About Side Shaft-
Side shafts are also known as half shafts or intermediate shafts or Constant velocity (CV) shafts. A side shaft is primarily a drive axle. It comes in pairs. It is called half shaft because it does half of the job, extending from differential or transaxle. It is commonly found in front-wheel-drive vehicles, although it can also be used in rear-wheel-drive and all-wheel-drive vehicles. Side shafts are designed to optimize vehicle performance, improve fuel efficiency, and enhance driving experience.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.2% |
Competition among existing players is due to the side shaft market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for side shaft Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Side Shaft- market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
GKN (United Kingdom), JTEKT (Japan), Nexteer (United States), NTN (Japan), Neapco (India), Hyndai-Wia (South Korea), Wanxiang (China), KOFCO (China), Guansheng (China), Schmiedetechnik Plettenberg Co. (Germany) and ELBE Gelenkwellen-Service GmbH (Germany) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Dana Limited (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Side Shaft- market by Type (Hollow Side Shaft and Rigid Side Shaft) and Region.
On the basis of geography, the market of Side Shaft- has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Position, the sub-segment i.e. Rear Shaft (Semi-Floating, Full-Floating, Others) will boost the Side Shaft- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Vehicle Type, the sub-segment i.e. Commercial Vehicle will boost the Side Shaft- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material, the sub-segment i.e. Stainless Steel will boost the Side Shaft- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. OEM will boost the Side Shaft- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing focus on fuel economy and lower emission.
Market Growth Drivers:
The rising demand for passenger vehicle., Increasing government initiatives towards infrastructure development. and Rising preference for all-wheel drive vehicle.
Challenges:
Intense competitions among manufacturers puts pressure on pricing and profitability.
Restraints:
Increased vehicle weight and fluctuating prices of raw material.
Opportunities:
Advancement in material technology.
Market Leaders and their expansionary development strategies
In November 2021, Regal Rexnord, a global leader in the engineering and manufacturing of industrial powertrain solutions, power transmission components, electric motors and electronic controls, and specialty electrical components and systems, today announced that it has completed the strategic acquisition of Arrowhead Systems. Strategically, Arrowhead is everything Regal Rexnord looks for in an acquisition. It increases exposure to attractive, high-growth end applications. In addition, its highly engineered products and solutions, including digital capabilities, are differentiated and highly valued by its customers.
In January 2023, Igus, a major global manufacturer of engineered components that extend machine life, has launched a new double-shaft stepper motor for its drylin linear technology. This innovation provides an easy introduction to automation solutions. The double-shaft design allows precise control over linear motion, enabling a range of automation, transfer station, and format adjustment applications.
Key Target Audience
Manufacturers Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations, End-Use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.