CV Joint Market Future Trends, Global Demand, Revenue Analysis, and Forecast Report, 2017 - 2022
The CV joint market is driven by an exponential growth of the transportation and logistics industry all over the world. The market progression is also driven by significant growth in innovation and numerous collaborations.
(firmenpresse) - The global CV joint market has been estimated to display a significant growth in terms of revenue generation during the forecast period. A CV joint is used as an elementary solution for power transmission in a piece of machinery. It provides the same output velocity as the corresponding input velocity due to its ability to feature of transmitting rotational power without any friction at the axle. Several applications in precision engineering are demanding the use of CV joints and are catering to its increased sales.
“Several R&D partnerships and supplier investments have enabled variable degrees of quality product offerings throughout the world and deploying optimized Constant Velocity (CV) drive shafts across the automotive industry. With the swelling sales of SUV and passenger style vehicles and higher car sales in developing economies of India and Africa, the demand for Constant Velocity (CV) joints is increasing.”
The CV joint market is driven by an exponential growth of the transportation and logistics industry all over the world. The market progression is also driven by significant growth in innovation and numerous collaborations.
Vehicle owners demand more and more comfort, reduced Co2 levels, safety, and fuel efficiency in modern day vehicles. In parallel, vehicle manufacturer appeals have become highly technical with respect to increased product durability, compactness, lightness, and greater efficiency. However, some new equipment designs have steered traction for cardan joints as they are more versatile and expensive than CV joints, thus, hindering its growth.
Based on joint type, the market has been segmented into Thomson coupling, tracta joints, double coupling, rzeppa joints, and others. By vehicle type light commercial vehicle, passenger car, and heavy commercial vehicle. The CV joint market has found its application across commercial, defense, logistics, and aviation industries.
Asia Pacific is attributed to be the fastest growing due to the rising automobile sales and growing disposable income across countries like India, China, and Japan. The competitive landscape of CV joint market comprises GKN, IFA Rotorion, SKF, NTN Corporation, Nexteer Automotive NKN Co. Ltd., ZWZ, and Zhejiang ODM Transmission Technology Co., Ltd., Wanxiang Qianchao Co. Ltd., Nanyang Automobile & Cycle Group, Taizhou Hongli Automobile Parts Co. Ltd., Shandong Huifeng Auto Fittings Co. Ltd., and American Axle & Manufacturing Holdings, Inc. are among others.
NTN-SNR is known for its manufacturing of all types of classical joints pints, on certain applications such as the wheel side, a tripod type joint and differential side using a six-ball design. They have established and patented a range of eight ball joints (EDJ and EBJ) which are used majorly by Original Equipment Manufacturers (OEM) across several end-user industries. These products are designed in a format that caters to the ever-increasing requirements of the vehicle owners, manufacturers and vendors to enhance comfort, reduce CO2 emissions and improve the overall efficiency of the vehicle or machinery.
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