Automotive Side shafts Market

Automotive Side shafts Market by Design Type (Hollow Shaft, Solid Shaft) by Position Type (Rear Axle, Front Axle) by Vehicle Type (Passenger Cars, Commercial Vehicles) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028

Frequently Asked Questions

  • 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.

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