Drive Shaft Market - Forecast 2020 - 2025
Overview The drive shaft (driveshaft, driving shaft, tailshaft, propeller shaft, or Cardan shaft) Market is forecast to reach $8.76.1 billion by 2025, after growing at a CAGR of 7.12% during 2020-2025. The growth of the market is attributed to the growing concern towards the fuel efficiency coupled with strict government regulation regarding emission control, which has caused the launch of new BS-6 vehicles. The heavy adoption of environment friendly vehicles in the developed countries and consequent increase in production of these vehicles has allowed high deployment of drive shaft in the new vehicles thereby contributing towards the growth of the market. Another major reason contributing towards the growth of the Drive Shaft market is growing demand and consequent sales of all-wheel drive (AWD) vehicles, as two drive shaft are deployed in each vehicle. The demand of such advanced vehicles coupled with stringency and emission control regulations are anticipated to raise the growth of ...