Global Automotive Drive Shaft Market is valued approximately at USD 6.40 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 6.37% over the forecast period 2019-2026. Automotive drive shafts are components (motorized) used for transporting torque to the one end of the vehicle from the engine prior to it reaches the wheels. Also, automotive drive shaft has high endurance and it allows non stopping rotation in vehicles at accurate high speed making it suitable for the automotive sector. Also, growing demand for light-weight vehicles’ components to improve the efficiency of vehicle acts as a major factor supplementing the growth of the market. According to the U.S. department of Energy, reduction of 10% in vehicle weight result in about 6-8% fuel economy improvement. As per the source, replacement of traditional steel or cast iron with lightweight materials such as can directly reduce the weight of a vehicle’s body and chassis up to 50% thus, reduces fuel consumption. As a result, the demand and adoption of automotive drive shaft would increase. However, fluctuations in raw material prices is beholding the confidence of automakers towards purchase of automotive drive shaft globally.
The regional analysis of global Automotive Drive Shaft Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world in terms of market share owing to the stringent policies such as EPA (Environment Protection Authority) and CAF? (Corporate Average Fuel Economy) regulation forced the automotive manufacturers to reduce the weight & emissions of vehicles. Whereas, Asia-Pacific is anticipated to emerge as the fastest growing market region during the forecast period 2019- 2026. Factors such as increasing investment in the automobile industry in countries such as China and India would create lucrative growth opportunities for the region.
Major market player included in this report are:
Nexteer Automotive Group Limited
American Axle & Manufacturing Holdings, Inc.
Hyundai Wia Corporation
Neapco Holdings LLC
IFA Rotorion - Holding GmbH
Yamada Manufacturing Co., Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Vehicle Type:
Light Commercial Vehicle (LCV)
Front Axle shaft
Rear Axle shaft
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016-,2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Automotive Drive Shaft Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers