New Investments Expected To Boost the Automotive Half Shafts Market between 2019 And 2027
Automotive Half Shafts: The trend of electrification and light-weighting across the globe is expected to shape the automotive half-shaft market . Changes in design of drive-units with electric motors and increase in stringency in emission norms are pressing automakers to develop and innovate drive shafts Automotive Half Shafts are mechanical components used to transmit the torque from the differential to the wheels Key Drivers and Restraints of Global Automotive Half Shafts Market Global car sales rose from 77.3 million units in 2016 to around 78.6 million units in 2018. Increase in vehicle sales due to economic growth in developing countries drives the global automotive half shafts market. Rise in demand for all-wheel-drive (AWD) vehicles is projected to boost demand for drive shafts. This in turn is anticipated to propel the automotive half shafts market. The U.S. is the leading manufacturer of AWD vehicles; however, a similar trend has been observed across the world, wit...