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
Research Methodology: Drive Shaft Market - Global Market Assessment, 2021 - 2028
Drive Shaft Market study involves the combination of secondary and primary research for data collection and utilizes a robust and veracious methodology to attain results on quantitative and qualitative analysis for specific market research studies. Moreover, Vantage Market Research utilizes tried and tested approaches to arrive at market-related projections. The research methodology is based on the 3-dimensional model consisting of 3 phases namely: Secondary Research, Primary Research, and Data Triangulation. After the exhaustive secondary research, the procured information is revalidated through primary research.
The primary research was conducted to gather further information and revalidate the data collected from the secondary research. Moreover, primary research is also conducted to identify key players in the market and to gather their market-specific financial information. A typical primary interview fulfills data requirements pertaining to first-hand information on global market size, regional and segmental trends, competitive landscape expertise development, and market understandings among others.
Data Triangulation and Market Size Estimations
Top-down and bottom-up approaches are used to validate and estimate the market size of the Drive Shaft market. After the determination of the overall market size, the market is divided into various segments and sub-segments. Moreover, these same approaches mentioned above were used to derive and estimate market numbers for mentioned segments/sub-segments in the market. The data was triangulated by employing various data models and statistical techniques to arrive at exact statics and market size for each segment/sub-segment of the market. Moreover, region-wise product mapping analysis was used to gain some more insights on the competitive trend in the global Drive Shaft market.
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.