A recent report published by
Infinium Global Research on automotive drive shafts market provides in-depth
analysis of segments and sub-segments in global as well as regional automotive
drive shafts market. The study also highlights the impact of drivers, restraints
and macro indicators on the global and regional automotive drive shafts market
over the short term as well as long term. The report is a comprehensive
presentation of trends, forecast and dollar values of global automotive drive
shafts market. According to report, the global automotive drive shafts market is
projected to grow at a CAGR of 6.5% over the forecast period of 2018-2024.
An Automotive drive shaft, also called a propeller shaft or prop shaft is a component of the drive train in a vehicle, that is used with the purpose of delivering torque from the transmission to the differential, which then transmits this torque to the wheels in order to move the vehicle. The drive shaft is primarily used to transfer torque between components that are separated by a distance since different components must be in different locations in the vehicle. These drives hafts are made up of aluminum, steel, and carbon fiber. Short drive shafts are commonly used to send power from a central differential, transmission, or transaxle to the wheels. The main advantage of drive shaft is that it is less likely to become jammed. Drive shafts are used differently in different vehicles, varying greatly in cars with distinct configurations for front-wheel drive, four-wheel drive, and the previously mentioned front-engine rear-wheel drive. Other vehicles also use drive shafts, like motorcycles, locomotives, and marine vessels.
In addition, the growing
concern for fuel efficiency and the stringent norms posed by the international
emission control authorities have motivated the manufacturers to develop lightweight
drive shafts without negotiating on their performance and rigidness. Moreover,
the drive shafts need to be light in weight hence the demand for automotive
drive shafts has increased, that in turn, is fuelling the growth of the
automotive drive shafts market. Moreover, fluctuation in the prices of raw
materials are the factors restraining the growth of the automotive drive shafts
market during the forecast period. Furthermore, an increase in demand for
passenger vehicles is anticipated to create growth opportunities in the
upcoming years.
Among the
geographies, Asia Pacific dominated the automotive drive shafts market. The
growth in the Asia Pacific region is due to the emerging economies of India,
China and Japan. EPA (Environment Protection Authority) policies and stringent CAFÉ
(Corporate Average Fuel Economy) regulations forced the automotive
manufacturers to reduce the weight of the vehicles to reduce emissions and fuel
consumptions. Moreover, the increasing investment in the automobile industry, especially in countries such as China, is anticipated to boost the growth in
the automotive drive shafts market. The global production of passenger cars
alone has increased from 40.1 million in 2001 to 73.45 million in 2017, and
that of overall vehicles was around 97.30 million in 2017.
The report on global automotive
drive shafts market covers segments such as shaft type and vehicle type. On
the basis of shaft type the global automotive drive shafts market is
categorized into hotch kiss drive shaft type, flexible drive shaft type, and
torque tube drive shaft type. On the basis of vehicle type the global
automotive drive shafts market is categorized into passenger cars, light commercial
vehicles, and heavy commercial vehicles.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region.
The U.S. drives the growth in the North America region as it
is the largest market in the region. The Asia-pacific region offers a
substantial potential for the market growth owing to rapid growth in markets
such as India and China. The APAC region is projected to experience a growth at
a CAGR of x.x% over the period of 2016-2024.
The report provides profiles of
the companies in the global automotive drive shafts market such as GKN PLC,
American Axle Manufacturing Inc., Dana Incorporated, Nexteer Automotive,
Xuchang Yuangdong Driveshaft Co., Ltd., Neapco Holdings and Others.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global automotive drive shafts market. Moreover, 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 automotive drive shafts market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the automotive drive shafts market that will impact 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. This report will help manufacturers, suppliers, and distributors of the automotive drive shafts market to understand the present and future trends in this market and formulate their strategies accordingly.