$20 Billion Worldwide Automotive Drive Shaft Industry to 2027 - Featuring IFA, JTEKT, Melrose Industries and Meritor Among Others

Dublin, Jan. 18, 2023 (GLOBE NEWSWIRE) -- The "Automotive Drive Shaft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global automotive drive shaft market size reached US$ 14.8 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 20.17 Billion by 2027, exhibiting a CAGR of 5.29% during 2021-2027.

Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

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.

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.

Key Questions Answered in This Report:

  • How has the global automotive drive shaft market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global automotive drive shaft market?
  • What are the key regional markets?
  • What is the breakup of the market based on the drive shaft type?
  • What is the breakup of the market based on the design type?
  • What is the breakup of the market based on the position type?
  • What is the breakup of the market based on the material?
  • What is the breakup of the market based on the vehicle type?
  • What is the breakup of the market based on the sales channel?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global automotive drive shaft market and who are the key players?
  • What is the degree of competition in the industry?
Report AttributeDetails
No. of Pages148
Forecast Period2021 - 2027
Estimated Market Value (USD) in 2021$14.8 Billion
Forecasted Market Value (USD) by 2027$20.17 Billion
Compound Annual Growth Rate5.2%
Regions CoveredGlobal

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction
4.1 Overview
4.2 Key Industry Trends

5 Global Automotive Drive Shaft Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 Market Breakup by Drive Shaft Type
6.1 Single Piece
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Multi-Piece
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Slip-In-Tube Drive Shaft
6.3.1 Market Trends
6.3.2 Market Forecast

7 Market Breakup by Design Type
7.1 Hollow Shaft
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Solid Shaft
7.2.1 Market Trends
7.2.2 Market Forecast

8 Market Breakup by Position Type
8.1 Rear Axle
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Front Axle
8.2.1 Market Trends
8.2.2 Market Forecast

9 Market Breakup by Material
9.1 Steel
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Aluminum
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Carbon Fiber
9.3.1 Market Trends
9.3.2 Market Forecast

10 Market Breakup by Vehicle Type
10.1 Passenger Vehicle
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Commercial Vehicle
10.2.1 Market Trends
10.2.2 Market Forecast

11 Market Breakup by Sales Channel
11.1 Original Equipment Manufacturer (OEM)
11.1.1 Market Trends
11.1.2 Market Forecast
11.2 Aftermarket
11.2.1 Market Trends
11.2.2 Market Forecast

12 Market Breakup by Region

13 SWOT Analysis

14 Value Chain Analysis

15 Porters Five Forces Analysis

16 Price Analysis

17 Competitive Landscape
17.1 Market Structure
17.2 Key Players
17.3 Profiles of Key Players
17.3.1 Advanced Composite Products & Technology Inc. Company Overview Product Portfolio
17.3.2 American Axle & Manufacturing Inc. Company Overview Product Portfolio Financials SWOT Analysis
17.3.3 Dana Incorporated Company Overview Product Portfolio Financials SWOT Analysis
17.3.4 Hyundai Wia Corporation (Hyundai Motor Group) Company Overview Product Portfolio Financials SWOT Analysis
17.3.5 IFA Group Company Overview Product Portfolio
17.3.6 JTEKT Corporation Company Overview Product Portfolio Financials
17.3.7 Melrose Industries PLC Company Overview Product Portfolio Financials
17.3.8 Meritor Inc. (Cummins Inc.) Company Overview Product Portfolio Financials SWOT Analysis
17.3.9 Neapco Inc. Company Overview Product Portfolio
17.3.10 Nexteer Automotive Company Overview Product Portfolio
17.3.11 NKN Ltd. Company Overview Product Portfolio
17.3.12 NTN Corporation Company Overview Product Portfolio Financials

For more information about this report visit https://www.researchandmarkets.com/r/mng59n


Global Automotive Drive Shaft Market