According to a new market report published by Lucintel, the future of the global automotive drive shaft market looks promising with opportunities in the passenger car, light commercial vehicle, and heavy commercial vehicle segments. The global automotive drive shaft market is expected to grow with a CAGR of 7% from 2021 to 2026. The major drivers for this market are rising awareness of fuel efficiency, growing vehicle production, and enhanced driving experience.
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In this market, hollow shafts and solid shafts are the major product types used to manufacture automotive drive shafts. On the basis of comprehensive research, Lucintel forecasts that hollow shafts will remain the largest segment, and it is also expected to witness the highest growth over the forecast period because of their flexibility and improved performance over the conventional and heavy solid type and their use for sustaining several torques received from the engine.
Within the global automotive drive shaft market, the light commercial vehicle segment is expected to witness the highest growth over the forecast period due to reduction in the overall weight of vehicles and increasing production of sales of all-wheel drive vehicles.
APAC is expected to remain the largest market and witness the highest growth over the forecast period due to implementation of environment protection policies and fuel economy regulations, development by manufacturers to reduce vehicle weight, and enhanced fuel efficiency of vehicles.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of lightweight drive shafts, employment of electric cars, and increasing production capacity of vehicles. American Axle Manufacturing Inc., GKN PLC, Dana Incorporated, The Timken Company, Neapco Holdings LLC, Nexteer Automotive, Yamada Manufacturing, and Xuchang Yuangdong are among the major suppliers of the automotive drive shaft market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global automotive drive shaft market by position type, product type, vehicle type, and region, and has compiled a comprehensive research report titled “Growth Opportunities in the Global Automotive Drive Shaft Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global automotive drive shaft market by position type, product type, vehicle type, and region, as follows:
By Position Type [Value ($ Million) from 2015 to 2026]:
By Product Type [Value ($ Million) from 2015 to 2026]:
Hollow Shafts
Solid Shafts
By Vehicle Type [Value ($ Million) from 2015 to 2026]:
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
By Region [Value ($ Million) from 2015 to 2026]:
North America
United States
Canada
Mexico
Europe
APAC
ROW
This more than 150 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com.
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