The latest report on Automotive Drive Shafts Market by Infinium Global Research gives complete coverage of the automotive drive shafts market by shaft type (Hotchkiss drive shaft type, flexible drive shaft type and torque tube drive shaft type), vehicle type (passenger vehicles, commercial vehicles, and electric vehicles) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and application trends in the regional markets of automotive drive shafts such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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The Main Advantage of Drive Shaft is That it is Less Likely to Become Jammed.
An Automotive drive shaft, also called a propeller shaft or prop shaft is a component of the drive train in a vehicle, that is used with the purpose of delivering torque from the transmission to the differential, which then transmits this torque to the wheels in order to move the vehicle. The driveshaft is primarily used to transfer torque between components that are separated by a distance since different components must be in different locations in the vehicle.
These driveshafts are made up of aluminum, steel, and carbon fiber. Short drive shafts are commonly used to send power from a central differential, transmission, or transaxle to the wheels. The main advantage of the drive shaft is that it is less likely to become jammed. Driveshafts are used differently in different vehicles, varying greatly in cars with distinct configurations for front-wheel drive, four-wheel drive, and the previously mentioned front-engine rear-wheel drive. Other vehicles also use drive shafts, like motorcycles, locomotives, and marine vessels.
In addition, the growing concern for fuel efficiency and the stringent norms posed by the international emission control authorities have motivated the manufacturers to develop lightweight driveshafts without negotiating on their performance and rigidness.
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Demand for Automotive Drive Shafts Has Increased, That in Turn, is Fuelling the Growth of The Automotive Drive Shafts Market
Moreover, the drive shafts need to be light in weight hence the demand for automotive drive shafts has increased, that in turn, is fuelling the growth of the automotive drive shafts market. Moreover, fluctuation in the prices of raw materials is the factors restraining the growth of the automotive drive shafts market during the forecast period. Furthermore, an increase in demand for passenger vehicles is anticipated to create growth opportunities in the upcoming years.
Among the geographies, Asia Pacific dominated the automotive drive shafts market. The growth in the Asia Pacific region is due to the emerging economies of India, China, and Japan. EPA (Environment Protection Authority) policies and stringent CAFÉ (Corporate Average Fuel Economy) regulations forced automotive manufacturers to reduce the weight of the vehicles to reduce emissions and fuel consumption. Moreover, the increasing investment in the automobile industry, especially in countries such as China, is anticipated to boost the growth in the automotive drive shafts market. The global production of passenger cars alone has increased from 40.1 million in 2001 to 73.45 million in 2017, and that of overall vehicles was around 97.30 million in 2017.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the automotive drive shafts.
- Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.