Our latest research report entitled Cardan Shaft Market (by product type (small, medium, and heavy-duty), end-user industry (automotive, machinery & equipment, manufacturing, and others)) provides complete and deep insights into the market dynamics and growth of Cardan Shaft.
The latest information on market risks, industry chain structure Cardan Shaft cost structure, and opportunities are offered in this report. The past, present, and forecast market information will lead to investment feasibility by studying the essential Cardan Shaft growth factors.
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Growing Automotive Sales Across the Globe Drive the Growth
Cardan shaft is a mechanical component used as a transmission element in the automotive, manufacturing, and machinery and equipment industries. Apart from that, Cardan shafts are also used in marine applications between the transmission and either a propeller gearbox.
Cardan shafts commonly integrate one or more universal joints, rag joints or jaw couplings, and sometimes a splined joint or prismatic joint. Aluminum, steel, and carbon fiber reinforced plastic (CFRP) are raw materials used for the manufacturing of Cardan shafts. Cardan shaft is categorized into different sizes including small, medium, heavy, and extra heavy.
Cardan shaft is a major component in the automotive industry. Growing automotive sales across the globe drive the growth of the Cardan shaft market. As per the European Automobile Manufacturers Association, it is estimated that 98.9 million motor vehicles were produced globally in 2017.
Besides that, the Cardan shaft is widely used in construction, agricultural machinery. Apart from this, recent investment by established automakers is another factor escalating the growth of the Cardan shaft market. However, fluctuation in raw material prices could hamper the growth of the Cardan shaft market.
Furthermore, growing needs for more compact, more efficient drive components have been mounting to reduce fuel consumption in addressing environmental conservation. Thus, Cardan shafts need to be light in weight hence the demand for lightweight Cardan shafts has augmented, which in turn, creating growth opportunities for the Cardan shaft market. Moreover, stringent norms posed by the international emission control authorities have encouraged the manufacturers to make lightweight driveshafts by using aluminum in the place of steel.
The Asia Pacific Held the Maximum Share
Geographically, Asia Pacific held the maximum share in the Cardan shaft market. The growth in the Asia Pacific region is due to the emergence of rapidly growing economies such as China, South Korea, India, Japan, Thailand, and Indonesia. Environment Protection Authority policies and stringent Corporate Average Fuel Economy regulations forced the automotive manufacturers to reduce the weight of the vehicles to reduce fuel consumption and emission. Moreover, the increasing investment in the automobile industry, especially in countries such as China is escalating the growth of the Cardan shaft market in the Asia Pacific region.
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Report on Global Cardan Shaft Market Covers Segments Such as Product Type and End-User Industry
On the basis of product type, the sub-markets include small, medium, and heavy-duty. On the basis of the end-user industry, the sub-markets include automotive, machinery & equipment, manufacturing, and others.
The report provides profiles of the companies in the market such as Altra Industrial Motion Corp., Gelenkwellenwerk Stadtilm GmbH, Xuchang Yuandong Drive Shaft Co., Ltd., GSP Group, Showa Corporation, Wanxiang Qianchao Group, JTEKT Corporation, Neapco Inc, Meritor, Inc., Dana Incorporated, and GKN Plc.
Browse Detailed TOC, Description, and Companies Mentioned in Report @ https://www.infiniumglobalresearch.com/industry-automation/global-cardan-shaft-market
Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Cardan Shaft.
- 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.