Automotive Communication Technology Market Report 2025

This report covers market characteristics, size and growth, segmentation, regional and 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 constant velocity joint market size has grown strongly in recent years. It will grow from $3.69 billion in 2024 to $3.94 billion in 2025 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to vehicle production growth, expansion of automotive aftermarket, rise in global automotive sales, shift toward front-wheel-drive vehicles, increasing preference for fuel efficiency.

The automotive constant velocity joint market size is expected to see strong growth in the next few years. It will grow to $5 billion in 2029 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to electric and hybrid vehicle adoption, demand for compact and lightweight CVJS, globalization of automotive manufacturing, evolving suspension systems, autonomous and connected vehicle trends. Major trends in the forecast period include rising interest in all-wheel and four-wheel drive systems, continued globalization of automotive supply chains, integration of smart sensors for predictive maintenance, focus on environmental sustainability, adoption of CVJS in autonomous vehicles.

The rising demand for commercial vehicles is expected to drive the growth of the automotive constant velocity (CV) joint market in the coming years. Commercial vehicles, used for business purposes, the transportation of goods, or service provision, include trucks and delivery vehicles, which increase the demand for CV joints. These joints are essential for transmitting power from the vehicle's transmission or differential to the wheels, enhancing driving comfort and stability. For example, in 2022, according to GoodCarBadCar, a U.S.-based online resource, around 56.5 million passenger cars were sold globally, representing a 1.9% increase compared to the previous year. Thus, the rising demand for commercial vehicles will support the growth of the automotive CV joint market.

The increasing popularity of recreational vehicles (RVs) is anticipated to drive the growth of the automotive constant velocity joint market in the future. Recreational vehicles, used for travel, leisure, and temporary accommodation, rely on automotive CV joints to enable smooth and efficient power transfer from the engine to the wheels, ensuring reliable propulsion. For instance, in April 2022, Cover4Caravans, a UK-based caravan insurance broker, reported that approximately 755,000 touring caravans and motorhomes are in regular use in the UK, a number expected to rise to 889,466 by 2030 - a projected 18% increase over the next seven years. Consequently, the rising popularity of recreational vehicles is driving growth in the automotive CV joint market.

Leading companies in the Automotive Constant Velocity Joint Market are concentrating on developing innovative products, such as CV axles, to enhance vehicle performance, boost fuel efficiency, and reduce vibrations. CV axles, or constant velocity axles, are critical components in a vehicle's drivetrain that connect the transmission to the wheels, enabling smooth power transfer while accommodating the suspension's vertical movement. For instance, in September 2023, GSP Inc., a U.S.-based manufacturing company, introduced the Performance Revolution Axle Line, designed to withstand demanding conditions. This product features a high-performance CV boot and clamp for enhanced durability, a proprietary import spline design, and an oxidized coating that ensures maximum corrosion resistance. Each axle includes all necessary installation hardware, offering users a hassle-free experience while maintaining the premium quality expected of automotive components.

In April 2022, American Axle and Manufacturing Holdings Inc., a leading US-based manufacturer of automotive driveline and drivetrain components, completed the acquisition of Tekfor Group for $147.5 million (€125 million). Through this strategic acquisition, American Axle and Manufacturing Holdings Inc. intends to leverage its core strengths, explore synergies, diversify its geographic presence, and enhance its portfolio of electrification products. Tekfor Group, based in Germany, specializes in manufacturing constant velocity joints (CVJ) for automotive applications.

Major companies operating in the automotive constant velocity joint market report are JTEKT Corp., Wanxiang Group Corporation, Dana Inc., SKF AB, GKN Automotive Ltd., Hyundai WIA Corporation, American Axle and Manufacturing Holdings Inc., NTN Corp., The Timken Company, Nexteer Automotive Group Ltd., Trelleborg AB, IFA Holding GmbH, Xiangyang Automobile Bearing Co. Ltd., GSP Automotive Group Wenzhou Co. Ltd., Wonh Industries Co Ltd., C&U Americas LLC, Aikoku Alpha Corporation, Nuova Tecnodelta Spa, Hartford Technologies Inc., Taizhou Heri Auto Parts Co. Ltd., Shandong Kaifurui Auto Parts Co. Ltd., Eco Shaft (M) Sdn Bhd, Falga Srl, Nanyang Automobile And Cycle Group, Zhejiang Feizhou Vehicle Industry Co. Ltd., Shandong Huifeng Auto Fittings Co, Heri Automotive Inc., Wenzhou Guansheng Auto Parts Manufacture Co.Ltd.

North America was the largest region in the automotive constant velocity joint market in 2024. The regions covered in the automotive constant velocity joint market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the automotive constant velocity joint market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The automotive constant velocity joint market consists of sales of CV joint assemblies and CV joint lubrication tools. 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 automotive constant velocity joint market is driven by various factors, including the need for stable and smooth power transfer in vehicles equipped with front-wheel drive (FWD), all-wheel drive (AWD), and independent suspension systems. This essential mechanical component transmits torque and rotation between two shafts at varying angles while ensuring a consistent velocity output.

Key types of automotive constant velocity joints in the market include Rzeppa joints, tripod joints, fixed and plunge joints, and others. Rzeppa joints, for instance, consist of components such as an inner race, an outer race, and a set of ball bearings arranged in a cage. They find applications in the outer joints of front-wheel-drive vehicles, thanks to their capability to handle different angles. These joints are utilized across various vehicle types, including those with internal combustion engines (ICE) and electric or hybrid propulsion systems, serving both original equipment manufacturers (OEMs) and the aftermarket.

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

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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