Automotive Prop Shaft Market was valued at USD 8.29 Billion in 2022 and is projected to reach USD 12.34 Billion by 2030, growing at a CAGR of 6.8% from 2024 to 2030.
The global automotive prop shaft market was valued at approximately USD 8.3 billion in 2022, and it is projected to experience a compound annual growth rate (CAGR) of 4.7% from 2023 to 2030. The growth in this market is driven by the increasing production of vehicles and the rising demand for advanced drivetrain components. Emerging economies are contributing significantly to market expansion, owing to the rapid development of automotive manufacturing sectors and the growing vehicle ownership rates. The market's expansion is also influenced by technological advancements in prop shaft designs, aimed at improving vehicle performance and fuel efficiency.
Opportunities in the automotive prop shaft market are evolving with the rise of electric vehicles (EVs) and hybrid vehicles, which demand innovative driveline solutions. The shift towards lighter and more efficient materials, such as carbon fiber, presents significant growth potential. Additionally, the increasing focus on enhancing vehicle safety and performance across various regions is likely to create new avenues for market players. Emerging markets in Asia-Pacific and Latin America are expected to witness substantial growth due to their expanding automotive industries and infrastructure developments, further propelling the demand for prop shafts in these regions.
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GKN
NTN
JTEKT
SDS
Dana
Nexteer
IFA Rotorion
AAM
Wanxiang Qianchao
Neapco
Hyundai-Wia
Yodon
Showa
Fawer Automotive Parts
GSP Automotive Group
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. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. 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 Automotive Prop Shaft Market
Passenger Vehicle
Commercial Vehicle
Based on Types the Market is categorized into Below types that held the largest Automotive Prop Shaft market share In 2023.
Half Shaft
Propeller Shaft
Global (United States, Global 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 Automotive Prop Shaft 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 Automotive Prop Shaft Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Automotive Prop Shaft Market, By Type
6. Global Automotive Prop Shaft Market, By Application
7. Global Automotive Prop Shaft Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Automotive Prop Shaft Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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