What is Constant Velocity Joint Market?
The function of constant-velocity joints, in a vehicle is to let power be transferred to the wheels from the transmission. Power is transmitted at a reliable speed of rotation though there is not much friction. You will find CV joints in virtually all front-wheel drive vehicles and most new rear-wheel drive vehicles which have a separate rear suspension. The half-shaft’ end of their rear axles will have CV joints in them. Today, about 64% of all cars world-wide are tailored with front-wheel drive, and about 13% with four-wheel drive.
The market study is being classified by Type (Fixed Joints, Plunge Joints [Tripod & Ball], Inboard Joints & Outboard Joints, Rzeppa and Tripod), by Application (Passenger Cars and Commercial Vehicles) and major geographies with country level break-up.
- Weasler Engineering BV (Netherlands), NTN Corporation (Japan), American Axle & Manufacturing, Inc. (United States), Dana Incorporated (United States), GKN plc (United Kingdom), GSP Automotive Group Wenzhou Co., Ltd. (GSP Group) (China), Hyundai WIA Corporation (South Korea), IFA Group (United States), JTEKT Corporation (Japan), Nexteer Automotive Group Limited (United States) and SKF AB (Sweden) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Wanxiang Group Corporation (China), Wonh Industries Co, Ltd. (China) and Xiangyang Automobile Bearing Co., Ltd. (China).
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail competitive advantage through combined synergies. Research Analyst at AMA predicts that Chinese Vendors will contribute to the maximum growth of Global Constant Velocity Joint market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Constant Velocity Joint market by Type, Application and Region.
On the basis of geography, the market of Constant Velocity Joint 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Demand for Automotive Sector
- Growing Demands for Improving Fuel Economy, Performance, Durability and Drivability of Vehicles
Market Trend
- Technological Advancement in Constant Velocity Joints
- Increasing Demand Due to Online Availability
Restraints
- CV Joint Itself Is Worn Out, It Cannot Be Repaired
Opportunities
- Growing Demand from Emerging Countries
Challenges
- Eventually Fail Due To Lack of Lubrication and Corrosion
Key Target Audience
Manufacturers of Constant Velocity Joints, Suppliers of Constant Velocity Joints, Wholesalers, Distributors and Retailers of Constant Velocity Joints, Automobile Industry and Raw Material Suppliers