Automotive Drive Shaft Market Report 2025

This Automotive Drive Shaft market report covers market characteristics, size & growth, segmentation, regional & country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The automotive drive shaft market size has grown strongly in recent years. It will grow from $18.08 billion in 2024 to $19.12 billion in 2025 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to increasing demand for cars, government regulations and safety standards, changes in consumer preferences and tastes, fluctuations in fuel prices, growing popularity of ride-sharing services.

The automotive drive shaft market size is expected to see strong growth in the next few years. It will grow to $24.87 billion in 2029 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to reduction of weight in the automotives, increasing usage of driving shafts in passenger cars, growing sales of utility automobiles, growing focus on sustainability and reducing carbon emissions, rise of electric and hybrid vehicles. Major trends in the forecast period include carbon fiber drive shafts, integration of advanced sensors, modular and flexible designs, electrification of drive systems, maintenance-free and durable solutions.

The increasing sales of electric vehicles represent a major factor driving the growth of the automotive drive shaft market. Electric vehicles, whether fully or partially powered by electricity, depend on drive shafts as essential mechanical components for transmitting torque from the engine gearbox to the vehicle's wheels, ensuring synchronized and smooth motion. For example, in March 2023, the International Energy Agency, a France-based intergovernmental organization, reported that the electric car market saw remarkable growth in 2022, with sales exceeding 10 million units. Electric vehicles accounted for 14% of all new car sales, rising from about 9% in 2021. This rise in electric vehicle sales is expected to significantly enhance the automotive drive shaft market, considering the critical role drive shafts play in electric vehicle drivetrains.

The growth of the automotive sector is set to propel the automotive drive shaft market. The automotive sector, which includes the design, development, manufacturing, and sale of motor vehicles, depends on drive shafts as crucial components within a vehicle's drivetrain, enabling the transmission of torque from the engine to the wheels. For example, in May 2023, a report from the European Automobile Manufacturers' Association (ACEA) indicated that 85.4 million motor vehicles were produced globally in 2022, marking a 5.7% increase compared to 2021. This expansion in the automotive sector is a key factor driving the automotive drive shaft market, as there is a consistent demand for drive shafts in vehicle manufacturing.

New product innovation is a key trend gaining traction in the automotive drive shaft market. Major companies in this sector are concentrating on developing innovative products and solutions to enhance their market position. For example, in January 2023, Harmonic Drive, a US-based manufacturer of precision servo actuators, gearheads, and gear component sets, introduced the High-Performance Hollow Shaft Gear Unit. Engineered for heavy-duty industrial applications, these advanced gear units provide high torque outputs and flexible installation options, making them suitable for demanding environments. The HPF series hollow shaft gear units offer exceptional torque density and precise positioning, making them ideal for a range of industrial applications, including robotics, packaging, and material handling. These units deliver high torque performance, featuring continuous torque ratings of up to 1000 Nm and peak torque ratings reaching 1500 Nm.

Prominent companies within the market are directing their efforts towards innovative solutions, notably high-performance constant velocity (CV) driveshafts tailored for electric vehicles (EVs) and specialized vehicles. These CV driveshafts are meticulously engineered using high-strength steel, providing the requisite durability and resilience to withstand the demanding torque and speed requirements of EVs and other niche vehicles. Constant Velocity (CV) driveshafts represent a type of automotive driveshaft pivotal in enabling continuous rotational velocity at variable angles without a substantial increase in friction or play. A noteworthy instance of this innovation occurred in December 2022, as Kalyani Mobility Drivelines (KMD), a reputable US-based driveline component manufacturer, unveiled a range of high-performance CV driveshafts explicitly designed for EVs and specialized vehicles. These driveshafts exhibit versatility and can also be effectively employed in marine, motorsports, and industrial applications. Engineered to accommodate torque ranging from 7,000 Newton-meters (Nm) up to 16,000 Nm, with speeds reaching up to 8,000 rpm, these driveshafts underscore KMD's commitment to meeting the specific demands of high-performance vehicles across diverse sectors.

In December 2022, Xuchang Yuandong Drive Shaft Co Ltd, a China-based company specializing in the research, development, production, and sale of non-constant velocity transmission shafts, announced its plans for a substantial investment. The company intends to invest approximately CNY 50 million in Henan Sanjia Automotive Parts Co., Ltd., securing a 60. 98% equity stake and entering capital increase agreements with the company and other stakeholders. This strategic collaboration aims to foster joint development in automotive parts, particularly focusing on universal joints and center bearings. Henan Sanjia Automotive Parts Co., Ltd, a notable China-based entity, specializes in manufacturing automotive drive shaft assemblies. This collaboration signifies Xuchang Yuandong Drive Shaft Co Ltd's strategic vision to enhance their expertise and product portfolio in automotive components, aligning with Henan Sanjia's proficiency in drive shaft assembly manufacturing.

Major companies operating in the automotive drive shaft market include GKN Automotive Limited, JTEKT Corporation, American Axle & Manufacturing Inc., Dana Incorporated, Hyundai Wia Corporation, Nexteer Automotive Group Ltd., Showa Corporation, Yamada Manufacturing Co Ltd., Wanxiang Qianchao Co Ltd., NTN Corporation, IFA Rotorion Holding GmbH, Meritor Inc., ZF Friedrichshafen AG, Gestamp Automoción S. A., Neapco Holdings LLC, GSP Automotive Group, Powertrain Industries Inc., The Timken Company, Dorman Products Inc., Precision Shaft Technologies, Bailey Morris Limited, Gelenkwellenwerk Stadtilm GmbH, Walterscheid Powertrain Group, PTI Technologies Inc., RSB Group, Sona Group, Spicer India Private Limited, Talbros Engineering Limited, Visteon Corporation, Xuchang Yuandong Drive Shaft Co Ltd.

The automotive drive shaft is a critical mechanical component that facilitates the transmission of torque from the engine gearbox to the vehicle wheels, ensuring synchronized and smooth motion. This rod-like component plays a crucial role in connecting the transmission unit and engine, particularly in front and four-wheel-drive vehicles.

In the automotive drive shafts market, the primary product types are rigid side shafts and hollow side shafts. Hollow side shafts, for instance, are designed to accommodate the solid shaft of the pump in applications involving electric motors or right-angle gear drives. The automotive drive shafts cater to various vehicle types, including passenger vehicles, light commercial vehicles, and heavy commercial vehicles. Moreover, they serve different drive configurations such as front-wheel drive, rear-wheel drive, and other drive types. Materials used in manufacturing automotive drive shafts encompass aluminum, steel, and carbon fiber. These products are distributed through various sales channels, including OEM and aftermarket outlets.

The automotive drive shaft market research report is one of a series of new reports that provides automotive drive shaft market statistics, including automotive drive shaft industry global market size, regional shares, competitors with an automotive drive shaft market share, detailed automotive drive shaft market segments, market trends and opportunities, and any further data you may need to thrive in the automotive drive shaft industry. This automotive drive shaft market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Asia-Pacific was the largest region in the automotive drive shaft market in 2024, and it is also expected to be the fastest-growing region in the automotive drive shaft market during the forecast period. The regions covered in the automotive drive shaft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the automotive drive shaft market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The automotive drive shaft market consists of sales of one-piece drive shaft, two-piece drive shaft and slip-in-tube drive shaft. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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