
Drive Shaft Market
Drive Shaft Market Global Industry Assessment & Forecast
Segments Covered
By Type Hollow, Rigid
By Position Front, Rear
By Vehicle Type Passenger Cars, Light Commercial Vehicles
Snapshot
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2021 - 2028 |
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2016 - 2020 |
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7.82 Billion |
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11.24 Billion |
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5.60% |
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Asia Pacific |
Customization Offered
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
Key insights
The global Drive Shaft market was valued at USD 7.82 Billion in 2020 and is projected to reach USD 11.24 Billion by 2028, growing at a CAGR of 5.60%% from 2021 to 2028.

Years | Parameters |
---|---|
Historical Data (Actual Data) | 2016-2020 |
Base Year Data | 2020 |
Current Year Date | 2021 |
Projected year data | 2021-2026 |
Annual Market Size (2028) | 11.24 Billion |
Annual Market Size (2021) | |
CAGR (2021 - 2028) | 5.60%% |
Definition And Overview
The drive shaft also called as propeller shaft or prop shaft is a component of the drive train in a vehicle that is used to deliver torque from the transmission to the differential, which then transmits this torque to the wheels in order to move the vehicle. The drive shaft is primarily used to transfer torque between components that are separated by a distance, since different components must be in different locations in the vehicle. A front-engine rear-wheel drive car must have a long drive shaft connecting the rear axle to the transmission since these parts are on opposite sides of the car. Drive shafts are used differently in different vehicles, varying greatly in cars with distinct configurations for front-wheel drive, four-wheel drive, and the previously mentioned front-engine rear-wheel drive.
The report covers in-depth study on the global Drive Shaft market, which comprises market trends such as drivers, restraints, and opportunities, regional trends, segmental analysis, and competitive landscape among others. This study comprises the market estimations and forecast in terms of revenue for each segment at the global/regional/country level along with a detailed analysis of growth prospects, challenges, and opportunities. The report includes a separate chapter covering detailed Drive Shaft market overview that includes Porter’s Five Forces Analysis, PESTLE Analysis, Player Positioning Analysis, SWOT Analysis, and Value Chain Analysis among others.
COVID-19 Impact Analysis
The wise spread
COVID-19 outbreak has impacted several industries including Drive Shaft. The
governments across the globe compel to employ stringent restriction such as
lockdown, international border seals, and
implementing strict social distancing measures. This forces serval
industries to opt for work from home which in turn disrupted the business
processes. However, after mid 2021 the world is witnessing reopening of trading
activities, business operations which is expected to stimulate the economic
growth during upcoming 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.
Industry Analysis
The report explains various driving factors, restraints/challenges, and opportunities in detail. These assessments aid the industry stakeholders to analyze the Drive Shaft market on the basis of different parameters, such as economies of scale, the share of various distribution channels, various factors affecting consumer behavior such as brand loyalty, price, and product availability among others, capital investments, regulatory landscape, production rights and patents, promotional strategies, and other customer preferences.
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.
The major factor which is expected to hamper the growth of the drive shafts 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.
Global Drive Shaft Market Report Scope
Parameter | Details |
---|---|
Market Size Provided for Years | 2016-2028 |
Base Year | 2020 |
Historic Years | 2016-2020 |
Forecast Years | 2021-2028 |
Market Size Provided In Terms Of | Revenue & Volume |
Segments Covered | Type, Position, 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 | 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. |
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 |
Market Segmentation
The report
delivers an acute breakdown of the market based on various segments such as Type,
Position, Vehicle Type and region. The report will cover market
estimations and forecast for each segment by region for the years 2016–2028. Several
growth factors and opportunities impacting various segments have been
incorporated in the report. On
the basis of Type, the market is divided into Hollow, Rigid. Hollow
held the largest share in 2020 and is projected to witness substantial growth
during the forecast period.
Based
on Position, the market is divided into Front, Rear. Rear
attributed to the highest market share and is expected to grow at a significant
CAGR from 2021 to 2028.
Global Drive Shaft Market: Type Segment Analysis
-
- Hollow
- Rigid
Global Drive Shaft Market: Position Segment Analysis
-
- Front
- Rear
Global Drive Shaft Market: Vehicle Type Segment Analysis
-
- Passenger Cars
- Light Commercial Vehicles
Global Drive Shaft Market: Regional Analysis
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- France
- Germany
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
Competitive Landscape
The global Drive Shaft market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Drive Shaft 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.. 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 also includes extensive information on key strategies such as new product development/launch, merger & acquisitions, partnerships, collaborations & joint ventures, research & development, and regional expansion.
Global Drive Shaft Market : Regional Analysis
Based on the geography, the global Drive Shaft market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The regional analysis covers market estimations and forecast for each segment for each region for the years 2016–2028. 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 Drive Shaft market.
Market Size, 2021 (USD Billion)
FAQ
Frequently Asked Question
What is the global demand for Drive Shaft in terms of revenue?
-
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%%.
Which are the prominent players in the market?
-
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..
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 5.60%% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
-
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.
Which region accounted for the largest share in the market?
-
Asia Pacific was the leading regional segment of the Drive Shaft in 2020.