The global automotive drive shaft market is anticipated to grow at a significant CAGR of 5.5% during the forecast period. The marketing strategies such as mergers and acquisitions, partnership, collaborations, new product innovation, business expansion and other are adopted by major market players, to stay competitive in the global automotive drive shaft market. This is the prominent factor fuelling the market growth. For instance-
Aequita acquired IFA group- In March 2022, Aequita acquired IFA Group based in Haldensleben in Saxony-Anhalt. The company supports the continuous growth strategy of the drive shaft business. With this acquisition, Aequits used technological expertise, as well as the employees of IFA Group for successful restructuring, and in order, to attract an new strategic investor.
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NSK Develops World’s First Non-Contact Torque Sensor for Drive Shafts in Motor Vehicles- In July 2020, NSK Ltd., has launched a newly developed non-contact torque sensor capable of measuring the torque of drive shafts in vehicles in real-time. NSK’s new torque provides fuel economy and improves ride comfort and safety. The sensor uses magnetic fields to detect torque by measuring a minute twisting of the drive shaft. Moreover, the compact sensor is a simple structure that is ideal for mass production and broad adoption by automakers.
TrakMotive Introduces 134 New Numbers- In October 2021, TrakMotive announced the release of 134 new numbers, which include automotive CV axles, ATV CV axles, intermediate shafts, and drive shafts. Nealey 6 drive shafts are designed to be inserted in different automobiles such as BMW, Dodge, Ford, Chevrolet, GMC, and others. With this new number, the sales of the company increase, and ales from drive shaft is expected to be 4.8 million.
Market Coverage
- The market number available for – 2021-2029
- Base year- 2021
- Forecast period- 2023-2029
- Segment Covered- by drive shaft type, by design type, by position type, by vehicle type
- Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
- Competitive Landscape- American Axle & Manufacturing, Inc., GKN Automotive Ltd., Hyundai Wia Corp., Meritor, Inc., The Timken Co., IFA Holding GmbH, JTEKT Corp., Neapco Holdings, and others
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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
Automotive Drive Shaft Market by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Diversified Shafts Solutions, Inc
- Dorman Products
- Hersey Clutch Co.
- IFA Holding GmbH
- JTEKT Corp.
- Neapco Holdings
- Nexteer Automotive Corp.
- Ruland Manufacturing Co., Inc
- Trelleborg
- Wilson’s U-Joint & Driveshaft
- Zhejiang Feng De industry Co., Ltd
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