Automotive Constant Velocity Joint Market size was valued at USD 3.01 Bn. in 2021 and the total Graphene Battery revenue is expected to grow by 5.2 % from 2022 to 2029, reaching nearly USD 4.52 Bn.

Portland, Jan. 20, 2023 (GLOBE NEWSWIRE) -- According to the "Automotive Constant Velocity Joint Market" research published by Maximize Market Research, the market is expected to grow from USD 3.01 billion in 2021 to USD 4.52 billion in 2029, at a CAGR of 5.2 percent during the forecast period from 2022 to 2029. The Growing demand for fuel efficiency and weightless vehicles drive the market demand.

Automotive Constant Velocity Joint Market Scope and Research Methodology

The "Automotive Constant Velocity Joint Market" research report that was published used both primary and secondary data sources for data collection. In order to conduct the research, it was necessary to examine a number of factors that affect the industry, such as government policy, the market environment, the competitive landscape, historical data, current market trends, technological innovation, upcoming technologies, and technical advancement in related industries, as well as market risks, opportunities, barriers, and challenges.

The research assessed the size of the global automotive constant velocity joint market in the present and the future, as well as its growth rates over the course of the last five years. Additionally, it includes numerous segmentation techniques, including geography (North America, Europe, Asia-Pacific, Middle East and Africa, South America). As technical innovation and M&A activity increase within the sector, the level of market rivalry keeps rising. Additionally, a large number of regional and local manufacturers offer specialized application goods for a variety of end users. Based on factors including the company's overview, current developments, market leaders' growth and sustainability initiatives, financial overview, and recent developments.

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Automotive Constant Velocity Joint Market Overview

A mechanical part of a power transmission called a constant velocity (CV) pint produces frictionless rotating motion in an axle. Depending of the angle at which it is operated, it produces an output velocity that is equal to the input velocity. Many contemporary rear-wheel drive automobiles with independent rear suspension employ it, although it is mostly used in front-wheel drive vehicles.

One of the key factors driving the growth of the Automotive Constant Velocity Joint Market is the growing need for automobiles that are more fuel-efficient. Vehicle fuel efficiency is a growing area of emphasis for manufacturers, who are also working to meet fuel emission standards with new technologies. The weight of CV joints is being reduced via the development of novel materials, manufacturing techniques, and designs. GKN VL3 CV joints, for example, designed by GKN group for BMW, contribute greatly to vehicle weight reduction. The implementation of such revolutionary CV joints in autos would significantly improve vehicle fuel economy.

Automotive Constant Velocity Joint Market Dynamics

A significant development in the market for automotive constant velocity joints is the growing emphasis on the size and light weighing of CV joints. Vehicles' excessive fuel consumption and dangerous gas emissions are a result of the substantial weight of CV joints. Therefore, OEMs are placing more and more focus on the use of lightweight materials and designs for the production of CV joints that will enhance driving dynamics and lower fuel usage. Additionally, a number of manufacturers are working to make CV joints smaller by giving them various shapes.

The market for automotive constant velocity joints does, however, have some regulations that could hinder its potential growth, such as its high replacement cost, whereas the growing preference for using public transportation to reduce greenhouse gas emissions could pose a threat to the market's future investment. Additionally, the forecast period will bring about a number of possibilities for the Automotive Constant Velocity Joint Market to grow due to the robust growth in the logistics and transportation sectors and the high need for passenger cars globally.

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Automotive Constant Velocity Joint Market Regional Insights

North America is expected to dominate the market during the forecast period. Thanks to the quick development of constant velocity joints and the large expansion of the manufacturing sector in this region,   Because of the considerable demand for passenger automobiles in this region, Europe is expected to grow at a large rate from 2021 to 2029. 

Market Size in 2021	USD 3.01 Bn.
Market Size in 2029	USD 4.52 Bn.
CAGR	5.2% (2022-2029)
Forecast Period	2022-2029
Base Year	2021
Number of Pages	213
No. of Tables	110
No. of Charts and Figures	112
Segment Covered	By Joint Type, Vehicle Type, End-Use
Regional Scope	North America, Europe, Asia Pacific, Middle East and Africa, South America
Report Coverage	Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.

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Automotive Constant Velocity Joint Market Key Competitors are:

• SDS
• Neapco
• Guansheng
• Seohan Group
• Heri Automotive
• American Axle & Manufacturing, Inc. (AAM)
• Dana Incorporated
• GKN plc
• GSP Automotive Group Wenzhou Co., Ltd. (GSP Group)
• Hyundai WIA Corporation
• IFA ROTORION - Holding GmbH
• JTEKT Corporation
• Nexteer Automotive Group Limited
• NTN Corporation
• Shandong Kaifurui Auto Parts Co., Ltd. (Shandong Huifeng Group)
• SKF AB
• Wanxiang Group Corporation
• Wonh Industries Co, Ltd.
• Xiangyang Automobile Bearing Co., Ltd.
• Zhejiang Feizhou Vehicle Industry Co., Ltd.

Key questions answered in the Automotive Constant Velocity Joint Market are:

• What are the technological innovations in Automotive Constant Velocity Joint Market?
• What are the factors driving the growth of the Automotive Constant Velocity Joint Market?
• Which technology insight dominated the Automotive Constant Velocity Joint Market in 2021?
• How has COVID-19 affected the growth of the Automotive Constant Velocity Joint Market?
• What is the growth rate of the Automotive Constant Velocity Joint Market during the forecast period?
• What are the trends of the Asia-Pacific region in the Automotive Constant Velocity Joint Market?
• Who are the market leaders in Automotive Constant Velocity Joint Market in the North American region?
• Which deployment mode led the Automotive Constant Velocity Joint Market in 2021?
• Who are the key players in the Automotive Constant Velocity Joint Market?
• What are the factors restraining the growth of the Automotive Constant Velocity Joint Market?
• Which region held the largest market share in Automotive Constant Velocity Joint Market?
• What is the growth rate of the North America Automotive Constant Velocity Joint Market
• What is a key feature of Automotive Constant Velocity Joint Market?
  

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Key Offerings:

• Market Share, Size & Forecast by Revenue | 2022−2029
• Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
• Market Segmentation – Joint Type, Vehicle Type, End-Use, and Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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