Drive Shaft Market - Forecast (2023 - 2028)

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Drive Shaft Market Forecast(2023 - 2028)
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• The drive shaft (driveshaft, driving shaft,
  tailshaft, propeller shaft, or Cardan shaft)
  Market is forecast to reach 8.76.1 billion by
  2025, after growing at a CAGR of 7.12 during
  2020-2025. The growth of the market is attributed
  to the growing concern towards the fuel
  efficiency coupled with strict government
  regulation regarding emission control, which has
  caused the launch of new BS-6 vehicles.
• The heavy adoption of environment friendly
  vehicles in the developed countries and
  consequent increase in production of these
  vehicles has allowed high deployment of drive
  shaft in the new vehicles thereby contributing
  towards the growth of the market. 

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• Key Takeaways
• North America dominated the Drive Shaft market in
  2018, owing to the high demand of commercial and
  electric vehicles.
• Stringency in government regulations coupled with
  high growth in the launch of eco-friendly
  vehicles is anticipated to uplift the growth of
  the market.
• Hollow drive shaft held a largest share in 2018,
  due to its flexible and light design contributing
  towards the growth of the market during the
  forecast periods. 

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• By Distribution Channel- Segment Analysis
• Hollow Drive Shaft held a larger market share in
  the Drive Shaft market in 2018. The growing
  demand is mostly attributed to the technological
  advancements and high adoption of the flexible
  and high performance drive shaft, which is
  driving the growth of the market. 
• The growing demand of the light weight and
  flexible vehicle components in the automotive
  industry is one of the major factor contributing
  towards the growth of the hollow drive shaft in
  the drive shaft market.  In 2018, one of the CNC
  specialist NUM launched a hollow shaft direct
  drive torque motor ideally applicable for smooth
  and accurate rotation at low speed. 

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• Drive Shaft Market
• GKN PLC
• Hyundai Wia Corporation
• Ifa Rotorion-Holding GmbH
• Neapco Holdings LLC
• Nexteer Automotive Group Limited
• NKN Ltd

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Drive Shaft Market Learn More About the Report
_at_ https//www.industryarc.com/Research/Drive-Sha
ft-Market-Research-501147
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