Automotive Constant Velocity Joint Market worth $5.64 billion by 2030, growing at a CAGR of 6.29% - Exclusive Report by 360iResearch

The "Automotive Constant Velocity Joint Market by Joint Type (Ball Joints, Inboard / Outboard, Plunge Joints), Propulsion (Electric, HybrId, ICE), Vehicle Type, Distribution Channel - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Automotive Constant Velocity Joint Market to grow from USD 3.68 billion in 2023 to USD 5.64 billion by 2030, at a CAGR of 6.29%.

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Automotive constant velocity, or CV, joints are crucial automotive components that connect the vehicle's transmission to its wheels. Automotive CV joints are an important part of the driveshaft, used primarily in front-wheel drive vehicles, as well as rear- and four-wheel drive vehicles. Each drive wheel in a vehicle has two automotive CV joints, including the inner joint, which connects the transmission to the vehicle's axle, and the outer joint, which connects the axle to the wheel. The automotive CV joint is equipped with the ability to move along with the vehicle's suspension in any direction while maintaining the drive wheels at a constant velocity. Recent years have seen a rapid increase in ownership of vehicles due to growing disposable incomes among middle-class consumers. Consequently, the expanding production of various types of automobiles, such as passenger and commercial vehicles, has created a significant demand for automotive CV joints. Furthermore, sustainability concerns have become a pivotal factor driving the need for energy-efficient automotive CV joints. However, due to the possibility of protective boot cracks and wear and tear of automotive CV joints, the components need frequent maintenance and lubrication protocols. Additionally, technical and application constraints can further impede the widespread adoption of the components. However, key players are exploring technological advancements and the development of integrated wheel drive systems to improve the mobility and efficiency of automobiles and overcome technical hurdles of automotive CV joints. Additionally, electric vehicles, which have different requirements for automotive CV joints and the growing preference for EVs, can create new growth opportunities for the industry.

Propulsion: Preference for electric propulsion to tackle sustainability concerns

Electric propulsion in vehicles is driven by electric motors using energy typically stored in batteries. Electric vehicles (EVs) often have high torque from a standstill, necessitating robust CV joints to handle the immediate application of force. Furthermore, since EVs require fewer drivetrain components, the CV joints may sometimes be integral to the drive unit assembly. Hybrid propulsion systems use a combination of internal combustion engines (ICE) and electric motors. In hybrids, constant velocity joints are an important component that transmit power from both the ICE and electric motor to the vehicle's wheels. They need to accommodate the diverse power delivery characteristics of the two systems, including the electrical system's quick torque delivery and the ICE's higher sustained power levels. Vehicles powered solely by internal combustion engines (ICE) rely on constant velocity joints to transmit the rotational power produced by the engine to the wheels while ensuring a range of motion due to steering and suspension articulation. In ICE vehicles, CV joints are subject to the engine's torque characteristics and power curves. They are typically designed to handle high-speed rotations and the power output fluctuations of the ICE during different driving conditions, such as acceleration and deceleration.

Vehicle Type: Growing ownership of passenger cars due to rising disposable incomes

Light commercial vehicles, including pickup trucks, vans, and three-wheelers, are motor vehicles equipped with at least four wheels and are commonly used for the carriage of goods. Given that LCVs often operate under variable load conditions and require good maneuverability for urban driving and parking, CV joints play a critical role in maintaining reliable and smooth driveline performance. A heavy commercial vehicle (HCV) has a gross vehicle weight (GVW) of more than 40 tons. Heavy-duty commercial vehicles such as trucks are used to transport heavy commodities such as steel, cement, and fertilizer. In heavy commercial vehicles (HCVs), such as trucks and buses, constant velocity joints are less common than they are in lighter vehicles since HCVs typically utilize robust solid axle setups for transmitting power. However, CV joints may be found in certain HCV applications where independent suspension systems are employed or where enhanced maneuverability is required. A passenger car or vehicle is intended for the carriage of up to nine passengers. In passenger cars, automotive CV joints are commonly employed in front-wheel drive (FWD) and all-wheel drive (AWD) vehicles, facilitating smooth and efficient power transfer from the engine to the drive wheels regardless of wheel steering angle or suspension movement. Preference for automotive CV joints for passenger cars hinges on energy efficiency, lightweight design, and durability.

Joint Type: Growing adoption of plunge joints due to their lightweight design

Plunge joints are used to enable angular movement between the wheels and are used in constant-velocity shafts. They have an axial displacement function which facilitates length compensation of the side shaft. Plunge joints are associated with a lightweight design, thereby offering substantial benefits in terms of production costs and system weight. Rzeppa joints are employed in automobiles to transmit rotational motion between two misaligned shafts and enable a wide range of movement between the two shafts. Rzeppa joints provide a constant velocity of rotation, thereby helping to reduce vibration and noise in the drivetrain. Their durability and long service life reduced the need for frequent replacement or maintenance. A tripod automotive CV joint is used at the inboard end of a driveshaft or half-shaft to transfer uniform torque and constant speed. Tripod joints create less friction during their movement as the rollers have needle bearings inside them. While a tripod-type CV joint is used on the inner side of the drive shafts, the ball joints are used on the outer side of the drive shafts. The outboard joint refers to a fixed type joint that is often assembled to wheel sides to achieve high joint angle and high efficiency. On the other hand, an inboard joint is a plunging joint assembled to transmission sides to achieve low acceptable noise, vibration, and harshness (NVH) and low backlash.

Distribution Channel: Inclination towards aftermarket distribution channel due to its cost-effectiveness and easy availability

The aftermarket distribution channel encompasses the supply of constant velocity joints for the replacement market. This channel serves a diverse range of customers, from independent repair shops to national auto part retail chains. Aftermarket CV joints are designed to meet or exceed OEM specifications, but they are also developed to provide cost-effective solutions for vehicle repairs post-warranty period. Distribution in the aftermarket is facilitated through a network of distributors, wholesalers, and retailers, including online e-commerce platforms, which provide accessibility and convenience to end users seeking replacements or upgrades for their vehicles. Original equipment manufacturers provide a direct connection between producers of automotive CV joints and vehicle manufacturers. In this channel, CV joints are supplied directly to the vehicle manufacturers to be installed in new cars, trucks, and SUVs during the assembly process. This channel prioritizes high-quality standards, precision engineering, and timely delivery to ensure the seamless integration of automotive CV joints into vehicle production lines.

Regional Insights:

The Americas region, particularly the US and Canada, is comprised of a robust automotive industry and technological architecture, which drives the need and demand for automotive CV joints. Constant technological advancements and product launches of automotive CV joints have facilitated innovations in the field. Europe is characterized by the presence of several stringent guidelines and regulations pertaining to environmental emissions and sustainability, which shapes the market demand for automotive CV Joints. Plates in this region are focusing on producing advanced automotive CV joints for electric vehicles to cater to consumer demand for EVs. APAC's position as a manufacturing hub for crucial automotive components and the presence of a growing middle-class population provide opportunities for the growth of the industry. The presence of several key players and suppliers in economies such as China, India, and South Korea creates an environment of growth and a need for automotive CV joints for EVs and military, specialty, and motorsports vehicles.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Automotive Constant Velocity Joint Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Automotive Constant Velocity Joint Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Automotive Constant Velocity Joint Market, highlighting leading vendors and their innovative profiles. These include AIKOKU ALPHA, American Axle & Manufacturing, Inc., Anand Auto Corporation, Comer Industries Spa, Dana Inc., EMAG GmbH & Co. KG, F.B.Axles Pvt. Ltd., GKN Automotive Limited, GSP Automotive Group Wenzhou Co. Ltd., Hartford Technologies, Inc., Hyundai WIA Corporation, IFA Group, IPD GmbH, Kalyani Mobility Drivelines, Nanyang Automobile & Cycle Group, Nexteer Automotive Group Ltd., NKN LTD, NTN Corporation, Rockford Constant Velocity, Seohan Group, Shandong Carfree Auto Fittings CO., LTD, SKF, Taizhou Hongli Automobile Parts Co., Ltd., The Rowland Company, Universal Engineers, Walterscheid Powertrain Group, Wanxiang Qianchao Co. Ltd., and WONH Industries co, ltd..

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Market Segmentation & Coverage:

This research report categorizes the Automotive Constant Velocity Joint Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Joint Type, market is studied across Ball Joints, Inboard / Outboard, Plunge Joints, Rzeppa Joints, and Tripod Joints. The Inboard / Outboard is projected to witness significant market share during forecast period.

Based on Propulsion, market is studied across Electric, HybrId, and ICE. The Electric is projected to witness significant market share during forecast period.

Based on Vehicle Type, market is studied across Heavy Commercial Vehicle, Light Commercial Vehicle, and Passenger Car. The Light Commercial Vehicle is projected to witness significant market share during forecast period.

Based on Distribution Channel, market is studied across Aftermarket and OEM. The OEM is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 38.17% in 2023, followed by Europe, Middle East & Africa.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Automotive Constant Velocity Joint Market, by Joint Type
7. Automotive Constant Velocity Joint Market, by Propulsion
8. Automotive Constant Velocity Joint Market, by Vehicle Type
9. Automotive Constant Velocity Joint Market, by Distribution Channel
10. Americas Automotive Constant Velocity Joint Market
11. Asia-Pacific Automotive Constant Velocity Joint Market
12. Europe, Middle East & Africa Automotive Constant Velocity Joint Market
13. Competitive Landscape
14. Competitive Portfolio
15. Appendix

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Automotive Constant Velocity Joint Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Automotive Constant Velocity Joint Market?
3. What is the competitive strategic window for opportunities in the Automotive Constant Velocity Joint Market?
4. What are the technology trends and regulatory frameworks in the Automotive Constant Velocity Joint Market?
5. What is the market share of the leading vendors in the Automotive Constant Velocity Joint Market?
6. What modes and strategic moves are considered suitable for entering the Automotive Constant Velocity Joint Market?

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