Strategies For Global Automotive Drive Shaft Market Players In 2022-2031 Market Forecast Period
The Business Research Company’s Automotive Drive Shaft Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON , UK, September 28, 2022 /EINPresswire.com/ — According to ‘Automotive Drive Shaft Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026’ published by The Business Research Company, the automotive drive shaft market size is expected to grow to $19.99 billion in 2026 at a compound annual growth rate (CAGR) of 5.8%. The growing sales of electric vehicles are expected to propel the growth of the automotive drive shaft market going forward.
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The automotive drive shaft market consists of sales of the automotive drive shaft by entities (organizations, sole traders, and partnerships) that are used to connect the transmission unit and engine in the car for front and four-wheel drive. A driveshaft is a mechanical component of automotive that provides transmission of torque from the engine gearbox to the vehicle wheels in a synchronized manner for smooth motion of the vehicle. The automotive driving shaft uses a rod-like component that transmits torque from the vehicle’s engine to the wheels.
Global Automotive Drive Shaft Market Trends
New product innovation is the key trend gaining popularity in the automotive drive shaft market. Major companies operating in the automotive drive shaft market are focused on developing new product innovations and solutions to strengthen their position. For instance, in March 2021, Nexteer Automotive, a US-based multinational company operating in automotive drive shaft and motion control technology, launched its new half-shaft technologies to strengthen its driveline portfolio to meet the unique demands of electric vehicles in the drive shaft. The new half-shaft technology from Nexteer Automotive can solve challenges in the optimization of noise, vibration, and harshness (NVH) performance in electric vehicles by enhancing durability and efficiency.
Global Automotive Drive Shaft Market Segments
The global automotive drive shaft market is segmented:
By Product Type: Rigid Side shaft, Hollow Side shafts
By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle
By Drive Type: Front Wheel Drive, Rear Wheel Drive, Others
By Material: Aluminum, Steel, Carbon Fiber
By Sales Channel: OEM, Aftermarket
By Geography: The global automotive drive shaft market research report is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific accounts for the largest share.
Read more on the global automotive drive shaft market report here
Automotive Drive Shaft Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides automotive drive shaft market analysis, overviews and forecasts market size and growth for the global automotive drive shaft market, automotive drive shaft global market share, automotive drive shaft global market segments and geographies, automotive drive shaft global market players, automotive drive shaft global market leading competitor revenues, profiles and market shares. The automotive drive shaft global market report identifies top countries and segments for opportunities and strategies based on market trends and key competitors’ approaches.
TBRC’s Automotive Drive Shaft Global Market Report 2022 includes information on the following:
Data Segmentations: Market Size, Global, By Region and Country, Historic and Forecast, and Growth Rates for 60 Geographies
Key Market Players: GKN Automotive Limited, JTEKT Corporation, American Axle & Manufacturing Inc, Dana Incorporated, Hyundai Wia Corporation, Yamada Manufacturing Co Ltd, Nexteer Automotive India, IFA Group, NTN Corporation, Neapco Inc, Bailey Morris Limited, Xuchang Yuandong Drive Shaft Co Ltd, The Timken Company, Showa Corporation, Meritor Inc, and Wilson Drive Shaft Ltd.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
And so much more.
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets.
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