Drive Shaft Market 2022 Trends, Analysis, Growth, Opportunities, Forecast to 2028

 

The global drive shaft market is anticipated to grow at a CAGR of 5.5% during the forecast period (2022-2028). A drive shaft (also known by the names as driveshaft, driving shaft, tail shaft, propeller shaft, or Cardan shaft) is basically a component for transmitting mechanical power and torque and rotation, normally used to connect other components. It is also used to transmit power from one part to another, or from machines to machines which consume power. The market growth is majorly attributable to the introduction of new technologies aiming to lightweight the overall vehicle is also projected to drive the global drive shaft market. Additionally, with the significant production, the automotive market is witnessing increasing demand for fuel efficient vehicles owing to an increased focus on sustainability. The Tier I suppliers along with the OEMs are combining to develop innovative fuel-efficient technologies and lightweight solutions to enhance vehicle performance. These factors are estimated to play a vital role in the global drive shaft market. 

Market Segmentation:

By Design Type

• Hollow Shaft
• Solid Shaft

By Position Type

• Rear Axle
• Front Axle

By Vehicle Type

• Passenger Cars
• Commercial Vehicles

Competitive Landscape:  GKN plc, Dana Inc., and NTN Corp., among others.

Geographic Coverage

o North America Market Size and/or Volume

o Latin America Market Size and/or Volume

o Europe Market Size and/or Volume

o Asia-Pacific Market Size and/or Volume

o Rest of the world Market Size and/or Volume

Key Benefits of Buying the Global Drive Shaft Report:

• Comprehensive analysis of the changing competitive landscape
• Assists in decision making processes for the businesses along with detailed strategic planning methodologies
• The report offers an 8-year forecast and assessment of the Global Drive Shaft Market
• Helps in understanding the key product segments and their estimated growth rate
• In-depth analysis of market drivers, restraints, trends, and opportunities
• Comprehensive regional analysis of the Global Drive Shaft Market
• Extensive profiling of the key stakeholders of the business sphere
• Detailed analysis of the factors influencing the growth of the Global Drive Shaft Market