Drive Shaft Market Size, Share, Industry Analysis, Trends, Growth, Forecasts, 2032

According to the report published by Zion Market Research, the global Drive Shaft Market size was valued at USD 43.22 Billion in 2023 and is predicted to reach USD 71.17 Billion by the end of 2032. The market is expected to grow with a CAGR of 5.70% during the forecast period. The report analyzes the global Drive Shaft Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Drive Shaft Market industry.

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Drive Shaft Market: Overview

A drive shaft or propeller shaft is a part of a vehicle or automobile which usually takes energy from the engine and carries to the wheels. The drive shaft should be sturdy enough to take up the torque of the engine and insubstantial to decrease the complete whole weight of the vehicle. A drive shaft should be absolutely balanced and should turn equal to the torque which is coming out of the engine and the conduction for a smooth driveline presentation. In the current times, the majorities of the automobiles are usually frontage wheel drive. Soothe drive shafts are among the transaxle and every frontage wheel. In rear wheel automobiles, the drive shaft is among the rear axle and every rear wheels. Drive shaft should be strong and firm as it has to put up with the huge torque created by the engine. Drive shafts are utilized in passed on to power from the engine to the wheels with the help of mechanical linkages.

Drive Shaft Market: Growth Factors

Owing to rising concerns about fuel effectiveness, manufacturers are more alert on increasing lightweight driveshaft with no conciliation on its presentation and rigidness. Increase in the development of automobile sector worldwide is indirectly increasing the development in the market for drive shaft since drive shafts are necessary in all automobiles to provide energy to wheels. With the increase of four-wheelers, drive vehicles is also growing the demand for the global drive shaft market. They are utilized in motorcycles as they are maintenance-free and have a long life as compared to chain drive. Some of the most important drivers controlling the drive shaft market worldwide are the increase in the number of global automobile manufacture and the rising demand for lightweight drive shafts that will help in better fuel competence. Some of the most important restraints of the global drive shaft market are high variations of the material cost which affects in the production of lightweight drive shaft.

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Drive Shaft Market: Segmentation

The global market for the Drive Shaft is fragmented into its shaft type, material type, design type, position and vehicle type.

On the basis of shaft type, the market is classified into torque tube drive shaft, flexible drive shaft, and hotchkiss drive shaft.

Based on the material type, the market is divided by steel, aluminum, and other material types.

On the basis of design type, the market is categorized into hollow drive shafts and solid drive shafts.

Based on the position, the market is classified into rear wheel drive shaft and front wheel drive shaft.

On the basis of vehicle type, the market is divided into light commercial vehicle, passenger cars, and heavy commercial vehicles.

Drive Shaft Market : Report Scope

Drive Shaft Market: Regional Analysis

Geographically, Asia Pacific is anticipated to continue its control over the automotive drive-shaft market due to increasing growing sales of automobiles in the area. Development of automobile industry is mainly driven by the countries such as India and China. Asia Pacific region is strongly followed by the Europe with augmented sales of automobile in the past years. North America is considered as the developed market in terms of automobile industry and reasonable in the coming years. However, important development can be seen in aftermarket sales of carbon combination drive shafts due to high income disposable and huge expenses over the customization of vehicles.

Drive Shaft Market: Competitive players

The key players of the global drive shaft market are:

• GKN PLC.
• American Axle Manufacturing Inc.
• Dana Incorporated
• Xuchang Yuangdong
• Neapco Holdings, LLC
• The Timken Company.

The Global Drive Shaft Market is segmented as follows:

By Shaft type 

• torque tube drive shaft 
• flexible drive shaft 
• hotchkiss drive shaft 

By Material type 

• steel, aluminum 
• other material types 

By Design type 

• hollow drive shafts
• solid drive shafts 

By Position 

• rear wheel drive shaft 
• front wheel drive shaft 

By Vehicle Type 

• light commercial vehicle 
• passenger cars
• heavy commercial vehicles

Global Drive Shaft Market: Regional Segment Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.