By the end of 2032, the market for drive shafts for automobiles is expected to be worth over $54 billion and growing at a CAGR of 4.9%.

The driveshaft of an automobile is a motorized part used to transmit torque from one end of the vehicle to the other, for example from the engine to the wheels. Steel, aluminum and carbon fiber are used to make a drive shaft for a car. Aluminum is chosen as it is strong and light as it allows balancing of the driveshafts. The result is an increase in skidding speed and a reduction in the overall weight of the vehicle.

Request a Free Sample Report @ https://www.persistencemarketresearch.com/samples/31620

Aluminum drive shafts reduce the overall weight of the car and reduce fuel consumption. As a result, these general characteristics are expected to drive the expansion of the overall Automotive Drive Shafts Market during the projection period (2022-2032).

Important insights from the market study

• By product type, solid shaft is forecast to account for more than 54% market share by 2032.
• The rear driveshaft segment is expected to hold the largest market share of more than 60% below the position segment.
• By vehicle type, passenger cars are estimated to create an absolute $10.4 billion opportunity by 2032.
• By region, East Asia is projected to have the largest share of the global market (38% market share by 2032).
• China and the US combined are expected to register an absolute $10+ opportunity from 2022 to 2032.

“The expansion of the automotive driveshaft market is expected to be positively impacted by steadily increasing investments in the automotive sector in North America and Europe, despite the slowdown in vehicle production,” says an analyst from Persistence Market Research.

Report Customization Request @ https://www.persistencemarketresearch.com/request-customization/31620

market landscape

Automakers are working tirelessly to…