Global Automotive
Drive Shafts Market: Overview
The automotive drive
shafts market across the globe is anticipated to witness a stable
growth during the forecast period from 2016 to 2024. Automotive drive
shafts are mechanical components used for transferring torque from
the engine to the other end of the vehicle before it reaches the
wheels. These components are automotive drive shafts made up of
steel, aluminum and carbon fiber. Automotive drive shafts made of
aluminum are light and sturdy at the same time which enables the
drive shafts to be balanced, produce more rotating speed and also
reduces the overall weight of the vehicle. Aluminum drive shafts are
light and sturdy, enabling the overall weight of the vehicle to be
light and require less fuel. Aluminum drive shafts are also more
balanced and produces more rotating speed. Steel drive shafts are
very heavy and requires a lot of horsepower to transmit torque and
rotate. It makes the overall weight of the vehicle very heavy,
requiring more fuel to run.
Global Automotive
Drive Shafts Market: Segmentation
By types, the market
has been segmented into hotchkiss drive shafts, flexible drive shafts
and torque tube drive shafts. Hotchkiss drive shafts are the most
popular form of shafts used for rear axle suspension and are commonly
found in heavy commercial vehicles and passenger cars. Flexible drive
shaft types have high longevity and permits continuous rotation in
vehicles even at high speed. These are mostly found in passenger cars
and light commercial vehicles. Use of torque tube drive shaft is
comparatively less widespread than hotchkiss drive shaft system and
flexible drive shaft system. It is mostly found in heavy commercial
vehicles with front engine and rear drive. Torque tube drive shaft
types are typically heavier and produces greater up sprung weight on
the vehicle. The automotive drive shafts can also be judged based on
their position which in turn depends on whether the vehicle is Front
Wheel Drive (FWD) or Rear Wheel Drive (RWD). Front Wheel Drive
vehicles are always the preferred choice since they are more fuel
efficient and weigh less enabling the vehicle to be aerodynamic. The
FWD vehicles also cost less compared to RWD vehicles, therefore their
production and use is higher. In recent years, all the passenger cars
and light commercial vehicles are FWD and their drive shafts are
placed likewise. This positioning also protects the vehicles in case
of accidents.
Global Automotive
Drive Shafts Market: Drivers and Restraints
The report also
discusses the demand inducing and demand restraining factors. The
main drivers have been identified to be the rise in production of
vehicles and depreciation of drive shafts whose replacement is
supported by an efficient after sales services sector. The global
automotive industry is in a reviving phase and is expected to show
promising performance over the forecast period. APAC is the largest
producer of automotive and is likely to maintain its dominance the
forecast period. In recent years the APAC region has witnessed
notable performance in terms of its GDP and development of its
automobile and automotive parts industry. India, Singapore, South
Korea, and Thailand, among other countries in APAC have high growth
potential. This region has also experienced a sudden rise in
disposable income, enhancing the affordability of passenger cars.
Use of electric
vehicles however, is expected to reduce the need for drive shafts
since they run on battery which are charged by electric power.
Therefore, this factor is anticipated to pull down the growth of the
automotive drive shafts market.
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