Composite Drive Shafts Market size is estimated to be USD 4.5 Billion in 2024 and is expected to reach USD 7.2 Billion by 2033 at a CAGR of 6.5% from 2026 to 2033.
The global composite drive shafts market was valued at approximately USD 4.2 billion in 2022 and is expected to grow at a CAGR of around 7.5% from 2023 to 2030. The market is driven by the increasing demand for lightweight materials in the automotive and industrial sectors, as composite drive shafts are known for their high strength to weight ratio and corrosion resistance. Asia Pacific held the largest market share in 2022, contributing over 35% of the global revenue, due to the rising automotive production in countries like China and India. North America and Europe followed closely behind, accounting for significant shares, with the U.S. leading in terms of technological advancements and high adoption rates in the automotive sector.
Regionally, the demand for composite drive shafts is expected to witness substantial growth across North America, Europe, and the Asia Pacific due to various factors such as stringent environmental regulations, technological innovations, and increasing production of electric vehicles (EVs). The Asia Pacific region, in particular, is anticipated to grow at the highest CAGR over the forecast period, driven by the rapid industrialization and growing demand for fuel efficient vehicles. Europe, supported by the ongoing advancements in lightweight automotive materials, is also likely to expand steadily. Opportunities for market growth will arise from the growing adoption of electric and hybrid vehicles, as well as the increasing trend towards reducing overall vehicle weight to improve fuel efficiency and sustainability.
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GKN
MSI
Dana
Nexteer Automotive
IFA Group
Meritor
AAM
Neapco
Yamada Manufacturing
Drive Shafts
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 Composite Drive Shafts Market
Carbon Fiber Composites
Glass Fiber Composites
Hybrid Composites
Passenger Vehicles
Commercial Vehicles
Off-Road Vehicles
Electric Vehicles
Powertrain Systems
Suspension Systems
Steering Systems
Filament Winding
Wet Lay-up
Prepreg Lay-up
Aerospace Industry
Marine Industry
Industrial Equipment
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 Composite 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 Composite Drive Shafts Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Composite Drive Shafts Market, By Type
6. Global Composite Drive Shafts Market, By Application
7. Global Composite Drive Shafts Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Composite Drive Shafts Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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