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Automotive Constant Velocity Joint Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

  • Published: Mar 2021
  • Pages: 120
  • SKU: IRTNTR40010
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The automotive constant velocity (CV) joint market has the potential to grow by 137.03 million units during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 6.24%.

This automotive constant velocity joint market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (passenger cars and commercial vehicles) and geography (APAC, Europe, North America, South America, and MEA). The automotive constant velocity joint market report also offers information on several market vendors, including AB SKF, Aikoku Alpha Corp., American Axle & Manufacturing Inc., Dana Inc., Melrose Industries Plc, Meritor Inc., Neapco Holdings LLC, Nexteer Automotive Corp., NTN Corp., and Zhejiang ODM Transmission Technology Co. Ltd. among others.

What will the Automotive Constant Velocity Joint Market Size be in 2021?

Automotive-Constant-Velocity-Joint-Market-Market-Size-2020-2025

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Automotive Constant Velocity Joint Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing focus on fuel efficiency is notably driving the automotive CV joint market growth, although factors such as high repair and replacement costs of CV joints may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the automotive constant velocity joint industry get your FREE report sample now.

  • The increasing demand for fuel efficiency in vehicles will be a significant factor driving the growth of the automotive constant velocity joint market.
  • Constant velocity joints minimize power transmission losses and friction, thereby easing the operations in a wheel. As a result, these joints help in improving the fuel efficiency of vehicles.
  • Increasing R&D of automotive products has enabled the development of new materials, manufacturing processes, and designs that reduce the weight of CV joints.
  • The use of innovative CV joints in automobiles will considerably enhance the fuel efficiency of vehicles. With the growing demand for fuel efficiency in vehicles, the demand for automotive constant velocity joints will also increase.
  • The increasing focus on size and light weighting of CV joints will be one of the critical automotive constant velocity joint market trends contributing to market growth.
  • The heavy weight of CV joints contributes to the high fuel consumption and harmful gas emission of vehicles.
  • OEMs are increasingly focusing on the use of light weight materials and design for manufacturing CV joints that will improve the driving dynamics and reduce fuel consumption.
  • Several manufacturers are trying to reduce the size of CV joints by designing them in different shapes.
  • These factors are expected to fuel the demand for automotive CV joints during the forecast period.

This automotive constant velocity joint market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Automotive Constant Velocity Joint Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • AB SKF
  • Aikoku Alpha Corp.
  • American Axle & Manufacturing Inc.
  • Dana Inc.
  • Melrose Industries Plc
  • Meritor Inc.
  • Neapco Holdings LLC
  • Nexteer Automotive Corp.
  • NTN Corp.
  • Zhejiang ODM Transmission Technology Co. Ltd.

 

The automotive CV joint market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the automotive constant velocity joint market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Automotive Constant Velocity Joint Market?

Automotive-Constant-Velocity-Joint-Market-Market-Share-by-Region-2020-2025

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58% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for automotive constant velocity joints in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

The high need to reduce emissions among automotive OEMs will facilitate the automotive constant velocity joint market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Application Segments in the Automotive Constant Velocity Joint Market?

Automotive-Constant-Velocity-Joint-Market-Market-Share-by-Application-2020-2025

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The automotive constant velocity joint market share growth by the passenger cars segment will be significant during the forecast period. The demand for passenger cars is growing due to the rapidly rising rate of urbanization and the increasing disposable income. Hence, the increase in the demand for passenger cars is driving the demand for automotive CV joints.

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive constant velocity joint market size.

 

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What are the Key Factors Covered in this Automotive Constant Velocity Joint Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive automotive constant velocity joint market growth during the next five years
  • Precise estimation of the automotive CV joint market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the automotive constant velocity joint industry across APAC, Europe, North America, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of automotive constant velocity joint market vendors

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Automotive Constant Velocity Joint Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 6%

Market growth 2021-2025

137.03 mn units

Market structure

Fragmented

YoY growth (%)

5.46

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 58%

Key consumer countries

China, US, Japan, Germany, and India

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

AB SKF, Aikoku Alpha Corp., American Axle & Manufacturing Inc., Dana Inc., Melrose Industries Plc, Meritor Inc., Neapco Holdings LLC, Nexteer Automotive Corp., NTN Corp., and Zhejiang ODM Transmission Technology Co. Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Executive Summary

    Market Landscape

    • Market ecosystem
    • COVID-19 impact on consumer discretionary sector
    • Market characteristics
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Application

    • Market segments
    • Comparison by Application
    • Passenger cars - Market size and forecast 2020-2025
    • Commercial vehicles - Market size and forecast 2020-2025
    • Market opportunity by Application

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • North America - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Competitive scenario
      • Vendor Landscape
      • Landscape disruption
      • Industry risks

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • AB SKF
      • Aikoku Alpha Corp.
      • American Axle & Manufacturing Inc.
      • Dana Inc.
      • Melrose Industries Plc
      • Meritor Inc.
      • Neapco Holdings LLC
      • Nexteer Automotive Corp.
      • NTN Corp.
      • Zhejiang ODM Transmission Technology Co. Ltd.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
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      Automotive Constant Velocity Joint market growth will increase by $137.03 million units during 2020-2025.
      The automotive constant velocity joint market is expected to grow at a CAGR of 6.24% during 2020-2025.
      Technavio has segmented the automotive constant velocity joint market by application (Passenger cars and Commercial vehicles) and geographic (APAC, Europe, North America, South America, and MEA).
      AB SKF, Aikoku Alpha Corp., American Axle & Manufacturing Inc., Dana Inc., Melrose Industries Plc, Meritor Inc., Neapco Holdings LLC, Nexteer Automotive Corp., NTN Corp., Zhejiang ODM Transmission Technology Co. Ltd. are a few of the key vendors in the automotive constant velocity joint market.
      APAC will register the highest growth rate of 57.99% among the other regions. Therefore, the automotive constant velocity joint market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the automotive constant velocity joint market growth are:
      • Growing demand for SUVs and pick-up trucks
      The automotive constant velocity joint market vendors should focus on grabbing business opportunities from the passenger cars segment as it accounted for the largest market share in the base year.
      • What are the key global market and the regional market share?
      • What are the revenue-generating key market segments?
      • What are the key factors driving and challenging this market’s growth?
      • Who are the key market vendors and their growth strategies?
      • What are the latest trends influencing the growth of this market?
      • What are the variables influencing the market growth in the primary regions?
      • What are the factors influencing the growth of the parent market?
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