The heavy, rigid shafts used in Sports Utility Vehicles (SUVs)/Multi-Utility Vehicles (MUVs)/Multi-Purpose Vehicles (MPVs), LCVs, and some big saloon sedans contribute to the weight of the vehicle. The automotive industry is witnessing a growing trend of lightweight hollow shafts. The forged construction of hollow shafts, along with their drilling and heat treatment, significantly reduces the weight of the shaft without compromising its torsional stiffness. These shafts are 15% to 30% lighter than their rigid counterparts. The lightweight shafts are generally equipped in hatchbacks and small and mid-size sedans. OEMs are exhibiting a growing inclination towards lightweight hollow shafts, and are using them in SUVs/MUVs/MPVs. The global trend of vehicle weight reduction will likely propel the demand for hollow shafts, as these shafts help reduce vehicle weight. Stringent emission norms and standards are also driving the market for lightweight hollow shafts, as they help reduce emissions and increase fuel efficiency.

"Asia-Pacific to be the largest market for automotive drivetrains"

Asia-Pacific is estimated to dominate the Automotive Drivetrain Market, and is projected to grow at the highest CAGR during the forecast period. The region has emerged as a hub for alternative fuel passenger cars in recent years, with China and Japan as the frontrunners. Governments in the region are also trying promote the sales of alternate fuel vehicles through incentives and tax deductions.

The Automotive Drivetrain Market is dominated by a few global players, and comprises several regional players. Some of the key manufacturers operating in the market are Aisin Seiki Co., Ltd (Japan), American Axle & Manufacturing (U.S.), BorgWarner Inc. (U.S.), GKN plc (U.K.), Magna International Inc. (Canada), Dana Holding Corporation (U.S.), JTEKT Corporation (Japan), Showa Corporation (Japan), and Schaeffler Group (Germany).

END