Drive Shaft Market Growing at 6.37% CAGR to 2020

Aug 20, 2015, 12:45 ET from RnR Market Research

PUNE, India, August 20, 2015 /PRNewswire/ --

Global automotive drive shaft market size is forecast to be worth USD 7.24 billion by 2020, at a CAGR of 6.37% between 2015 and 2020. Regionally, Asia-Oceania is expected to grow at a CAGR of 6.62% in terms of value, during the forecast period.

Complete report on drive shaft market spread across 180 pages, profiling 10 major companies as well as supported with 89 tables and 67 figures is now available at .

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 shaft market. While fuel efficiency is the major driver for the growth of automotive drive shafts market, 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 side shafts.

Following stringent emissions and fuel efficiency regulations in developed regions, the penetration of hollow drive shafts is estimated to be higher in North America and Europe. The market is further estimated to increase with rising production levels after the economic downturn. Given the customer-preferences for fuel efficiency, the regional adoption is varied in these regions. North America is projected to witness a higher demand for hollow drive shafts by 2020, given the growing demand for fuel-efficient and low-emission vehicles in this region. The high rate of technological adoption in these regions is also a driving factor for growth of this market.

Companies profiled in this drive shaft market research include GKN PLC, Nexteer Automotive Group Limited, NTN Corporation, American Axle & Manufacturing Holdings, Inc., Hyundai WIA Corporation, Neapco Holdings LLC, IFA Rotorion - Holding GmbH, Trelleborg AB, NKN, Ltd. and Yamada Manufacturing Co., Ltd. Order a copy of Drive Shaft Market by Type (Rigid & Hollow Drive Shaft), Position (Rear & Front Drive Shaft), Vehicle Type (Passenger Car (Hatchback, Sedan, SUV/MUV/MPV, Others) & LCV), & by Region - Global Forecast and Trends to 2020 research report at .

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. 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 Asia-Oceania region includes developing countries, such as China, India, Japan, and South Korea. Majority of the global vehicle production is concentrated in this region. Customer demand for an improved fuel economy and reduced emissions in the wake of rising pollution levels are driving growth in the automotive sideshaft systems. Manufacturers such as NTN Corporation (Japan), Hyundai Wia Corporation (South Korea), and NKN Ltd. (Japan) are some of the dominant players in this region that are expected to drive the development in the automotive drive shaft market.

A related research titled Global and China Automotive Drive Shaft Market Report, 2015 says China needed 62.44 million automotive drive shafts in 2014, of which 79% came from passenger vehicles. Up to now, Chinese automotive drive shaft companies have been capable of developing and producing drive shafts for construction machinery, commercial vehicles and passenger vehicles. However, most of domestic drive shaft producers are small sized and focus on low- and mid-range products, compared with a lower proportion of high-precision, high technical content and high value added products, especially high-end constant velocity (CV) drive shaft market, which is still dominated by foreign brands. XuchangYuandong Drive Shaft Co., Ltd. is the largest non-CV drive shaft manufacturer in China, producing mainly drive shafts for varied construction machinery including light, medium-duty and heavy trucks, pickups, SUVs, buses, loaders and cranes. In 2014, the company sold 3.5007 million drive shafts, up 19.06% from 2.9402 million units in 2013, mainly due to significant rise in sales of light drive shaft arising from adjustment in sales structure.

WanxiangQianchao had drive shaft capacity of 4 million units and sold 3.29 million units in 2014. The production of drive shaft is chiefly undertaken by Qianchao Transmission Shaft Co., Ltd., which has 5 factories and 1 research institute, producing mainly drive shafts, steering columns, EPS and other auto parts. Due to a fiercely competitive drive shaft market, the company underwent a decline in drive shaft utilization to 83% in 2014 from 97% in 2013. Read more on the global and China automotive drive shaft market 2015 report at .

Explore multiple newly published research titles relevant to the automotive market and its segments at .

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SOURCE RnR Market Research