SAN FRANCISCO, July 17, 2019 /PRNewswire/ -- The worldwide Drive Shaft Market is projected to exhibit a healthy CAGR during the forecast period. A drive shaft, also known as "propeller shaft", is a part of an automobile or vehicle that usually takes energy from the engine and transports to the wheels.
Growing demand for lightweight drive shafts for better fuel efficiency and increasing development of automobile segment globally will drive the market in the years to come. In addition, technological advancement in automotive sector and the emerging economies are driving the drive shaft market. However, high cost of material that affects the production of lightweight drive shaft coupled with high cost of replacement is likely to hamper the market in the forecast period.
Dana launched lightweight driveshaft for heavy- duty commercial vehicles- SPL 250 Lite driveshaft, in September 2017. This innovative product is 25 pounds lighter than its counterparts. The minor numeric axle ratios will boost the engine and recover fuel efficiency. Yukon Gear & Axle introduced drive shaft for the jeep and off- road vehicle, in November 2016. This driver shaft is made from modern technologies for longer life and higher strength.
Download PDF to know more details about "Global Drive Shaft Market" Report 2023.
North America is one of the prominent regions and will continue to account for a large share in the market throughout the forecast period, owing to increasing demand for low-emission and fuel-efficient vehicles in this region and technological adoption.
Leading players operating in the drive shaft market include Dana Holding Corporation, GKN PLC, NTN Corporation, American Axle & Manufacturing Holdings, Inc, Nexteer Automotive, Yamada Manufacturing Co., Ltd., Hyundai Wia, Trelleborg AB and Neapco Holdings LLC among others. Mergers, expansions, acquisitions, and new product development are some of the most extensively accepted strategies by industry companies, both small and large.
Global Market for drive shaft to 2023 offers detailed coverage of drive shaft industry and presents main market trends. The market research gives historical and forecast market size, demand and production forecasts, end-use demand details, price trends, and company shares of the leading drive shaft producers to provide exhaustive coverage of the drive shaft.
Access 119 page research report with TOC on "Global Drive Shaft Market" available with Radiant Insights, Inc. @: https://www.radiantinsights.com/research/global-drive-shaft-market-outlook-2018-2023
- Report contents include
- Analysis of the drive shaft market including revenues, future growth, market outlook
- Historical data and forecast
- Regional analysis including growth estimates
- Analyzes the end user markets including growth estimates.
- Profiles on drive shaft including products, sales/revenues, and market position
- Market structure, market drivers and restraints.
- Key regions
- North America
- Asia Pacific
- Middle East and Africa
- South America
- Key Vendors
- request free sample to get a complete list of companies
Browse reports of similar category available with Radiant Insights, Inc.:
- Motorcycle Anti-lock Braking Systems Market
- Motorcycle Suspension Systems Market
- Automotive Engine Belt and Hose Market
- Automotive Energy Recovery System Market
About Radiant Insights, Inc.:
At Radiant Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions.
SOURCE Radiant Insights, Inc.