Global Drive Shaft
Market Report
2025
Delivery Includes:- Market Timeline 2021 till 2033, Market Size, Revenue/Volume Share, Forecast and CAGR, Competitor Analysis, Regional Analysis, Country Analysis, Segment Analysis, Market Trends, Drivers, Opportunities, Restraints, ESG Analysis, Porters Analysis, PESTEL Analysis, Market Attractiveness, Patent Analysis, Technological Trend, SWOT Analysis, COVID-19 Analysis, Consumer Behavior Analysis, etc.
The base year for the calculation is 2024. The historical will be 2021 to 2024. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
PDF Access: Password protected PDF file, Excel File Access: Quantitative data, PPT Report Access: For the presentation purpose, Cloud Access: Secure Company Account Access.
Share your contact details to receive free updated sample copy/pages of the recently published edition of Drive Shaft Market Report 2025.
The global Driving shaft market will expand significantly by xx% CAGR between 2024 and 2031.
The demand for hollow type is rising in the global Driving shaft market.
Demand for passenger cars type is rising in the global Driving shaft market.
Demand for rear drive shaft design types is rising in the global Driving shaft market.
Demand for rear axle type is rising in the global Driving shaft market.
Asia Pacific region will continue to lead, as dominating region and highest compound annual growth rate in the forecast year 2024 to 2031.
2021 | 2025 | 2033 | CAGR | |
---|---|---|---|---|
Global Market Size | 121212 | 121212 | 121212 | 121212 |
Country Market Size | 121212 | 121212 | 121212 | 121212 |
North Americ Market Size | 121212 | 121212 | 121212 | 121212 |
Europe Market Size | 121212 | 121212 | 121212 | 121212 |
Asia Pacific Market Size | 121212 | 121212 | 121212 | 121212 |
South America Market Size | 121212 | 121212 | 121212 | 121212 |
Middle East Market Size | 121212 | 121212 | 121212 | 121212 |
Africa Market Size | 121212 | 121212 | 121212 | 121212 |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Type |
|
Market Split by Vehicle Type |
|
Market Split by Design Type |
|
Market Split by Position |
|
List of Competitors |
|
Regional Analysis |
|
Country Analysis |
|
Report scope is customizable as we have a huge database of Drive Shaft industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Drive Shaft Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
A drive shaft is a motorized component that transfers the engine power of the gearbox to the front and rear axles of the vehicle. The components are separated by the distance that this torque travels. It consists of the outboard fixed joint, connecting shaft, and inboard constant velocity joint. Typically, it is constructed of carbon fiber, steel, and aluminum. Drive shafts are frequently utilized in both commercial and passenger cars because of their strength, low weight, resilience to heat and stress, and capacity to absorb engine torque. Low running costs, smoothness, the absence of oil leaks, dependability, and clean operation are further benefits of the product. By distributing engine torque to the wheels, the drive shaft reduces the overall weight of the vehicle. To transfer the engine's torque to the wheels smoothly and efficiently, the shaft needs to be balanced properly. Different vehicle types employ different drive trains. However, a drive shaft is necessary for any vehicle to rotate. Automotive driveshafts consist of two or three parts. Three-piece designs guard against drive shaft damage when running at high speeds. The Drive Shaft Market is growing due to the expanding auto industry and the growing demand for environmentally friendly vehicles. The market is expected to expand due to the demand for lightweight drive shafts in light-duty cars, strict discharge control rules, and the rise in electric vehicles. However, the introduction of high-end electric vehicles with fewer or no gears and shafts is expected to restrain the market's expansion. Additionally, clean manufacturing techniques like electron beam welding are being implemented by major companies. The market is expanding due to increased demand for hollow shafts, rising disposable incomes, and intensive research and development efforts in the automotive sector.
Fossil fuels are scarce and their consumption is endangering the environment. Vehicles that run on petrol or diesel emit toxic pollutants that have a long-term negative impact on public health. Compared to petrol or diesel vehicles, electric vehicles have substantially reduced emissions.
Electric cars are convenient to drive and don't have gears. There are only three controls: steer, brake, and accelerate. Simply plug your car into a public or home charger when you need to charge it. Because they are silent as well, electric cars lessen the noise pollution that conventional cars cause. On a scale, sales of electric vehicles have risen during the last three years.
For example,
In 2020, the market for passenger cars fell by 14% overall, but EV sales rose 39% year over year to 3.1 million units. In many European countries, EV sales are predicted to rise by double digits in 2020.
Stricter rules imposed by governments and other organizations to encourage zero-emission vehicles and reduce emissions have resulted in a large increase in sales. When it comes to electric automobiles, China leads the market. The number of electric vehicles sold in China is rising quickly.
For example,
Sales of new energy vehicles reached about 1.3 million in 2020, which accounted for 41% of all EV sales worldwide, second only to sales in Europe.
Source (https://www.iea.org/commentaries/how-global-electric-car-sales-defied-covid-19-in-2020)
Furthermore, as the market for electric vehicles grows, automakers are putting up an endless effort to produce the most efficient models. Driveshaft producers are also modernizing their product lines to provide OEMs with the best items possible to gain market share.
Over the past four to five decades, the automotive industry has changed quickly due to changes in consumer demands, legislative developments, and technological breakthroughs. Considerable progress has also been made in the design and manufacturing of various automotive components, which has affected the evolution of the automotive industry. To meet the growing focus on environmental preservation and energy efficiency during the last ten years, automakers are looking into the possibility of employing drive shafts composed of materials other than steel. Automotive drive shafts are being made from a growing number of lightweight materials, including carbon fiber and aluminum, and this trend is probably going to continue. This important aspect is probably going to have an impact on the overall growth of the automotive drive shaft market.
For example,
Advanced materials like high-strength steel, magnesium alloys, aluminum alloys, carbon fiber, and polymer composites are crucial for improving modern vehicle fuel economy and safety. Replacing traditional steel components with these lightweight materials can save over 5 billion gallons of fuel annually. These materials can carry advanced emission control systems, safety devices, and integrated electronic systems without increasing vehicle weight. They are especially important for hybrid electric vehicles, as they offset the weight of power systems like batteries and motors, improving efficiency and all-electric range. Research and development into lightweight materials are essential for lowering costs, increasing recycling, and maximizing fuel economy benefits.
Source (https://www.energy.gov/eere/vehicles/lightweight-materials-cars-and-trucks)
The global automotive drive shaft market has grown significantly due to evolving regulatory environments and intense competition in the industry. Market participants are prioritizing the development of environmentally friendly technology and releasing energy-efficient cars to gain market share in this competitive environment.
Sales of related components, such as multi-utility automobiles among other automobile categories are anticipated to increase in response to the expansion of the automotive sector. The growing global production and sales of automobiles are predicted to increase demand for these parts. From modest cars to heavy-duty trucks, the industry produces a wide variety of vehicles, each with its features and design requirements.
For example,
Contrary to the conventional wisdom that India is a market for tiny cars, the utility vehicle segment is blooming and growing many times in India, according to CRISIL's most recent research on the auto industry. Speaking about the trends in utility vehicles, Demand for utility vehicles is increasing; it was 28% and is now 48%. Over the next five years, the percentage of utility vehicles will approach fifty percent, while the percentage of tiny automobiles, which accounted for sixty-five percent two decades ago, will drop to forty percent.
As a result, it is anticipated that the automotive industry's growth trajectory will increase demand for drive shafts to satisfy the varied needs of the changing vehicle market.
Throughout the forecast period, fluctuating raw material prices are another factor that is anticipated to restrict the expansion of the worldwide automotive driveshaft market. As the economic conditions in many nations throughout the world continue to shift, raw material costs also show fluctuations. The demand for and manufacturing of drive shafts and other automotive parts are impacted by the high cost of raw materials. This hurts the automobile sector, which in turn restrains the market expansion for vehicle drive shafts. Automotive drive shaft replacement is a somewhat costly task, which may hurt product demand. Furthermore, it is anticipated that in the upcoming ten years, the development of composite drive shafts will present a threat to automobile drive shaft suppliers.
The COVID-19 pandemic affected the market's whole supply chain. Numerous manufacturing sectors were shut down. A lack of raw materials caused problems for the distribution networks and supply chain management. However, the car sector is starting to bounce back from its setbacks and set the stage for high-quality vehicles to be introduced in response to the nation's growing customer demand. China is among the automotive industry's most significant nations, having a direct or indirect connection to 80% of the supply chain. The first quarter of 2020 saw a sharp decline in car sales as China's main sectors, including the auto sector, were forced to close. The lockdown in Hubei, which is home to more than 100 automotive suppliers and other automotive hubs, caused bottlenecks throughout the supply chain in the global automobile drive shaft industry, which was another reason. Now, though, the Chinese market is starting to show signs of revival, and the car sector is running at full speed. However, it is expected that uncertainty will persist in the worldwide economy at least throughout the third and fourth quarters of 2022.
We have various report editions of Drive Shaft Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.
Drive shafts are motorized components that transfer engine power from the gearbox to the vehicle's front and rear axles. They are used in commercial and passenger cars due to their strength, low weight, resistance to heat and stress, and ability to absorb engine torque. Driveshafts offer low running costs, smoothness, and clean operation. The market for drive shafts is growing due to the expanding auto industry and the demand for environmentally friendly vehicles. However, the introduction of high-end electric vehicles with fewer gears and shafts may limit market expansion. Additionally, clean manufacturing techniques like electron beam welding are being implemented by major companies.
Top Companies Market Share in Drive Shaft Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
In the Driving shaft Market, Asia Pacific has established itself as the market leader with a significant market share. Asia-Pacific's drive shaft market was estimated to be worth USD XX million in 2023, and it is projected to grow at the fastest rate during the research. It is anticipated that growing Asian-Pacific economies will continue to contribute a percentage of car sales during the projected period. Moreover, the noteworthy rises in GDP and per capita income are the main drivers of the vehicle industry's progress. They are anticipated to positively affect the drive shaft demand in this area over the anticipated period. The Driving shaft market has seen the most substantial growth rate in Asia Pacific. Throughout the forecast period, North America is expected to hold the largest share of the worldwide automotive drive shaft market. This expansion can be ascribed to rising car sales as well as cost and interest rate increases that drive consumers to new markets. By 2031, the US is expected to hold an XX% share of the North American market. The US market is expected to develop as a result of rising auto sales and manufacturing as well as growing consumer demand for luxury and premium vehicles. Additionally, a significant portion of the market revenue share is being influenced by the existence of well-known auto and component manufacturers.
The current report Scope analyzes Drive Shaft Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
To learn more about geographical trends request the free sample pages.
Get Free Sample
Global Drive Shaft Market Report 2025 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Drive Shaft Industry growth. Drive Shaft market has been segmented with the help of its Type, Vehicle Type , and others. Drive Shaft market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Solid Shaft and Hollow Shaft are the two market segments. Among these, Hollow Shaft is anticipated to lead the worldwide market during the forecast period due to rising customer desire for better driving conditions, fuel efficiency, and vehicle performance. Additionally, as carbon emission regulations and standards become more strict, substantial changes and developments are occurring, which is propelling the segment's expansion.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Drive Shaft Industry. Request a Free Sample PDF!
This report provides a comprehensive forecast of revenue growth for the Drive Shaft industry at the global, regional, and country levels, from 2019 to 2031. It includes a detailed analysis of the latest industry trends and identifies key opportunities for each segment of machinery and equipment. The analysis covers demand across various end-use industries, such as automotive, HVAC, construction, energy, and others. By examining these application segments, the report helps stakeholders understand the factors driving growth in specific sectors and identify high-potential areas for investment and innovation. To perform a thorough segment analysis, the report considers several key factors. These include industry-specific demand patterns, technological advancements in machinery, and regional growth trends that influence specific applications. Additional factors such as regulatory requirements, supply chain dynamics, end-user preferences, and market competition are also examined to assess how they impact the adoption and performance of machinery in different sectors. The analysis further includes confidential insights like value chain evaluation, patent trends, and company performance metrics (through a Company Evaluation Quadrant), providing a complete view of each application’s evolution within the machinery and equipment market. (Report will provide you with customized data, and detailed insight on purchase of paid version of the report)
Some of the key of Drive Shaft are:
The above Graph is for representation purposes only. This chart does not depict actual Market share.
To learn more about market share request the free sample pages.
Get Free Sample
Based on vehicle type, the drive shaft market is segmented into three categories: passenger cars, light commercial vehicles, and heavy commercial vehicles. In 2023, the drive shaft market revenue was primarily attributed to the passenger car sector. Due to increased manufacturing in the Asia-Pacific area, automation and connectivity are driving forces in the passenger automobile industry. Abundant raw resources and cheap labor will propel the passenger vehicle sector worldwide. Rising and local trading activities will drive the heavy-duty truck industry's expansion over the projected period.
The front drive shaft and rear drive shaft are included in the drive shaft market segmentation based on design. The market was led by the rear drive shaft segment in 2023, and during the forecast period of 2024–2031, it is anticipated to develop at a quicker rate. The majority of commercial vehicles are thought to have rear drive shafts, which is the primary reason driving the market's growth. Through the drive shaft, an automobile's gearbox sends power or rotational motion to the back axle. So, the growing need for rear drive shafts has a favourable effect on market expansion.
The market is divided into two segments based on Position Type: Front Axle and Rear Axle. The global market for rear axles is anticipated to lead the rest throughout the forecast period. This can be ascribed to the global rebound in new car sales as well as the growing need for high-capacity lifting applications because heavy-duty vehicles mostly employ this equipment. The need for lighter vehicles and rising EV sales are driving the anticipated strong increase in the front axle category in the near future. Axles are important parts of passenger cars because they can support the weight of the front end of the vehicle and cushion impacts from uneven surfaces.
Research Associate at Cognitive Market Research
I am Aarti Bagekari, worked as a research associate with strong passion for transforming complex information into strategic insights. My strong analytical skills, coupled with a deep understanding of market dynamics and consumer behavior, empower me to identify hidden opportunities and proactively mitigate risks for clients. As a part of team, I possess a skills in data analysis, segmentation, competitive landscape.
I am Aarti Bagekari, worked as a research associate with strong passion for transforming complex information into strategic insights. My strong analytical skills, coupled with a deep understanding of market dynamics and consumer behavior, empower me to identify hidden opportunities and proactively mitigate risks for clients. As a part of team, I possess a skills in data analysis, segmentation, competitive landscape.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Drive Shaft Market is witnessing significant growth in the near future.
In 2023, the Hollow segment accounted for noticeable share of global Drive Shaft Market and is projected to experience significant growth in the near future.
The segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies GKN PLC , ACPT Inc. and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
For example,
The Dana Holdings Corporation stated in January 2021 that the RAM 1500 TRX pickup truck will receive a Dana 60 AdvanTEK solid rear axle with a Spricer PerformaTrak electronic locking differential.
For example,
JTEKT Ultra Small Seal is a tiny differential produced by JTEKT and its group company Koyo Sealing Technology. In response to the battery electric vehicle (BEV) industry's explosive growth, a side oil seal for BEV eAxle has been developed. To stop pollution from the outside and oil leakage from the inside, a differential side seal is an oil seal attached to the differential-drive shaft connection.
Source (https://www.jtekt.co.jp/e/news/2023/000486.html)
Disclaimer:
Type | Hollow, Solid |
Vehicle Type | Passenger Cars, Light Commercial Vehicle, Heavy Commercial Vehicle |
Design Type | Front Drive Shaft, Rear Drive Shaft |
Position | Rear Axle, Front Axle |
List of Competitors | GKN PLC, Advanced Composite Products & Technology Inc., ACPT Inc., American Axle & Manufacturing Holdings Inc., Neapco Holdings LLC, Dana Holding Corporation, Yamada Manufacturing Co. Ltd., Trelleborg AB, NTN Corporation, Ifa Rotorion - Holding GmbH, The Timken Company |
This chapter will help you gain GLOBAL Market Analysis of Drive Shaft. Further deep in this chapter, you will be able to review Global Drive Shaft Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Drive Shaft. Further deep in this chapter, you will be able to review North America Drive Shaft Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Drive Shaft. Further deep in this chapter, you will be able to review Europe Drive Shaft Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Drive Shaft. Further deep in this chapter, you will be able to review Asia Pacific Drive Shaft Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Drive Shaft. Further deep in this chapter, you will be able to review South America Drive Shaft Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East Market Analysis of Drive Shaft. Further deep in this chapter, you will be able to review Middle East Drive Shaft Market Split by various segments and Country Split.
Chapter 6 Middle East Market Analysis
This chapter will help you gain Middle East Market Analysis of Drive Shaft. Further deep in this chapter, you will be able to review Middle East Drive Shaft Market Split by various segments and Country Split.
Chapter 7 Africa Market Analysis
This chapter provides an in-depth analysis of the market share among key competitors of Drive Shaft. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Vehicle Type Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by Design Type Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 13 Market Split by Position Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Drive Shaft market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Chapter 15 Research Methodology and Sources
Why Hollow have a significant impact on Drive Shaft market? |
What are the key factors affecting the Hollow and Solid of Drive Shaft Market? |
What is the CAGR/Growth Rate of during the forecast period? |
By type, which segment accounted for largest share of the global Drive Shaft Market? |
Which region is expected to dominate the global Drive Shaft Market within the forecast period? |