Global Automotive Drive Shaft Market Size By Vehicle Type (Passenger Cars, Light commercial vehicle), By Design (Drive Shaft, Rear drive shaft), By Geographic Scope And Forecast

Automotive Drive Shaft Market Size And Forecast

Automotive Drive Shaft Market size was valued at USD 33.58 Billion in 2024 and is projected to reach USD 49.43 Billion 2031, growing at a CAGR of 4.95% from 2024 to 2031.

The increasing emphasis on fuel efficiency, the integration of stringent regulations by various emission control authorities across the globe, and the improvements of drive shafts by manufacturers without adjusting their performance and rigidness are the primary reasons driving the Automotive Drive Shaft Market growth. The Global Automotive Drive Shaft Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Automotive Drive Shaft Market Definition

An automobile drive shaft is a motorized part that moves the vehicle by transferring the engine power of the gearbox to the back and front axles. This torque is transmitted across a distance between the components. It is typically built of steel, aluminum, and carbon fiber and comprises the inboard constant velocity joint, connecting shaft, and outboard fixed joint. Due to their strength, low weight, ability to bear stress and high temperatures, and ability to absorb engine torque, automotive drive shafts are often used in commercial and passenger cars.

Other product advantages include low operating costs, smoothness, no oil leaks, dependability, and clean operation. The drive shaft distributes the torque from the engine to the wheels and lowers the car’s total weight. The shaft must be appropriately balanced for the engine’s torque to transmit smoothly and effectively to the wheels. Different drive trains are used with different types of vehicles. But to rotate, every vehicle needs a driving shaft. Driveshafts for automobiles can be two or three components. Drive shaft damage is prevented by three-piece designs while operating at high speeds.

Global Automotive Drive Shaft Market Overview

The expanding auto industry and the rising demand for environmentally friendly automobiles are the main factors driving the growth of the Automotive Drive Shaft Market. Increasing demand for lightweight drive shafts in light-duty cars is anticipated to propel market expansion. Furthermore, strict discharge control rules are anticipated to open new market prospects. Another factor boosting the market for automotive drive shafts is the rising sales of electric automobiles. However, throughout the forecast period, the introduction of high-end electric vehicles with fewer or no gears and shafts is anticipated to restrain the expansion of the worldwide Automotive Drive Shaft Market.

The ongoing COVID-19 pandemic has had a negative impact on the worldwide transportation industry. This will limit the growth of the global Automotive Drive Shaft Market. Significant firms are also implementing clean manufacturing techniques that provide a high level of dependability without oxidation, including electron beam welding. This will have a flattering impact on the market’s expansion. The market is expanding for several reasons, including the increased need for hollow shafts, rising disposable incomes, and intensive research and development (R&D) efforts in the automotive sector.

Global Automotive Drive Shaft MarketSegmentation Analysis

The Global Automotive Drive Shaft Market is segmented on the basis of Vehicle Type, Design, and Geography.

Automotive Drive Shaft Market, By Vehicle Type

• Passenger Cars
• Light commercial vehicle
• Heavy commercial vehicle

Based on Vehicle Type, the market is segmented into Passenger Cars, Light commercial vehicle, and Heavy commercial vehicle. The passenger cars category is anticipated to hold the largest market share owing to the advancement implemented in passenger cars. Rising automation and connectivity features will contribute to the growth.

Automotive Drive Shaft Market, By Design

• Drive Shaft
• Rear drive shaft

Based on Design, the market is segmented into Drive Shaft and Rear drive shaft. The rear drive shaft segment will take over a heavy market share. The hype of this segment is because of the surging use of rear drive shafts in commercial vehicles. The increasing need for rear drive shafts will help the global market growth.

Automotive Drive Shaft Market, By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

On the basis of Regional Analysis, the Global Automotive Drive Shaft Market is classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. Asia Pacific is the growing region in the Global Automotive Drive Shaft Market. The increasing production and demand for passenger and commercial automobiles in developing countries like China, Japan, and India.

Key Players

The “Global Automotive Drive Shaft Market” study report will provide valuable insight with an emphasis on the Global market including some of the major key players such as Nexteer Automotive, GKN, Hyundai, NTN Corporation, Trelleborg AB, Xuchang Yuangdong Driveshaft Co., Ltd, Neapco Holding, Dana Inc., American Axle Manufacturing, Danchuan, and others.

Our market evaluation also includes a specially dedicated sector for major players. Our analysts offer a transparent view of the financial overview of all the key players, along with product benchmarking and SWOT analysis.

Key Developments

• In February 2021, American Axle Manufacturing (AAM) introduced the company got the axle and driveshaft program for Ram’s heavy-duty pick-up trucks through 2030.
• In January 2021, Dana Holdings Corporation declared it would supply Dana 60 AdvanTEK solid rear axle with Spicer PerformaTraK electronic locking differential to the 2021 Ram 1500 TRX pickup truck.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Automotive Drive Shaft Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces Model

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Automotive Drive Shaft Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Report Scope