Global Drive Shaft Market

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Global Drive Shaft Market Research Report,
Information by Vehicle Type (Passenger Cars,
Light Commercial Vehicle, and Heavy Commercial
Vehicle), Design (Hollow Drive Shafts and Solid
Drive Shafts), Position (Front Drive Shaft and
Rear Drive Shaft), and Region (North America,
Europe, Asia-Pacific, and the Rest of the World)-
Forecast till 2024
www.marketresearchfuture.com
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Market Highlights A research report published by
Market Research Future (MRFR) on the global drive
shaft market, indicates the market to exhibit
healthy growth and capture a CAGR of 5.2 over
the forecast period of 2018-2025. In its latest
report, MRFR has identified the key macro and
micro-economic factors affecting the growth of
the global drive shaft market. Drive shaft,
being an essential component of the vehicle
driveline, the drive shaft market is growing in
line with the automotive industry. The rise in
disposable income across the globe and the rise
of the middle-class has raised the sales of
vehicles considerably in recent years. To cater
to the growing demand for vehicles, commercial as
well as passenger, automotive manufacturers are
increasing the production of cars which has
significantly raised the demand for drive shaft.
Development of lightweight drive shafts has had
a positive effect on the growth of the drive
shaft market. Lightweight drive shafts are highly
preferred by people who prefer driving at a
higher speed. Report Sample https//www.marketr
esearchfuture.com/sample_request/7746
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Segmentation The global drive shaft market is
segmented based on vehicle type, design, and
position. By vehicle type, the drive shaft market
has been segmented into passenger cars, light
commercial vehicle (LCV), and heavy commercial
vehicle (HCV). By design, the drive shaft market
has been segmented into hollow drive shafts and
solid drive shafts. The hollow drive shaft
segment is anticipated to lead the market over
the forecast period. Hollow drive shafts have
gained prominence in recent years due to their
flexibility and enhanced performance as compared
to conventional counterparts. By position, the
drive shaft market has been segmented into front
drive shaft and rear drive shaft. Browse
Complete Report Details https//www.marketresearc
hfuture.com/reports/drive-shaft-market-7746
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Regional Analysis By region, the drive shaft
market has been segmented into North America,
Rest-of-the-World (RoW), Asia Pacific (APAC), and
Europe. The APAC drive shaft market accounts for
the most valuable share of the market and is
anticipated to exhibit the highest growth rate
over the forecast period. Improving economic
conditions and subsequent rise in spending
capabilities has increased the sale of cars in
the region which is boosting the growth of the
drive shaft market in the region. Moreover, the
region is home to various automotive
manufacturers who invest heavily in the drive
shaft market. Automotive manufacturing has also
increased in the region due to lower production
cost and favorable government policies. Europe
is the second largest drive shaft market. The
existence of automotive OEMs in the region, along
with collaborations, agreements, and partnerships
of automotive OEMs and drive shaft suppliers has
created a conducive environment for the growth of
the market. Additionally, various automotive
safety standards prompt the use of drive shaft,
inducing high demand within the market.
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Industry Updates May 2019 The new Lexus RC F
edition is equipped with a hollow, lighter drive
shaft which allows a larger final drive ratio
which enhances engine responsiveness.
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Key players Dana Holding Corporation (US), ACPT,
Inc. (US), NTN Corporation (Japan), The Timken
Company (US), American Axle Manufacturing
Holdings, Inc. (US), Neapco Holdings, LLC (US),
Yamada Manufacturing Co., Ltd. (Japan), Ifa
Rotorion - Holding GmbH (Germany), Advanced
Composite Products Technology, Inc., Trelleborg
AB (Sweden), and GKN PLC (UK) are the imminent
players operating the drive shaft market.
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