Constant velocity (CV) joint help a drive shaft to transmit torque at a constant speed without deflection in friction. They are widely used in front wheel drive vehicles and new rear wheel drive vehicles with separate rear suspension typically used CV joints at the end of rear axle shafts. CV joints are mostly used in various industries due to its features such as less driving units, less noise, less vibration, reliability of variable angle & improved effectiveness.

Growing demand for fuel-efficient vehicles, better vehicle performance & stringent emission norms will drive the constant velocity joints market. Consumer comfort, efficient driving and purchasing cost will play a significant role in increasing the global revenue of the market. Automotive constant velocity joint market is expected to witness ~6.56% CAGR during the period 2017 to 2023.

Key Players

Neapco Holdings LLC (U.S.), IFA Rotorion (Germany), GKN (U.K.), NTN Corporation (Japan), SKF (Sweden), NKN Co. Ltd. (Japan), Nexteer Automotive (U.S.), Zhejiang ODM Transmission Technology Co., Ltd. (China), ZWZ (China), Nanyang Automobile & Cycle Group (China), Wanxiang Qianchao Co. Ltd. (China), Shandong Huifeng Auto Fittings Co. Ltd.(China), Taizhou Hongli Automobile Parts Co. Ltd. (China), Hyundai WIA Corporation (South Korea), American Axle & Manufacturing Holdings, Inc.(U.S.), and others.

Segmental Outline

The Automotive Constant Velocity Joint Market Size has been segmented by type of joint, type of vehicle, and application. By joint type, the market has been segmented into Tracta joints, Rzeppa Joints, Thomson Coupling, Double Coupling, and others. By vehicle type, the market has been segmented into heavy commercial vehicle, passenger car, and light commercial vehicle. The rise in need to avoid road accidents, due to traffic congestion, is triggering integration of constant velocity joint in passenger car. The expansion of the world population and the increase in need for better public transportation are surging the demand for passenger cars. Heavy commercial vehicles are high consumers of constant velocity joint due to the need to maintain optimum speed to prevent accidents. The heavy vehicle segment, followed by passenger car segment, is expected to contribute to the market growth. By application, the market has been segmented into commercial, aviation, logistics, and defense.