This report provides exclusive insights into the COVID-19 impact on the Cardan Shaft Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Cardan Shaft Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Cardan Shaft Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
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
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
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.