The Automotive Drive Shaft market report is a window to the industry which explains what market definition, classifications, applications, engagements and market trends are. The report makes available fluctuations in CAGR values during the forecast period of 2019-2026 for the market. All the statistical and numerical that has been forecasted in this report is represented with the help of graphs, charts, or tables which makes this report more user friendly. The Automotive Drive Shaft market study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities, challenges, risks, entry barriers, sales channels, distributors and Porter’s Five Forces Analysis.
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Leading Player of Automotive Drive Shaft Market are AAM – American Axle & Manufacturing, Dana Incorporated, Meritor, Nexteer Automotive, The Timken Company, HYUNDAI WIA Machine Tool, NEAPCO, Bailey Morris Ltd, MPP, Wanxiang Qianchao Co., Ltd., Xuchang Yuandong Drive Shaft Co., Ltd., D& F Propshafts, Yamada Industry Co.,Ltd., Melrose Industries PLC., Advanced Composite Products & Technology, Inc.
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.
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Drive shaft is also known as tailshaft, propeller shaft, cardan shaft or driving shaft. It takes the power from the engine and delivers it to the wheels. They are the device which is used to drive the car. To absorb the torque of the engine it need to be strong and should be lightweight so that it can reduce the overall weight of the vehicle. For the smooth driveline performance, it should be balanced properly and should spin equal to the torque. They are not used in wheel drive cars and are found in 4WD and AWD cars. The drive shafts have to be light weight in order to reduce the weight of the vehicle. Owing to the excessive demand for vehicles across the globe, the demand for automotive drive shafts has also risen.
In September 2017, Dana launched lightweight driveshaft for heavy- duty commercial vehicles- SPL 250 Lite driveshaft. This new product is 25 pounds lighter than other competitive drive shafts and its torque rating is 18,439 lb. The lower numeric axle ratios will support engine downspeeding and will improve fuel efficiency. In November 2016, Yukon Gear & Axle launched drive shaft for the jeep and off- road vehicle. This driver shaft is made from latest technologies for higher strength and longer life.
Automotive drive shaft or propeller shaft transfers the power produced by the engine from the transmission to the rear axle or front axle. 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, as well as for the cardan links. The prime reason for using extruded aluminum in drive shaft is the reduction of inertia, as well as vibration damping. The aforementioned types of drive shafts have been considered in the scope of the market.
The global Automotive Drive Shaft market is fragmented. To help clients improve their market position, this report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this Automotive Drive Shaft research report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make most of the expanding Automotive Drive Shaft market size.
Some of the key findings from our Automotive Drive Shaft market forecast report are summarized below
Global Automotive Drive Shaft Market By Type (Propeller Shaft, Haft Shaft), Industry (Passenger Vehicle, Commercial Vehicle), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
The report analyzes factors affecting Automotive Drive Shaft System market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities and future trend. The report also provides exhaustive PEST analysis for all five regions namely; Europe, APAC, North America, MEA and South & Central America after evaluating technological factors, political, economic and social affecting the Automotive Drive Shaft System market in these regions.
Global automotive drive shaft market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of automotive drive shaft market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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