Automotive
November 27, 2020

Drive Shaft Market to Gain Prominence in Automotive Sector with Rising Demand, Market Studies Growth Analysis, Development Strategy- Forecast 2023

Market Research Future (MRFR) in its new research study, asserts that the Global Drive Shaft Market is booming and expected to grow exponentially over the review period, recording a substantial market valuation and a healthy 5.2% CAGR in the forecast period of 2017 to 2023. Growing vehicle safety concerns and noise & vibration are the major growth drivers. There has been a constant rise in smart and autonomous vehicle sales and demand for anti-vibration parts, boosting market revenues.

The global drive shaft market is garnering impressive traction. The market growth attributes to increasing vehicle sales and the automotive industry worldwide. Besides, the rising production of vehicles creates a substantial demand for drive shafts. Rising adoption of shaft technologies required driving axle or rear axle increases market sales. Moreover, rapid advances in shaft technologies and materials used for shaft escalate market growth.

Global Drive Shaft Market – Competitive Analysis 

Highly competitive, the drive shaft market appears diversified with the presence of several well-established players. To gain a larger competitive share of the market, innovation, mergers & acquisitions, and brand reinforcement remain the key trends for these players.

Major Players: 

Players leading thedrive shaft market include Advanced Composite Products & Technology (ACPT), Inc. (US), GKN PLC (UK), American Axle & Manufacturing Holdings, Inc. (US), Dana Holding Corporation (US), Neapco Holdings, LLC (US), Yamada Manufacturing Co., Ltd. (Japan), NTN Corporation (Japan), The Timken Company (US), Trelleborg AB (Sweden), and Ifa Rotorion - Holding GmbH (Germany), among others.

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Global Drive Shaft Market – Segmentation

By Vehicle Type: Passenger Cars (PV), Light Commercial Vehicle (LCV), and Heavy Commercial Vehicle (HCV).

By Design : Hollow Drive Shafts and Solid Drive Shafts.

By Position: Front Drive Shaft and Rear Drive Shaft.

By Regions:  Americas, Europe, APAC, and the Rest-of-the-World.

Global Drive Shaft Market – Regional Analysis 

North America is a considerably large market in the global drive shaft market. Factors such as the significant GDP and high per capita income foster the growth of the market, driving the automotive industry. Moreover, favorable government policies, the presence of leading OEMs, and developed automobile infrastructures in the region positively impact the market sales.

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Major Highlights of TOC Covers:

1.      Executive Summary

2.      Key Business Trends

3.      Regional Trends and Growth

4.      Product Trends

5.      End-use Trends

6.      Definition and Forecast Parameters

7.      Drive shaft Market Segmentation

8.      Drive shaft Market Landscape

More…

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