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Automotive Drive Shafts - Global Market Trajectory & Analytics

  • ID: 4806445
  • Report
  • March 2021
  • Region: Global
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Dana, Inc.
  • GKN PLC
  • Meritor, Inc.
  • Neapco Holdings
  • The Timken Company
  • MORE

Global Automotive Drive Shafts Market to Reach US$7.9 Billion by the Year 2027


Amid the COVID-19 crisis, the global market for Automotive Drive Shafts estimated at US$5.5 Billion in the year 2020, is projected to reach a revised size of US$7.9 Billion by 2027, growing at a CAGR of 5.4% over the analysis period 2020-2027.Steel, one of the segments analyzed in the report, is projected to grow at a 4.9% CAGR to reach US$4 Billion by the end of the analysis period.After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Aluminum segment is readjusted to a revised 5.8% CAGR for the next 7-year period. This segment currently accounts for a 36.4% share of the global Automotive Drive Shafts market.



The U.S. Accounts for Over 19.1% of Global Market Size in 2020, While China is Forecast to Grow at a 7.8% CAGR for the Period of 2020-2027


The Automotive Drive Shafts market in the U.S. is estimated at US$1 Billion in the year 2020. The country currently accounts for a 19.12% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$2 Billion in the year 2027 trailing a CAGR of 7.8% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR while Rest of European market (as defined in the study) will reach US$2 Billion by the year 2027.

Carbon Fiber Segment Corners a 11.7% Share in 2020


In the global Carbon Fiber segment, USA, Canada, Japan, China and Europe will drive the 5.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$503.9 Million in the year 2020 will reach a projected size of US$750.6 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1 Billion by the year 2027, while Latin America will expand at a 7.7% CAGR through the analysis period.

Select Competitors (Total 46 Featured) -

  • American Axle & Manufacturing Inc.
  • Dana, Inc.
  • GKN PLC
  • Meritor, Inc.
  • Neapco Holdings
  • Nexteer Automotive Group Ltd.
  • The Timken Company
  • Wanxiang Qianchao Co., Ltd.
  • Xuchang Yuangdong Drive Shaft Co. Ltd.
  • Yamada Manufacturing Co. Ltd.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Dana, Inc.
  • GKN PLC
  • Meritor, Inc.
  • Neapco Holdings
  • The Timken Company
  • MORE
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • A Review of the Changing Automobile Business Models & the Growing Role of Innovative Component Suppliers
  • COVID-19, A Rude Interruption to the Fairly Healthy Pre-COVID Outlook. Year 2020 Has Been a Year of Astounding Disruption & Unbelievable Transformation
  • EXHIBIT 1: COVID-19 Leaves the World in Shambles & Industries and Markets Upended: World Economic Growth Projections (Real GDP, Annual % Change) for 2019 to 2022
  • As Mass Vaccination Drives Get Underway Worldwide, Will It Change the Existing Economic Realities? & Is it Really the Silver Bullet We Were Waiting For?
  • EXHIBIT 2: How Fast the World is Vaccinated Will Determine How Soon the Pandemic Will End: Global Number of COVID-19 Vaccinations (Per 100 People) As of February 2021 by country
  • EXHIBIT 3: Global Number of Annual COVID-19 Vaccine Doses (In Million) for Years 2020 through 2025 by Geographic Region/Country
  • How the Automotive Industry Is Impacted by the Pandemic & What's the New Normal?
  • EXHIBIT 4: Supply Chain Disruptions Along With Weak Demand Send Production Activity Slumping: Automobile Production % YoY Change Across Select Countries: 2020 Vs 2019
  • Auto Sales Come Down Crashing As Unemployment Spikes to Historic Highs
  • EXHIBIT 5: Continued High Unemployment Levels Challenges Growth in Industries Reliant on Consumer Discretionary Incomes: Global Number of Unemployed People (In Million) for Years 2017, 2019, 2020, and 2022
  • COVID-19 Triggers Unprecedented Disruptions in the Supply Chain & Accelerates the Urgency to Rethink Supply Chain Management
  • EXHIBIT 6: Unprecedented Losses Sustained in the Supply Chain Pushes Up the Focus on Resilience & Supply Chain Reinvention: Global Losses in Supply Chain as a % of Earnings Before Interest, Taxes, Depreciation & Amortization (EBITDA) in the Year 2020
  • How Are OEMs Responding as They Walk Through the Ruins of the Automotive Supply Chain Left Behind by the Pandemic?
  • The Pandemic Fast Tracks a Mobility Future With Autonomous Vehicles
  • EXHIBIT 7: Reluctance to Use Shared Mobility Will Persist Even in the Post Pandemic World. The Darkening Outlook for “Shared Mobility” is a Business Opportunity for Self-Driving Cars & Taxis: Global Ride Hailing & Taxi Market (In US$ Billion) for Years 2017, 2018, 2019, 2020
  • Engineering Significance of Drive Shafts in Automobiles: Definition, Scope, Types, Importance & Benefits
  • Recent Market Activity
  • World Brands
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • Market Outlook 2021 & Beyond
  • Stringent Regulations Post Pandemic to Spur Growth
  • EXHIBIT 8: Transportation is the Biggest Contributor to GHG Emissions: Global CO2 Emissions (In Billion Metric Tons) for the Year 2021
  • Here's Why the Environment & Sustainability Will be Top Priorities After the Pandemic
  • Hollow Drive Shaft to Spur Growth
  • Asia-Pacific to Record Impressive Revenue Growth
  • Opportunities Amid Challenges for Commercial Vehicles Brings Hope for Growth in the Drive Shafts Market
  • Nearshoring Trend Positions Brazil & Mexico as a Strong Production Centers for CVs
  • EXHIBIT 9: An Inevitable Rebound in Market Prospects to Encourage Growth in Sales of Drive Shafts: Global Commercial Vehicle Sales (In 000 Units) for Years 2018, 2020, 2022, 2024 & 2026
  • Lightweighting Turns the Spotlight on Lightweight Innovations in Drive Shafts
  • EXHIBIT 10: Post Pandemic, Massive Engineering Interest in Lightweighting Will Create Massive Interest in Innovative Lightweight Drive Shaft Designs: Global Automotive Lightweight Materials Market (In US$ Billion) for the Years 2022, 2024 & 2026
  • A Special Focus on Carbon Fiber Drive Shafts
  • EVs Open Up Attractive Opportunities for Drive Shaft Innovations
  • Favorable Outlook for EVs
  • Drive Shafts for EVs: A Review
  • EXHIBIT 11: Growing Demand for EVs Brings Good News for Drive Shaft Manufacturers: Number of EVs On Road Worldwide by Type (In Units) for the Years 2019 and 2022
  • Heathy Outlook for All-Wheel Drive (AWD) Vehicles Bodes Well for Market Growth
  • Development of Advanced Sensors for Drive Shafts: A Key Trend
  • Manufacturers' Focus on Advanced Driveshaft Systems for Increase Driveline Efficiency
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

UNITED STATES

CANADA

JAPAN

CHINA

EUROPE

FRANCE

GERMANY

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC

AUSTRALIA

INDIA

SOUTH KOREA

REST OF ASIA-PACIFIC

LATIN AMERICA

ARGENTINA

BRAZIL

MEXICO

REST OF LATIN AMERICA

MIDDLE EAST

AFRICA

IV. COMPETITION
  • Total Companies Profiled: 46

Note: Product cover images may vary from those shown
  • American Axle & Manufacturing Inc.
  • Dana, Inc.
  • GKN PLC
  • Meritor, Inc.
  • Neapco Holdings
  • Nexteer Automotive Group Ltd.
  • The Timken Company
  • Wanxiang Qianchao Co., Ltd.
  • Xuchang Yuangdong Drive Shaft Co. Ltd.
  • Yamada Manufacturing Co. Ltd.
Note: Product cover images may vary from those shown
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