Press release
Top Factor Driving Automotive Drive Shaft Market Growth in 2025: Surging Electric Vehicle Sales Fueling The Automotive Drive Shaft Market
Automotive Drive Shaft Market Share
The rise in sales of electric vehicles is predicted to bolster the expansion of the automotive drive shaft market. An electric vehicle is defined as a mode of transport that exclusively or partially utilizes electrical energy from a battery that must be recharged. The drive shaft is an integral mechanical element of a vehicle that facilitates the synchronized transmission of the engine gearbox's torque to the wheels, ensuring smooth vehicle movement. As per a report by The Economics Times, an Indian-based publication in February 2022, an estimated 6.5 million electric vehicles were sold in 2021 which include both fully and partially electric vehicles. Consequently, the escalating sales of electric vehicles are expected to fuel the growth of the automotive drive shaft market.
Get Your Automotive Drive Shaft Market Report Here:
https://www.thebusinessresearchcompany.com/report/automotive-drive-shaft-global-market-report
What Is the projected market size and growth rate for the automotive drive shaft market?
The size of the automotive drive shaft market has seen significant expansion in the preceding years. The market value is expected to rise from $18.08 billion in 2024 to $19.12 billion in 2025, with a compound annual growth rate (CAGR) of 5.8%. The growth during the historical period can be credited to factors such as increased demand for vehicles, legislative controls and safety norms, shifting customer tastes and choices, variations in fuel costs, and the rising trend of ride-sharing services.
In the coming years, the automotive drive shaft market is anticipated to witness robust growth. The market is projected to expand to $24.87 billion by 2029, at a compound annual growth rate (CAGR) of 6.8%. This expected increase can be attributed to factors such as the reduction of weight in vehicles, the escalating use of drive shafts in passenger cars, surges in utility vehicle sales, a heightened focus on sustainability and carbon emission reduction, and the rise of electric and hybrid vehicles. Significant trends during the forecast period will encompass the use of carbon fiber drive shafts, the incorporation of high-tech sensors, adaptable and modular designs, the electrification of driving systems, and durable, maintenance-free solutions.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7101&type=smp
What new trends are reshaping the automotive drive shaft market and its opportunities?
The emphasis on innovative product development is becoming a prominent trend in the automotive drive shaft market. Companies entrenched in the automotive drive shaft industry are buckling down on pioneering product enhancements and solutions to fortify their market stance. An example of this is the January 2023 release by Harmonic Drive, an American company specializing in precision servo actuators, gearheads, and gear component sets, of their High-Performance Hollow Shaft Gear Unit. These state-of-the-art gear units, designed specifically for heavy industrial use, boast high torque outputs and versatile installation capabilities, making them perfectly suited for challenging environments. Their hollow shaft gear units, the HPF series, deliver exceptional torque density, precise positioning, and are perfect for a variety of industrial applications such as robotics, packaging, and material handling. The performance of these gear units in terms of torque is substantial, with continuous torque ratings reaching up to 1000 Nm and peak torque ratings hitting as much as 1500 Nm.
What major market segments define the scope and growth of the automotive drive shaft market?
The automotive drive shaft market covered in this report is segmented -
1) By Product Type: Rigid Side shaft, Hollow Side shafts
2) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle
3) By Drive Type: Front Wheel Drive, Rear Wheel Drive, Other Drive Types
4) By Material: Aluminum, Steel, Carbon Fiber
Subsegments:
1) By Rigid Side Shaft: Solid Rigid Shaft, Fixed Length Rigid Shaft
2) By Hollow Side Shaft: Lightweight Hollow Shaft, Multi-Piece Hollow Shaft
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=7101
Which region dominates the automotive drive shaft market?
Asia-Pacific was the largest region in the automotive drive shaft market in 2024, and it is also expected to be the fastest-growing region in the automotive drive shaft market during the forecast period. The regions covered in the automotive drive shaft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the automotive drive shaft industry growth?
Major companies operating in the automotive drive shaft market include GKN Automotive Limited, JTEKT Corporation, American Axle & Manufacturing Inc., Dana Incorporated, Hyundai Wia Corporation, Nexteer Automotive Group Ltd., Showa Corporation, Yamada Manufacturing Co Ltd., Wanxiang Qianchao Co Ltd., NTN Corporation, IFA Rotorion Holding GmbH, Meritor Inc., ZF Friedrichshafen AG, Gestamp Automoción S. A., Neapco Holdings LLC, GSP Automotive Group, Powertrain Industries Inc., The Timken Company, Dorman Products Inc., Precision Shaft Technologies, Bailey Morris Limited, Gelenkwellenwerk Stadtilm GmbH, Walterscheid Powertrain Group, PTI Technologies Inc., RSB Group, Sona Group, Spicer India Private Limited, Talbros Engineering Limited, Visteon Corporation, Xuchang Yuandong Drive Shaft Co Ltd.
Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/customise?id=7101&type=smp
What Is Covered In The Automotive Drive Shaft Global Market Report?
•Market Size Forecast: Examine the automotive drive shaft market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the automotive drive shaft market for a structured understanding.
•Key Players Overview: Analyze major players in the automotive drive shaft market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive drive shaft market.
•Segment Contributions: Evaluate how different segments drive overall growth in the automotive drive shaft market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive drive shaft market.
•Industry Challenges: Identify potential risks and obstacles affecting the automotive drive shaft market.
•Competitive Landscape: Review strategic developments in the automotive drive shaft market, including expansions, agreements, and new product launches.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Top Factor Driving Automotive Drive Shaft Market Growth in 2025: Surging Electric Vehicle Sales Fueling The Automotive Drive Shaft Market here
News-ID: 3881480 • Views: …
More Releases from The Business Research Company
Company Registration Service Market Landscape 2025: Forecast Data and Growth Str …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Company Registration Service Market Through 2025?
The market size for company registration services has seen robust growth in the recent past. The market is projected to expand from $10.67 billion in 2024 to $11.55 billion in 2025, exhibiting a compound annual growth…
Comprehensive 2025 Commercial Toilet Partition Market Overview: Trends, Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Toilet Partition Market Through 2025?
In recent years, the market size for commercial toilet partitions has significantly expanded. The forecast predicts a rise from $1.82 billion in 2024 to $1.95 billion in 2025, with a compound annual growth rate (CAGR) of…
Key Trends Influencing the Growth of the Commercial Insurance For Small And Medi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Insurance For Small And Medium-Sized Enterprises (SMEs) Market Through 2025?
The market size of commercial insurance for small and medium-sized enterprises (SMEs) has seen substantial growth over the recent years. A rise from $111.83 billion in 2024 to $119.76 billion in…
Growing Focus On Reducing Greenhouse Gas Emissions Driving The Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Combustion Emissions Analyzer Market Through 2025?
In the past few years, the market size for combustion emissions analyzer has seen robust growth. It is projected to increase from $1.02 billion in 2024 to $1.09 billion in 2025, with a compound annual growth…
More Releases for Shaft
Marine Shaft Power Meter Market Size Analysis by Application, Type, and Region: …
According to Market Research Intellect, the global Marine Shaft Power Meter market under the Aerospace and Defense category is expected to register notable growth from 2025 to 2032. Key drivers such as advancing technologies, changing consumer behavior, and evolving market dynamics are poised to shape the trajectory of this market throughout the forecast period.
The marine shaft power meter market is experiencing steady growth due to the increasing need for fuel…
Wind Turbine Drive Shaft Market
The "Wind Turbine Drive Shaft Market" is expected to reach USD xx.x billion by 2031, indicating a compound annual growth rate (CAGR) of xx.x percent from 2024 to 2031. The market was valued at USD xx.x billion In 2023.
Growing Demand and Growth Potential in the Global Wind Turbine Drive Shaft Market, 2024-2031
Verified Market Research's most recent report, "Wind Turbine Drive Shaft Market: Global Industry Trends, Share, Size, Growth, Opportunity and…
Aircraft Drive Shaft Market is Thriving Worldwide
A drive shaft is a mechanical part which is used for the transmission of torque to the driven components. The aircraft drive shaft is integrated with one or multiple couplings (universal joints) for the proper alignment between the driving and driven components of an aircraft. Therefore, the drive shaft combined with proper coupling helps in the transmission of motion from driving assembly to the driven assembly in the aircraft. The…
Automotive Axle & Propeller Shaft Market : Single Piece Propeller Shaft to Surpa …
The global automotive axle & propeller shaft market was valued at $29.3 billion in 2020, and is projected to reach $45.3 billion by 2030, growing at a CAGR of 4.61% from 2021 to 2030.
Asia-Pacific is expected to dominate the automotive axle & propeller shaft market owing to increase in demand for passenger vehicles from China, Japan, and India. In January 2021, vehicle sales in China experienced rise of 29.5% as…
Automotive Axle & Propeller Shaft Market : Live Axle, Dead Axle, Tandem Axle, Si …
The automotive axle & propeller shaft market was valued at $29.3 billion in 2020, and is estimated to reach $45.3 billion by 2030, growing at a CAGR of 4.6% from 2021 to 2030.
Asia-Pacific is expected to dominate the automotive axle & propeller shaft market owing to increase in demand for passenger vehicles from China, Japan, and India. In January 2021, vehicle sales in China experienced rise of 29.5% as compared…
Automotive Balance Shaft Market - Global Industry Analysis
Automotive Balance Shaft Market was valued $10,489.0 million in 2020 and is projected to reach $16,691.3 million in 2030, registering a CAGR of 4.9%.
Balance shaft is a weighted shaft utilized for offsetting the vibrations in vehicle engine. A balance shaft system comprises two shafts having equal eccentric weights and revolves in opposite directions with twice the engine speed. The centrifugal forces generated by shafts cancel out…
