to help the interest for drive shafts during the estimated time frame. Besides, the rising interest for lightweight driveshafts to satisfy the need for eco-friendly vehicles with the tough standards presented by the worldwide discharge control specialists set out development open doors for the global drive shaft market during the estimated time frame. Be that as it may, the rising interest in electric vehicles worldwide is supposed to hamper the market development during the figure time frame.


Drive Shaft Market Key Players


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).


Recent Developments:


The Year 2015:


The worldwide market for empty drive shafts is the biggest, with a piece of the pie of 65% regarding volume. If there should be an occurrence of wooden drive screws, the market for this portion is driven by light business vehicles. OEMs are taking on lightweight side shafts that proposition better eco-friendliness when contrasted and an inflexible drive shaft.


The worldwide drive shaft market is overwhelmed by a few global and neighbourhood players, and some of them are GKN Plc. (U.K.), Nexteer Automotive (U.S.), NTN Corporation (Japan), Hyundai WIA Corporation (South Korea), and Trelleborg AB (Sweden), among others.


Drive Shaft Market 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.



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: USD 9.45 billion
  CAGR   2030: 6.40% CAGR
  Base Year   2021
  Forecast Period   2022- 2030
  Historical Data   2022
  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

  • Increasing vehicle sales
  • Increase in the development of automotive industry


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    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.