Global Automotive Drive Shaft Market Comprehensive Analysis, Booming Trends and Business Growth with Key Players like The Timken Company, HYUNDAI WIA Machine Tool, NEAPCO, Bailey Morris Ltd, MPP, Wanxiang Qianchao Co., Ltd., Dana Incorporated, Meritor
Global Automotive Drive Shaft Market is expected to rise from its initial estimated value of USD 5.84 billion in 2018 to an estimated value of USD 10.20 billion by 2026, registering a CAGR of 7.23% in the forecast period of 2019-2026. Increase in the heavy commercial vehicle is the major factor for the growth of this market.
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Key Developments in the Market: Global Automotive Drive Shaft Market
In September 2017, Dana launched lightweight driveshaft for heavy- duty commercial vehicles- SPL 250 Lite driveshaft. This new product is 25 pounds lighter than other competitive drive shafts and its torque rating is 18,439 lb. The lower numeric axle ratios will support engine downspeeding and will improve fuel efficiency.
In November 2016, Yukon Gear & Axle launched drive shaft for the jeep and off- road vehicle. This driver shaft is made from latest technologies for higher strength and longer life.
Table of Contents: Global Automotive Drive Shaft Market
Scope/opportunities of the Report
Porter’s Five Forces Analysis
Business Decision Framework
Drivers And Challenges
Market Key Trends
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Competitive Analysis: Global Automotive Drive Shaft Market
Global automotive drive shaft market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of automotive drive shaft market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Major Market Competitors/Players: Global Automotive Drive Shaft Market
AAM - American Axle & Manufacturing, Dana Incorporated, Meritor, Nexteer Automotive, The Timken Company, HYUNDAI WIA Machine Tool, NEAPCO, Bailey Morris Ltd, MPP, Wanxiang Qianchao Co., Ltd., Xuchang Yuandong Drive Shaft Co., Ltd., D& F Propshafts, Yamada Industry Co.,Ltd., Melrose Industries PLC., Advanced Composite Products & Technology, Inc.
Market Drivers: Global Automotive Drive Shaft Market
When is enclosed in a tube they requires less maintenance as compared to chain systems.
The drive system is less likely to get jammed.
Market Restraints: Global Automotive Drive Shaft Market
Replacing drive shaft can be very expensive which is restraining the market.
They are heavier in weight.
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Market Segmentation: Global Automotive Drive Shaft Market
USA (North America, US, Canada, Mexico, South America, Brazil, Argentina, Rest of South America)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland, Rest of Europe)
Asia-Pacific (Japan, China, South Korea, India, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, Rest of Asia-Pacific)
Middle East and Africa (South Africa, Egypt, Saudi Arabia, United Arab Emirates, Israel, Rest of Middle East and Africa)
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