Automotive Drive Shaft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Automotive Drive Shaft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A6104
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Market Overview:

The global automotive drive shaft market size reached US$ 15.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 21.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.8% during 2023-2028.

An automotive drive shaft refers to a motorized component that transfers the power produced by the engine from the gearbox to the rear axle and front axle to move the vehicle. This torque is transferred between components that are separated by distance. It consists of the inboard constant velocity joint, connecting shaft, and outboard fixed joint generally made using steel, aluminum, and carbon fiber. An automotive drive shaft is strong and lightweight and can absorb engine torque, perform well under stress, and withstand extreme temperatures, due to which it is commonly used in commercial and passenger vehicles. Other product benefits include low running costs, smoothness, absence of oil spills, reliability, and clean operation.

Automotive Drive Shaft Market Trends:

The increasing demand for electric vehicles (EVs) across the globe is creating a positive outlook for the market. Automotive drive shaft enhances durability and efficiency while optimizing noise, vibration, and harshness (NVH) performance. In line with this, inflating fuel prices and the implementation of various government initiatives to control emission levels are favoring the market growth. Apart from this, manufacturers are inclining toward fiber-reinforced polymer composites over steel to manufacture lightweight automotive drive shafts. Such advancements assist in maintaining the performance and rigidness of the drive shaft, increasing fuel efficiency, and providing higher torque capacity, which is providing an impetus to the market growth. Additionally, key players are adopting clean manufacturing processes, such as electron beam welding, that offer a high level of reliability with no oxidation. This, in turn, is positively influencing the market growth. Other factors, including the increasing demand for hollow shafts, rising disposable incomes, and extensive research and development (R&D) activities in the automotive industry, are supporting the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive drive shaft market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on drive shaft type, design type, position type, material, vehicle type and sales channel.

Breakup by Drive Shaft Type:

  • Single Piece
  • Multi-Piece
  • Slip-In-Tube Drive Shaft
     

Breakup by Design Type:

  • Hollow Shaft
  • Solid Shaft
     

Breakup by Position Type:

  • Rear Axle
  • Front Axle
     

Breakup by Material:

  • Steel
  • Aluminum
  • Carbon Fiber
     

Breakup by Vehicle Type:

  • Passenger Vehicle
  • Commercial Vehicle
     

Breakup by Sales Channel:

  • Original Equipment Manufacturer (OEM)
  • Aftermarket
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Advanced Composite Products & Technology Inc., American Axle & Manufacturing Inc., Dana Incorporated, Hyundai Wia Corporation (Hyundai Motor Group), IFA Group, JTEKT Corporation, Melrose Industries PLC, Meritor Inc. (Cummins Inc.), Neapco Inc., Nexteer Automotive, NKN Ltd. and NTN Corporation.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Drive Shaft Type, Design Type, Position Type, Material, Vehicle Type, Sales Channel, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Advanced Composite Products & Technology Inc., American Axle & Manufacturing Inc., Dana Incorporated, Hyundai Wia Corporation (Hyundai Motor Group), IFA Group, JTEKT Corporation, Melrose Industries PLC, Meritor Inc. (Cummins Inc.), Neapco Inc., Nexteer Automotive, NKN Ltd. and NTN Corporation
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Automotive Drive Shaft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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