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;
Market Analysis: Global Automotive Drive Shaft Market
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.
Market Definition: Global Automotive Drive Shaft Market
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.
- When is enclosed in a tube they requires less maintenance as compared to chain systems.
- The drive system is less likely to get jammed.
- Replacing drive shaft can be very expensive which is restraining the market.
- They are heavier in weight.
Segmentation: Global Automotive Drive Shaft Market
- By Type
- Propeller Shaft
- Haft Shaft
- By Industry
- Passenger Vehicle
- Commercial Vehicle
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
Key Developments in the Market:
- 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.
Competitive Analysis: Global Automotive Drive Shaft Market
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.
Key Market Competitors: Global Automotive Drive Shaft Market
Few of the major competitors currently working in the automotive drive shaft market are Melrose Industries PLC., Advanced Composite Products & Technology, Inc., American Axle & Manufacturing, Inc., Bailey Morris Limited, D& F Propshafts, Dana Limited, Hyundai Wia, Meritor, Inc., Neapco Inc, Nexteer Automotive, Metal Powder Products Company, The Timken Company, Wanxiang Qianchao Co., Ltd., Xuchang Yuandong Drive Shaft Co., Ltd., Yamada Manufacturing Co., Ltd.
Research Methodology: Global Automotive Drive Shaft Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved