Drive Shaft Market
Drive Shaft Market Global Industry Assessment & Forecast
- By Type Hollow, Rigid
- By Position Front, Rear
- By Vehicle Type Passenger Cars, Light Commercial Vehicles
|Forecast Years:||2021 - 2028|
|Historical Years:||2016 - 2020|
|Revenue 2021:||7.82 Billion|
|Revenue 2028:||11.24 Billion|
|Revenue CAGR (2021 - 2028):||5.60%|
|Fastest Growing Region (2022 - 2028)||Asia Pacific|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request Customization Speak To Analyst
Frequently Asked Question
The global Drive Shaft valued at 7.82 Billion in 2020 and is expected to reach 11.24 Billion in 2028 growing at a CAGR of 5.60%%.
The prominent players in the market are Nexteer Automotive Group Limited, GKN PLC, NTN Corporation, Neapco Holdings LLC, Hyundai Wia Corporation, Yamada Manufacturing Co. Ltd., American Axle & Manufacturing Holdings Inc., Ifa Rotorion - Holding GmbH, Trelleborg AB, NKN Ltd..
The market is project to grow at a CAGR of 5.60%% between 2021 and 2028.
The driving factors of the Drive Shaft include
- The increasing demand for lightweight components is anticipated to augment the global drive shafts market in the years to come. This is due to the majority of the present and upcoming electric vehicle models are all-wheel drives (AWD) or rear-wheel drive (RWD), which is expected to generate a huge demand for lightweight drive shafts.
- The rising vehicle sale and production across the globe is anticipated to augment the growth of the drive shaft market during the forecast period. This is owing to the rapid urbanization, increasing disposable income of the consumers, and advancement in technologies. Furthermore, the increasing adoption of personal vehicles has also increased the global sales and production of automobiles which in turn is expected to support the growth of the drive shaft market in the forecast period.
Asia Pacific was the leading regional segment of the Drive Shaft in 2020.