Drive Shaft Market

Drive Shaft Market by Type (Hollow, Rigid) by Position (Front, Rear) by Vehicle Type (Passenger Cars, Light 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 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.

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