Global Automotive Drive Shaft Market by Type, by Position, by Vehicle, by Region and Segment, Forecasts 2020–2026

Global Automotive Drive Shaft Market was valued at USD 6.04 Billion in 2018, and is set to grow at CAGR of 6.24% over the forecast period 2020–2026. Growth in automobile sector, growing concern for fuel efficiency, increasing need to develop lightweight drive shafts, without compromising on performance and rigidness are the factors augmenting the market.

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Market Trends, Drivers, Restraints and Opportunity:

The automotive drive shaft market is driven by growing concern for fuel efficiency followed by new entrants in the market. Moreover, surge in production and rise in sales of AWD vehicles is likely to be one of the major growth drivers to the market
Low weight cars have been dominant in the automotive industry throughout the globe owing to their advantages. Technological advantages have been playing a crucial role in the development of market trends for automotive drive shaft
Presence of viable alternatives and demand for advanced spare parts for automotive is driving the growth in automotive industry. Demand for better performance over conventional drive shafts is anticipated to be a key contributor to the market growth
Moreover, emphasis of automakers on emission regulations and superior performance is likely to create new opportunities in the years to come
However, lack of uniformity and standardization across the global automotive industry is likely to create restrictions in the market