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Industry Players in Automotive Drive Shaft Market to Capitalize on Rise in Sales of Utility Vehicles, Valuation to Reach ~US$ 21 Bn by 2027: TMR

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News provided by

Transparency Market Research

02 Dec, 2020, 15:30 GMT

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- Regulatory mandates for improving the performance and efficiency of automotive vehicles drive demand for cost-effective materials in automotive drive, aluminum gaining popularity over steel in automotive drive shaft market

- Europe and North America key markets, emission regulations and large number of all-wheel drive vehicles bolster application of automotive drive shaft especially in four-wheel drive vehicles

ALBANY, N.Y., Dec. 2, 2020 /PRNewswire/ -- Advances in material sciences for fabricating lightweight and inexpensive materials used in making automotive drive shafts have witnessed impetus from the steady demand for energy-efficient vehicles. New materials such as aluminum and carbon fiber have been increasingly tested in recent years and continue to increase the appetite for stakeholders in the automotive drive shafts.

Regulatory mandates in various developed and also developing regions for making energy-efficient utility vehicles available to consumers expand the possibilities in market. Post Covid-19 pandemic, production of automotive vehicles has gained pace, creating new market avenues.

The global automotive drive shaft market is expected to rise at tepid CAGR of ~2% during 2019 – 2027, with expected recovery of production of automotive vehicles in Q4 of 2020 strengthening market prospects. Despite the tepid growth, the final valuation of the market is expected to reach worth of ~US$ 21 Bn by 2027-end.

Advances in production technology and research in manufacturing technology are expected to boost the durability and noise dampening properties of automotive drive shafts, assert TMR analysts.

Download PDF Brochure – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=18383

Key Findings on Automotive Drive Shaft Market Report

  • Of all the product types, single piece drive shaft segment accounted for the leading market share in 2018
  • Multi-piece drive shafts segment is expected to gather traction in automotive drive shaft market
  • Of all drive types, front-wheel drive vehicles held sizable share in 2018
  • The popularity of real wheel segment is likely to be not just confined to Europe but gain worldwide traction
  • The demand in the 'others' segment rising at notable pace since 2016
  • Of the various drive systems, two-wheel drive segment accounted for a sizable share in 2019
  • Of the various materials used in making automotive drive shafts, steel holds the sway and is expected to retain its lead
  • Of the various vehicle types, passenger vehicles segment held the major market share and is expected to retain its lead through 2027
  • Strength, machinability, and durability are key attributes propelling the popularity of steel in manufacturing automotive drive shafts.

Explore 413 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Automotive Drive Shaft Market (Drive Shaft Type: Single Piece and Multi-piece; Drive Type: Front Wheel Drive, Rear Wheel Drive, and Others; Drive System: Two Wheel Drive and Four Wheel Drive; Material: Aluminum, Steel, and Carbon Fiber; and Vehicle: Passenger Vehicle, Commercial Vehicle, and Electric Vehicle) - Global Industry Analysis, Size, Share, Growth Trends, and Forecast, 2019 – 2027 at https://www.transparencymarketresearch.com/automotive-drive-shafts-market.html

Automotive Drive Shaft Market: Key Driving Factors and Promising Avenues

  • Updates in emission norms play crucial role in shaping the contours of the market. India, Brazil, and China have seen automakers transitioning to the latest norms equivalent to Euro 6 in coming months. The trend will boost the adoption of energy-efficient automotive drive shafts.
  • Rise in sales of sports utility vehicles and multi-utility vehicles has offered robust boost to the growth of the automotive drive shafts market.
  • Advances made in materials used in all-wheel drive (AWD) and four-wheel drive (4WD) are boosting the market.
  • Automakers in the automotive drive shafts market are researching on carbon fiber automotive drive shafts.
  • Emission lowering technologies are gaining wide acceptance among makers of passenger vehicles, thus boosting the demand.
  • Developed regions such as Europe and North America are seeing extensive research in developing high-end vehicles, thereby bolstering the prospects in the automotive drive shafts market.
  • The increase in mainstreaming of rear wheel drive vehicles in Europe is driven by substantial per capital expenditure on luxury goods, thereby playing a key role in spurring growth of the automotive drive shafts market.

Analyze global automotive drive shaft market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

Automotive Drive Shaft Market: Regional Landscape

Geographically, automotive drive shaft market is seeing new avenues in Asia Pacific. The region accounted for a substantial share in 2019 and is expected to be a key market for automakers and manufacturers in automotive drive shaft market. Rising presence of globally prominent automakers along with the growing appetite of premium and luxury vehicles are opening new avenues in the regional market. Rise in consumer demand for four-wheel drive vehicles has spurred revenue generation in the Asia Pacific market.

North America and Europe have already been remunerative markets, mainly on the back of strides made in vehicles and high-end automotive.

Request the Covid19 Impact Analysis at – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=18383

Global Automotive Drive Shaft Market: Segmentation

  • Automotive Drive Shaft Market, by Drive Shaft Type
    • Single Piece
    • Multi-piece
  • Automotive Drive Shaft Market, by Drive Type
    • Front Wheel Drive
    • Rear Wheel Drive
    • Others
  • Automotive Drive Shaft Market, by Drive System
    • Two Wheel Drive
    • Four Wheel Drive
  • Automotive Drive Shaft Market, by Material
    • Aluminum
    • Steel
    • Carbon Fiber
  • Automotive Drive Shaft Market, by Vehicle
    • Passenger Vehicle
    • Commercial Vehicle
    • Electric Vehicle
  • Automotive Drive Shaft Market, by Region
      •   North America
        • U.S.
        • Canada
      • Europe
        • Germany
        •  U.K.
        • France
        • Italy
        • Spain
        • Rest of Europe
      • Asia Pacific
        • China
        • India
        • Japan
        • ASEAN
        • Rest of Asia Pacific
      • Middle East & Africa
        • GCC Countries
        • South Africa
        • Rest of Middle East & Africa
      • Latin America
        • Brazil
        • Mexico
      • Rest of Latin America

Explore Transparency Market Research's award-winning coverage of the Global Automotive & Transport Industry:

Industrial Personnel and Burden Carriers (Electric) Market – The industrial personnel and burden carriers (electric) market is likely to grow at a significant pace during the forecast period. In today's highly competitive business environment, operational efficiency has become a high priority for most companies so as to provide the best of products and services to their customers. The growing importance of, and therefore need for, operational efficiency in industries is set to motivate the growth of this market in the coming years.

Airships Market – Airships navigate through the air with their own power and are lifted into the air with hydrogen and helium. The various types of airships are predominantly being used for surveillance purposes as the safety has become a growing concern in the recent times. The low maintenance cost of airships and their ability to offer surveillance to large areas are acting as key growth drivers for the global airships market. According to the research report, the global airships market is projected to be worth US$273.2 mn by the end of 2024 as compared to US$152.8 mn in 2015. During the forecast period of 2016 and 2024, the global market is expected to expand at a CAGR of 6.5%.

Automotive Starter Motor and Alternator Market – The global automotive starter and motor alternator market has been thriving due to the stupendous growth of the automotive sector across the globe. The positive changes in economies since the global slowdown have also had a significant impact on the overall market. The market is also benefitting from the rising investments and mergers and acquisitions of several leading companies. These factors have helped companies improve their research activities, make value addition to their existing pipelines, and expand their geographical reach.

About Transparency Market Research                      

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact
Mr Rohit Bhisey
Transparency Market Research
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United States
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Email: sales@transparencymarketresearch.com
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Press Release Source: https://www.transparencymarketresearch.com/pressrelease/automotive-drive-shafts-market.htm 
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