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Automotive Drive Shaft Market Estimated to Flourish by 2019 - 2027
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Expansion of Automotive Drive Shaft Market
The expansion of the automotive industry across the globe, especially in developing economies such as China, India, and Brazil, is driving the global automotive drive shaft market. The automotive industry in Asia Pacific has been expanding at a notable pace since the last decade. The production of the auto industry has significantly increased in China, and India; additionally, they have made rapid advances in terms of volume production of vehicles, which in turn drives the global automotive drive shaft market. The high focus of automakers on reducing the weight of vehicles in order to enhance their efficiency and lower emission levels, due to enactment of stringent emission laws in most of the countries, is boosting the development of new materials for manufacturing of drive shafts, which in turn is propelling the market for automotive drive shaft.
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Regional Analysis of Automotive Drive Shaft market
In terms of region, the global automotive drive shaft market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific held a significant share of the global automotive drive shaft market in 2018, owing to high production of vehicles and rising demand for powerful performance vehicles among rapidly developing economies in the region. The global automotive drive shaft market is directly influenced by vehicle production and increasing penetration of four wheel drive vehicles.
Europe and North America are key markets for the automotive drive axle, owing to production of large number of premium and all-wheel drive vehicles. Countries with extreme cold weather situations in these two regions witness higher demand for four wheel drive vehicles due to their superior performance on icy roads.
Prominent players operating in the global automotive drive shaft market include Advanced Composite Products & Technology Inc., American Axle & Manufacturing, Inc., Bailey Morris Limited, D & F PROPSHAFTS, Dana Limited, GKN Plc., HYUNDAI WIA CORP., IFA Group, JTEKT Corporation, Neapco, Nexteer Automotive Group Ltd., and Wilson Drive Shaft.
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Global Automotive Drive Shaft Market: Segmentation
Automotive Drive Shaft Market, by Drive Shaft TypeSingle Piece
Multi-piece
Automotive Drive Shaft Market, by Drive TypeFront Wheel Drive
Rear Wheel Drive
Others
Automotive Drive Shaft Market, by Drive SystemTwo Wheel Drive
Four Wheel Drive
Automotive Drive Shaft Market, by MaterialAluminum
Steel
Carbon Fiber
Automotive Drive Shaft Market, by VehiclePassenger Vehicle
Commercial Vehicle
Electric Vehicle
Automotive Drive Shaft Market, by RegionNorth AmericaU.S.
Canada
EuropeGermany
U.K.
France
Italy
Spain
Rest of Europe
Asia PacificChina
India
Japan
ASEAN
Rest of Asia Pacific
Middle East & AfricaGCC Countries
South Africa
Rest of Middle East & Africa
Latin AmericaBrazil
Mexico
Rest of Latin America
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