The global automotive drive shaft market is anticipated to grow at a significant CAGR of 5.5% during the forecast period. Automotive Drive Shaft Market research report allows making important decision making essential for business growth. It helps key participants further in applying right business ideas to grow business and choose the right business doing strategy. Having complete understanding of what purchasers are looking for in the market and which factors can influence their purchasing decision greatly helps to make investment in the right product development and launch it accordingly. It is also crucial for major participants to understand the behavior of target customers to bring novel products into the market. This Automotive Drive Shaft Market report serves as a blueprint to get thorough study of market competition, target audience and entire market.
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The COVID-19 pandemic has had a negative impact on the global automotive drive shaft market. Subsequent lockdown had a negative impact on the production of automobiles. According to a report published by the International Monetary Fund, vehicle production in Europe dropped by more than one-fifth, 4.5 million fewer cars were produced relative to 2019. In 2018-19, production dropped by around 6% due to tighter emission standards and weakening global demand and, with the COVID-19 pandemic in 2020, it declined by an additional 15% to 77 million vehicles. With the fall in the production of automobiles, majorly in the developed economies, the market is negatively affected during the COVID-19 pandemic.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Automotive Drive Shaft Market– Segmentation
By Drive Shaft Type
- One-Piece Drive Shaft
- Two-Piece Drive Shaft
- Slip-in-Tube Drive Shaft
By Design Type
- Hollow Shaft
- Solid Shaft
By Position Type
- Rear Axle
- Front Axle
By Vehicle Type
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Global Automotive Drive Shaft Market by Region
North America
- US
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global automotive drive shaft market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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