Universal Joint Shafts Market to Incur Meteoric Growth During 2017-2027

Universal joint (U-joint, Hooke’s joint or cardan joint) is basically a joint or coupling which connects the rigid rods and is commonly utilized in the shafts that transmit the rotatory motion. Universal joint shafts are primarily utilized for transmitting torque from a driving machine to a driven machine and can accommodate a high degree of misalignment. Universal joint shafts are widely adopted in various end-use industries, such as marine, industrial machinery, automotive etc., owing to their various advantages, such as low maintenance design, which helps in reducing the operating cost. Universal joint shafts are mostly utilized in large rolling mills as they are well suited for the angularity requirements of reversing rougher mill applications.

Also, universal joint shafts are balanced dynamically in the 2 planes. This reduces noise emissions and helps the machine to run smoothly over longer spans. Universal joint shafts are made up of various components including a flange yoke, journal cross, welded yoke, tube, splined hub, hub yoke, etc.

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Global Universal Joint Shafts Market: Segmentation

The global Universal joint shafts market can be segmented on the basis of product type, end-use industry and application.

Based on the product type, the global universal joint shafts market can be segmented into:

Standard
Customized

Based on design, the global universal joint shafts market can be segmented into:

Center Sections
Flanges
Others

Based on end-use industry, the global roller screw market can be segmented into:

Automotive
Steel Manufacturing
Marine
Paper Manufacturing
Others

Based on application, the global universal joint shafts market can be segmented into:

Rolling mills
Rail vehicle drives
Paper machinery
Marine propulsion
Pumps
Construction Machinery and Cranes
Others

Global Universal Joint Shafts Market: Dynamics

Growing steel manufacturing and marine industry is significantly supporting the demand for universal joint shafts in the market. Universal joint shafts are widely adopted by end-users as they are fitted with sealed, low friction roller bearings. That apart, universal joint shafts offer various advantages as compared to gear type spindles, such as lower power loss, less consumption of lubricants, lower maintenance cost as well as life cycle cost.

Conditions in the steel industry across the globe have improved over the recent past, with indications of a return to growth in the global steel production and demand. Thus, growing demand for steel in the market is anticipated to boost the demand for universal joint shafts in near future.

Production of universal joint shafts with carbon-fiber reinforced polymer components increases the efficiency as well as performance of machines and plants. Utilization of CFRP in the construction of universal joint shafts reduces masses, vibration, deformations and power consumption of the machines. Thus, it is expected to be one of the key trends identified in the market over the forecast period.

Global Universal Joint Shafts Market: Regional Outlook

Considering regions, the universal joint shafts market is anticipated to be dominated by the Asia-Pacific region owing to rising steel production in countries, such as China, Japan, India, South Korea, etc. North America, followed by Asia Pacific, is expected to grow at a moderate rate in the market in near future. Europe is anticipated to show significant rise in demand for universal joint shafts owing to the growing marine industry in countries such as the U.K. Further, greater cooperation across marine industries and maritime services sector could lead to a rise in economic value of the region.

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Global Universal Joint Shafts Market: Market Participants

Examples of some of the market participants involved in the global universal joint shafts market include Voith GmbH, Gelenkwellenwerk Stadtilm GmbH, Elesa+Ganter, GKN plc, Elbe Holding GmbH & Co. KG, Dana Limited, Welte-Wenu GmbH and others.

Prominent manufacturers of universal joint shafts are involved in the development of advanced methods and calculations to provide optimum performance. The global universal joint shafts market is expected to be one of the most consolidated in nature as there are small number of players involved in the manufacturing.

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This release was published on openPR.