Global
Automotive Drive Shaft Motor Market is expected to witness significant demand
over the forecast period. Side shafts play a vital role in the operation of any
vehicle. It warrants optimum delivery of power to the wheels of the vehicle.
Based on the position and application, the side shaft aids the function of
comfortable driving, accommodating steering and suspension vibrations. The
lightweight automotive components market is majorly driven by tough regulations
from government in order to meet fuel-efficiency demands of end-users coupled
with an increase in fuel prices. The design of side shafts is such that it
maintains minimum weight, without negotiating on its NVH accommodation
characteristics and performance, owing to the property of these components to
handle harsh working conditions including optimizing fuel-efficiency and
mechanical wear and tear.
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On
the basis of available types in the market, this report covers forecasting till
2024 and qualitative and quantitative market sizing for rigid and hollow market
for key countries in North America, Europe, Asia-Oceania. Additionally, the
report includes market sizing and forecast on the basis of position such as
front and rear, and vehicle type such as passenger car, including sedans,
hatchbacks, LCV, and SUV/MUV/MPV. Automotive side shafts have evolved on the
basis of performance requirement of vehicle applications. In the light
commercial vehicles segment, hollow side shafts are slowly gaining prominence
and preference over rigid sideshafts. The major motives for this shifting
preference is increasing demand for vehicle performance, fuel efficiency, and
increasing comfort levels offered by the hollow sideshafts. Several OEMs have
been adopting efficient technologies to comply with various regional emission
norms in the developed economies.
The
growing vehicle production, increase in fuel efficiency provided by these
sideshafts, enhanced driving experience and stringent carbon emission
regulations and norms have driven the growth of the global automotive sideshaft
market. However, the market is restrained by fluctuating prices of raw materials
used to produce the automotive sideshafts in high-volumes. Suppliers are
concentrating on developing products and globalization to comply with the
present and upcoming emission norms. Suppliers are closely working with OEMs
and local partners to develop new technologies and save development costs. This
is done by offering efficient technologies in the sideshaft market for this
purpose. Producers of sideshafts are working towards offering cost-efficient
solutions without negotiating on the performance of the vehicle through their
product offerings.
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