Press release
Constant Velocity Universal Joint Research:CAGR of 2.9% during the forecast period
The global market for Constant Velocity Universal Joint was estimated to be worth US$ 5848 million in 2024 and is forecast to a readjusted size of US$ 7146 million by 2031 with a CAGR of 2.7% during the forecast period 2025-2031.
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Constant Velocity Universal Joint Market Summary
Constant-velocity joints (CV joints) allow a drive shaft to transmit power through a variable angle, at constant rotational speed, without an appreciable increase in friction or play. All front-wheel drive cars have Constant Velocity joints or CV joints on both ends of the drive shafts (half shafts). Inner CV joints connect the drive shafts to the transmission, while the outer CV joints connect the drive shafts to the wheels. Many rear-wheel drive and four-wheel drive cars as well as trucks also have CV joints. Constant velocity universal joint is also called half shaft constant velocity joint, side shaft constant velocity joint.
Recovery in Global Vehicle Production: After the disruptions caused by the COVID-19 pandemic, the automotive sector is witnessing significant recovery in vehicle production. Increased production directly correlates to a higher demand for critical components like CV joints, especially for internal combustion engine (ICE) and electric vehicles (EVs).
Rising Vehicle Sales in Emerging Markets: Emerging economies such as China, India, and Southeast Asia are seeing a growing middle class with higher purchasing power. This expanding consumer base leads to increased vehicle sales and, in turn, drives demand for CV joints in both OEM (Original Equipment Manufacturer) and aftermarket segments.
Shift to Electric Powertrains: The rise in demand for electric and hybrid vehicles is significantly affecting the CV joint market. Electric drivetrains, which often have higher torque demands compared to traditional internal combustion engines, require robust and efficient CV joints capable of withstanding these stresses.
Growth in Hybrid and All-Wheel-Drive (AWD) EVs: Many electric vehicle models, particularly those in the luxury and performance segments, come with AWD systems, requiring specialized CV joints to manage torque distribution effectively. The expansion of EVs, especially in markets like Europe and North America, will continue to drive CV joint demand.
Increasing Average Vehicle Age: In regions like North America and Europe, the average age of vehicles on the road is rising. Older vehicles require replacement parts, including CV joints, which drives the growth of the aftermarket segment. This trend is compounded by increasing vehicle repair and maintenance costs, with consumers opting to repair older vehicles rather than buy new ones.
Do-It-Yourself (DIY) Culture: The rise of online platforms for vehicle parts has empowered DIY mechanics and small repair shops, contributing to growth in the aftermarket. As consumers increasingly rely on e-commerce to purchase auto parts, the aftermarket for CV joints has seen significant expansion, particularly in developed markets.
Expansion of Auto Parts Distribution Networks: A growing number of online platforms and retail stores are providing easy access to auto parts, including CV joints. The increased availability of aftermarket parts boosts overall demand.
According to the new market research report "Global Constant Velocity Universal Joint Market Report 2025-2031", published by QYResearch, the global Constant Velocity Universal Joint market size is projected to reach USD 7.15 billion by 2031, at a CAGR of 2.9% during the forecast period.
Global Constant Velocity Universal Joint MarketSize(US$ Million), 2020-2031
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Above data is based on report from QYResearch: Global Constant Velocity Universal Joint Market Report 2024-2030 (published in 2024). If you need the latest data, plaese contact QYResearch.
Global Constant Velocity Universal Joint Top13Players Ranking and Market Share (Ranking is based on the revenue of 2024, continually updated)
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Above data is based on report from QYResearch: Global Constant Velocity Universal Joint Market Report 2024-2030 (published in 2024). If you need the latest data, plaese contact QYResearch.
According to QYResearch Top Players Research Center, the global key manufacturers of Constant Velocity Universal Joint include GKN, NTN, SDS, Nexteer, Korea Movenex, Hyundai WIA, Wanxiang, GSP Automotive Group, Neapco, JTEKT, etc. In 2024, the global top five players had a share approximately 68.0% in terms of revenue.
Constant Velocity Universal Joint,Global Market Size, Split by Product Segment
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Based on or includes research from QYResearch: Global Constant Velocity Universal Joint Market Report 2024-2030.
In terms of product type, currently Outboard Joints is the largest segment, hold a share of 52.4%.
In terms of product application, currently OEM is the largest segment, hold a share of 91.8%.
The report provides a detailed analysis of the market size, growth potential, and key trends for each segment. Through detailed analysis, industry players can identify profit opportunities, develop strategies for specific customer segments, and allocate resources effectively.
The Constant Velocity Universal Joint market is segmented as below:
By Company
GKN
NTN
SDS
Nexteer
Korea Movenex
Hyundai WIA
Wanxiang
GSP Automotive Group
Neapco
JTEKT
SKF
IFA Group
Xiangyang Automobile Bearing
Segment by Type
Outboard Joints
Inboard Joints
Segment by Application
OEM
Aftermarket
Each chapter of the report provides detailed information for readers to further understand the Constant Velocity Universal Joint market:
Chapter 1: Introduces the report scope of the Constant Velocity Universal Joint report, global total market size (valve, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry. (2020-2031)
Chapter 2: Detailed analysis of Constant Velocity Universal Joint manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc. (2020-2025)
Chapter 3: Provides the analysis of various Constant Velocity Universal Joint market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments. (2020-2031)
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.(2020-2031)
Chapter 5: Sales, revenue of Constant Velocity Universal Joint in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world..(2020-2031)
Chapter 6: Sales, revenue of Constant Velocity Universal Joint in country level. It provides sigmate data by Type, and by Application for each country/region.(2020-2031)
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc. (2020-2025)
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.
Benefits of purchasing QYResearch report:
Competitive Analysis: QYResearch provides in-depth Constant Velocity Universal Joint competitive analysis, including information on key company profiles, new entrants, acquisitions, mergers, large market shear, opportunities, and challenges. These analyses provide clients with a comprehensive understanding of market conditions and competitive dynamics, enabling them to develop effective market strategies and maintain their competitive edge.
Industry Analysis: QYResearch provides Constant Velocity Universal Joint comprehensive industry data and trend analysis, including raw material analysis, market application analysis, product type analysis, market demand analysis, market supply analysis, downstream market analysis, and supply chain analysis.
and trend analysis. These analyses help clients understand the direction of industry development and make informed business decisions.
Market Size: QYResearch provides Constant Velocity Universal Joint market size analysis, including capacity, production, sales, production value, price, cost, and profit analysis. This data helps clients understand market size and development potential, and is an important reference for business development.
Other relevant reports of QYResearch:
Global Constant Velocity Universal Joint Market Insights, Forecast to 2031
Global Constant Velocity Universal Joint Sales Market Report, Competitive Analysis and Regional Opportunities 2025-2031
Global Constant Velocity Universal Joint Market Research Report 2025
Global Constant Velocity Universal Joint Market Size, Manufacturers, Supply Chain, Sales Channel and Clients, 2025-2031
Constant Velocity Universal Joint- Global Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031
Global Constant Velocity Universal Joint And Assembly Sales Market Report, Competitive Analysis and Regional Opportunities 2025-2031
Constant Velocity Universal Joint And Assembly- Global Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031
Global Constant Velocity Universal Joint And Assembly Market Research Report 2025
Global Vehicle Constant Velocity Universal Joint (CVJ) Sales Market Report, Competitive Analysis and Regional Opportunities 2025-2031
Vehicle Constant Velocity Universal Joint (CVJ)- Global Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031
Global Vehicle Constant Velocity Universal Joint (CVJ) Market Research Report 2025
Global Constant Velocity Universal Joint Industry Research Report, Growth Trends and Competitive Analysis 2024-2030
Global Constant Velocity Universal Joint Market Size, Manufacturers, Supply Chain, Sales Channel and Clients, 2024-2030
Global Constant Velocity Universal Joint Market Insights, Forecast to 2030
Constant Velocity Universal Joint - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030
Global Constant Velocity Universal Joint Market Research Report 2024
Global Constant Velocity Universal Joint And Assembly Market Research Report 2024
Global Vehicle Constant Velocity Universal Joint (CVJ) Market Insights, Forecast to 2030
Global Vehicle Constant Velocity Universal Joint (CVJ) Market Research Report 2024
Vehicle Constant Velocity Universal Joint (CVJ) - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030
About Us:
QYResearch founded in California, USA in 2007, which is a leading global market research and consulting company. Our primary business include market research reports, custom reports, commissioned research, IPO consultancy, business plans, etc. With over 18 years of experience and a dedicated research team, we are well placed to provide useful information and data for your business, and we have established offices in 7 countries (include United States, Germany, Switzerland, Japan, Korea, China and India) and business partners in over 30 countries. We have provided industrial information services to more than 60,000 companies in over the world.
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