Drive Shaft Market Size, Share, Growth, opportunities & Forecast

Drive shafts transfer the required amount of power from the engine to the wheels of a vehicle and offer a dynamic connection between the wheels and the engine. It helps in providing better driving performance with least vibrations in the suspension system, thereby enhancing its Noise, Vibration, and Harshness (NVH) characteristics. It also helps in improving fuel efficiency and accommodates for the steering characteristics.

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The key players in the Drive Shaft Market include – GKN PLC, Nexteer Automotive Group Limited, NTN Corporation, American Axle & Manufacturing Holdings, Inc, Hyundai WIA Corporation, Neapco Holdings LLC, IFA Rotorion – Holding GmbH, Trelleborg AB, NKN, Ltd, Yamada Manufacturing Co., Ltd.

Automotive side shaft market size is projected to reach USD 7.24 billion by 2020, at a CAGR of 6.37% between 2015 and 2020. The largest vehicle producer, Asia-Oceania is expected to grow at a CAGR of 6.62% in terms of value, during the forecast period.

Product Development/Innovation: Detailed insights into upcoming technologies, R&D activities, and new product launches in the global automotive sideshaft market.

Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for automotive sideshaft across regions.

Market Diversification: Exhaustive information about new products, untapped markets, recent developments, and investments in the global automotive sideshaft market.

Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the global automotive sideshaft market.

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This report covers the Global Automotive Drive shaft Market, which has been broadly segmented by region into Asia-Oceania, Europe, North America, and RoW, focusing on key countries in each region. The market is further segmented by drive shaft type into rigid, and hollow; by vehicle type into passenger cars (PC), and light commercial vehicles (LCV); by position into front and rear.

Changing consumer needs, such as better vehicle performance requirements, improved fuel economy, enhanced driving experience, and growing stringency of carbon emission regulations and norms have led to tremendous changes and developments in drive shafts. While fuel efficiency is the major driver for the growth of automotive drive shafts, other factors, such as customer demand for comfort, driving habits, and initial cost are also affecting the market growth. On the other hand, to meet stringent carbon emission norms, automakers and suppliers are investing heavily in the research & development activities to improve vehicle performance, which is also helping the improvement of side shafts.

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This report classifies and defines the global automotive drive shaft market. It also provides qualitative insights about the automotive drive shaft market. It provides an analysis of the drivers, restraints, opportunities, challenges, and the key issues in the global automotive drive shaft market. Key players in the market have also been identified and profiled.

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