Market Research Future (MRFR) in its new research study,
asserts that the Global Drive Shaft Market is booming and expected to grow
exponentially over the review period, recording a substantial market valuation
and a healthy 5.2% CAGR in the forecast period of 2017 to 2023. Growing vehicle
safety concerns and noise & vibration are the major growth drivers. There
has been a constant rise in smart and autonomous vehicle sales and demand for
anti-vibration parts, boosting market revenues.
The global drive shaft market is
garnering impressive traction. The market growth attributes to increasing
vehicle sales and the automotive industry worldwide. Besides, the rising
production of vehicles creates a substantial demand for drive shafts. Rising
adoption of shaft technologies required driving axle or rear axle increases
market sales. Moreover, rapid advances in shaft technologies and materials used
for shaft escalate market growth.
Also, the increase in sales of luxury vehicles and sports
cars pushes the market growth. Additionally, the demand for a smooth and
efficient ride opens up new opportunities for manufacturers and influences the
growth of the market. Conversely, the increasing demand for electric vehicles
worldwide is a major factor projected to impede market growth.
Global Drive Shaft Market – Competitive Analysis
Highly competitive, the drive shaft market appears
diversified with the presence of several well-established players. To gain a
larger competitive share of the market, innovation, mergers & acquisitions,
and brand reinforcement remain the key trends for these players.
Major Players:
Players leading the drive shaft market include
Advanced Composite Products & Technology (ACPT), Inc. (US), GKN PLC (UK),
American Axle & Manufacturing Holdings, Inc. (US), Dana Holding Corporation
(US), Neapco Holdings, LLC (US), Yamada Manufacturing Co., Ltd. (Japan), NTN
Corporation (Japan), The Timken Company (US), Trelleborg AB (Sweden), and Ifa
Rotorion - Holding GmbH (Germany), among others.
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Global Drive Shaft Market – Segmentation
By Vehicle Type: Passenger Cars (PV), Light
Commercial Vehicle (LCV), and Heavy Commercial Vehicle (HCV).
By Design : Hollow
Drive Shafts and Solid Drive Shafts.
By Position: Front Drive Shaft and Rear
Drive Shaft.
By Regions: Americas, Europe, APAC, and
the Rest-of-the-World.
Global Drive Shaft Market – Regional Analysis
The Asia Pacific region leads the global drive shaft market. With its raw material advantages, the region attracts foreign investors, increasing the numbers of production plants. Besides, the largest market share attributes to the increase in vehicle sales and advances in material technologies. Moreover, the continually rising economy and population in the region accelerate the region's automotive drive shaft market. China and India hold outstanding shares in the regional market.
North America is a considerably large market in the global
drive shaft market. Factors such as the significant GDP and high per capita
income foster the growth of the market, driving the automotive industry.
Moreover, favorable government policies, the presence of leading OEMs, and
developed automobile infrastructures in the region positively impact the market
sales.
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Major Highlights of TOC Covers:
- Executive Summary
- Key Business Trends
- Regional Trends and Growth
- Product Trends
- End-use Trends
- Definition and Forecast Parameters
- Drive shaft Market Segmentation
- Drive shaft Market Landscape
- Vendor Matrix
- Company Profiles
More…
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