A recent report published by Infinium Global Research on the cardan shaft market provides an in-depth analysis of segments and sub-segments in the global as well as regional cardan shaft market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional cardan shaft market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global cardan shaft market. According to the report, the global cardan shaft market is projected to grow at a CAGR of 1.6% over the forecast period of 2019-2025.
Cardan shaft is a mechanical component used as a transmission element in the automotive, manufacturing and machinery and equipment industries. Apart from that, cardan shafts are also used in marine application between the transmission and either a propeller gearbox. Cardan shafts commonly integrate one or more universal joints, rag joints or jaw couplings, and sometimes a splined joint or prismatic joint. Aluminum, steel, and carbon fiber reinforced plastic (CFRP) are raw materials used for manufacturing of cardan shafts. Cardan shaft are categorized into different sizes including small, medium, heavy and extra heavy.
Cardan shaft is a major component in the automotive industry. Growing automotive sales across the globe drive the growth of the cardan shaft market. As per the European Automobile Manufacturers Association, it is estimated that 98.9 million motor vehicles were produced globally in 2017. Besides that, the cardan shaft is widely used in construction, agricultural machinery. Apart from this, recent investment by established automakers is another factor escalating the growth of the cardan shaft market. However, fluctuation in raw material prices could hamper the growth of the cardan shaft market. Furthermore, growing needs for more compact, more efficient drive components have been mounting to reduce fuel consumption in addressing environmental conservation. Thus, cardan shafts need to be light in weight hence the demand for lightweight cardan shafts has augmented, that in turn, creating growth opportunities for the cardan shaft market. Moreover, stringent norms posed by the international emission control authorities have encouraged the manufacturers to make lightweight drive shafts by using aluminum in the place of steel.
Geographically, Asia Pacific held the maximum share in the cardan shaft market. The growth in the Asia Pacific region is due to the emergence of rapidly growing economies such as China, South Korea, India, Japan, Thailand, and Indonesia. Environment Protection Authority policies and stringent Corporate Average Fuel Economy regulations forced the automotive manufacturers to reduce the weight of the vehicles to reduce fuel consumption and emission. Moreover, the increasing investment in the automobile industry, especially in countries such as China is escalating the growth of the cardan shaft market in Asia Pacific region.
The report on global cardan shaft market covers segments such as product type and end-user industry. On the basis of product type, the sub-markets include small, medium, and heavy duty. On the basis of end-user industry, the sub-markets include automotive, machinery & equipment, manufacturing, and others.
The report provides profiles of the companies in the market such as Altra Industrial Motion Corp., Gelenkwellenwerk Stadtilm GmbH, Xuchang Yuandong Drive Shaft Co., Ltd., GSP Group, Showa Corporation, Wanxiang Qianchao Group, JTEKT Corporation, Neapco Inc, Meritor, Inc., Dana Incorporated, and GKN Plc.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of cardan shaft market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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