Report Ocean recently released a research report on the Automotive Constant Velocity Joint Market, which covers the market’s historical growth, cost structure, revenue, trends, and potential prospects for the period 2023-2031. The report provides an extensive coverage of the market across various categories and includes a detailed analysis at the national level, along with an evaluation of the key drivers, restraints, trends, and opportunities in the market.
The global automotive constant velocity joint market revenue was around US$ 3 billion in 2021 and is estimated to reach US$ 4.9 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.3% during the forecast period from 2022 to 2031.
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The term “constant velocity joint” (CV joint) refers to a part put on a drive shaft that enables the drive shaft to transmit power across a varied angle while maintaining a constant rotating speed. It is found in all-wheel and front-wheel drive vehicles.
Factors Influencing Market Growth
Vehicle production and sales are rising in several developing nations, which is anticipated to stimulate the market.
The desire for lightweight constant velocity joints and the demand for commercial vehicles are the two main reasons propelling the growth of the automotive constant velocity joint market.
Installation problems and varying costs for the raw materials required to make CV joints are predicted to impede the market growth.
Study of the COVID-19 Pandemic
The COVID-19 pandemic had a negative impact on the market. Due to the Government enacted a lockdown global supply chains and sales of equipment were halted. However, vaccinations made it possible to ease restrictions on commerce, as well as travel both domestically and abroad. After the removal of the limits, travel swiftly recovered, leading to an increase in vehicle commutation, which is anticipated to drive growth in the market for automotive constant velocity joints.
Regional Insights
Asia-Pacific dominated the market in terms of revenue. Due to the robust expansion of the automotive industry across all categories and rising consumer preference for improvements in fuel-efficient automobiles. These factors fuel the market in this region.
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Leading Competitors
The leading competitors in the global automotive constant velocity joint market are:
GKN
American Axle Manufacturing Holdings Inc
Hyundai WIA Corporation
IFA Rotorion
Nanyang Automobile & Cycle Group
Neapco Holdings LLC
Nexteer Automotive NA
NKN Co. Ltd
NTN Corporation
Shandong Huifeng Auto Fittings Co
SKF
Taizhou Hongli Automobile Parts Co. Ltd
Wanxiang Qianchao Co. Ltd
Zhejiang ODM Transmission Technology Co. Ltd
ZWZ
Others
Segmentation Analysis
The global automotive constant velocity joint market segmentation focuses on Joint Type, Distribution Channel, Vehicle Type, Propulsion and Region.
Segmentation based on Joint Type
Rzeppa Joints
Tripod Joints
Others
Fixed and Plunge Joints
Segmentation based on Distribution Channel
OEM
Aftermarket
Segmentation based on Vehicle Type
Passenger Car
Light Commercial Vehicle
Heavy Commercial Vehicle
Segmentation based on Propulsion
ICE
Electric and Hybird
Others
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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Table of Content
Chapter 1: Global Automotive Constant Velocity Joint Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Automotive Constant Velocity Joint market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Automotive Constant Velocity Joint Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Automotive Constant Velocity Joint market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Automotive Constant Velocity Joint market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Automotive Constant Velocity Joint market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Automotive Constant Velocity Joint market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Automotive Constant Velocity Joint business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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