LONDON, May 21, 2015 /PRNewswire/ -- According to China Automotive Drive Shaft Market Report, 2014, Chinese automotive drive shaft market will keep an average growth rate of 8.29% in 2014-2017, and the market demand will reach 61.04 million units in 2017.
Drive shafts are the parts of automobiles and construction machinery, on the demand of which the prosperity index and development scale of automotive and engineering machinery have a direct bearing. In 2013, China needed 44.38 million automotive drive shafts, of which 81.5% came from passenger cars whose base was huge. If coupled with the demand from construction machinery, China's demand for drive shafts would reach 46.26 million units in 2013.
The highly-concentrated Chinese automotive drive shaft market presents the following competition pattern: a few powerful transmission shaft manufacturers occupy the main engine supporting market; the majority of the remaining enterprises with small scale, weak technical strength and low brand awareness dominate partial low-end main engine supporting market and maintenance services market by virtue of low prices, playing a passive role in competition. Wanxiang Qianchao, Shanghai GKN Drive Shaft and Xuchang Yuandong Drive Shaft accounted for 56.25% of the total drive shaft sales volume together in 2013, and the share is expected to be as high as 55% or so in 2014.
Xuchang Yuandong Drive Shaft is engaged in R & D, production and marketing of non-isokinetic drive shafts with the annual output of 3.6 million sets of such shafts boasting the most diversified types and the most comprehensive specifications in China.
In 2013, the sluggish Chinese commercial vehicle and construction machinery market boosted Xuchang Yuandong Drive Shaft to step in the field of mini-car and passenger car transmission shafts, stimulating the substantial growth in shaft sales volume. Meanwhile, the shaft revenue of the company ascended 44.59% year on year to RMB937.65 million. In the next few years, the company's performance will maintain steady growth in the wake of its exploration in the passenger car market.
The report mainly contains 5 chapters and 90 charts, stating China's overall economic situation, the overview of China's automobile industry, automotive drive shaft market demand (including import & export), and the competitive landscape of the automotive drive shaft market, as well as introducing the revenue, transmission shaft production and marketing, capacity and production bases of 20 global and Chinese major automotive drive shaft manufacturers.
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