Global Automotive Driveshaft Couplings Market Overview
An automotive drive shaft coupling is a mechanical component connecting the driver shaft and driven shaft of the engine and the wheels to transmit power. The purpose of the shaft couplings is to introduce mechanical flexibility, provide tolerance for shaft misalignment, maintain the shaft's rigidity, reduce vibration or noise, resist sudden shock loads, reduce uneven wear on the bearing, and allow smooth rotation to be transmitted. Automotive production has grown, resulting in a parallel requirement for driveshaft couplings. There has been a drastic rise in automobiles production and sales due to the increasing purchasing power, thriving businesses, vehicle electrification, demand for automated and comfortable vehicles, stringent vehicle expiration rules, and revival of carbon emission norms. Automakers are working on bringing more sustainable vehicles. Electrification of a vehicle is a major sustainable initiative taken by the automotive industry. Furthermore, automakers are striving hard to reduce the overall automotive weight to boost fuel efficiency and deduct carbon emissions. Customers are demanding quieter cabins & increased comfort in vehicles. Regulations for greenhouse gas emissions from passenger and commercial cars have been revised, putting the burden on automakers to manufactures automotive are meeting new norms. All these trends are influencing demand as well as innovation in the market. These trends have caused the regular introduction of new models of driveshaft couplings
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According to Value Market Research, the global automotive driveshaft couplings market size was valued at about USD 17.8 billion in 2020 and is estimated to grow at a CAGR of around 3 % during the forecast period 2021 to 2027.
Along with changing automotive trends, automotive driveshaft couplings have undergone many changes in their design and material. New technologies and approaches towards the manufacture of the better drive shaft and couplings and the development of new materials for drive shaft couplings for lightweight and long life will play a crucial role in the automotive drive shaft couplings market in the near future. State-of-the-art manufacturing technologies, such as 3D printing and additive manufacturing, ease the process and enhance the quality of products. However, economic uncertainties and trade restriction is estimated to hinder the market growth. The automotive industry is experiencing a steep decline due to the economic slowdown caused due to COVID-19 pandemic and instability in international relations. The economic downturn has resulted in recession and weakening purchasing power.
The global automotive driveshaft couplings market consists of well-established vendors with strong brand value and expertise. The market is dominated by players such as Dana Limited, BorgWarner Inc., Nexteer Automotive, Suddeutsche Gelenkscheibenfabrik GmbH & Co. Kgis, CO.R.A. S.r.l., Superior Driveline, GKN Automotive, Meritor, Inc., Hyundai WIA Corp., Gestamp Automoción, Jtekt Corporation.
In this research report, the automotive driveshaft couplings market is segmented by couplings type, vehicle type, material type, and region.
Analysis, By Coupling Type
By coupling type, the automotive driveshaft coupling market is segmented into mechanical element flexible shaft coupling, elastomeric element coupling, and metallic membrane or disc type coupling. Each of these couplings has its merits and demerits. Flexible coupling is the most lucrative segment in the market. Flexible couplings are high-performance couplings designed to accommodate the inevitable displacement between the centre lines of two rotating shafts. They offer transmission of the needed torque at the requisite speed with a minimum of extraneous forces and perturbations exercised on either the driver or driven shaft. Flexible couplings not only transmit torque, but accommodate for misalignment between shafts as well.
Analysis, By Vehicle Type
By vehicle type, the market is segmented into passenger vehicles and commercial vehicles. Among which passenger vehicles dominated the global market. Production of passenger vehicles is spurring due to the growing purchasing power of the middle class, launch of new car models, emerging trend of lightweight vehicles, vehicle electrification, and revival of vehicle expiration and emission norms. Production of commercial vehicles is also projected to swell with the growing logistic and leasing market. All these will eventually contribute to the ever-increasing demand for automotive driveshaft couplings.
Analysis, By Material Type
By material type, the global automotive driveshaft couplings market is segmented into cast iron, elastomeric material, composites, and others. Among these composite segments is emerging as the most lucrative due to the automotive industry's comfort and lightweight vehicle trend. A composite drive shaft coupling offers excellent vibration damping, cabin comfort, reduced wear on drivetrain components, and tire traction. Additionally, it reduces assembly time, inventory cost, maintenance, and part complexity. Composites offer higher specific elastic modulus, exceed four times that of cast iron, enable replacing the two-piece metal shaft with a single-component composite shaft that resonates at a higher rotational speed and ultimately maintains a higher margin of safety.
Analysis, By Region
Based on region, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific ranks highest in terms of revenue and will remain prominent during the forecast period. Asia Pacific market has emerged as the largest automotive industry and, consequently, the largest automotive driveshaft couplings worldwide. The region will post the most active growth and remain dominant due to its large consumer base. Potential prospects are expected attributed to a substantial gain in manufacturing activity, personal income level, consumer expenditure, combined with favorable urbanization and regulation. Overall, some best growth rates are witnessed in China, Japan, and India.
Market Segmentation covered in the Report:
By Coupling Type
- Mechanical Element Flexible Shaft Coupling
- Elastomeric Element Coupling
- Metallic Membrane/Disc Type Coupling
By Vehicle Type
- Passenger Car
- Commercial Vehicle
By Material Type
- Cast Iron
- Elastomeric Material
- Composites
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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