Carbon Fiber Driveshaft Market Size, Share, Growth, and Industry Analysis, By Type (hollow shafts and solid shafts), By Application (passenger vehicles, commercial vehicles, industrial vehicles, military vehicles and others.), Regional Insights, and Forecast To 2032

• 

   Request a Free Sample To Get More Information on this Market

CARBON FIBER DRIVESHAFT MARKET REPORT OVERVIEW

Global Carbon Fiber Driveshaft Market size was USD 0.77 Billion in 2023 and market is projected to touch 1.38 Billion by 2032, exhibiting a CAGR of 6.6% during the forecast period.

Carbon Fiber Driveshaft is a motor industry driveshaft made of the latest fabric (carbon fibre), it's miles lighter, stronger and safer than steel or aluminium. Besides, a Carbon Fiber Driveshaft hurries up faster than a metal driveshaft because of its decreased mass and lower inertia, which is why it is more and more identified using the market.

COVID-19 Impact: disruption in the global automotive supply chain, leading to production halts

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Production stops and reduced demand for vehicles in the pandemic, which in flip affected the marketplace for carbon fibre driveshafts. However, because the automobile industry began getting better, there was a renewed recognition of performance and efficiency, boosting the call for lightweight and immoderate-overall performance additives like carbon fibre driveshafts.

LATEST TRENDS

"Increased demand with the adoption of carbon fibre driveshafts in electric vehicles"

A widespread fashion within the marketplace is the increasing adoption of carbon fibre driveshafts in electric cars (EVs). As EV producers strive to maximize variety and overall performance, the lightweight and excessive-power houses of carbon fibre driveshafts lead them to a super choice. This fashion is predicted to drive an extensive boom in the marketplace as the EV quarter continues to grow bigger.

CARBON FIBER DRIVESHAFT MARKET SEGMENTATION

By Type

Based on type the market can be categorized into hollow shafts and solid shafts.

• Hollow shafts: Hollow carbon fibre driveshafts are designed with a hollow core, making them lighter than strong shafts whilst maintaining structural integrity and electricity. These shafts are favoured in packages in which weight loss is critical, including in excessive-overall performance and racing vehicles.
• Solid shafts: Solid carbon fibre driveshafts have a stable core, presenting the most energy and sturdiness. These shafts are normally utilized in applications wherein the best electricity is needed to face up to extreme forces and conditions, together with heavy-responsibility business cars and commercial programs.

By Application

Based on application the market can be categorized into passenger vehicles, commercial vehicles, industrial vehicles, military vehicles and others.

• Passenger vehicles: Carbon fibre driveshafts in passenger automobiles contribute to better gas efficiency and more suitable performance because of their lightweight nature.
• Commercial vehicles: In business vehicles, carbon fibre driveshafts help improve gasoline economy and payload capacity with the aid of lowering the general weight of the car.
• Industrial vehicles: Industrial automobiles, such as creation equipment and heavy devices, enjoy the robustness and lightweight residences of carbon fibre driveshafts.
• Military vehicles: Carbon fibre driveshafts are utilized in army automobiles to beautify mobility and overall performance. The lightweight yet strong nature of those shafts facilitates enhanced speed, manoeuvrability, and gasoline performance, which can be important for army operations.
• Others: This class includes distinctive vehicles and custom applications wherein carbon fibre driveshafts are used to fulfil particular overall performance or weight necessities.

DRIVING FACTORS

"Increasing Demand for Lightweight and High-Performance Vehicles rises market demand "

The automobile employer is constantly striving to beautify automobile normal performance, gasoline efficiency, and emission necessities. Carbon fibre driveshafts, being drastically lighter and more potent than traditional substances, assist acquire those goals. The reduction in rotational mass supplied with the resource of carbon fibre driveshafts consequences in higher acceleration, higher pinnacle speeds, and greater gas overall performance, which can be exceptionally appropriate attributes in each traditional and electric-powered cars. This call for lightweight and immoderate-performance additives drives the marketplace for carbon fibre driveshafts.

"Market demand boosted by the global shift towards electric mobility"

The worldwide shift toward electric mobility has increased the demand for innovative automobile additives that could decorate the performance and variety of electric motors. Carbon fibre driveshafts are especially beneficial for EVs due to their lightweight nature, which allows an increase in the vehicle's range by way of reducing universal weight and improving power performance. As the EV market keeps expanding, the call for carbon fibre driveshafts is expected to the Carbon fibre driveshaft market growth, using an increase in this phase.

RESTRAINING FACTOR

"Challenges due to the high cost of carbon fibre materials"

One restraining element for the market is the excessive price of carbon fibre substances and production processes. This makes carbon fibre driveshafts more costly than conventional metallic or aluminium driveshafts, proscribing their adoption to excessive performance and luxury cars in which the advantages justify the price.

• 

   Request a Free Sample To Get Analysis on Major Geographic Market

CARBON FIBER DRIVESHAFT MARKET REGIONAL INSIGHTS

"North America dominates the market driven by the presence of major automotive manufacturers"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

North America is the region that dominates the Carbon fibre driveshaft market share, pushed by way of the presence of fundamental car manufacturers, a robust aftermarket industry, and a high demand for overall performance cars. The location's awareness of advanced automobile technology and innovation in addition propels the market.

KEY INDUSTRY PLAYERS

"Key Players Transforming the Carbon Fiber Driveshaft Landscape through Innovation and Global Strategy"

Key players inside the market attention to innovation, product development, and strategic partnerships to hold an aggressive area. They spend money on studies and improvements to improve the overall performance and reduce the fee of carbon fibre driveshafts. Additionally, these groups are increasing their production capacities and participating with automobile producers to cater to the growing call for lightweight and excessive-performance components.

List of Market Players Profiled

• The Timken Company (U.S.A.)
• JTEKT Corporation (Japan)
• Nexteer Automotive (U.S.A.)
• Hitachi Automotive Systems Ltd. (Japan)
• Dana Incorporated (U.S.A.)

INDUSTRIAL DEVELOPMENT

November 2023: The Timken Company announced the growth of their carbon fibre driveshaft manufacturing facility in Ohio, USA. This development aimed to boost manufacturing potential to satisfy the growing call for from the electrical vehicle market and support Timken's role as a main provider of advanced car components.

REPORT COVERAGE

This report is based on historical analysis and forecast calculation that aims to help readers get a comprehensive understanding of the global Carbon Fiber Driveshaft market from multiple angles, which also provides sufficient support to readers’ strategy and decision-making. Also, this study comprises a comprehensive analysis of SWOT and provides insights for future developments within the market. It examines varied factors that contribute to the growth of the market by discovering the dynamic categories and potential areas of innovation whose applications may influence its trajectory in the upcoming years. This analysis encompasses both recent trends and historical turning points into consideration, providing a holistic understanding of the market’s competitors and identifying capable areas for growth.

This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.