Two-piece Drive Shafts Market size is estimated to be USD 3.2 Billion in 2024 and is expected to reach USD 5.1 Billion by 2033 at a CAGR of 5.5% from 2026 to 2033.
The global two piece drive shafts market was valued at approximately USD 5.8 billion in 2022 and is expected to grow at a CAGR of 6.2% from 2023 to 2030. The market growth is primarily driven by the increasing demand for fuel efficient vehicles, advancements in automotive technologies, and the rising adoption of electric vehicles. The expansion of the automotive industry, along with growing investments in the manufacturing of lightweight and durable automotive components, is further contributing to the markets expansion. The market is segmented by region, and North America, Europe, and the Asia Pacific region are anticipated to account for the largest shares. Asia Pacific, in particular, is expected to hold a significant share due to the rapid industrialization in countries like China and India, coupled with the growing automotive production capacity in these regions. Regionally, North America held a significant share in the global two piece drive shafts market, valued at around USD 1.2 billion in 2022. The region is likely to maintain steady growth due to the high demand for advanced vehicle components in countries such as the U.S. and Canada. The European market, valued at approximately USD 1.0 billion in 2022, is also experiencing growth, driven by increasing automotive manufacturing and the presence of major vehicle manufacturers. The Asia Pacific region, with a market size of over USD 2.5 billion in 2022, is expected to grow at the highest rate due to the expansion of automotive production, increasing consumer demand, and government initiatives supporting the development of the automotive sector. Furthermore, the Middle East and Africa and Latin America regions are expected to witness gradual growth due to rising vehicle production and demand for automotive components in these regions.
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GKN
NTN
Dana
Nexteer Automotive
Hyundai Mobis
IFA Group
Meritor
AAM
Neapco
JTEKT
Showa
Xuchang Yuandong Drive Shaft
GSP
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Two-piece Drive Shafts Market
Single Piece Drive Shaft
Two-Piece Drive Shaft
Steel
Aluminum
Carbon Fiber
Composite Materials
Passenger Cars
Commercial Vehicles
Heavy Duty Vehicles
Off-road Vehicles
OEM (Original Equipment Manufacturer)
Aftermarket
Light-duty Vehicles
Heavy-duty Vehicles
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Two-piece Drive Shafts Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Two-piece Drive Shafts Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Two-piece Drive Shafts Market, By Type
6. Global Two-piece Drive Shafts Market, By Application
7. Global Two-piece Drive Shafts Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Two-piece Drive Shafts Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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