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Global Automotive Constant Velocity Joint Market Size, Share, Growth, Trends, Forecast: By Joint Type: Tracta Joints, Rzeppa Joints, Double Coupling, Thomson Coupling; By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles; By Application; Regional Analysis; Competitive Landscape; 2024-2032
Global Automotive Constant Velocity Joint Market Outlook
The global automotive constant velocity joint market size reached a value of approximately USD 3.28 billion in 2023. The market is further projected to grow at a CAGR of 5.60% between 2024 and 2032, reaching a value of USD 5.36 billion by 2032.
Key Trends in the Market
An automotive constant velocity joint is used for connecting the vehicle’s transmission to the wheels. It is a part of the driveshaft and is primarily used on front-wheel drive vehicles and has the ability to ensure that the wheels move at a constant velocity by transmitting even levels of torque.
- The rising demand for light weight automotive materials due to increasing environmental concerns is a key trend aiding the automotive constant velocity joint market growth. Lightweight materials significantly improve the vehicle economy as they require significantly less energy and fuel and reduce emissions.
- Increasing requirement for commercial vehicles across developing countries due to increasing industrialisation and urbanisation and growing e-commerce sector is further boosting the utilisation of constant velocity joints. Commercial vehicles require high-performance differential assemblies in order to ensure smooth driving. The rising demand for transportation and delivery solutions is further boosting the production of heavy commercial vehicles, aiding the market expansion.
- Surge in demand for passenger vehicles is increasing the requirement for automotive constant velocity joints as they ensure vehicle stability and smooth power transmission. Manufactures are heavily investing in constant velocity joints to enhance their torque handling capabilities and durability to ensure vehicle safety.
Market Analysis
On the basis of joint type, the automotive constant velocity joint market segmentation includes Tracta joints, Rzeppa joints, double coupling, and Thomson coupling. Based on vehicle type, the market is segregated into passenger cars, light commercial vehicles, and heavy commercial vehicles. On the basis of application, the market is classified into commercial, logistics, and defence and aviation, among others. Based on region, the market is categorised into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global automotive constant velocity joint market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- GKN Automotive Limited
- American Axle & Manufacturing Inc.
- Hyundai Wia Corp.
- IFA Group
- Neapco Holdings LLC
- ECO SHAFT (M) SDN BHD
- NKN Ltd.
- AB SKF
- Shandong Carfree Auto Fittings CO., Ltd
- Dana Limited
- Others
Market Share by Vehicle Type
The heavy commercial vehicles segment is anticipated to witness significant growth over the forecast period owing to the increasing demand from e-commerce and food sectors for transportation and delivery services. Heavy commercial vehicles are also used for transporting agricultural and construction commodities including fertilisers, cement, and steel, among others and bulk cargo transportation. Due to such applications, the production of heavy commercial vehicles is increasing and boosting the demand for automotive constant velocity joints.
Market Share by Region
North America accounts for a significant portion of the market due to the rapid expansion of the automotive manufacturing sector in the region and rising development of constant velocity joints. Due to the rapid growth of the e-commerce sector the requirement for commercial vehicles is increasing for shipping and transportation of goods, boosting the expansion of the market in the region.
Meanwhile, due to the rising demand for passenger vehicles in various countries across Europe, the automotive constant velocity joint market is expected to witness significant growth in the region, over the forecast period.
Competitive Landscape
GKN Automotive Limited is one of the leading automotive companies known for manufacturing all-wheel drive systems, driveline components, and plug-in hybrid systems for vehicles. The company was founded in 1891 and is headquartered in London, United Kingdom.
American Axle & Manufacturing Inc. was founded in 1994 and is headquartered in Michigan, United States. The company is known for manufacturing automotive drivelines and drivetrain systems and components.
Hyundai Wia Corp. is one of the largest automotive parts manufactures across the globe. The company was founded in 1976 and is headquartered in Changwon-si, South Korea and is known for supplying automobile engines, C.V joints, and modules, among others.
Other players in the automotive constant velocity joint market include IFA Group, Neapco Holdings LLC, ECO SHAFT (M) SDN BHD, NKN Ltd., AB SKF, Shandong Carfree Auto Fittings CO., Ltd, and Dana Limited, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Joint Type |
|
| Breakup by Vehicle Type |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Automotive Constant Velocity Joint Market Analysis
8.1 Key Industry Highlights
8.2 Global Automotive Constant Velocity Joint Historical Market (2018-2023)
8.3 Global Automotive Constant Velocity Joint Market Forecast (2024-2032)
8.4 Global Automotive Constant Velocity Joint Market by Joint Type
8.4.1 Tracta Joints
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Rzeppa Joints
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Double Coupling
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Thomson Coupling
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.5 Global Automotive Constant Velocity Joint Market by Vehicle Type
8.5.1 Passenger Cars
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Light Commercial Vehicles
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Heavy Commercial Vehicles
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Automotive Constant Velocity Joint Market by Application
8.6.1 Commercial
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Logistics
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Defence and Aviation
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Others
8.7 Global Automotive Constant Velocity Joint Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Automotive Constant Velocity Joint Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Automotive Constant Velocity Joint Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Automotive Constant Velocity Joint Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Automotive Constant Velocity Joint Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Automotive Constant Velocity Joint Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 GKN Automotive Limited
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 American Axle & Manufacturing Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Hyundai Wia Corp.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 IFA Group
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Neapco Holdings LLC
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 ECO SHAFT (M) SDN BHD
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 NKN Ltd.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 AB SKF
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Shandong Carfree Auto Fittings CO., Ltd
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Dana Limited
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Automotive Constant Velocity Joint Market: Key Industry Highlights, 2018 and 2032
2. Global Automotive Constant Velocity Joint Historical Market: Breakup by Joint Type (USD Billion), 2018-2023
3. Global Automotive Constant Velocity Joint Market Forecast: Breakup by Joint Type (USD Billion), 2024-2032
4. Global Automotive Constant Velocity Joint Historical Market: Breakup by Vehicle Type (USD Billion), 2018-2023
5. Global Automotive Constant Velocity Joint Market Forecast: Breakup by Vehicle Type (USD Billion), 2024-2032
6. Global Automotive Constant Velocity Joint Historical Market: Breakup by Application (USD Billion), 2018-2023
7. Global Automotive Constant Velocity Joint Market Forecast: Breakup by Application (USD Billion), 2024-2032
8. Global Automotive Constant Velocity Joint Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Automotive Constant Velocity Joint Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Automotive Constant Velocity Joint Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Automotive Constant Velocity Joint Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Automotive Constant Velocity Joint Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Automotive Constant Velocity Joint Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Automotive Constant Velocity Joint Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Automotive Constant Velocity Joint Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Automotive Constant Velocity Joint Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Automotive Constant Velocity Joint Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Automotive Constant Velocity Joint Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Automotive Constant Velocity Joint Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Automotive Constant Velocity Joint Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 3.28 billion in 2023.
The market is projected to grow at a CAGR of 5.60% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 5.36 billion by 2032.
The major market drivers include rising vehicle production and increasing demand for lightweigt automotive constant velocity joints to produce fuel efficient vehicles.
The key trends fuelling the growth of the market include rising requirement for lightweight automotive components, increasing demand for commercial vehicles, and growing efforts of manufacturers to enhance the performance of constant velocity joints.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The various applications of automotive constant velocity joints include commercial, logistics, and defence and aviation, among others.
The key players in the market are GKN Automotive Limited, American Axle & Manufacturing Inc., Hyundai Wia Corp., IFA Group, Neapco Holdings LLC, ECO SHAFT (M) SDN BHD, NKN Ltd., AB SKF, Shandong Carfree Auto Fittings CO., Ltd, and Dana Limited, among others.
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