Automotive Side shafts Market
Automotive Side shafts Market Global Industry Assessment & Forecast
- By Design Type Hollow Shaft, Solid Shaft
- By Position Type Rear Axle, Front Axle
- By Vehicle Type Passenger Cars, Commercial Vehicles
|Forecast Years:||2021 - 2028|
|Historical Years:||2016 - 2020|
|Revenue 2021:||27.20 Billion|
|Revenue 2028:||42.37 Billion|
|Revenue CAGR (2021 - 2028):||5.24%|
|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
The global Automotive Side shafts market was valued at USD 27.20 Billion in 2020 and is projected to reach USD 42.37 Billion by 2028, growing at a CAGR of 5.24%% from 2021 to 2028.
|Historical Data (Actual Data)||2016-2020|
|Base Year Data||2020|
|Current Year Date||2021|
|Projected year data||2021-2028|
|Annual Market Size (2028)||42.37 Billion|
|Annual Market Size (2021)|
|CAGR (2021 - 2028)||5.24%%|
Definition And Overview
Automotive drive shafts are motorized components employed for the purpose of providing torque from the transmission to the differential; this torque is then transmitted to the wheels in order to move the vehicle. These components are made up of aluminum, steel, and carbon fiber. Drive shafts are used differently in different vehicles such as cars motorcycles, locomotives, and marine vessels. In cars the configurations are different for front-wheel drive, four-wheel drive, and the front-engine rear-wheel drive.
This report provides an analysis of the Automotive Side shafts market for the historic period of 2016–2019 and forecasts for 2021–2028 while 2020 is considered as a base year for estimations. The report covers exhaustive analysis on the global Automotive Side shafts industry, which includes market trends, drivers, restraints, opportunities, segmental analysis, regional trends, and competitive landscape among others. The report provides a detailed study on various product types and their applications in different industry verticals at the global/regional/country level. This study comprises the market size in terms of revenue for each segment at the global/regional/country level along with a detailed analysis of growth prospects, challenges, and opportunities. Moreover, it covers an extensive competitive landscape covering key players in the industry and their comparative study on the basis of different parameters such as company overview, product portfolio, market revenue, business, and marketing strategies.
The report includes a separate section covering detailed Automotive Side shafts industry analysis based on various macro/micro factors impacting the growth of the market. This section explains various driving factors, restraints/challenges, and opportunities in detail. In addition to that, the same section provides industry analysis based on several strategic marketing tools such as Cost Structure Analysis, Porter’s Five Forces Analysis, Pricing Analysis, SWOT Analysis, PESTLE Analysis, Player Positioning Analysis, Downstream Buyers, List of distributors, and Value Chain Analysis among others.
The increasing demand for electric vehicles is anticipated to augment the growth of the automotive side shafts market during the forecast period. The vehicle manufacturers are putting all their efforts into manufacturing the most efficient electric vehicles. Moreover, driveshaft manufacturers are updating their product list to supply the best products to the OEMs to gain market share.
The increasing demand for lightweight components is anticipated to augment the global automotive side 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.
The major factor which is expected to hamper the growth of the automotive side shafts sensor market is the high cost associated with the replacement of drive shaft. The drive shaft is the bar that drives the wheels of a vehicle. The rubber gaiters which are located at each end of these shafts prevent the bearings at the end of the drive shaft damaging from water. Once moisture has gone past the gaiter the drive shaft will fail to work and increase the costs of replacements.
COVID-19 Impact Analysis
When the Covid19 pandemic started in China last year it sends its shock waves to countries across the globe. And as the number of cases was on the rise, it enforced the governments across the world to take severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop the impending catastrophe. These actions had a dramatic impact on the economy, as the industrialist across the globe were forced to halt their production, leading to supply chain disruptions and impairing of various industries. Thus, plummeting the global markets. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.
The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:
o Impact Assessment of COVID-19 Pandemic
o Pre & Post COVID-19 Market Size
o Qualitative analysis on the short term & long-term impact of COVID-19 on the market
o The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.
|Market Size Provided for Years||2016-2028|
|Market Size Provided In Terms Of||Revenue & Volume|
|Segments Covered||Design Type, Position Type, Vehicle Type|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Countries Covered||The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Companies Covered||NTN, NKN, Gestamp, Hyundai Wia, GKN, Dana, Showa Corporation, American Axle & Manufacturing Holdings, Nexteer Automotive Group, Trelleborg, Showa Corporation, Yamada Manufacturing, Kingtime Group, Ifa Rotorion Holding, Neapco Holdings, Meritor, ZF Friedrichshafen.|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and Asia Pacific, company market share analysis, and COVID-19 impact analysis|
The report delivers an acute breakdown of the market based on various segments such as Design Type, Position Type, Vehicle Type, and region. All the segments are studied considering historical and future trends across geographies. All the segments are analyzed based on trends, market size, and forecast, and the data is provided for the years 2016–2028. Several growth factors and opportunities impacting various segments have been incorporated in the report.
On the basis of Design Type, the market is divided into Hollow Shaft, Solid Shaft. Solid Shaft held the largest share in 2020 and is projected to grow at a noteworthy CAGR within the forecast period.
Based on Position Type, the market is divided into Rear Axle, Front Axle. Rear Axle attributed to the highest market share and is expected to grow at a significant CAGR from 2021 to 2028.
Global Automotive Side shafts Market: Design Type Segment Analysis
- Hollow Shaft
- Solid Shaft
Global Automotive Side shafts Market: Position Type Segment Analysis
- Rear Axle
- Front Axle
Global Automotive Side shafts Market: Vehicle Type Segment Analysis
- Passenger Cars
- Commercial Vehicles
Regional Analysis: Preview
Based on the geography, the global Automotive Side shafts market is segmented into North America, Latin America, Asia
Pacific, Europe, and the Middle East & Africa. The report further segments
the regional study into key country-level markets from each region. This section
of the report provides a comprehensive review of the Automotive Side shafts market at the regional and country level. The report covers all the major developments
specific to Automotive Side shafts industry across
geographies and explains its impact on the market. The regional analysis
section also provides analysis of the impact of various factors such as
economies, industry competition, technological advancements, import-export
ratio, and raw material availability among others. The concentration of raw
material suppliers as well as market players in one specific region impacts the
global market scenario and the report covers exclusive information on the
same. Also, the report analyzes the
intensity of competition in each region and its influence on the growth of the
global Automotive Side shafts market.
Market Size, 2021 (USD Billion)
Global Automotive Side shafts Market: Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
The global Automotive Side shafts market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Automotive Side shafts market are NTN, NKN, Gestamp, Hyundai Wia, GKN, Dana, Showa Corporation, American Axle & Manufacturing Holdings, Nexteer Automotive Group, Trelleborg, Showa Corporation, Yamada Manufacturing, Kingtime Group, Ifa Rotorion Holding, Neapco Holdings, Meritor, ZF Friedrichshafen.. This section of the report will provide you extensive information on all key players based on business overview, product portfolio, marketing strategies, recent developments, financial performance, and geographical presence among others. Moreover, the report will also include extensive analysis on key strategies adopted by market players such as new product development/launch, merger & acquisitions, partnerships, collaborations & joint ventures, research & development, and regional expansion.
Frequently Asked Question
What is the global demand for Automotive Side shafts in terms of revenue?
The global Automotive Side shafts valued at 27.20 Billion in 2020 and is expected to reach 42.37 Billion in 2028 growing at a CAGR of 5.24%%.
Which are the prominent players in the market?
The prominent players in the market are NTN, NKN, Gestamp, Hyundai Wia, GKN, Dana, Showa Corporation, American Axle & Manufacturing Holdings, Nexteer Automotive Group, Trelleborg, Showa Corporation, Yamada Manufacturing, Kingtime Group, Ifa Rotorion Holding, Neapco Holdings, Meritor, ZF Friedrichshafen..
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 5.24%% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
The driving factors of the Automotive Side shafts include
- The increasing demand for electric vehicles is anticipated to augment the growth of the automotive side shafts market during the forecast period. The vehicle manufacturers are putting all their efforts into manufacturing the most efficient electric vehicles. Moreover, driveshaft manufacturers are updating their product list to supply the best products to the OEMs to gain market share.
- The increasing demand for lightweight components is anticipated to augment the global automotive side 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.
Which region accounted for the largest share in the market?
Asia Pacific was the leading regional segment of the Automotive Side shafts in 2020.