The global automotive drive shaft market is set to accelerate from $18.87 billion in 2025 to $24.02 billion by 2029, posting a compound annual growth rate (CAGR) of 6.2%, according to The Business Research Company.
The sector’s expansion is fueled by rising electric vehicle (EV) sales, demand for lighter and more fuel-efficient designs, increased utility vehicle production, and sustainability initiatives. Drive shafts remain a crucial mechanical component, transferring torque from the engine gearbox to the wheels — a role that is evolving alongside electrified and hybrid drivetrains.
Asia-Pacific currently leads the market and is forecast to experience the fastest growth, supported by rapid vehicle production and EV infrastructure expansion. Major industry players include GKN Automotive, JTEKT, American Axle & Manufacturing, Dana, Hyundai Wia, and Nexteer Automotive.
Emerging trends include the adoption of carbon fiber materials, integrated sensors for performance monitoring, flexible modular designs, and maintenance-free solutions. Notably, U.S.-based Harmonic Drive introduced its High-Performance Hollow Shaft Gear Unit in 2023, delivering torque ratings of up to 1,500 Nm for industrial and mobility applications.
With EV adoption on the rise and advanced materials reshaping the market, the automotive drive shaft industry is on track for its most transformative decade yet.
