The competitive scenario of the automotive drive shaft market is supported by an assessment of the different factors that influence the market on a minute and granular level. Automotive Drive Shaft Market Analysis - Global market share, growth, trends, forecast, Global Automotive Drive Shaft Market Outlook (2019-2027) What are the essential strategies by key stakeholders in the automotive drive shaft market to expand their geographic presence? Global Automotive Drive Shaft Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027 at a CAGR of about 7.32 % during a forecast. Automakers, such as General Motor Company, BMW AG, and Audi AG are among the leading players developing electric vehicles (EVs). This report enables readers to make important decisions with regard to their business, with the help of a wealth of information enclosed in the study. Comprehensive investigation of each regional contributor, including their estimated growth rate. Although the demand for aluminum automotive drive shafts is on the rise and projected to witness steady year-on-year growth, carbon fiber is likely to come out as a winner in terms of the most adopted material to produce drive shafts. EVs can power vehicles without depending on traditional transmissions, drive shafts, power dividers, and differentials, as electric motors in EVs replace the traditional diesel powertrains in some applications. This TMR report on the automotive drive shaft market is based on a complete and comprehensive evaluation of the market, backed by secondary and primary sources. Growing concern for fuel efficiency and stringent norms posed by the international emission control authorities have urged the manufacturers to develop lightweight drive shafts, without compromising on their performance and rigidness. Copyright © Transparency Market Research. This study also offers Porter’s Five Point Analysis, value chain analysis, regulatory scenario, and a SWOT analysis of the automotive drive shaft market, in order to elaborate the crucial growth tactics and opportunities for market players contributing to the market. The report highlights the key tendencies and growth opportunities in the market. 2 . Increase in purchase power parity and finance schemes are anticipated to drive the demand for such vehicles. Single piece drive shaft is a conventional drive shaft and is highly popular among entry and mid-range vehicles, which can be attributed to the high market share held by the segment in … The automotive drive shaft is also called propeller shaft or prop shaft. Stuck in a neck-to-neck competition with other brands? The global automotive drive shafts market is valued at USD 6.1billion in 2016 and is expected to reach USD 12.3 billion by the end of 2026, growing at a CAGR of 7.3% between 2016 and 2026. On the basis of vehicle type, the market has been segmented into passenger cars, light commercial vehicle (LCV), and heavy commercial vehicle (HCV). It makes the overall weight of the vehicle very heavy, requiring more fuel to run. GLOBAL AUTOMOTIVE DRIVE SHAFT MANUFACTURERS ANALYSIS 9.1. The aforementioned types of drive shafts have been considered in the scope of the market. Download Free Sample Now China is one of the most essential nations in the automotive industry and is directly or indirectly linked to ~80% of the supply chain. Automotive Drive Shaft Market is expected to garner a stable valuation from 2016 to 2025.Aluminum drive shafts are also more equitable and produces more revolving speed. The report also provides an understanding of strengths, weaknesses, threats, and opportunities, along with the trends and restraints in the landscape. In addition, as steel is also relatively cost-effective than other alternative materials, even in the automotive drive shaft market landscape, it continues to remain one of the most extensively used materials to produce automotive drive shafts. All Rights Reserved to Mordor Intelligence. The application of extruded aluminum in drive shafts has been the most notable for rear-wheel or all-wheel drive vehicles, both for the tubes and the Cardan links. NTN Corporation Automotive Drive Shaft Production, Revenue and Gross Margin 9.2. Regional and country wise analysis. Moreover, a surge in focus toward the development of high performance vehicles and automotive components is likely to drive the multi-piece drive shaft segment of the market during the forecast period. A number of trustworthy resources including journals, mergers, and annual reports of the firms have been referred for assembling the information … The Automotive Drive Shaft market report is a … Moreover, carbon fiber is also high in durability and effective in vibration control. At present, the evolving regulatory landscape, which predominantly focuses on introducing environment-friendly automotive technologies, has played a vital role in the development of the global automotive drive shaft market. MARKET OPPORTUNITIES AND FUTURE TRENDS, Nanakramguda Rd, Financial District, Gachibowli. Also, Automotive Drive Shaft Market is predicted to grow at a CAGR of Growing rate during the forecast period. Four wheel drive vehicles are equipped with multiple drive shafts, which can be attributed to the significant market share held by the segment. At present, the high cost of carbon fiber automotive drive shafts is a leading factor that is likely to hinder the demand, particularly in developing regions. The evolution in the automotive sector also been influenced by significant developments and advancements made in production and design aspects of different automotive components. Analysts’ conclusions on how the automotive drive shaft market is estimated to expand are based on carefully vetted primary and secondary sources. In addition, the production of automotive vehicles has taken a major hit across the world due to lack of raw materials and large holes in the supply chain caused by the COVID-19 event. Steel drive shafts are very bulky and requires a lot of horsepower to transmit torque and rotate. To understand how our report can bring difference to your business strategy, Ask for a brochure. However, the advent of metallurgical technology has given many alternative options to the automakers to manufacture a propeller shaft. Furthermore, with the emission regulations becoming tougher for every generation, the automakers are on the run to drop any extra weight off the vehicle. However, the solid drive shafts offer superior performance over the hollow drive shafts in long-wheelbase vehicles, as the hollow shafts have lower resistance for buckling when compared to solid shafts. Volvo, Tesla, and Nikola are also expected to introduce class-8 electric trucks by 2020. Rivian, Workhorse, Bollinger, Tesla, and Atlis are also planning to introduce electric pickup trucks by 2020 or 2021. New and exotic materials, such as carbon fiber, aluminum, and Chromoly, offer better performance characteristics over the conventional steel drive shafts. Over the next five years the Automotive Drive Shaft market will register a 4.3% CAGR in terms of revenue, the global market size will reach US$ 10750 million by 2025. This, in turn, is anticipated to reduce the use of drive shafts in vehicles by automakers. NTN CORPORATION 9.1.1. Business Overview 9.1.2. Request a custom report on Automotive Drive Shaft Market ? Automotive Drive Shaft Market is expected to garner a stable valuation from 2016 to 2025.Aluminum drive shafts are also more equitable and produces more revolving speed. Automotive drive shaft or propeller shaft transfers the power produced by the engine from the transmission to the rear axle or front axle. During the forecast period, regions, like Asia-Pacific, Europe, and North America, continue to see stronger demand for electric vehicles, owing to the plans by the automakers of launching more electric vehicle models in the coming years. 9.2.1. Business … Advanced Composite Products & Technology Inc. How much value will the automotive drive shaft market generate by the end of the forecast period? Automakers have registered increased penetration of, AWD and 4WD vehicles use two drive shafts, instead of one, to transmit power to both rear and front wheels in vehicles. Carbon fiber has emerged as one of the ideal weight-saving materials that is increasingly being used to develop automotive drive shafts. By thoroughly analyzing the historical data, current trends and announcement by the key players, researchers of the automotive drive shaft market arrive at predictions and estimations, and calculate the forecast for the market. This study also discusses the underlying trends and impact of various factors that are driving the automotive drive shaft market, along with their influence on the evolution of the market. The usage of two-piece hollow drive shafts for the long-wheelbase vehicle purpose compensates for the performance drawback, thereby, making them a viable option for the automakers. Despite treading through a sluggish period in 2020, the global automotive drive shaft market is expected to witness steady growth in the post-COVID-19 era. This detailed assessment of the automotive drive shaft market, along with an overview of the landscape, is provided based on a careful examination of the avenues related to this industry. This TMR study on the automotive drive shaft market also provides data on the developments made by important players and stakeholders in the market, along with a competitive analysis. In addition, as regulatory guidelines insist on the development of energy-efficient vehicles, automotive companies are increasingly relying on carbon fiber automotive drive shafts to attain these objectives. The Automotive Drive Shaft Market Perspective, Comprehensive Analysis along with Major Segments and Forecast, 2020-2025. However, as the cost of carbon fiber is likely to reduce as the technology matures, carbon fiber is projected to gain considerable popularity during the forecast period. This report uses an analytical triangulation method to estimate the numbers and figures of the automotive drive shaft market, with both a bottom-up and top-down approach. TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough. The automotive industry has evolved at a rapid pace over the past four to five decades, owing to advancements in technology, developments in the regulatory landscape, and fluctuating consumer demands. Automotive Drive Shaft Market Share (%) of Top 5 Manufacturers CHAPTER 9. What regions currently contribute the maximum share to the overall automotive drive shaft market? Key manufacturers are assessed on this record in … Details pertaining to revenue & sales amassed by each region. © 2020. The lockdown in Hubei, which nests more than 100 automotive suppliers and other automotive hubs in the country, is another factor that is expected to play a key role in creating bottlenecks across the supply chain in the global automotive drive shaft market. Request the coronavirus impact analysis across industries and markets. Home/Business/ Automotive Drive Shaft Market Expected to Witness High Growth over the Forecast Period 2020 – 2027. Business Automotive Drive Shaft Market Expected to Witness High Growth over the Forecast Period 2020 – 2027. tmr February 5, 2021. The significant rise in the sales of utility vehicles around the world is another major factor that is likely to influence the overall growth of the automotive drive shaft market in the upcoming years. The report titled Global Automotive Drive Shaft Market Report 2020, Forecast to 2025 divided by product type, applications, industry verticals, and research regions provides an in-depth explanation of the perspectives and comprehensive market statistics. Developing countries such as India, China, Brazil, and Mexico have also planned to enact emission stage equivalent to Euro 6 in the near future. Steel drive shafts are very bulky and requires a lot of horsepower to transmit torque and rotate. GKN PLC. This study on the automotive drive shaft market analyzes the scenario for the period of 2019 to 2027, wherein, 2018 is the base year and 2017 and before is historical data. The global Automotive Drive Shaft market study evaluates a detailed inspection of the Automotive Drive Shaft market, where each segment is attributed based on its Automotive Drive Shaft market size, upcoming growth rate and key statistics. To understand key trends, Download Sample Report. Electric vehicles are independent of traditional internal combustion engines to power vehicles. Prior to the COVID-19 pandemic, the automotive sector around the world was witnessing a steady growth, particularly from the Asia Pacific region. The growing popularity of aluminum automotive drive shafts can be largely attributed to the low weight of the material due to which, automotive manufacturers can optimize the efficiency and performance of their vehicles. The use of the aforementioned materials is expected to reduce the overall weight of the vehicle, thereby, reducing emissions from the vehicles. In the first quarter of 2020, as the core industries in China, including the automotive sector were compelled to shut down, the car sales witnessed a staggering decline. About one-third of the vehicles sold over the past two years (2017-2018) have been AWD vehicles. The global automotive drive shaft market is expected to grow at a moderate CAGR of ~2% during the forecast period. To understand geography trends, Download Sample Report. Steel is tipped to remain the top choice to produce stock drive trains, as minimum maintenance is required. Report scope can be customized per your requirements. The prime reason for using extruded aluminum in drive shaft is the reduction of inertia, as well as vibration damping. The hollow drive shafts of mass equal to that of a solid drive shaft performed without coming across a failure. As governments across the world are compelled to enforce lockdowns and an array of restrictions on trade and transportation, its effects are being felt across the global automotive drive shaft market. The Automotive Drive Shaft market will register an incremental spend of about $2 billion, growing at a CAGR of 6.96% during the five-year forecast period. The global market segmented by design, position, vehicle and geography. Moreover, aluminum shafts are utilized in sports or performance cars to enhance their performance. The automotive drive shaft market has been segmented by design type, position type, vehicle type, and geography. Hollow drive shafts are anticipated to capture the overall market, due to their flexibility and improvised performance over the conventional and heavy solid type. Although steel is likely to remain the most popular material type, aluminum and carbon fiber are gaining immense popularity. Automotive drive shafts are components (motorized) used for transporting torque to the one end of the vehicle from the engine prior to it reaches the wheels. This report presents a comprehensive overview, market shares, and growth opportunities of Automotive Drive Shaft market by product type, application, key manufacturers and key regions and countries. Several lightweight materials such as aluminum and carbon fiber are increasingly being used to manufacture automotive drive shafts and the trend is likely to continue during the forecast period. Automotive Drive Shaft Market – Segmentation. However, recent calls to enhance the performance and energy efficiency of automotive vehicles has compelled companies in the automotive drive shaft market to explore the possibilities of using other materials such as aluminum and carbon fiber to design and manufacture automotive drive shafts. Market volume is determined by country wise model mapping of vehicle through internal & external proprietary databases, and relevant patent and regulatory databases. Presented in a clear sanctioned manner, this report on the automotive drive shaft market gives readers an individual understanding of the market. The Automotive Drive Shaft Market is Segmented by Design Type (Hollow Shaft and Solid Shaft), Position Type (Rear Axle and Front Axle), Vehicle Type (Passenger Car and Commercial Vehicle), and Geography. Global Automotive Drive Shaft Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2026 is extremely much required in some ways for business growth and to thrive within the market. What are the indicators expected to drive the automotive drive shaft market? Global Automotive Drive Shaft Market is valued approximately at USD 6.40 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 6.37% over the forecast period 2019-2026. The Automotive Drive Shaft Market is Segmented by Design Type (Hollow Shaft and Solid Shaft), Position Type (Rear Axle and Front Axle), Vehicle Type (Passenger Car and Commercial Vehicle), and Geography. In recent years, the market share of aluminum automotive drive shafts has increased at a higher rate than that of steel drive shafts, and the trend is anticipated to continue in the upcoming decade. Composite drive shafts, which are the new entrants in the global market, boast incredibly high torque and safety standards. The Global Automotive Drive Shafts Market report provides a holistic evaluation of the Market for the forecast period (2019–2026). Adoption of such reforms by developing countries, which are also witnessing high vehicle production, is anticipated to drive the demand for emission control devices globally. A majority of the passenger cars use the hollow shaft as a drive shaft, due to the advantages offered by these shafts when compared to solid drive shafts. At the back of these factors coupled with improvements in design and advancements in material science, the global automotive drive shaft market is expected to reach a market value of ~US$ 21 Bn by the end of 2027. 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Company Basic Information 9.1.3. Automotive Drive Shafts Market segments covered in the report: Regional bifurcation: North America, Europe, Asia-Pacific, South America, Middle East and Africa. Which segment of the market is likely to have the maximum market share by 2027? The growing sales and production of vehicles are estimated to boost market demand in the coming years. Additionally, the penetration of multi-piece drive shaft is expanding due to an increase in the demand for SUVs and four-wheel drive vehicles. Passenger vehicles dominated global vehicle sales in, Electric vehicles are gaining prominence in the automotive industry, and rise in demand for electric vehicles is boosting the drive shaft market; however, the development of hub motor may hinder the automotive drive shaft market, Availability of major component manufacturers and presence of major automotive manufacturers in the region are key factors attributed to the notable share held by Asia Pacific of the global automotive drive shaft market, Consistent demand for passenger as well as commercial vehicles globally is a prominent factor propelling the global automotive drive shaft market, Key players operating in the global automotive drive shaft market include. Key Issues Addressed by Automotive Drive Shaft Market: It is very significant to have segmentation analysis to figure out the essential factors of growth and development of the market in a particular sector. The onset of the novel COVID-19 pandemic has played a huge role in hampering the growth of the global automotive sector in 2020. Jan 21, 2021 (The Expresswire) -- "Final Report will add the analysis of the impact of COVID-19 on this industry." To be aware of the market in detail, the market research report is the perfect solution. The major factors contributing to the growth of the market include growing vehicle production, enhanced driving experience, growing demand for low carbon footprint and fuel-efficient vehicles. The quest for weight reduction in the automotive industry has been a major driver for the automotive hollow drive shaft industry, which allows the automakers to shed a major portion of the overall weight of the vehicle. At the global level, the sales of electric vehicles have been growing positively over the past three years (2016-2018). Special pricing for start-ups and universities. On the basis of design, the market has been segmented into hollow drive shafts and solid drive shafts. The intensity of competition in the market is high, as major players continue to expand and maintain their customer relationship for longer periods. Automotive Drive Shafts Market Size And Forecast: Global Automotive Drive Shafts Market was valued at USD 6.2 Billion in 2018 and is projected to grow at a CAGR of 6.06% to reach USD 9.9 Billion by 2026, over the forecast period.. The hollow drive shafts showed a superior torsional resistance, which made them an obvious choice over the solid drive shafts. It makes the overall weight of the vehicle very heavy, requiring more fuel to run. Global “Automotive Drive Shaft Market”Report 2021 studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors, and Porter's Five Forces Analysis. Additionally, Navistar and Daimler delivered prototype trucks to a few transport companies in the United States, and they are expected to start mass production by 2021. Global Automotive Drive Shaft Market Overview The key driver impacting the automotive drive shaft market is the rapidly growing automotive sector across the globe. Their design is robust enough to sustain varying torques received from the engine, and they are classified into two types based on the position of transmission, i.e., front and rear end. Due to increasing emphasis on energy efficiency and environment protection over the past decade, automotive manufacturers are exploring the possibilities of using automotive drive shafts made from alternative materials than steel to attain these objectives. For instance: Ford is planning to launch an electric variant of its best-selling F-150 pickup truck. Global Automotive Drive Shaft Market is projected to reach USD 8 Billion by 2025, growing at a CAGR of over 5% during 2021-2025. The market growth can be primarily attributed to the growing automotive sector, particularly in developing regions, advancements in new production technologies, and research & development due to which the adoption of new lightweight materials to develop automotive drive shafts is on the rise. This report on the automotive drive shaft market provides information on the basis of drive shaft type, drive type, drive system, material, vehicle, and region. Automotive Drive Shafts Market Research Report by Shaft Type (Flexible Drive Shaft Type, Hotchkiss Drive Shaft Type, and Torque Tube Drive Shaft Type), by Vehicle (Heavy Commercial Vehicles, Light Commercial Vehicles, and Passenger Cars) - Global Forecast to 2025 - Cumulative Impact of COVID-19New York, Dec. 10, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the … Click here. Multi-piece drive shafts are continuously gaining popularity due to the rising popularity of pick-up trucks, which witness high penetration of multi-piece drive shafts, thus propelling the multi-piece drive shaft segment. The global drive shaft market is segmented based on vehicle type, design, position, and region. The global automotive drive shaft market is segmented on the basis of type, application, and geography. How regulatory norms affected the market for automotive drive shaft market. The automotive drive shaft market is expected to register a CAGR of over 6.5% during the forecast period (2020-2025). Global Automotive Drive Shaft Market is expected to rise from its initial estimated value of USD 5.84 billion in 2018 to an estimated value of USD 10.20 billion by 2026, registering a CAGR of 7.23% in the forecast period of 2019-2026. Increase in the heavy commercial vehicle is the major factor for the growth of this market. Some of the major players, like GKN PLC (Melrose Industries PLC), JTEKT Corporation, Dana Incorporated, Hyundai Wia Corporation, and Nexteer Automotive Group Ltd, have captured significant shares in the market. 4.3 Industry Attractiveness - Porter's Five Forces Analysis, 4.3.2 Bargaining Power of Buyers/Consumers, 7. This report answers these questions and more about the automotive drive shaft market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business. Transparency Market Research’s recent report on the automotive drive shaft market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. The growing production and sales of all-wheel drive (AWD) vehicles have been one of the major drivers for the market growth, as the vehicles are equipped with two drive shafts. What region is likely to be a lucrative market during the forecast period? Report such as Global Automotive Drive Shaft Market 2021, helps to know that how the market is going to perform in the forecast years by providing information about market definition, classifications, applications, and engagements.Market segmentation is also covered in depth by considering multiple … Carbon fiber is a highly advanced material used to manufacture drive shafts; however, the demand for carbon fiber drive shafts is increasing significantly due to their considerably higher strength and lightweight, Passenger vehicles are majorly utilized for transportation, while commercial vehicles are utilized in different industrial verticals, including healthcare, mining, logistics, and construction.
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