"Drive Shaft Market" is the title of a new report from Data Bridge Market Research. Key growth strategies, drivers, opportunities, key segments, Porter's Five Forces analysis, and competitive environment are all dissected in detail in the research. For the growth of the business, the Drive Shaft market research report has a lot to offer and hence it plays a very important role in growth. It describes a thorough study of the current situation of the global market along with several market dynamics. Being a premium market research report, Drive Shaft report works as an innovative solution for businesses in today’s revolutionizing marketplace. This market report gives the best outcome because it is structured with a nice blend of advanced industry insights, practical solutions, talent solutions, and the latest technology. This market report takes into account plentiful aspects of the market analysis which many businesses demand.
Data Bridge Market Research analyses that the drive shaft market was valued at USD 34,892.40 million in 2021 and is expected to reach 49,620.50 million billion by 2029, registering a CAGR of 4.50% during the forecast period of 2022 to 2029.
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Key Players Mentioned in the Drive Shaft Market Research Report:
- GKN PLC (U.K.)
- ACPT Inc. (U.S.)
- American Axle & Manufacturing Inc. (U.S.)
- Yamada Manufacturing Co. Ltd. (Japan)
- Trelleborg AB (publ) (Sweden)
- NTN Corporation (Japan)
- The Timken Company (U.S.)
- Bailey Morris (U.K.)
- Fortune-Cross (Thailand) Co., Ltd. (Thailand)
- HYUNDAI WIA CORP. (South Korea)
- JTEKT Corporation (Japan)
- Meritor, Inc. (U.S.)
- Mohit Engineers Pvt. Ltd (India)
- Nexteer (U.S.)
- Shanghai gkn huayu driveline systems co. ltd (China)
- SHOWA CORPORATION (Japan)
- Wanxiang America Corporation (China)
- Xuchang Yuangdong Driveshaft Co., Ltd (China)
Drive Shaft Market Dynamics
Drivers
- Increasing sales of electric vehicles
The sales of electric vehicles have been a prominent positive impact on the market's growth over the past years, and it is projected to continue to gain more consumers in the upcoming time. Furthermore, several manufacturing companies of electric vehicle plan to launch more innovative models in the forthcoming period. Furthermore, major market players are also shifting their focus toward the electric vehicle due to their environment concern and growing prices of fuels. Therefore, this is anticipated to rise the growth drive shaft market globally.
- Adoption of Hollow shafts
The reduction of vehicle weight has been a major concerning factor for manufacturers and innovators in the automotive industry. Many passenger cars use a hollow shaft as a drive shaft because it offers an advantage compared to solid drive shafts. Hollow drive shaft and solid drive shaft with same mass performs in same manner without resulting in a failure. Thus, this is expected to leading the growth of the drive shaft market.
Opportunities
- Rising the demand for eco-friendly drive shaft
The rising demand for the eco-friendly product due to the environment concern has risen the interest of the manufacture for the production of lightweight drive shafts. This lightweight shaft satisfies the need for environment-friendly vehicles with the tough standards presented by the global discharge control specialists. The rising demand for eco-friendly drive shaft are expected to create beneficial opportunities for the growth of the drive shaft market globally in upcoming years.
Moreover, emerging new markets and increase the number of strategic collaborations will also create the beneficial opportunities for the market’s growth rate.
Restraints/ Challenges
- High cost
Volatility in the prices of raw materials used to manufacture the automotive drive shafts in high-volume markets and the high cost of replacement will act as market restraint and obstruct the market's growth rate.
- Complex installation
One major factor hindering the growth of the drive shaft market is the complex installation and reinstallation process. Furthermore, once the system will damaged than it cannot be repaired, it has to be replaced completely. Which is also restrain the growth of the market.
This drive shaft market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the drive shaft market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Drive Shaft Market Regional Analysis:
North America: (United States, Canada, Europe, Germany, France, U.K., Italy, Russia)
Asia-Pacific: (China, Japan, South Korea, Australia, Taiwan, Indonesia, Thailand, Malaysia)
Latin America: (Mexico, Brazil, Argentina, Colombia)
Middle East & Africa: (Turkey, Saudi Arabia, UAE)
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Market Key Benefits over Competitors:
- The report provides a qualitative and quantitative analysis of the Drive Shaft market trends, forecasts, and market size to determine new opportunities.
- Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make strategic business decisions and determine the level of competition in the industry.
- Top impacting factors & major investment pockets are highlighted in the research.
- The major countries in each region are analysed and their revenue contribution is mentioned.
- The market player positioning segment provides an understanding of the current position of the market players active in the Drive Shaft Industry.
Based On The Drive Shaft Industry Market Segmentations:
Type
- Rigid Drive shaft
- Hollow Drive Shaft
Position
- Rear drive Shaft
- Front Drive Shaft
Vehicle Type
- Passenger Car
- LCV
Drive Shaft Type
- One-piece drive shaft
- Two-piece drive shaft
- Slip-in-tube drive shaft
Sales Channel
- OEM
- Aftermarket
Distribution Channel
- Online
- Offline
Drive Shaft Market Report Objectives
- Analyzing the size of the Drive Shaft market on the basis of value and volume
- accurately calculating the market shares, consumption, and other vital factors of different segments of the Drive Shaft market
- exploring key dynamics of the Drive Shaft market
- highlighting important trends of the Drive Shaft market in terms of production, revenue, and sales
- deeply profiling top players of the Drive Shaft market and showing how they compete in the industry
- studying manufacturing processes and costs, product pricing, and various trends related to them
- showing the performance of different regions and countries in the Drive Shaft market
- forecasting the market size and share of all segments, Regions, And The Market.
New Business Strategies, Challenges & Policies are mentioned in Table of Content, Request TOC @ https://www.databridgemarketresearch.com/toc/?dbmr=global-drive-shaft-market
Coronavirus & Russian invasion of Ukraine Effect Investigation:
The coronavirus pandemic and Russian invasion of Ukraine has highly affected individuals lives across the world. Each and every other business and market should battle on the two fronts — wellbeing and monetary — and should get through this time of constrained downturn. With the financial slump costing many billions of dollars, there is far and wide hypothesis that the recuperation period will endure well into starting one year from now.
The main way out of this round design is to plan through this pandemic interruption, and we accept that organizations will benefit incredibly from our market experiences.
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About Data Bridge Market Research, Private Ltd
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