NEW YORK, Dec. 24, 2015 /PRNewswire/ -- Drive shafts transfer the required amount of power from the engine to the wheels of a vehicle and offer a dynamic connection between the wheels and the engine. It helps in providing better driving performance with least vibrations in the suspension system, thereby enhancing its Noise, Vibration, and Harshness (NVH) characteristics. It also helps in improving fuel efficiency and accommodates for the steering characteristics.
This report covers the Global Automotive Drive shaft Market, which has been broadly segmented by region into Asia-Oceania, Europe, North America, and RoW, focusing on key countries in each region. The market is further segmented by drive shaft type into rigid, and hollow; by vehicle type into passenger cars (PC), and light commercial vehicles (LCV); by position into front and rear.
The global automotive sideshaft market size is projected to reach USD 7.24 billion by 2020, at a CAGR of 6.37% between 2015 and 2020. The largest vehicle producer, Asia-Oceania is expected to grow at a CAGR of 6.62% in terms of value, during the forecast period.
Changing consumer needs, such as better vehicle performance requirements, improved fuel economy, enhanced driving experience, and growing stringency of carbon emission regulations and norms have led to tremendous changes and developments in drive shafts. While fuel efficiency is the major driver for the growth of automotive drive shafts, other factors, such as customer demand for comfort, driving habits, and initial cost are also affecting the market growth. On the other hand, to meet stringent carbon emission norms, automakers and suppliers are investing heavily in the research & development activities to improve vehicle performance, which is also helping the improvement of sideshafts.
This report classifies and defines the global automotive drive shaft market. It also provides qualitative insights about the automotive drive shaft market. It provides an analysis of the drivers, restraints, opportunities, challenges, and the key issues in the global automotive drive shaft market. Key players in the market have also been identified and profiled.
SCOPE OF THE REPORT
The global automotive drive shaft market is analyzed in terms of volume ('000 units) and value (USD million) for the mentioned segments.
- By Region
o North America
- By Type
o Hollow drive shaft
o Rigid drive shaft
- By Vehicle Type
o Passenger Cars
o Others* (Includes sportscars, coupes, convertibles, among others)
o Light Commercial Vehicles
- By Position
o Front drive shaft
o Rear drive shaft
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