Global Automotive Constant Velocity Joint Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

By Vehicle Type;

Passenger cars and Commercial vehicles.

By Propulsion;

ICE, Electric and Hybrid, and Others.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa, and Latin America - Report Timeline (2020 - 2030).
Report ID: Rn331579032 Published Date: May, 2024 Updated Date: June, 2024

Introduction

Global Automotive Constant Velocity Joint Market (USD Million), 2020 - 2030

In the year 2023, the Global Automotive Constant Velocity Joint Market was valued at USD 4,861.75 million. The size of this market is expected to increase to USD 5,661.72 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 2.2%.

The Global Automotive Constant Velocity Joint (CV joint) Market is a dynamic sector within the automotive industry, crucial for the efficient transmission of power from the engine to the wheels. CV joints play a pivotal role in ensuring smooth rotation and power delivery, particularly in vehicles with front-wheel drive and all-wheel drive configurations. As automotive technology continues to evolve, the demand for advanced CV joint solutions that offer enhanced durability, efficiency, and performance is on the rise.

One of the primary drivers of the automotive CV joint market is the growing production and sales of passenger cars and commercial vehicles worldwide. With increasing urbanization and rising disposable incomes in emerging economies, there has been a significant surge in automotive sales, thereby propelling the demand for CV joints. Stringent emissions regulations and fuel efficiency standards have led automotive manufacturers to focus on lightweight and efficient drivetrain components, further boosting the adoption of advanced CV joint technologies.

Traditional internal combustion engine vehicles, the market for automotive CV joints is witnessing a notable expansion driven by the rapid growth of electric and hybrid vehicles. Electric propulsion systems require specialized CV joints to accommodate the unique torque characteristics and operating conditions of electric motors, presenting new opportunities for market players. Ongoing developments in autonomous driving technology and the increasing integration of electronic stability control systems are expected to influence the design and functionality of CV joints in the foreseeable future.

The automotive CV joint market faces certain challenges, including intense competition, pricing pressures, and the need for continuous innovation to meet evolving performance requirements. Manufacturers are increasingly investing in research and development activities to develop next-generation CV joint solutions with features such as improved sealing, reduced friction, and enhanced durability.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Vehicle Type
    2. Market Snapshot, By Propulsion
    3. Market Snapshot, By Region
  4. Global Automotive Constant Velocity Joint Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Increasing Vehicle Production
        2. Rising Demand for Passenger Cars
        3. Increasing Adoption of All-Wheel Drive (AWD) Systems
      2. Restraints
        1. Stringent Regulations
        2. Availability of Alternative Technologies
        3. Supply Chain Disruptions
      3. Opportunities
        1. Focus on Lightweight Materials
        2. Growing Demand for Electric Vehicles
        3. Aftermarket Sales and Services
        4. Partnerships and Collaborations
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Automotive Constant Velocity Joint Market, By Vehicle Type, 2020 - 2030 (USD Million)
      1. Passenger cars
      2. Commercial vehicles
    2. Global Automotive Constant Velocity Joint Market, By Propulsion, 2020 - 2030 (USD Million)
      1. ICE
      2. Electric and Hybird
      3. Others
    3. Global Automotive Constant Velocity Joint Market, By Geography, 2020 - 2030 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. AB SKF
      2. American Axle & Manufacturing Inc
      3. Dana Inc.
      4. Guangzhou Hongzhou Auto Parts Co. Ltd
      5. Melrose Industries Plc
      6. Neapco Holdings LLC
      7. Nexteer Automotive Corp
      8. Zhejiang ODM Transmission Technology Co. Ltd
  7. Analyst Views
  8. Future Outlook of the Market