Automotive Drive Shaft Market
The global automotive drive shaft market is expected to record a CAGR 5.75% during the forecast period. The recovery of the automotive industry has directly fueled the growth of the drive shaft market, as they are indispensable for conventional IC engine and hybrid automobiles.
Growing concern for fuel efficiency and the stringent norms posed by the international emission control authorities have provoked the manufacturers to develop lightweight drive shafts without compromising on their performance and rigidness. Composite drive shafts which are the new entrants in the global market, boast incredibly high torque and safety standards.
Hollow drive shafts are anticipated to capture the global market due to their flexibility and improvised performance over the conventional and heavy solid type. Their design is robust enough to sustain varying torques received from the engine and are classified into two types based on the position of transmission – front and rear end.
Source: Mordor Intelligence Analysis
Rise in Vehicle Production and Sales
Owning a vehicle is no longer a luxury but has now become a necessity, owing to the busy lifestyles and long transits. Growing population and higher disposable income in the developing economies resulted in a subsequent spike in vehicle-owning households globally. The global production of passenger cars alone increased from 40.1 million in 2001 to 73.45 million in 2017, and that of overall vehicles was around 97.30 million in 2017. These numbers clearly indicate the growing automotive industry. Subsequently, the EPA policies and stringent CAFE regulations forced the automotive manufacturers to reduce the weight of the vehicles to reduce emissions and fuel consumptions, which in turn is driving the market for automotive drive shaft market.
The engine which was the only power house of an automobile until at least the end of the previous century is facing a serious threat from alternative power sources, like the electric vehicles, fuel cell vehicles, etc. The exhaust emission from the conventional internal combustion engine has become a significant contributor to the environmental pollution. According to some studies, the emissions from the vehicles all over the world account for more than one-fourth of the global greenhouse gases. Even though the conventional engine was known to produce harmful gases, the unavailability of a potential replacement made it the only reliable source of energy.
Key Developments in the Automotive Drive Shaft Market
- March 2018: Dana Inc. announced its signature of definitive agreements to combine with the driveline division of United Kingdom-based GKN Plc. to create Dana Plc., a global driveline systems company
- February 2018: In collaboration with its customers, German recycling equipment manufacturer Vecoplan has enhanced the VAZ 1600 XL and is launching a robust single-shaft shredder for technical plastics
Automotive Drive Shaft Market Major Players:
- American Axle Manufacturing Inc.
- Bailey Morris limited.
- GKN PLC.
- Hyundai Wia Corporation.
- Dana holding corporation.
- D & F Propshafts.
Reasons to Purchase Automotive Drive Shaft Market Report
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- Detailed analysis on the product type that is expected to dominate the market
- Detailed analysis on the regions that are expected to witness fastest growth during the forecast period
- Identifying the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet in excel
Customize Automotive Drive Shaft Market Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your need.
1.1 Research Methodology
1.2 General Study Assumptions
2. Research Methodology
2.2 Analysis Methodology
2.3 Study Assumptions
2.4 Econometric Forecast Model
3. Executive Summary
4. Market Overview and Technology Trends
4.1 Current Market Scenario
4.2 Technology Trends
4.3 Porter's Five Forces Analysis
4.3.1 Bargaining Power of the Suppliers
4.3.2 Bargaining Power of the Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products and Services
4.3.5 Competitive Rivalry within the Industry
5. Market Dynamics
5.1 Automotive Drive Shaft Market Drivers
5.1.1 Rise In Vehicle Production and Sales
5.2 Automotive Drive Shaft Market Restraints
5.2.1 Growing Electric Vehicles
5.3 Automotive Drive Shaft Market Opportunities
5.3.1 Light Weight Composite Driveshafts
6. Global Automotive Drive Shaft Market By Design Type
6.1 Hollow drive shafts
6.2 Solid drive shafts
7. Global Automotive Drive Shaft Market By Vehicle Type
7.1 Passenger Cars
7.2 Light Commercial Vehicles
7.3 Heavy Commercial Vehicles
8. Global Automotive Drive Shaft Market By Position
8.1 Front drive shaft
8.2 Rear drive shaft
9. Global Automotive Drive Shaft Market By Geography
9.1 North America Automotive Drive Shaft Market (2018-2023)
9.1.1 United States Automotive Drive Shaft Market (2018-2023)
9.1.2 Canada Automotive Drive Shaft Market (2018-2023)
9.1.3 Mexico Automotive Drive Shaft Market (2018-2023)
9.1.4 Rest of the North America
9.2 Europe Automotive Drive Shaft Market (2018-2023)
9.2.1 Spain Automotive Drive Shaft Market (2018-2023)
9.2.2 United Kingdom Automotive Drive Shaft Market (2018-2023)
9.2.3 Germany Automotive Drive Shaft Market (2018-2023)
9.2.4 Russia Automotive Drive Shaft Market (2018-2023)
9.2.5 France Automotive Drive Shaft Market (2018-2023)
9.2.6 Rest of the Europe
9.3 Asia-Pacific Automotive Drive Shaft Market (2018-2023)
9.3.1 China Automotive Drive Shaft Market (2018-2023)
9.3.2 India Automotive Drive Shaft Market (2018-2023)
9.3.3 Japan Automotive Drive Shaft Market (2018-2023)
9.3.4 Rest of the Asia-Pacific
9.4 South America Automotive Drive Shaft Market (2018-2023)
9.4.1 Brazil Automotive Drive Shaft Market (2018-2023)
9.4.2 Argentina Automotive Drive Shaft Market (2018-2023)
9.4.3 Rest of the South America
9.5 Middle East & Africa Automotive Drive Shaft Market (2018-2023)
9.5.1 Saudi Arabia Automotive Drive Shaft Market (2018-2023)
9.5.2 South Africa Automotive Drive Shaft Market (2018-2023)
9.5.3 Rest of the Middle East & Africa
10. Automotive Drive Shaft Market Competitive Landscape
10.2 Market Share Analysis
11. Automotive Drive Shaft Market Company Profiles
11.1 ACPT Inc.
11.2 American axle manufacturing Inc.
11.3 B & F limited
11.4 Bailey Morris limited
11.5 D & F Propshafts
11.6 Dana holding corporation
11.7 GKN PLC
11.8 Hyundai Wia Corporation
11.9 Neapco holdings LLC
11.10 Nexteer automotive
11.11 Wilson Drive Shafts
11.12 Yamada Manufacturing
12. Future of the Automotive Drive Shaft Market