According to Goldstein Research, global automotive drive shaft market is expected to reach USD 9.4 billion by 2024 from USD 5.6 billion in 2015, growing at a CAGR of 6.6% over the forecast period through 2024. The major driving factors in the growth of global automotive drive shaft market is the growing sales of vehicles across the globe backed by improving socio-economic conditions in developing countries and growing personal disposable income led the consumers to spend more on vehicles purchase.

Global automotive drive shaft market segmentation has been carried out on the basis ofproduct type, vehicle type and position type. Passenger car segment acquired the largest market share. Passenger cars soldin 2015 increased by nearly 4% with majority of SUVs and crossovers, in China and Europe automotive market. Global automotive drive shaft market is majorly driven by Asia-Pacific with more than 40% market share of sales. China remains the strong market in region with 7% y-o-y growth. Asia-Pacific region is closely followed by the Europe with increase in sales by 6% in 2016 compared to 2015.

Market Segmentation
On the basis of our in-depth analysis, Global Automotive Drive ShaftMarket can be segmented as follows:

By Product Types
o Flexible Drive-Shaft
o Torque Tube Drive-Shaft
o Hotchkiss Drive-Shaft
By Vehicle Type
o Passenger Cars
o LCV (Light Commercial vehicles)
o HCV (Heavy Commercial vehicles)
By Region
o North America (US, Canada) {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
o Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Rest of the World {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}

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“Global Automotive Drive Shaft MarketOutlook 2024” by Goldstein Research contains detailed overview of the globalautomotive drive shaft market in terms of market segmentation by product type, by vehicle type and by position type.

Further, Global Automotive Drive ShaftMarket Report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such asNTN Corporation, Hyundai WIA Corporation, NKN Ltd., Nexteer Automotive, GKN Plc, IFA Rotorion, Axle Manufacturing Inc., Dana Incorporated, XuchangYuangdong,etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.

Overall, the report represents the global automotive drive shaft market trends along with market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

The Report is Available @ https://www.goldsteinresearch.com/report/global-automotive-drive-shaft-market-outlook-2024-global-opportunity-and-demand-analysis-market-forecast-2016-2024

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