Global Automotive Drive Shafts Market Analysis and Value Forecast Snapshot by End-use Industry 2018-2024

Automotive Drive Shafts Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of Automotive Drive Shafts Market by shaft type (Hotchkiss drive shaft type, flexible drive shaft type and torque tube drive shaft type), vehicle type (passenger vehicles, commercial vehicles and electric vehicles) market status and outlook of global and major regions, from manufacturers, and end industries.

As this report is expected to help key players among the Automotive Drive Shafts Market it includes the five years Industry analysis and the 6 years annual forecast from 2018 to 2024. Some of the prominent participants in the Global Automotive Drive Shafts Market are GKN PLC, American Axle Manufacturing Inc., Dana Incorporated, Nexteer Automotive, Xuchang Yuangdong Driveshaft Co., Ltd., Neapco Holdings

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Demand for Automotive Drive Shafts to Promote Growth in the Automotive Drive Shafts Market

Increase in demand for the lightweight side shafts and stringent carbon emission regulations drives the growth of the automotive drive shaft market. In addition, the growing concern for fuel efficiency and the stringent norms posed by the international emission control authorities have motivated the manufacturers to develop lightweight drive shafts without negotiating on their performance and rigidness. Moreover, the driveshafts need to be light in weight hence the demand for automotive drive shafts has increased, that in turn, is fueling the growth of the automotive drive shafts market. Moreover, fluctuation in the prices of raw materials are the factors restraining the growth of the automotive drive shafts market during the forecast period. Furthermore, the increase in demand for passenger vehicles is anticipated to create growth opportunities in the upcoming years.

Asia Pacific to Dominate the Global Automotive Drive Shafts Market

Asia Pacific dominated the automotive drive shaft market. The growth in the Asia Pacific region is due to the emerging economies of India, China and Japan. EPA (Environment Protection Authority) policies and stringent CAFÉ (Corporate Average Fuel Economy) regulations forced the automotive manufacturers to reduce the weight of the vehicles to reduce emissions and fuel consumptions. Moreover, the increased investment in the automobile industry, especially in countries such as China, is anticipated to boost the growth in the automotive drive shaft market. The global production of passenger cars alone has increased from 40.1 million in 2001 to 73.45 million in 2017, and that of overall vehicles was around 97.30 million in 2017.

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Dana Inc. Moves to Acquire Driveline Division of GKN

In March 2018 — Dana Inc. announced its signature of definitive agreements to combine with the driveline division of United Kingdom-based GKN plc to create Dana Plc, a global driveline systems company. Dana is based in Maumee, Ohio. It supplies steer axles, steering shafts, driveshaft assemblies, engine gaskets, hub systems and a tire-pressure management system that features self-inflating tires.

Under terms of the agreements, Dana shareholders will own approximately 52.75% of the company with GKN shareholders owning 47.25%. The combined company will be domiciled in the United Kingdom as Dana Plc and will continue to trade on the New York Stock Exchange under the ticker symbol DAN.

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