Global Automotive Driveshaft Market 2017-2021

Overview of the global automotive driveshaft market

Technavio’s market research report predicts that the global automotive driveshaft market will grow at a CAGR of nearly 5% during the forecast period. The rise in sales of passenger cars is one of the primary drivers for market growth. The sales of passenger cars are largely interrelated to the growth of driveshafts since all passenger cars are equipped with driveshafts. It has been observed that the global car sales improved by around 3% in 2015 with SUVs and crossovers accounting for the majority of the sales in the Chinese and the European passenger cars market. Manufacturers such as Toyota have already taken up plans to increase the production of passenger cars. Electric vehicles are largely preferred by customers in Europe, the Americas, and China. Benefits such as government incentives in the form of tax benefits and free parking space attract customers towards the electric vehicle segment.

One of the latest trends that will gain traction in the automotive driveshaft market is the utilization of nanotechnology in driveshafts for better performance. The usage of the nanotechnology in the carbon fiber driveshaft will enhance the performance by increasing the shaft's longitudinal and hoop stiffness for a specific winding pattern. QA1, an automotive driveshaft manufacturer, has worked closely with 3M Aerospace and commercial transportation division for testing and developing 3M's 4831 epoxy. This consists of silica nano particles like nano silica for all its products with added 30-40%, this in turn increases the shaft's longitudinal and hoop stiffness for a fixed winding pattern, fiber type, and fiber content. This trend of using nanotechnology will have a positive impact on the growth of the carbon composite driveshaft market.

Competitive analysis and key vendors

The automotive driveshaft market consists of few well-established vendors and the other prominent vendors are presently widening their customer base and are increasing their investments in R&D. The market competition will intensify with advancements in technology and government regulations. OEMs are likely to get into long-term collaborations with the vendors as the quality of materials used and the design are crucial factors in managing the quality, weight, and cost of driveshafts which are unique for each vendor.

Key vendors in the market are:

• GKN
• American Axle& Manufacturing
• HYUNDAI WIA

Other prominent vendors include A1 Cardone, Dorman, PowerTrain Industries, and Pro Comp.

Segmentation by application and analysis of the automotive driveshaft market

• Passenger cars
• M&HCVs
• LCVs

During 2016, the passenger cars segment dominated the automotive driveshaft market and is expected to continue its dominance over the next four years as well. The recovering economy, decrease in unemployment, lower interest rates, and a decline in fuel prices, and the perception of higher social recognition by owning a car, will drive the market segment’s growth.

Geographical segmentation and analysis of the automotive driveshaft market

• Americas
• APAC
• EMEA

In terms of geography, APAC dominated the automotive driveshaft market during 2016 and is foreseen to continue the domination during the forecast period as well. The rise in disposable income and the launch of new compact car models by OEMs are the major factors that will drive the market’s growth in APAC. China and India will be the major revenue contributors to the market in this region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global automotive driveshaft market?
• What are the key market trends impacting the growth of the global automotive driveshaft market?
• What are the challenges to market growth?
• Who are the key vendors in the global automotive driveshaft market?
• What are the market opportunities and threats faced by the vendors the global automotive driveshaft market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global automotive driveshaft market?

Technavio also offers customization on reports based on specific client requirement.

Driveshafts are mechanical components used to transfer torque or the rotational power from the transmission or engine to the drive wheels. Driveshafts are mainly used in vehicles running on gasoline, diesel, and electricity. Technavio’s reports for the automotive industry encompass a range of product markets such as powertrain, automotive manufacturing, and automotive electronics. Further to providing information on crucial factors like changing consumer patterns and the market drivers, Technavio’s market research reports also furnish a list of all prominent vendors and their competitive analysis for the automotive industry.

Our team of market research experts follow a comprehensive approach of primary and secondary research methods and carry out an extensive analysis of the demand-supply shifts for different product markets across various geographical regions. To assist clients to develop new policies for market entry, our upcoming industry research report on the global automotive driveshafts market for the forecast period of 2017 to 2021 offers deep insights created from the data collected at robust points of information such as OEMs, channel partners, and decision makers.

This upcoming report on the global automotive driveshafts market also considers the growth of the similar markets such as automotive air filter and automotive dual variable valve timing, which are expected to consolidate at a CAGR of almost 4% and about 10%, respectively by 2021. According to our market research analysts, the growing sales of passenger cars and increasing automotive regulations defining fuel economy standards and emissions levels will fuel the powertrain market’s growth in the coming years.

The upcoming report for the global automotive driveshafts market also enlists the drivers, trends, and the challenges faced by the automotive industry and also reveals insights into automotive components, auto accessories, and wheels and tires.