Automotive Drive Shafts Market Size, Share, Industry Analysis, Trends, Growth, Forecasts, 2032

According to the report published by Zion Market Research, the global Automotive Drive Shafts Market size was valued at USD 69.63 Billion in 2023 and is predicted to reach USD 123.78 Billion by the end of 2032. The market is expected to grow with a CAGR of 6.60% during the forecast period. The report analyzes the global Automotive Drive Shafts 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 Automotive Drive Shafts Market industry.

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Global Automotive Drive Shafts Market: Overview

Automotive drive shafts are motorized elements employed for transporting torque to the one end of the vehicle from the engine prior to it reaches the wheels. These elements are made up of aluminum, steel, and carbon fiber. They are made of aluminum and are sturdy and light simultaneously that allows the drive shafts to be balanced. This produces more speed for rotating and also lowers the general weight of the car. Aluminum driveshafts make the overall weight of the car light and allow the vehicle to use less fuel. Aluminum driveshafts are produced more rotating speed and also more balanced.

Steel drive shafts need a lot of horsepowers to rotate & transport torque and are very heavy. It makes the general weight of the vehicle very weighty, needing additional fuel to operate. This overall property of different types of shafts drives the growth of the global automotive drive shafts market.

Global Automotive Drive Shafts Market: Growth Factors

The main boosters of the global automotive drive shafts market have been verified to be the depreciation of drive shafts and increment in making of vehicles whose replacement is backed by an efficient segment of “after sales” services. The global automotive drive shafts market is in a reviving stage and is hoped to display pledging performance in the near future. APAC is the biggest maker of automotive and is expected to uphold the supremacy of global automotive drive shafts market in the near future. In late years, the APAC sector has seen the distinguished performance in terms of the development of its automotive parts and automobile industry as well as its GDP.

Employment of electric cars, on the other hand, is anticipated to lower the requirement for drive shafts since they operate on battery, which is charged by electricity. Hence, this factor is expected to pull down the development of the global automotive drive shafts market.

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Global Automotive Drive Shafts Market: Segmentation

The global Automotive Drive Shafts Market is divided in terms of vehicle type, shaft type and position type.

On the basis of vehicle type, the global automotive drive shafts market is classified into heavy commercial vehicles, passenger cars, light commercial vehicles, and others.

Based on shaft type, the global automotive drive shafts market is divided into flexible drive shaft, hotchkiss drive shaft, torque tube drive shaft, and others.

On the basis of position type, the global automotive drive shafts market is segmented into rear wheel drive shaft and front wheel drive shaft.

Automotive Drive Shafts Market : Report Scope

Global Automotive Drive Shafts Market: Regional Analysis

The global automotive drive shafts market is expected to grow in the Asia Pacific region. The area comprises developing nations such as India, China, South Korea, and Japan. Majority of the worldwide vehicle manufacture takes place in this area. Users demand an reduced emissions and enhanced fuel economy in the wake of increasing pollution levels. This, in turn, drives the growth of the global automotive drive shafts market.

Global Automotive Drive Shafts Market: Competitive Players

Major firms operating in the global automotive drive shafts market are:

• American Axle Manufacturing Inc.
• GKN PLC.
• Xuchang Yuangdong
• Dana Incorporated
• The Timken Company
• Neapco Holdings, LLC.
• IFA Rotorion
• Nexteer Automotive
• Yamada Manufacturing
• Wilson drive shafts among others.

The Global Automotive Drive Shafts Market is segmented as follows:

By Vehicle type 

• heavy commercial vehicles 
• passenger cars
• light commercial vehicles 
• and others

By Shaft type 

• flexible drive shaft 
• hotchkiss drive shaft 
• torque tube drive shaft 
• and others 

By Position type 

• rear wheel drive shaft
• front wheel drive shaft

Global Automotive Drive Shafts Market: Regional Segment Analysis

• North America
  • The U.S.
• Europe
  • The UK
  • France
  • Germany
• The 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.