Automotive Drive Shaft Market Revenue to outshine USD 10.78 BN By 2027
Posted On April 01, 2021
The Global Automotive Drive Shaft Market revenue is anticipated to grow to around USD 10.78 BN by 2027 with a CAGR of 7.5% during the year 2021-2027 as per the report published by Value Market Research. The rapid rise in production and sales of all-wheel-drive vehicles that use driveshafts as an integral part of the transmission system will be the key driver for the automotive drive shaft market. The availability of specially designed drive shafts that improves crash safety and can be used at automotive testing plants will expand market growth. New manufacturing possibilities existing for the production of these complicated drive shafts will enhance the market growth. The use of drive shafts in motorcycles, marine vessels, and locomotives will be a market booster. The growing adoption of electric Vehicles among the urban community will create lucrative opportunities for market growth. The fluctuating price of raw materials is the primary restraint for this market growth.
An automotive drive shaft is a longitudinal component used to transmit mechanical power, torque, rotation from the engine to the other vehicle's end. The power from a central differential, transmission, or transaxle are passed on to the wheels using shorter driveshafts. It is usually used as a connecting component between the drive train and other moving parts of an automotive that cannot be connected directly. Driveshafts generally have one or more universal joints or jaw couplings to compensate for variations in alignment and distance between the driving and the driven components. They must be strong enough to bear the torsion and shear stress a vehicle is subject to. There are many different types of drive shafts available to suit the design of the automotive.
The elaborate study "Global Automotive Drive Shaft Market Report By Design Type (Hollow Shaft, Solid Shaft), By Position Type (Rear Axle, Front Axle), By Vehicle Type ( Passenger Car, Commercial Vehicle) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2027" poses a refreshing view of the market taking into consideration all the aspects affecting the market.
On the basis of Design Type the market is segmented into Hollow Shaft, Solid Shaft. By Position Type the automotive drive shaft market is categorised as Rear Axle, Front Axle.By Vehicle Type the automotive drive shaft market is categorised as Passenger Car, Commercial Vehicle. The report covers North America (North America, United State and Rest of North America), Europe (United Kingdom, France , Germany, Rest of Europe), Asia Pacific (China, Japan, India, Rest of Asia Pacific), Latin America (Brazil, Rest of Latin America) and Middle East & Africa. The data tables in these chapters give the market estimates on the basis of all the segments.
The Report Segments Global Automotive Drive Shaft Market -
By Design Type
By Position Type
By Vehicle Type
- Passenger Car
- Commercial Vehicle
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
Players Profiled In the Report:
Advanced Composite Products & Technology Inc., Bailey Morris Limited, Dana Limited, HYUNDAI WIA CORP, GKN Plc., Nexteer Automotive Group Ltd., American Axle & Manufacturing, Inc.,D & F PROPSHAFTS, IFA Group, Nexteer Automotive Group Ltd., JTEKT Corporation, Wilson Drive Shaft, and Neapco.
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