Overview
The drive shaft (driveshaft, driving shaft, tailshaft, propeller shaft, or Cardan shaft) Market is forecast to reach $8.76.1 billion by 2025, after growing at a CAGR of 7.12% during 2020-2025. The growth of the market is attributed to the growing concern towards the fuel efficiency coupled with strict government regulation regarding emission control, which has caused the launch of new BS-6 vehicles. The heavy adoption of environment friendly vehicles in the developed countries and consequent increase in production of these vehicles has allowed high deployment of drive shaft in the new vehicles thereby contributing towards the growth of the market. Another major reason contributing towards the growth of the Drive Shaft market is growing demand and consequent sales of all-wheel drive (AWD) vehicles, as two drive shaft are deployed in each vehicle. The demand of such advanced vehicles coupled with stringency and emission control regulations are anticipated to raise the growth of the drive shaft market during forecast period.
Key Takeaways
- North America dominated the Drive Shaft market in 2018, owing to the high demand of commercial and electric vehicles.
- Stringency in government regulations coupled with high growth in the launch of eco-friendly vehicles is anticipated to uplift the growth of the market.
- Hollow drive shaft held a largest share in 2018, due to its flexible and light design contributing towards the growth of the market during the forecast periods.
Design Type - Segment Analysis
Hollow Drive
Shaft held a larger market share in the Drive Shaft market in 2018. The growing
demand is mostly attributed to the technological advancements and high adoption
of the flexible and high performance drive shaft, which is driving the growth
of the market. The growing demand of the light weight and flexible vehicle
components in the automotive industry is one of the major factor contributing
towards the growth of the hollow drive shaft in the drive shaft market. In 2018, one of the CNC specialist NUM launched
a hollow shaft direct drive torque motor ideally applicable for smooth and
accurate rotation at low speed. The growing advancements and launch of new
products is anticipated to uplift the growth of the market during forecast
period.
Vehicle Type - Segment Analysis
In the recent
yeas (2018-2019), the high growth in the demand of heavy and light commercial
vehicles across the major countries such as the U.S., China, Japan, Germany, is
one of the major factor contributing towards the growth of the Drive Shaft market.
According
to OICA in 2018, the total number of commercial vehicles manufactured in the U.S.
was 8,51,8734 units. Such high production clearly depicts the high demand of
commercial vehicles in this region which is mostly to boost the growth of the
Drive Shaft market during forecast period from 2020-2025. With more than 11
million vehicles traveling on the U.S. roads, which is 11.5 % of the total
vehicles in the world as reported by the OICA in 2017, which is anticipated to
uplift the growth of the market during forecast period.
Geography - Segment Analysis
North America is estimated to dominate
the Drive Shaft market with an estimated market share of 37.23% which is
followed by the APAC, in 2018. The high growth of drive shaft market in North
American region is majorly attributed to the growing demand of the light
commercial vehicles and electric vehicles. The growing production of vehicles
and consequent increase in the deployment of drive shaft in these vehicles is
significantly contributing towards the growth of the market.
Drivers – Drive Shaft Market
·
Growing demand light
commercial vehicles/electric vehicles
One of the major
reason driving the growth of the driver shaft market is the high demand of the
light commercial vehicles and growing adoption of the environment friendly
electric vehicles across the developed countries such as the U.S., Canada,
Germany and other such regions. The heavy growth in the
technological advancements in these regions coupled with high production of new
vehicles and consequent increase in the deployment of drive shaft in these
vehicles is anticipated to drive the growth of the drive shaft market across
the globe.
·
Implementation of Stringent Environment Regulations
Governments across a number of nations are imposing stringent
regulations to boost the fuel economy in order to reduce vehicular emission.
The growing in stringent regulation for emission control and environment
protection act has allowed the launch of BS-6 vehicles. The launch of new
vehicles coupled with high deployment of sophisticated components such as Drive
Shaft in these vehicles is anticipated to drive the growth of the drive shaft
market during forecast period.
Challenges – Drive Shaft Market
·
Technical Drawback
One
of the major factor hindering the growth of the drive shaft market is complex
installation process and high cost of installation and reinstallation.
Moreover, once damaged the system cannot be repaired, it has to be replaced
completely. The high cost of replacement is anticipated to restrain the growth
of the market.
Market Landscape
Technology launches, acquisitions
and R&D activities are key strategies adopted by players in the fuel
additives market. In 2018, the market of Drive Shaft has been consolidated by the
top five players accounting for 46% of the share. Major players in the Drive
Shaft Market are GKN PLC, Hyundai Wia Corporation, Ifa
Rotorion-Holding GmbH,
Neapco Holdings LLC, Nexteer Automotive Group Limited, NKN, Ltd. among others.
Acquisitions/Technology Launches
- In 2017, Dana launched a new light weight driveshaft line, especially designed for commercial vehicles. The launch of new products is anticipated to raise the growth of the market during forecast period.
LIST OF TABLES
1.Global Automotive Sideshaft Market By Vehicle Type Market 2023-2030 ($M)1.1 Passenger Car Market 2023-2030 ($M) - Global Industry Research
1.1.1 Hatchback Market 2023-2030 ($M)
1.1.2 Sedan Market 2023-2030 ($M)
1.1.3 SUV/MUV/MPV Market 2023-2030 ($M)
1.1.4 Passenger Cars Market 2023-2030 ($M)
1.2 Light Commercial Vehicle Market 2023-2030 ($M) - Global Industry Research
1.3 Rigid Sideshaft Market 2023-2030 ($M) - Global Industry Research
1.4 Hollow Sideshafts Market 2023-2030 ($M) - Global Industry Research
2.Global Automotive Sideshaft Market By Vehicle Type Market 2023-2030 (Volume/Units)
2.1 Passenger Car Market 2023-2030 (Volume/Units) - Global Industry Research
2.1.1 Hatchback Market 2023-2030 (Volume/Units)
2.1.2 Sedan Market 2023-2030 (Volume/Units)
2.1.3 SUV/MUV/MPV Market 2023-2030 (Volume/Units)
2.1.4 Passenger Cars Market 2023-2030 (Volume/Units)
2.2 Light Commercial Vehicle Market 2023-2030 (Volume/Units) - Global Industry Research
2.3 Rigid Sideshaft Market 2023-2030 (Volume/Units) - Global Industry Research
2.4 Hollow Sideshafts Market 2023-2030 (Volume/Units) - Global Industry Research
3.North America Automotive Sideshaft Market By Vehicle Type Market 2023-2030 ($M)
3.1 Passenger Car Market 2023-2030 ($M) - Regional Industry Research
3.1.1 Hatchback Market 2023-2030 ($M)
3.1.2 Sedan Market 2023-2030 ($M)
3.1.3 SUV/MUV/MPV Market 2023-2030 ($M)
3.1.4 Passenger Cars Market 2023-2030 ($M)
3.2 Light Commercial Vehicle Market 2023-2030 ($M) - Regional Industry Research
3.3 Rigid Sideshaft Market 2023-2030 ($M) - Regional Industry Research
3.4 Hollow Sideshafts Market 2023-2030 ($M) - Regional Industry Research
4.South America Automotive Sideshaft Market By Vehicle Type Market 2023-2030 ($M)
4.1 Passenger Car Market 2023-2030 ($M) - Regional Industry Research
4.1.1 Hatchback Market 2023-2030 ($M)
4.1.2 Sedan Market 2023-2030 ($M)
4.1.3 SUV/MUV/MPV Market 2023-2030 ($M)
4.1.4 Passenger Cars Market 2023-2030 ($M)
4.2 Light Commercial Vehicle Market 2023-2030 ($M) - Regional Industry Research
4.3 Rigid Sideshaft Market 2023-2030 ($M) - Regional Industry Research
4.4 Hollow Sideshafts Market 2023-2030 ($M) - Regional Industry Research
5.Europe Automotive Sideshaft Market By Vehicle Type Market 2023-2030 ($M)
5.1 Passenger Car Market 2023-2030 ($M) - Regional Industry Research
5.1.1 Hatchback Market 2023-2030 ($M)
5.1.2 Sedan Market 2023-2030 ($M)
5.1.3 SUV/MUV/MPV Market 2023-2030 ($M)
5.1.4 Passenger Cars Market 2023-2030 ($M)
5.2 Light Commercial Vehicle Market 2023-2030 ($M) - Regional Industry Research
5.3 Rigid Sideshaft Market 2023-2030 ($M) - Regional Industry Research
5.4 Hollow Sideshafts Market 2023-2030 ($M) - Regional Industry Research
6.APAC Automotive Sideshaft Market By Vehicle Type Market 2023-2030 ($M)
6.1 Passenger Car Market 2023-2030 ($M) - Regional Industry Research
6.1.1 Hatchback Market 2023-2030 ($M)
6.1.2 Sedan Market 2023-2030 ($M)
6.1.3 SUV/MUV/MPV Market 2023-2030 ($M)
6.1.4 Passenger Cars Market 2023-2030 ($M)
6.2 Light Commercial Vehicle Market 2023-2030 ($M) - Regional Industry Research
6.3 Rigid Sideshaft Market 2023-2030 ($M) - Regional Industry Research
6.4 Hollow Sideshafts Market 2023-2030 ($M) - Regional Industry Research
7.MENA Automotive Sideshaft Market By Vehicle Type Market 2023-2030 ($M)
7.1 Passenger Car Market 2023-2030 ($M) - Regional Industry Research
7.1.1 Hatchback Market 2023-2030 ($M)
7.1.2 Sedan Market 2023-2030 ($M)
7.1.3 SUV/MUV/MPV Market 2023-2030 ($M)
7.1.4 Passenger Cars Market 2023-2030 ($M)
7.2 Light Commercial Vehicle Market 2023-2030 ($M) - Regional Industry Research
7.3 Rigid Sideshaft Market 2023-2030 ($M) - Regional Industry Research
7.4 Hollow Sideshafts Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Drive Shaft Market Revenue, 2023-2030 ($M)2.Canada Drive Shaft Market Revenue, 2023-2030 ($M)
3.Mexico Drive Shaft Market Revenue, 2023-2030 ($M)
4.Brazil Drive Shaft Market Revenue, 2023-2030 ($M)
5.Argentina Drive Shaft Market Revenue, 2023-2030 ($M)
6.Peru Drive Shaft Market Revenue, 2023-2030 ($M)
7.Colombia Drive Shaft Market Revenue, 2023-2030 ($M)
8.Chile Drive Shaft Market Revenue, 2023-2030 ($M)
9.Rest of South America Drive Shaft Market Revenue, 2023-2030 ($M)
10.UK Drive Shaft Market Revenue, 2023-2030 ($M)
11.Germany Drive Shaft Market Revenue, 2023-2030 ($M)
12.France Drive Shaft Market Revenue, 2023-2030 ($M)
13.Italy Drive Shaft Market Revenue, 2023-2030 ($M)
14.Spain Drive Shaft Market Revenue, 2023-2030 ($M)
15.Rest of Europe Drive Shaft Market Revenue, 2023-2030 ($M)
16.China Drive Shaft Market Revenue, 2023-2030 ($M)
17.India Drive Shaft Market Revenue, 2023-2030 ($M)
18.Japan Drive Shaft Market Revenue, 2023-2030 ($M)
19.South Korea Drive Shaft Market Revenue, 2023-2030 ($M)
20.South Africa Drive Shaft Market Revenue, 2023-2030 ($M)
21.North America Drive Shaft By Application
22.South America Drive Shaft By Application
23.Europe Drive Shaft By Application
24.APAC Drive Shaft By Application
25.MENA Drive Shaft By Application
26.GKN PLC, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Nexteer Automotive Group Limited, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.NTN Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Hyundai Wia Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Neapco Holdings LLC, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Ifa Rotorion-Holding GmbH, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Trelleborg AB, Sales /Revenue, 2015-2018 ($Mn/$Bn)