Global Automotive Drive Shaft Market Anticipated To Grow at a CAGR of 6.6% Over the Forecast Period 2016-2024

According to Goldstein Research, world automotive drive shaft market is expected to reach USD 9.4 billion by 2024 from USD 5.6 billion in 2015, growing at a compounded annual growth rate of 6.6% over the forecast period 2016-2024. The automotive drive shaft market globally is largely driven by the increasing automobile sales coupled with the rising environmental concerns related to automobiles emission all over the world. Global automotive drive shaft market report segmentation has been carried out on the basis of product type, vehicle type, and geography. Based on product types, flexible drive shaft segment accounted for largest market share and over the forecast period, it is expected to continue its dominance. Global automotive drive shaft market is majorly driven by the Asia Pacific due to increasing sales of automobiles at a high rate in the region. China and India are the top countries in terms of the number of vehicles sold. APAC is closely followed by Europe. Whereas, the automobile industry in North America has reached to its maturity thus resulting in slow growth of automotive drive shaft market in North America.

Market Segmentation

On the basis of our in-depth analysis, Global Automotive Drive Shaft Market can be segmented as follows:

  • By Product Types
    • Flexible Drive-Shaft
    • Torque Tube Drive-Shaft
    • Hotchkiss Drive-Shaft
  • By Vehicle Type
    • Passenger Cars
    • LCV (Light Commercial vehicles)
    • HCV (Heavy Commercial vehicles)
  • By Region
    • North America (US, Canada) {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
    • Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
    • Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
    • Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
    • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
    • Rest of the World {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}

 

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Market, Trends, & Challenges

Global Automotive Drive Shaft Market Outlook 2024” contains a detailed overview of the global automotive drive shaft market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by product type and vehicle type.

Further, for the in-depth analysis, Automotive Drive Shaft Industry Analysis encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such asGKN PLC, NTN, Dana Holding Corporation, Nexteer, Hyundai-Wia, Yamada Manufacturing, American Axle Manufacturing Inc., JTEKT, Neapco, Meritor, Showa, SDS, Yuandong, Wanxiang, Guansheng, Lingyun, Hengli, Danchuan, IFA Rotorion,etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments. Overall, the report represents the global automotive drive shaft market trends along with the market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

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