The drive shaft is a basic piece of the vehicle driveline and is responsible for transmitting the power from the engine to the wheels. Drive shafts are made up of many different parts and are designed to adapt to changing loads. These changes in load occur as a vehicle accelerates and decelerates, causing the drive shaft to experience heavy loads.
The drive shaft is responsible for transferring torque from the engine to the wheels and reduces the vehicle's overall weight. The shaft should be balanced so that the torque generated by the engine is transferred to the wheels in a smooth and efficient manner. Different types of vehicles use different types of drive trains, however, all vehicles require a drive shaft to rotate. Automotive drive shafts can be three pieces or two pieces. Three-piece designs prevent damage to the drive shaft at high speeds.
The growth of the automotive drive shaft market is primarily driven by the increasing demand for environment-friendly vehicles and the expansion of the auto industry. Rising demand for lightweight drive shafts in light-duty vehicles is expected to drive the market growth. Furthermore, stringent discharge control standards are expected to create new opportunities in the market. Increasing sales of electric vehicles is another factor contributing to the growth of the automotive drive shaft market.
However, the emergence of composite drive shafts, fluctuating prices of raw materials, and COVID-19 impact on the market are the factors expected to hamper the growth of this market.
Key features of the study:
- This report provides in-depth analysis of the global automotive drive shaft market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global automotive drive shaft market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Wanxiang Qianchao Co. Ltd., GKN PLC (Melrose Industries PLC), American Axle Manufacturing Holdings Inc., JTEKT Corporation, Yamada Manufacturing Co. Ltd., NTN Corporation, Dana Holding Corporation, Showa Corporation, Hyundai Wia Corporation, and Nexteer Automotive Group Ltd.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global automotive drive shaft market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global automotive drive shaft market
- Global Automotive Drive Shaft Market, By Design Type
- Global Automotive Drive Shaft Market, By Position Type
- Global Automotive Drive Shaft Market, By Vehicle Type
- Passenger Car
- Commercial Vehicles
- Global Automotive Drive Shaft Market, By Geography
- North America
- Rest of the World
- Company Profiles
- GKN PLC (Melrose Industries PLC)
- JTEKT Corporation
- Dana Holding Corporation
- Hyundai Wia Corporation
- Nexteer Automotive Group Ltd
- Showa Corporation
- Yamada Manufacturing Co. Ltd
- American Axle Manufacturing Holdings Inc.
- Wanxiang Qianchao Co. Ltd
- NTN Corporation