Global Automotive Drive Shafts Market Expected to Reach XX Million by 2025
According to a new report published by Reports Monitor titled, “Automotive Drive Shafts Market by Type, Property & Applications: Global Opportunity Analysis and Industry Forecast, 2018–2025,” the Automotive Drive Shafts Market was valued at XX million in 2016 and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025. Asia Pacific is a leading region in automotive drive shaft market. The increase in disposal income and the launch of new compact car models by OEMs are the major elements driving the market’s growth in APAC.
Torque is generally the engine which delivers power through a rotary motion. The drive shaft is mainly the carrier of this torque. It must be strong enough to carry the torque to the place where the torque can be applied to some useful work which includes towing a trailer or accelerating fast enough to pass a truck.
The key elements contributing to the growth of the market includes increasing vehicle production, enhanced driving experience, increasing demand for low carbon footprint, and fuel-efficient vehicles. Moreover, desire for enhanced and comfortable driving is also responsible for the growth of market.
However, on the other hand a high deviation of material prices used in manufacturing of light weight drive shaft can restrain the growth of the market. Increasing consumers awareness towards light weight drive shafts to increase fuel efficiency would provide several growth opportunities for the market.
The global Automotive Drive Shafts Market report consists of various tools and techniques including, porters, value chain, market share analysis, and others. The data used in this report is gathered from extensive primary and secondary sources. These report gives the overall idea of market trends, opportunities, restraints, challenges, and others. The report includes major players along with their development strategies such as expansion, acquisition, merger, and others.
Based on the segmentation, the market is bifurcated into various segments such as by vehicle type, by shaft type, by position, and by region. According to the vehicle type segment, it is divided into heavy commercial vehicles, passenger’s cars, and light commercial vehicles. On the basis of shaft type, this segment is classified into Hotchkiss drive shaft, torque tube drive shaft, and flexible drive shaft. As per the position segment, it is divided into front drive shaft and rear drive shaft.
Key Question Answered: •What will be the market size in 2025 and at what rate it will grow? •Who are the major key players in global automotive drive shafts market and what are their strategies? •Which vertical industry is expected to show major growth? •What segment and region will lead the market and why?
The major companies profiled in the report 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., and Yamada Manufacturing Co. Ltd.
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