Press release
Automotive Constant Velocity Joint Market Reaching Nearly USD 4.75 Billion by 2030 growing by 5.2 %
Automotive Constant Velocity Joint Market
Automotive constant velocity joints play a pivotal role in transmitting torque to the wheels without experiencing high friction at a consistent speed. These joints, commonly encased in rubber filled with grease, are vital components in vehicles, contributing to the surge in demand, particularly in passenger cars. The market is poised for growth, fueled by the automotive industry's pursuit of enhanced fuel efficiency and reduced vehicle weight, prompting efforts to minimize joint size and enhance efficiency.
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Report Scope:
This comprehensive report covers market insights, including mergers, acquisitions, strategic alliances, and market structure by country, providing an insightful industry outlook. Segmentation encompasses joint types (Rzeppa joints, tripod joints, fixed and plunge joints, and others), vehicle types (passenger cars, light commercial vehicles, heavy commercial vehicles), and end-use (internal combustion engine vehicles, electric and hybrid vehicles, and others).
Research Methodology:
The report is the result of extensive primary and secondary research, incorporating insights from industry experts, market participants, and key stakeholders. Advanced analytical tools are utilized for accurate market forecasts and insights.
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Drivers:
Increasing demand for lightweight constant velocity joints to meet mileage and emission requirements.
Technological advancements in materials and production techniques driving efficiency improvements.
Global focus on reducing CO2 emissions and optimizing fuel use propelling lightweight vehicle concepts.
Restraints:
Lubrication challenges in electric vehicles, leading to increased wear and tear on constant velocity joints.
Complex tribology details hindering joint durability and efficiency.
Economic factors impacting market dynamics and consumer preferences.
Segmentation:
Joint Types: Rzeppa joints expected to dominate due to greater articulation angles and suitability for various applications.
Vehicle Types: Passenger cars anticipated to hold the largest market share, driven by the integration of constant velocity joints in drivelines.
End-Use: Growing demand for constant velocity joints in electric and hybrid vehicles, posing lubrication challenges but creating opportunities for innovation.
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Key players
1. SDS
2. Neapco
3. Guansheng
4. Seohan Group
5. Heri Automotive
6. American Axle & Manufacturing, Inc. (AAM)
7. Dana Incorporated
8.GKN plc
9. GSP Automotive Group Wenzhou Co., Ltd. (GSP Group)
10. Hyundai WIA Corporation
11. IFA ROTORION - Holding GmbH
12. JTEKT Corporation
13. Nexteer Automotive Group Limited
14. NTN Corporation
15. Shandong Kaifurui Auto Parts Co., Ltd. (Shandong Huifeng Group)
16. SKF AB
17. Wanxiang Group Corporation
18. Wonh Industries Co, Ltd.
19. Xiangyang Automobile Bearing Co., Ltd.
20. Zhejiang Feizhou Vehicle Industry Co., Ltd.
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Regional Analysis:
Asia Pacific: Expected to dominate the market, driven by the shift from rigid axle to front-wheel-driven vehicles and robust growth in the automotive sector.
China: Projected to lead the market growth, fueled by the demand for lightweight constant velocity joints and increasing preference for fuel-efficient vehicles.
North America and Europe: Significantly contributing to market growth, with a focus on technological advancements and compliance with emission regulations.
South America, Middle East, and Africa: Witnessing moderate growth, driven by developing economies and increasing investments in the automotive industry.
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Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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