Universal Joint Market Report 2025

This Universal Joint market report delivers an in-depth analysis of the market’s key characteristics, including size, growth potential, and segmentation. It provides a detailed breakdown of the market across major regions and leading countries, highlighting historical data and future growth projections. The report also examines the competitive landscape, market share insights, emerging trends, and strategic developments shaping the market.

The universal joint market size has grown strongly in recent years. It will grow from $97.97 billion in 2024 to $104.25 billion in 2025 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to expansion of transportation, rise of all-wheel-drive vehicles, increasing industrialization, growth of the automotive industry, and increasing investment in infrastructure.

The universal joint market size is expected to see strong growth in the next few years. It will grow to $131.76 billion in 2029 at a compound annual growth rate (CAGR) of 6%. The growth in the forecast period can be attributed to rising vehicle production, rising demand for heavy-duty vehicles, growing use of all-wheel-drive systems, rising focus on vehicle safety, and rising automotive exports. Major trends in the forecast period include technological advancements, advanced materials, smart universal joints, hybrid vehicles, and digital twin technology.

The growth in vehicle production is anticipated to boost the universal joint market in the future. Vehicle production involves the large-scale manufacturing of motor vehicles, including both passenger and commercial cars, for public sale. This increase in vehicle production is driven by higher consumer demand for automobiles, advancements in manufacturing technology, government incentives for electric vehicles, rising disposable incomes, and a shift towards more fuel-efficient and environmentally friendly vehicles. Universal joints play a crucial role in automotive applications by transmitting torque and rotary motion between two shafts that are at an angle to each other, ensuring smooth power transfer even when the shafts are misaligned. For example, in April 2023, the International Energy Agency reported that the electric car market is rapidly expanding, with sales exceeding 10 million units in 2022. Electric vehicles accounted for 14% of all new car sales, up from about 9% in 2021. As a result, the increase in vehicle production is driving the growth of the universal joint market.

Key players in the universal joint market are concentrating on developing innovative products such as square ball universal joints to better meet the needs of customers in the heavy truck sector. The square ball universal joint is a specialized design intended to enhance durability and performance in applications requiring torque transmission at various angles. Unlike traditional universal joints that use cross or spider configurations, this joint employs square-shaped balls. For example, in August 2024, CCTY, a China-based manufacturer of bearings and assemblies, introduced the Square Ball Universal Joint for heavy trucks. This joint features a distinctive and efficient design that simplifies torque transfer with fewer components compared to traditional models. While conventional universal joints may have over 100 individual parts, the square ball universal joint is composed of only eight parts, with just three required for torque transmission. Its square ball design facilitates smoother rotation and maintenance-free operation, while a boot seal with an IP68 rating safeguards the bearing surfaces from contaminants and retains grease, thereby enhancing both durability and performance.

In August 2022, Cummins Inc., a US-based power solutions company, acquired Meritor Inc. for $3.7 billion. This acquisition is intended to bolster Cummins' powertrain component offerings and expedite the advancement of electrified power solutions. By doing so, Cummins aims to deliver integrated solutions for both combustion and electric applications, addressing the increasing demand for decarbonized technologies. Meritor Inc., based in the US, is a manufacturer specializing in universal joints.

Major companies operating in the universal joint market are Wanxiang Group Corporation, Dana Incorporated, SKF Group, Hyundai WIA Corporation, NTN Corporation, The Timken Company, Meritor Inc., Moog Inc., Belden Universal, Rexnord Corporation, GKN Automotive Limited, Neapco Holdings LLC, Koyo Bearings, Renold plc, American Axle & Manufacturing Inc., JTEKT Corporation, Crown Automotive Sales Co. Inc., Xiangyang Automobile Bearing Co. Ltd., IFA Rotorion Holding GmbH, Gewes GmbH, Ruland Manufacturing Co. Inc., Altra Industrial Motion Corp., Bailey Morris Ltd., Heri Automotive Co. Ltd., Elbe Group.

North America was the largest region in the universal joint market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the universal joint market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the universal joint market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A universal joint is a mechanical component designed to connect two shafts that are not aligned. It enables the transmission of rotary motion and torque between shafts positioned at an angle relative to each other. Universal joints are commonly used in automotive driveshafts to transfer power from the engine to the wheels, accommodating the varying angles caused by the vehicle’s suspension system.

The main types of universal joints include constant velocity joints, cross-axis universal joints, and ball-type universal joints. A constant velocity joint (CV joint) is a specific type of mechanical coupling that ensures power is transmitted at a constant speed while allowing for angular changes between the shafts. CV joints are made from materials such as steel, alloy, and plastic, and are available through both original equipment manufacturers and aftermarket suppliers. They are utilized in passenger vehicles, commercial vehicles, agricultural machinery, and industrial equipment.

The universal joint market research report is one of a series of new reports that provides universal joint market statistics, including universal joint industry global market size, regional shares, competitors with a universal joint market share, detailed universal joint market segments, market trends and opportunities, and any further data you may need to thrive in the universal joint industry. This universal joint market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The universal joint market consists of sales of cardan joint (hooke joint), double cardan joint, constant velocity (cv) joint, ball and socket joint, and cross and bearing joint. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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