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Drive Shaft Market is Predicted to Reach USD 9.45 Billion

#Drive #Shaft #Market #Predicted #Reach #USD #Billion

New York, US, Oct. 26, 2022 (GLOBE NEWSWIRE) — According to the research reports by MRFR, Drive Shaft Market Research Report, Information: by Design, Vehicle Type, and Region – Forecast till 2030, the drive shaft market is predicted to thrive substantially during the assessment timeframe from 2021 to 2030 at a healthy growth rate of approximately 6.40%. The report anticipates the market to attain a valuation of around USD 9.45 billion by the end of 2030.

Drive Shaft Market Overview:

A driveshaft refers to an essential piece of a vehicle driveline. It is a turning tube interfacing with the back of the transmission and sends the turning power starting in the motor to the vehicle’s rear at the differential. A driveshaft is used for transporting the force from the grasp and transmission, as predicted, to a driving hub or to raise the pivot of the vehicle. The drive shaft operates like a medium to move the power generated by the motor to the wheels, encouraging them to turn and drive the car. The driveshafts are manufactured with direct remittance for some trim level of development at the areas where the driveshafts are linked with support under a curving or turning movement.

Competitive Analysis

The list of prominent participants across the global market for drive shafts includes players such as:

  • GKN PLC (UK)
  • Yamada Manufacturing Co., Ltd. (Japan)
  • Advanced Composite Products & Technology, Inc.
  • Trelleborg AB (Sweden)
  • ACPT, Inc. (US)
  • NTN Corporation (Japan)
  • American Axle & Manufacturing Holdings, Inc. (US)
  • Ifa Rotorion – Holding GmbH (Germany)
  • Neapco Holdings, LLC (US)
  • The Timken Company (US)
  • Dana Holding Corporation (US)

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Furthermore, a drive shaft enables the capacity with a hub and CV joint and allows force exchange from the transmission to the wheels. This enables the vehicle to be driven at the expected speed. The global market for drive shafts has…

Read on GNW: Drive Shaft Market is Predicted to Reach USD 9.45 Billion

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