Automotive Drive Shaft Market 2018-2028: Regional Analysis and Forecast | Techsci ResearchPosted by Kumar on April 11th, 2023 Global automotive drive shaft market is projected to reach USD 8 Billion by 2028, growing at a CAGR of over 5% during 2024-2028. The major factors contributing to the growth of the market include growing vehicle production, enhanced driving experience, growing demand for low carbon footprint and fuel-efficient vehicles. The fluctuating price of raw material can be one of the challenges for the growth of the drive shaft market, globally. The engine of a vehicle produces power which is transferred to its rear and front axles via a motorized component known as the automotive drive shaft. This component consists of three parts: the inboard constant velocity joint, connecting shaft, and outboard fixed joint, which are usually made of materials such as steel, aluminum, and carbon fiber. The drive shaft is capable of absorbing engine torque, performing well under stress, and withstanding extreme temperatures, while also being strong and lightweight. These characteristics make it a popular choice in both commercial and passenger vehicles, offering benefits such as low running costs, reliability, smooth operation, absence of oil spills, and clean performance. Global automotive drive shaft market is segmented based on vehicle, position, product and region. Based on vehicle, passenger car held the dominant share in the market in 2022 and the trend is likely to continue in the forthcoming years as well. This is due to increasing production and sales of the passenger cars in emerging countries like India, China, Indonesia, and South Africa hence this segment will hold the greater market share in the forecast period. Browse full report with Table Of Content, Figures And Tables - https://www.techsciresearch.com/report/automotive-drive-shaft-market/2403.html Based on position, the rear segment dominated the market in 2022. As most of the commercial vehicles have rear driven shaft, hence the market for rear shaft is projected to grow until 2028. Regionally, APAC region, the largest vehicle producer, is projected to be the largest automotive drive shaft market in terms of market value, during the forecast period. OEMs have established their production bases in countries like China, India given the pull of the local market and the low cost of manufacture. Moreover, growing demand for comfort and stringent fuel efficiency standards are also anticipated to drive the market for automotive drive shafts in the region. Some of the leading players in the global automotive drive shaft market are GKN PLC, NTN Corporation, American Axle & Manufacturing Holdings, Inc., Nexteer Automotive Group Limited, Neapco Holdings LLC, Hyundai Wia Corporation, Trelleborg AB, NKN, Ltd., Yamada Manufacturing Co., Ltd., Ifa Rotorion - Holding GmbH. Objective of the Study:
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the suppliers which could not be identified due to the limitations of secondary research. TechSci Research analysed the service offerings, distribution channels and presence of all major collaboration manufacturer across the globe. TechSci Research calculated the market size of Global Automotive Drive Shaft Market using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analysing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company website, news articles, press releases, company annual reports, investor presentations and financial reports were also used by TechSci Research. Key Target Audience:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as collaboration manufacturer and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities. Download Free Sample Report- https://www.techsciresearch.com/sample-report.aspx?cid=2403 Related Reports: Electric vehicle battery swapping market https://www.techsciresearch.com/report/electric-vehicle-battery-swapping-market/14360.html Agricultural tires market https://www.techsciresearch.com/report/agricultural-tires-market/14286.html
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