Automotive Half Shafts: Introduction

  • The trend of electrification and light-weighting across the globe is expected to shape the automotive half-shaft market. Changes in design of drive-units with electric motors and increase in stringency in emission norms are pressing automakers to develop and innovate drive shafts
  • Automotive Half Shafts are mechanical components used to transmit the torque from the differential to the wheels

Key Drivers and Restraints of Global Automotive Half Shafts Market

  • Global car sales rose from 77.3 million units in 2016 to around 78.6 million units in 2018. Increase in vehicle sales due to economic growth in developing countries drives the global automotive half shafts market.
  • Rise in demand for all-wheel-drive (AWD) vehicles is projected to boost demand for drive shafts. This in turn is anticipated to propel the automotive half shafts market. The U.S. is the leading manufacturer of AWD vehicles; however, a similar trend has been observed across the world, with Japan and China emerging as production hubs for AWD vehicles.
  • Sales of AWD vehicles are increasing, as automakers focus on delivering fuel-efficient vehicles due to rise in consumer demand for higher fuel economy and government regulations stressing on lower vehicle emissions
  • Rise in vehicle production in Mexico and Brazil due to competitive production cost, favorable trade agreements with foreign countries, and rise in domestic demand is expected to boost the automotive half shafts market in Latin America

Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report

Drive Shafts Segment to Expand at High CAGR

  • The automotive industry is shifting from two wheel drive (2WD) to AWD and four wheel drive (4WD) vehicles. Hence, drive shafts are witnessing higher demand and are replacing axle shafts. The drive shafts segment is likely to expand at a high CAGR during the forecast period. Rise in preference for AWD and 4WD SUVs and CUVs boosts demand for drive shafts.

Passenger Vehicles to Witness Significant Demand

  • Sales of passenger vehicles have been higher than commercial vehicles across the globe. Hence, the passenger vehicles segment is projected to dominate the global automotive half shafts market.
  • Light commercial vehicle sales were earlier concentrated only in North America and Europe. However, rise in business opportunities and establishment of industries in Asia Pacific and Latin America have driven sales of light commercial vehicles in these region. This in turn increases demand for automotive Half Shafts.

Aftermarket Segment to Account for Leading Share of Global Market

  • The aftermarket segment is anticipated to account for significant share of the global automotive half shafts market. The average age of cars has increased to about 11 years globally. The U.S. and China recorded 250 million and 350 million vehicles on road, respectively, in 2018. Rise in the number of on road vehicles has expanded the scope of maintenance and replacement. This is likely to augment the aftermarket segment.

Asia Pacific to Lead Global Automotive Half shafts Market

  • In terms of region, the global automotive half shafts market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Emergence of Asia Pacific as a production hub with low-cost manufacturing and high domestic demand is set to drive the global automotive half shafts market. China, Japan, and India hold key positions in the global automotive half shaft market
  • Asia Pacific was followed by Europe and North America. Economic recovery in Europe and North America has boosted vehicle sales in these regions, which in turn augments the automotive half shafts market.

Looking for Regional Analysis or Competitive Landscape in Automotive Half Shafts Market, ask for a customized report

Key Manufacturers Operating in Global Market

The global automotive half shafts market was highly fragmented in 2018. Key manufacturers operating in the global market are:

  • American Axle & Manufacturing, Inc.
  • Nexteer Automotive
  • Showa Corporation
  • Neapco, Inc.
  • GKN plc
  • Dana Incorporated
  • JTEKT Corporation

Global Automotive Half Shafts Market, by Half Shaft Type

  • Drive Shafts
  • Axle Shafts

Global Automotive Half Shafts Market, by Vehicle Type

  • Passenger Vehicles
  • Commercial Vehicles
  • Heavy Commercial Vehicles
  • Light Commercial Vehicles

Global Automotive Half Shafts Market, by Sales Channel

  • OEM
  • Aftermarket

Global Automotive Half Shafts Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.


Automotive Half Shafts Market

Pre Book