Long-term sustenance through digitized mobility to drive the Automotive Transmission Shaft Market

Automotive Transmission Shaft Market: Introduction

Automotive transmission is an assembly of shafts and gears which are responsible for effective transmission of the generated power from engine to the wheels. Automotive Transmission shaft is a mechanical linkage between drive train to the output system and wheels.

Majority of the market participants are utilizing cold extrusion process for manufacturing automotive transmission shaft owing to requirement of near net shape of the product. For the fulfilling design requirement of the automotive transmission shaft, manufacturer are utilizing the stainless steel or steel for manufacturing.

In the recent years, passenger car adopting front wheel drive system which affects the consumption of front transmission system positively. Automotive Industry dynamics are directly impacting the sales of the automotive transmission shaft as it is vital part of the drive train for every vehicle. High automotive production volume in East Asia and South Asia are expected to hold dominating share in the global automotive transmission shaft market.

Automotive Transmission Shaft Market: Market Dynamics

From the last two years, Global automotive production has witnessed negative march, however recovery in the manufacturing scenario is expected in the upcoming years. Positive momentum of automotive production are directly influencing the consumption of the propeller shaft.

Additionally, the global automotive fleet is estimated to create opportunity for automotive transmission shaft in the aftermarket due to requirement of efficient drive train operations. The positive outlook of the Automotive Industry is expected to bolster the demand for automotive transmission shaft.

Now a days, End Users are more inclining towards the AWD (All Wheel Drive) vehicles due to its comfortable driving experience with less errors in vehicle handling. These types of AWD vehicles require two transmission shafts to power the front as well as rear wheels. Increasing demand for AWD vehicles are estimated to increase the installation of the automotive transmission shaft.

Increasing concern towards vehicle emission, automakers are focused to develop low weight along with high strength automotive parts and components. Automotive transmission shaft manufacturers has opportunity to develop automotive transmission shaft with composite materials for attaining the emission norms along with optimum fuel efficiency of the vehicle.

Electrical vehicles are gaining momentum in the global automotive market with high adoption rate owing to efficient driving solution with utilization of the green energy. Electric Vehicles are having very less number of gears and shafts which minimizes the requirement of the transmission shaft. The growing demand for Electric Vehicles are estimated to hamper the growth of the automotive transmission shaft market.

Automotive Transmission Shaft Market: Segmentation

Automotive Transmission Shaft Market: Regional Outlook

East Asia followed by South Asia are estimated to hold dominating share in automotive transmission shaft market owing to automotive production scenario in the said region. On the other hand, Europe and North America have large automotive fleet which create the requirement in the aftermarket for automotive transmission shaft in the upcoming decade.

Some Northern African and Middle East countries such as Morocco, Algeria are witnessing increased automotive production which is expected to create lucrative opportunity for automotive transmission shaft. In terms of market growth, South Asia is estimated to witness leading growth rate followed by East Asia. Latin America and Oceania are estimated to witness slow growth in automotive transmission shaft market.

Automotive Transmission Shaft Market: Key Participants

Some of the key participants identified in the global Automotive Transmission Shaft market are:

• Farinia Group
• GKN Plc
• Dana Corporation
• JTEKT Corporation
• DieQua Corporation
• Korea Flange Co. Ltd. (KOFCO)
• American Axle & Manufacturing, Inc.
• Meritor Inc.
• Elbe & Sohn Inc.
• Nexteer Automotive
• Gelenkwellen-Service GmbH
• NTN Corporation
• Hyundai Wia Corporation
• Showa Corporation
• ZF Friedrichshafen AG

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