How is the Automotive Drive Shaft Market expected to grow over the projected period?

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Also, low running costs, smoothness, absence of oil spill, reliability and clean operation are among other advantages of automotive drive shafts. Automotive drive shaft configuration varies in cars with distinct front wheel drive, four-wheel drive as well as front engine rear wheel drive. Other vehicles such as motorcycles, marine vessels and locomotive also use drive shafts.

Automotive drive shafts are most preferably made out of aluminum and also steel and carbon fiber. As aluminum drive shafts are comparatively sturdy, they results in overall weight reduction of the vehicles. On the other hand, steel drive shafts are very heavy, adds to the vehicle weight as well as lower the fuel economy because of high horsepower requirement to transmit the torque.

Owing to the mentioned reasons, the demand for automotive drive shafts is estimated to see significant growth thus adding to the global automotive drive shaft market during the forecast period.

Automotive Drive Shaft Market: Dynamics

The best advantage of having an automotive driveshaft is that when enclosed in a tube these driveshaft requires negligible maintenance and hence offer a prolonged healthy operation. Automotive drive shafts while reducing the weight also offer comfortable, clean and quiet ride which is significant in the ongoing consumer requirement as well as governmental norms. These factors are anticipated to collectively contribute in the automotive drive shaft market growth.

Automotive drive shafts cost a hefty amount to replace when get damaged. Automotive drive shaft is an old technology, newer systems are comparatively agile i.e. more efficient in terms of quick shifts and cheaper in terms of costs. This factors altogether are foreseen to inhibit the automotive drive shaft market growth in the coming years.

Manufacturers operating in the global automotive drive shaft market are focused on developing lightweight drive shafts while maintaining the performance and rigidness of the drive shafts. For the manufacturing of composite drive shafts, the filament winding production process is gaining popularity among manufacturers.

Automotive Drive Shaft Market: Segmentation

Automotive Drive Shaft Market: Regional Outlook

The automotive production scenario in Asia Pacific provides a positive outlook for automotive drive shaft market in the coming years. In countries such as India, China, Indonesia and Thailand growing vehicles production to cater the demand is driving the automotive drive shaft market.

With environment protection authority policies as well as corporate average fuel economy regulations, manufacturers have been forced to reduce the weight and hence improve fuel efficiency of vehicles. Moreover, steadily increasing investments in automobile industry in North America and Europe, amidst the slowdown in automotive production is anticipated to positively impact the automotive drive shaft market growth.

Automotive Drive Shaft Market: Key Participant

Some of the market participants in the global automotive drive shaft market, identified across the value chain include:

• Fortune Cross (Thailand) Company Limited
• Mohit Engineers Pvt. Ltd
• NTN Corporation
• GKN Plc
• Nexteer Automotive
• Trelleborg AB
• Hyundai WIA Corporation
• American Axle Manufacturing Inc
• Dana Incorporated
• Xuchang Yuangdong Driveshaft Co., Ltd
• Neapco Holdings

Related Reports:

• Automotive Fuel Tanks Market–

With a robust CAGR of 7.0% in terms of value for the period 2017-2025, the global automotive fuel tanks market is on track to be worth over US$ 40 Bn by end 2025, making it a market too lucrative to ignore.

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