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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, 2021-2028
ID:VMR11214089
April 2021
Report Formats: Electronic (PDF), MS EXCEL
Global Automotive Drive Shaft Market Overview
The key driver impacting the automotive drive shaft market is the rapidly growing automotive sector across the globe. The growing sales and production of vehicles are estimated to boost market demand in the coming years. For instance, As per Crescendo Worldwide Organization, the global automobile production in 2019 was estimated as 92 MN Vehicles, and it is anticipated to grow by a CAGR of 20.78% by 2028, and it is estimated to reach around $ 9 trillion by 2030. Moreover, the demand for lightweight and energy-efficient vehicles is also estimated to be a significant determinant that adds growth to the market.
The significant rise in the sales of utility and passenger vehicles worldwide is estimated to improve market demand in the forecast period. according to the international organization of motor vehicle manufacturers (OICA), in 2019, sales of passenger cars increased by about 5% and reached 69.5 million units. Similarly, the commercial vehicles segment showed a steady rise as the sales touching 24 million units in 2019—the global leader of commercial vehicle production is Greater China with 5.3 MN vehicles. however, the high cost of carbon fiber automotive drive shafts may hamper the global automotive drive shaft industry in the long run. the novel COVID-19 pandemic has also negatively impacted the market growth in the forecast period. the current industry trends, such as the improvements in design and advancements in material science, rising emphasis on energy efficiency and environment protection, are expected to provide beneficial market opportunities for the market players.
The automotive drive shaft market is vast, with many local and global players. The key leaders follow several strategies to improve their market position, such as acquisitions, mergers, expansions, product innovations, and extending product portfolio, to enhance their market share globally. The major players included in the report are 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.
In this research report, the automotive drive shaft market is segmented by design type, position type, vehicle type, and region.
Analysis by Design Type:
By design type, the report is categorized into the hollow shaft and solid shaft. The hollow shaft dominates the design type segment with a 65% market share in 2020. It is due to the growing research for vehicle weight reduction in the automotive industry. Also, the several advantages offered by these shafts, such as superior torsional resistance, suitable design strong enough to sustain varying torques received from the engine, make it suitable to be used in passenger cars. Moreover, the growing adoption due to the flexibility and improvised performance over the conventional and heavy solid type contributes to the growth hollow shaft segment in the forecast period.
Analysis by Position Type:
By position type, the report is categorized into the rear axle and the front axle. The front axle dominates the position type segment with a 60% market share in 2020. It is due to the high demand for the front axle as this axle is responsible for helping with processing shocks and steering from the uneven surface of the road. Moreover, most passenger vehicles are front-wheel drive vehicles, owing to their high efficiency and superior maneuverability contribute to the vast market demand in the forecast period.
Analysis by Vehicle Type:
By vehicle type, the report is categorized into passenger cars and commercial vehicles. The passenger car dominates the vehicle type segment with a 70% market share in 2020. It is due to the extensive utilization of passenger cars for the high transportation, and increasing production of passenger vehicles. Moreover, passenger vehicles have a higher penetration of drive shafts due to more number of four-wheel-drive vehicles thus contribute to the passenger vehicle segment growth in the forecast period.
Analysis by Region:
In the regional outlook of the global automotive drive shaft market, the Asia Pacific region dominates with a 35% market share during the forecast period. It is due to the availability of major component manufacturers and the presence of major automotive manufacturers in India, Japan, and China. Moreover, the rising production of vehicles and the growing demand for premium and luxury vehicles among developing countries of the region contribute to the development of the automotive drive shaft market across the Asia Pacific.
Market Segmentation covered in the Report:
By Design Type
By Position Type
By Vehicle Type
By Region
The key driver impacting the automotive drive shaft market is the rapidly growing automotive sector across the globe. The growing sales and production of vehicles are estimated to boost market demand in the coming years. For instance, As per Crescendo Worldwide Organization, the global automobile production in 2019 was estimated as 92 MN Vehicles, and it is anticipated to grow by a CAGR of 20.78% by 2028, and it is estimated to reach around $ 9 trillion by 2030. Moreover, the demand for lightweight and energy-efficient vehicles is also estimated to be a significant determinant that adds growth to the market.
According to Value Market Research, the global automotive drive shaft market was valued at around USD 6500 million in 2020 and is estimated to grow at a CAGR of about 7.5% during the forecast period of 2020 to 2026.
The significant rise in the sales of utility and passenger vehicles worldwide is estimated to improve market demand in the forecast period. according to the international organization of motor vehicle manufacturers (OICA), in 2019, sales of passenger cars increased by about 5% and reached 69.5 million units. Similarly, the commercial vehicles segment showed a steady rise as the sales touching 24 million units in 2019—the global leader of commercial vehicle production is Greater China with 5.3 MN vehicles. however, the high cost of carbon fiber automotive drive shafts may hamper the global automotive drive shaft industry in the long run. the novel COVID-19 pandemic has also negatively impacted the market growth in the forecast period. the current industry trends, such as the improvements in design and advancements in material science, rising emphasis on energy efficiency and environment protection, are expected to provide beneficial market opportunities for the market players.
The automotive drive shaft market is vast, with many local and global players. The key leaders follow several strategies to improve their market position, such as acquisitions, mergers, expansions, product innovations, and extending product portfolio, to enhance their market share globally. The major players included in the report are 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.
In this research report, the automotive drive shaft market is segmented by design type, position type, vehicle type, and region.
Analysis by Design Type:
By design type, the report is categorized into the hollow shaft and solid shaft. The hollow shaft dominates the design type segment with a 65% market share in 2020. It is due to the growing research for vehicle weight reduction in the automotive industry. Also, the several advantages offered by these shafts, such as superior torsional resistance, suitable design strong enough to sustain varying torques received from the engine, make it suitable to be used in passenger cars. Moreover, the growing adoption due to the flexibility and improvised performance over the conventional and heavy solid type contributes to the growth hollow shaft segment in the forecast period.
Analysis by Position Type:
By position type, the report is categorized into the rear axle and the front axle. The front axle dominates the position type segment with a 60% market share in 2020. It is due to the high demand for the front axle as this axle is responsible for helping with processing shocks and steering from the uneven surface of the road. Moreover, most passenger vehicles are front-wheel drive vehicles, owing to their high efficiency and superior maneuverability contribute to the vast market demand in the forecast period.
Analysis by Vehicle Type:
By vehicle type, the report is categorized into passenger cars and commercial vehicles. The passenger car dominates the vehicle type segment with a 70% market share in 2020. It is due to the extensive utilization of passenger cars for the high transportation, and increasing production of passenger vehicles. Moreover, passenger vehicles have a higher penetration of drive shafts due to more number of four-wheel-drive vehicles thus contribute to the passenger vehicle segment growth in the forecast period.
Analysis by Region:
In the regional outlook of the global automotive drive shaft market, the Asia Pacific region dominates with a 35% market share during the forecast period. It is due to the availability of major component manufacturers and the presence of major automotive manufacturers in India, Japan, and China. Moreover, the rising production of vehicles and the growing demand for premium and luxury vehicles among developing countries of the region contribute to the development of the automotive drive shaft market across the Asia Pacific.
Market Segmentation covered in the Report:
By Design Type
- Hollow Shaft
- Solid Shaft
By Position Type
- Rear Axle
- Front Axle
By Vehicle Type
- Passenger Car
- Commercial Vehicle
By Region
- North America
- Europe
- The Asia Pacific
- Latin America
- The Middle East and Africa
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1 . PREFACE
1.1. Report Description
1.1.1. Objective
1.1.2. Target Audience
1.1.3. Unique Selling Proposition (USP) & offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Market Research Process
1.3.2. Market Research Methodology
2 . EXECUTIVE SUMMARY
2.1. Highlights of Market
2.2. Global Market Snapshot
3 . AUTOMOTIVE DRIVE SHAFT – INDUSTRY ANALYSIS
3.1. Introduction - Market Dynamics
3.2. Market Drivers
3.3. Market Restraints
3.4. Opportunities
3.5. Industry Trends
3.6. Porter’s Five Force Analysis
3.7. Market Attractiveness Analysis
3.7.1 By Design Type
3.7.2 By Position Type
3.7.3 By Vehicle Type
3.7.4 By Region
4 . VALUE CHAIN ANALYSIS
4.1. Value Chain Analysis
4.2. Raw Material Analysis
4.2.1. List of Raw Materials
4.2.2. Raw Material Manufactures List
4.2.3. Price Trend of Key Raw Materials
4.3. List of Potential Buyers
4.4. Marketing Channel
4.4.1. Direct Marketing
4.4.2. Indirect Marketing
4.4.3. Marketing Channel Development Trend
5 . IMPACT ANALYSIS OF COVID-19 OUTBREAK
5.1. Impact Analysis of Covid-19 Outbreak
5.1.1. Direct Impact on Production
5.1.2. Supply Chain and Market Disruption
5.1.3. Financial Impact on Firms and Financial Markets
5.2. COVID-19 Impact Analysis by Production, Import, Export and Demand
5.3. Market: Pre V/S Post COVID-19
5.4. Estimated Impact of the Coronavirus (COVID-19) Epidemic
5.5. COVID-19: Micro and Macro Factor Analysis
6 . GLOBAL AUTOMOTIVE DRIVE SHAFT MARKET ANALYSIS BY DESIGN TYPE
6.1 Overview by Design Type
6.2 Historical and Forecast Data
6.3 Analysis by Design Type
6.4 Hollow Shaft Market by Regions
6.5 Solid Shaft Market by Regions
7 . GLOBAL AUTOMOTIVE DRIVE SHAFT MARKET ANALYSIS BY POSITION TYPE
7.1 Overview by Position Type
7.2 Historical and Forecast Data
7.3 Analysis by Position Type
7.4 Rear Axle Market by Regions
7.5 Front Axle Market by Regions
8 . GLOBAL AUTOMOTIVE DRIVE SHAFT MARKET ANALYSIS BY VEHICLE TYPE
8.1 Overview by Vehicle Type
8.2 Historical and Forecast Data
8.3 Analysis by Vehicle Type
8.4 Passenger Car Market by Regions
8.5 Commercial Vehicle Market by Regions
9 . GLOBAL AUTOMOTIVE DRIVE SHAFT MARKET ANALYSIS BY GEOGRAPHY
9.1. Regional Outlook
9.2. Introduction
9.3. North America
9.3.1. Overview, Historic and Forecast Data
9.3.2. North America By Segment
9.3.3. North America By Country
9.3.4. United State
9.3.5. Canada
9.3.6. Mexico
9.4. Europe
9.4.1. Overview, Historic and Forecast Data
9.4.2. Europe by Segment
9.4.3. Europe by Country
9.4.4. United Kingdom
9.4.5. France
9.4.6. Germany
9.4.7. Italy
9.4.8. Russia
9.4.9. Rest Of Europe
9.5. Asia Pacific
9.5.1. Overview, Historic and Forecast Data
9.5.2. Asia Pacific by Segment
9.5.3. Asia Pacific by Country
9.5.4. China
9.5.5. India
9.5.6. Japan
9.5.7. South Korea
9.5.8. Australia
9.5.9. Rest Of Asia Pacific
9.6. Latin America
9.6.1. Overview, Historic and Forecast Data
9.6.2. Latin America by Segment
9.6.3. Latin America by Country
9.6.4. Brazil
9.6.5. Argentina
9.6.6. Peru
9.6.7. Chile
9.6.8. Rest of Latin America
9.7. Middle East & Africa
9.7.1. Overview, Historic and Forecast Data
9.7.2. Middle East & Africa by Segment
9.7.3. Middle East & Africa by Country
9.7.4. Saudi Arabia
9.7.5. UAE
9.7.6. Israel
9.7.7. South Africa
9.7.8. Rest Of Middle East And Africa
10 . COMPETITIVE LANDSCAPE OF THE AUTOMOTIVE DRIVE SHAFT COMPANIES
10.1. Automotive Drive Shaft Market Competition
10.2. Partnership/Collaboration/Agreement
10.3. Merger And Acquisitions
10.4. New Product Launch
10.5. Other Developments
11 . COMPANY PROFILES OF AUTOMOTIVE DRIVE SHAFT INDUSTRY
11.1. Company Share Analysis
11.2. Market Concentration Rate
11.3. Advanced Composite Products & Technology Inc.
11.3.1. Company Overview
11.3.2. Financials
11.3.3. Products
11.3.4. Recent Developments
11.4. Bailey Morris Limited
11.4.1. Company Overview
11.4.2. Financials
11.4.3. Products
11.4.4. Recent Developments
11.5. Dana Limited
11.5.1. Company Overview
11.5.2. Financials
11.5.3. Products
11.5.4. Recent Developments
11.6. HYUNDAI WIA CORP
11.6.1. Company Overview
11.6.2. Financials
11.6.3. Products
11.6.4. Recent Developments
11.7. GKN Plc.
11.7.1. Company Overview
11.7.2. Financials
11.7.3. Products
11.7.4. Recent Developments
11.8. Nexteer Automotive Group Ltd.
11.8.1. Company Overview
11.8.2. Financials
11.8.3. Products
11.8.4. Recent Developments
11.9. American Axle & Manufacturing, Inc
11.9.1. Company Overview
11.9.2. Financials
11.9.3. Products
11.9.4. Recent Developments
11.10. D & F PROPSHAFTS
11.10.1. Company Overview
11.10.2. Financials
11.10.3. Products
11.10.4. Recent Developments
11.11. IFA Group
11.11.1. Company Overview
11.11.2. Financials
11.11.3. Products
11.11.4. Recent Developments
11.12. Nexteer Automotive Group Ltd.
11.12.1. Company Overview
11.12.2. Financials
11.12.3. Products
11.12.4. Recent Developments
11.13. JTEKT Corporation, Wilson Drive Shaft
11.13.1. Company Overview
11.13.2. Financials
11.13.3. Products
11.13.4. Recent Developments
11.14. Neapco
11.14.1. Company Overview
11.14.2. Financials
11.14.3. Products
11.14.4. Recent Developments
*Note - in company profiling, financial details and recent development are subject to availability or might not be covered in case of private companies
LIST OF TABLES
- Market Snapshot
- Drivers : Impact Analysis
- Restraints : Impact Analysis
- List of Raw Material
- List of Raw Material Manufactures
- List of Potential Buyers
- COVID-19 Impact Analysis by Production, Import, Export and Demand
- Pre V/S Post COVID-19
- Estimated Impact Of The Coronavirus (Covid-19) Epidemic
- COVID-19: Micro and Macro Factor Analysis
- Analysis by Design Type (USD MN)
- Hollow Shaft Market by Geography (USD MN)
- Solid Shaft Market by Geography (USD MN)
- Analysis Market by Position Type (USD MN)
- Rear Axle Market by Geography (USD MN)
- Front Axle Market by Geography (USD MN)
- Analysis by Vehicle Type (USD MN)
- Passenger Car Market by Geography (USD MN)
- Commercial Vehicle Market by Geography (USD MN)
- Global Automotive Drive Shaft Market by Geography (USD MN)
- North America Market Analysis (USD MN)
- United State Market Analysis (USD MN)
- Canada Market Analysis (USD MN)
- Mexico Market Analysis (USD MN)
- Europe Market Analysis (USD MN)
- Europe Market Estimate by Country (USD MN)
- United Kingdom Market Analysis (USD MN)
- France Market Analysis (USD MN)
- Germany Market Analysis (USD MN)
- Italy Market Analysis (USD MN)
- Russia Market Analysis (USD MN)
- Spain Market Analysis (USD MN)
- Rest of Europe Market Analysis (USD MN)
- Asia Pacific Market Analysis (USD MN)
- China Market Analysis (USD MN)
- Japan Market Analysis (USD MN)
- India Market Analysis (USD MN)
- South Korea Market Analysis (USD MN)
- Australia Market Analysis (USD MN)
- Rest of Asia Pacific Market Analysis (USD MN)
- Latin America Market Analysis (USD MN)
- Brazil Market Analysis (USD MN)
- Argentina Market Analysis (USD MN)
- Peru Market Analysis (USD MN)
- Chile Market Analysis (USD MN)
- Rest of Latin America Market Analysis (USD MN)
- Middle East & Africa Market Analysis (USD MN)
- Saudi Arabia Market Analysis (USD MN)
- UAE Market Analysis (USD MN)
- Israel Market Analysis (USD MN)
- South Africa Market Analysis (USD MN)
- Rest of Middle East and Africa Market Analysis (USD MN)
- Partnership/Collaboration/Agreement
- Mergers And Acquisiton
LIST OF FIGURES
- Research Scope of Automotive Drive Shaft Report
- Market Research Process
- Market Research Methodology
- Global Automotive Drive Shaft Market Size, by Region (USD MN)
- Porters Five Forces Analysis
- Market Attractiveness Analysis by Design Type
- Market Attractiveness Analysis by Position Type
- Market Attractiveness Analysis by Vehicle Type
- Market Attractiveness Analysis by Region
- Value Chain Analysis
- Global Market Analysis by Design Type (USD MN)
- Hollow Shaft Market by Geography (USD MN)
- Solid Shaft Market by Geography (USD MN)
- Global Market Analysis by Position Type (USD MN)
- Rear Axle Market by Geography (USD MN)
- Front Axle Market by Geography (USD MN)
- Global Market Analysis by Vehicle Type (USD MN)
- Passenger Car Market by Geography (USD MN)
- Commercial Vehicle Market by Geography (USD MN)
- Global Market by Revenue
- North America Market by Revenue
- Europe Market by Revenue
- Asia Pacific Market by Revenue
- Latin America Market by Revenue
- Middle East & Africa Market by Revenue
- Recent Development in Industry
- Company Market Share Analysis
* Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.
Related Categories
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Objectives of Study
- Define and measure the global market
- Volume or revenue forecast of the global market and its various sub-segments with respect to main geographies
- Analyze and identify major market trends along with the factors driving or inhibiting the market growth
- Study the company profiles of the major market players with their market share
- Analyze competitive developments