USD 3.9 billion
Global Automotive Constant Velocity Joint Market Size, Share, Growth Analysis, By Type(Inner CV Joints, Outer CV Joints), By Application(Passenger Cars, Commercial Vehicles), By Product Type(Fixed Outer CV Joints, Sliding Outer CV Joints) - Industry Forecast 2024-2031
Report ID:
SQMIG25A2185 |
Region:
Global |
Published Date: February, 2024
Pages:
223
|
Tables:
92 |
Figures:
75
Global Automotive Constant Velocity Joint Market Insights
Global Automotive Constant Velocity Joint Market size was valued at USD 3.9 billion in 2021 and is poised to grow from USD 4.09 billion in 2022 to USD 6 billion by 2030, growing at a CAGR of 4.9% in the forecast period (2023-2030).
The global Automotive Constant Velocity Joint market has been experiencing steady increase in recent years. CV joints are essential components inside the car industry, usually used in vehicles drivetrain systems. They play a critical role in keeping a steady velocity and making sure easy energy transmission between the engine and wheels.
Additionally, the worldwide boom in car production and sales is a key motive force for the CV joint market. As greater automobiles are manufactured and offered globally, the call for for CV joints additionally rises. Ongoing improvements in car era, which includes the improvement of electrical and hybrid motors, impact the design and necessities of CV joints. Manufacturers are that specialize in producing advanced, durable, and efficient CV joints to meet the evolving needs of current cars.
Market snapshot - 2023-2030
Global Market Size
Largest Segment
Fixed Outer CV Joints
Fastest Growth
Ball-type Inner CV Joints
Growth Rate
4.9% CAGR
Global Automotive Constant Velocity Joint Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Automotive Constant Velocity Joint Market By Type ($ Bn)
Global Automotive Constant Velocity Joint Market By Type (%)
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Global Automotive Constant Velocity Joint Market Segmental Analysis
The global Automotive Constant Velocity Joint market is segmented into four major segments i.e. by Type, Application Segmentation, Product Type Segmentation, and region. Based on Type, it is divided into Inner CV Joints, Outer CV Joints, and other innovative formats. Based on Application, it is bifurcated as Passenger Cars, Commercial Vehicles, Off-road Vehicles. Based on Product Type it is segregated into, Fixed Outer CV Joints, Sliding Outer CV Joints, Ball-type Inner CV Joints, Tripod-type Inner CV Joints, Double Offset CV Joints. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
Analysis by Type
Fixed outer CV joints are commonly used in lots of conventional front-wheel-drive automobiles. As the automotive industry continues to produce a vast range of the front-wheel-pressure cars, the demand for constant outer CV joints is possibly to stay strong. Moreover, these joints are often utilized in various commercial automobiles, similarly contributing to their marketplace dominance.
Ball-type internal CV joints are recognized for his or her performance and compact design. With the automobile enterprise's continuous consciousness on light-weight and fuel-efficient cars, ball-kind inner CV joints can also revel in boom. Additionally, these joints are often preferred in electric powered and hybrid vehicles due to their easy operation and decreased friction, aligning with the fashion in the direction of alternative propulsion systems.
Analysis by Application
Passenger motors commonly have a better manufacturing quantity compared to other car sorts, contributing drastically to the call for for CV joints. The dominance of passenger motors may be attributed to the massive use of the front-wheel-drive systems in these vehicles, where CV joints are crucial additives. Additionally, the increasing global center-elegance populace and urbanization are using the call for for passenger vehicles, in addition supporting the dominance of this segment.
As the car industry undergoes a transition towards electric powered mobility, the call for for CV joints in electric cars is anticipated to grow rapidly. Electric motors often have specific drivetrain configurations, and their layout issues, which include light-weight and efficiency, might also lead to specific requirements for CV joints. The boom of the electric vehicle marketplace, pushed through environmental concerns and government guidelines, is probable to propel the call for for CV joints tailored for electric powered propulsion structures.
Global Automotive Constant Velocity Joint Market By Type, 2021 (%)
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Global Automotive Constant Velocity Joint Market Regional Insights
Asia-Pacific has been a dominant pressure in the worldwide car enterprise, housing key car manufacturing hubs which include China, Japan, South Korea, and India. The area's dominance is driven with the aid of the excessive manufacturing quantity of motors, both for domestic markets and export. The developing middle-class population, urbanization, and growing customer purchasing power in countries like China and India contribute considerably to the demand for cars and, consequently, automotive components like CV joints.
Latin America is expected to experience boom, driven by way of factors consisting of improving economic conditions, rising disposable income, and the need for green transportation systems. As the car marketplace expands in international locations like Brazil and Mexico, the demand for CV joints is anticipated to grow. Additionally, growing investments in infrastructure projects and the replacement demand for getting old vehicles make contributions to the vicinity's increase possibilities.
Global Automotive Constant Velocity Joint Market By Region, 2023-2030
- Largest
- Fastest
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Global Automotive Constant Velocity Joint Market Dynamics
Drivers
Increasing Expansion Of The Global Automotive Industry
- The continuous expansion of the worldwide automotive industry serves as a primary driving force, with an growing production and sales of vehicles throughout various segments. As the call for for automobiles rises, so does the want for critical components like CV joints, which play a critical role in making sure the clean operation of drivetrain systems.
Restraints
High Cyclical Nature Of The Automotive Industry
- One of the main market restraints is the cyclical nature of the car industry, that's at risk of financial downturns. During intervals of monetary uncertainty, purchasers have a tendency to defer vehicle purchases, affecting standard call for for CV joints. Additionally, the volatility in uncooked fabric fees poses a restraint as CV joint production includes materials like metal and alloys; fluctuations in charges can impact manufacturing prices and earnings margins.
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Global Automotive Constant Velocity Joint Market Competitive Landscape
The competitive environment of the Automotive Constant Velocity Joint marketplace is dynamic and is characterised through a dynamic interaction amongst key gamers striving for marketplace percentage and innovation. Established companies in this sector have interaction in non-stop studies and improvement efforts to beautify product services, incorporating superior materials and production procedures. Market players often consciousness on strategic partnerships and collaborations to reinforce their foothold in various regions and cater to diverse patron demands.
Top Player’s Company Profiles
- NTN Corporation
- Meritor
- Wanxiang Group
- Dana Incorporated
- Nexteer Automotive
- Hyundai WIA Corporation
- JTEKT Corporation
- SKF
- IFA Group
- Seohan Group
- Neapco Holdings LLC
- Guansheng
- Feizhou Vehicle
- Heri Automotive
- Xiangyang Automobile Bearing
- NKN Co. Ltd.
- Zhejiang ODM Transmission Technology Co., Ltd.
Recent Developments
- January 2023: Kalyani Mobility Drivelines (KMD), a producer of driveline additives, has unveiled a series of consistent-pace (CV) driveshafts tailor-made for Electric Vehicles (EVs) and different specialized cars. Crafted from high-electricity metallic, KMD's CV driveshafts are optimized to supply top performance, particularly under the high torque situations prevalent in EVs, navy, uniqueness, and motorsports cars.
- October 2023: GSP North America, a outstanding producer and distributor inside the car aftermarket, reveals the launch of a brand new CV axle line tailor-made for late-model imports.
Global Automotive Constant Velocity Joint Key Market Trends
- Rising Focus On Sustainability And Efficiency: The growing focus on sustainability and performance, pushed with the aid of international efforts to lessen carbon emissions. This has led to a developing call for for CV joints that align with the necessities of electric and hybrid vehicles, which, in flip, is influencing improvements in joint design and substances to enhance overall performance and sturdiness. Another sizeable trend is the surge in call for for light-weight components throughout the automobile sector. As producers strive to enhance gas efficiency and general vehicle performance, there is a heightened emphasis on growing light-weight CV joints.
Global Automotive Constant Velocity Joint Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Global Automotive Constant Velocity Joint marketplace analysis reveals a dynamic market with some of standout traits and difficulties. The market is propelled with the aid of increasing vehicle production globally and the demand for green drivetrain structures. However, economic cyclicality, uncooked material rate fluctuations, and the complexity of cutting-edge vehicles restrain boom. Inner and outer CV joints dominate the product kinds.
Asia-Pacific leads the regional marketplace because of robust automotive manufacturing, whilst Latin America suggests ability boom. Key market traits encompass the emphasis on lightweight answers, integration of clever technologies, and a developing aftermarket pushed by the DIY repair fashion.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 3.9 billion |
| Market size value in 2030 | USD 6 billion |
| Growth Rate | 4.9% |
| Base year | 2023 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Automotive Constant Velocity Joint Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Automotive Constant Velocity Joint Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Automotive Constant Velocity Joint Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Automotive Constant Velocity Joint Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Automotive Constant Velocity Joint Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Automotive Constant Velocity Joint Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Automotive Constant Velocity Joint Market Report Snapshots
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