Side Shaft Market Size shall reach a value of $xx Million in 2028, growing with a CAGR of 9.1% during the forecast period of 2021 to 2028.
Side Shaft Market Growth and Trends
The global side shaft market currently holds a market value of US$ 7.2 billion in 2020 and is expected to grow at a CAGR of 7.12% to a projected market value of US$ 87.61 billion by 2025. The increasing globalization is the major driving factor behind the growth of the side shaft market.
The increasing globalization has resulted in emerging economies with higher disposable incomes. This has lead to an increased penetration of automobiles owing to the increase in the need for domestic travel. By 2025, there are 78 million vehicle units forecasted to be sold. The rising demand for an efficient fuel economy and eco-friendly vehicle units with lesser emissions is propelling the demand for side shafts. The rising pollution levels globally have also directly impacted the sales of fuel efficient vehicles, thus increasing the demand for the side shaft market.
Several policymakers and Governments have mandated stringent fuel efficient rules and regulations, which have bolstered the need and demand for the side shafts in vehicle production. The increasing levels of production in the automobile industry have significantly boosted the sales of the side shafts. The rise in the rate of technological adoption globally is the promoting factor for the side shaft market. The increasing deployment of all-wheel drive vehicles (AWD) has fueled the sales and demand for side-shafts.
The hollow drive shaft held the largest market share in the year 2018 owing to the increasing demand for flexible and light weight vehicles. With the decreasing prices of installation and simplifying the process of installation, the demands for the side shafts are propelled forward. The rising innovation has resulted in a higher probability of efficient repair of the damaged parts instead of complete replacements.
The constant developments witnessed in the technology of side shafts rendered by the R&D sectors are promising advanced side shafts in the coming years. The strategic marketing employed by the top market players to enhance the market horizon and to strengthen their foothold in the market is expected to propel the side shafts market upwards.
Side Shaft Industry Regional Analysis
Side Shaft Market Research Report Scope/Definition
Side Shaft Market Share and Competition Key companies operating in this industry are: GKN ; NTN ; Hyundai-wia ; Nexteer ; KOFCO ; Wanxiang ; Neapco ; JTEKT and Guansheng
Side Shaft Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2021 - 2028)
• Rear Side Shaft
• Front Side Shaft
Application Analysis (Revenue, USD Million, 2021 - 2028)
• Passenger Vehicles
• Commercial Vehicles
Region Analasis (Revenue, USD Million, 2021 - 2028)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Side Shaft Industry Companies
• GKN
• NTN
• Hyundai-wia
• Nexteer
• KOFCO
• Wanxiang
• Neapco
• JTEKT
• Guansheng
Available Versions of Side Shaft Market: -
United States Industry Research Report
Europe Industry Research Report
Asia Pacific Industry Research Report
India Industry Research Report
