An automotive Constant Velocity (CV) joint is an important type of mechanical component that is used for transferring power between two angled shafts to allow for a smooth transfer of torque at varying angles, speeds, and distances. It is used mostly to connect the shafts of the drivetrains of a four-wheel drive vehicle or an all-wheel drive vehicle. A CV joint typically consists of an inner race, rubber boot, a bearing cage, bearing balls, and an outer race.
The usage of CV joints is critical for helping to ensure proper four-wheel drive vehicle handling and maneuverability. Without CV joints, the transmission of power from the engine and drivetrain of the vehicle to the four wheels would not be smooth and steady, leading to jerky movements and sudden changes in speed and direction. Additionally, CV joints allow the drivetrain of the vehicle to achieve a full range of motion without putting unnecessary stress on its parts.
The global overview of the automotive CV joint market is positive. Over the past decade, the market has been driven by an increase in demand for all-wheel drive vehicles, as they offer improved vehicle stability and safety. This increased demand has significantly driven up the sales of auto-parts that use these components. Additionally, the increasing need for high-performance vehicles and strong demand from the automotive aftermarket sector means that sales of CV joints are expected to continue to increase in the coming years.
The global Automotive Constant Velocity Joint market was valued at US$ 4862.2 million in 2022 and is anticipated to reach US$ 5478.9 million by 2029, witnessing a CAGR of 1.7% during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
A detailed market research report on Global Automotive Constant Velocity Joint Market available at: https://www.themarketreports.com/report/global-automotive-constant-velocity-joint-market-research-report
This report aims to provide a comprehensive presentation of the global market for Automotive Constant Velocity Joint, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Automotive Constant Velocity Joint.
The major global companies of Automotive Constant Velocity Joint include GKN, NTN, SDS, Nexteer, Wanxiang, Hyundai WIA, Neapco, Guansheng, SKF, Seohan Group, IFA Rotorion, JTEKT, Xiangyang Automobile Bearing, AAM, Heri Automotive etc. In 2021, the world’s top three vendors accounted for approximately % of the revenue.
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