Automotive Constant Velocity Joint Market by Joint Type (Ball Joints, Inboard / Outboard, Plunge Joints), Propulsion (Electric, HybrId, ICE), Vehicle Type, Distribution Channel - Global Forecast 2024-2030

Automotive Constant Velocity Joint Market by Joint Type (Ball Joints, Inboard / Outboard, Plunge Joints), Propulsion (Electric, HybrId, ICE), Vehicle Type, Distribution Channel - Global Forecast 2024-2030

The Automotive Constant Velocity Joint Market size was estimated at USD 3.68 billion in 2023 and expected to reach USD 3.90 billion in 2024, at a CAGR 6.29% to reach USD 5.64 billion by 2030.

Automotive constant velocity, or CV, joints are crucial automotive components that connect the vehicle's transmission to its wheels. Automotive CV joints are an important part of the driveshaft, used primarily in front-wheel drive vehicles, as well as rear- and four-wheel drive vehicles. Each drive wheel in a vehicle has two automotive CV joints, including the inner joint, which connects the transmission to the vehicle's axle, and the outer joint, which connects the axle to the wheel. The automotive CV joint is equipped with the ability to move along with the vehicle's suspension in any direction while maintaining the drive wheels at a constant velocity. Recent years have seen a rapid increase in ownership of vehicles due to growing disposable incomes among middle-class consumers. Consequently, the expanding production of various types of automobiles, such as passenger and commercial vehicles, has created a significant demand for automotive CV joints. Furthermore, sustainability concerns have become a pivotal factor driving the need for energy-efficient automotive CV joints. However, due to the possibility of protective boot cracks and wear and tear of automotive CV joints, the components need frequent maintenance and lubrication protocols. Additionally, technical and application constraints can further impede the widespread adoption of the components. However, key players are exploring technological advancements and the development of integrated wheel drive systems to improve the mobility and efficiency of automobiles and overcome technical hurdles of automotive CV joints. Additionally, electric vehicles, which have different requirements for automotive CV joints and the growing preference for EVs, can create new growth opportunities for the industry.

Regional Insights

The Americas region, particularly the US and Canada, is comprised of a robust automotive industry and technological architecture, which drives the need and demand for automotive CV joints. Constant technological advancements and product launches of automotive CV joints have facilitated innovations in the field. Europe is characterized by the presence of several stringent guidelines and regulations about environmental emissions and sustainability, which shapes the market demand for automotive CV Joints. This region's plants focus on producing advanced automotive CV joints for electric vehicles to cater to consumer demand for EVs. APAC's position as a manufacturing hub for crucial automotive components and the presence of a growing middle-class population provide opportunities for market growth. The presence of several key players and suppliers in economies such as China, India, and South Korea creates an environment of growth and a need for automotive CV joints for EVs and military, specialty, and motorsports vehicles.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Automotive Constant Velocity Joint Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Rising vehicle ownership and expanding production of automobiles across the world
• Need for compact and energy-efficient components in vehicles

Market Restraints

• Possibility of wear and tear and damage to the automotive constant velocity joints

Market Opportunities

• Advancements to improve the performance and efficiency of automotive constant velocity joints
• Demand for automotive constant velocity joints for electric vehicles

Market Challenges

• Technical constraints of automotive constant velocity joints

Market Segmentation Analysis

• Joint Type: Growing adoption of plunge joints due to their lightweight design
• Propulsion: Preference for electric propulsion to tackle sustainability concerns
• Vehicle Type: Growing ownership of passenger cars due to rising disposable incomes
• Distribution Channel: Inclination towards aftermarket distribution channel due to its cost-effectiveness and easy availability

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Automotive Constant Velocity Joint Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Automotive Constant Velocity Joint Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Imexpart Announces Driveshaft Range Expansion and Same-Day Delivery Service Following UPG Acquisition

Imexpart Limited (IMEX), a distributor of automotive CV joints and engine components, has advanced its market positioning through a strategic acquisition by the Universal Parts Group (UPG). This collaboration underscores a pivotal advancement in IMEX's ability to deliver quality parts. With the recent expansion into a new depot in Swindon, IMEX has broadened its product offerings to include an extensive range of driveline components, such as prop shafts, CV Joints to prop shaft center bearings, universal joints, and driveshafts.

Mark Williams Ent. Expands Into EV Driveline Products

Expanding its offerings into the electric vehicle (EV) market, driveline manufacturer Mark Williams Enterprises has innovated with the introduction of a new stub axle assembly tailored for the IDM-190 power module, a prominent product of Cascadia Motion LLC. This new assembly is specifically designed to accommodate the widely utilized Series 15 constant velocity joint, also known as the Porsche 930 CV joint, thereby signaling Mark Williams Enterprises' commitment to supporting the growing community of independent EV manufacturers.

First Line Launches CV Joint and Driveshaft Ranges

First Line Ltd., under its Borg & Beck line, has reinforced its presence in the aftermarket segment with an expansive selection of high-caliber Constant Velocity (CV) joints and driveshafts. The product line would encompass more than 420 CV joints and upwards of 530 driveshafts, underpinning a product portfolio that extends to over 720 CV boot kits for more than 26,000 variants.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Automotive Constant Velocity Joint Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Automotive Constant Velocity Joint Market, highlighting leading vendors and their innovative profiles. These include AIKOKU ALPHA, American Axle & Manufacturing, Inc., Anand Auto Corporation, Comer Industries Spa, Dana Inc., EMAG GmbH & Co. KG, F.B.Axles Pvt. Ltd., GKN Automotive Limited, GSP Automotive Group Wenzhou Co. Ltd., Hartford Technologies, Inc., Hyundai WIA Corporation, IFA Group, IPD GmbH, Kalyani Mobility Drivelines, Nanyang Automobile & Cycle Group, Nexteer Automotive Group Ltd., NKN LTD, NTN Corporation, Rockford Constant Velocity, Seohan Group, Shandong Carfree Auto Fittings CO., LTD, SKF, Taizhou Hongli Automobile Parts Co., Ltd., The Rowland Company, Universal Engineers, Walterscheid Powertrain Group, Wanxiang Qianchao Co. Ltd., and WONH Industries co, ltd..

Market Segmentation & Coverage

This research report categorizes the Automotive Constant Velocity Joint Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Joint Type
• Ball Joints
• Inboard / Outboard
• Plunge Joints
• Rzeppa Joints
• Tripod Joints
• Propulsion
• Electric
• HybrId
• ICE
• Vehicle Type
• Heavy Commercial Vehicle
• Light Commercial Vehicle
• Passenger Car
• Distribution Channel
• Aftermarket
• OEM
• Region
• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year