Automotive Constant Velocity (CV) Joint Market Size - By Joint, By Vehicle, By Propulsion, By Material, By Distribution Channel, Growth Forecast 2024 – 2032

Automotive Constant Velocity Joint Market Size

The global automotive constant velocity joint market size was valued at USD 3.5 billion in 2023 and is estimated to register a CAGR of 5.7% between 2024 and 2032, attributed to the rising consumer preference towards AWD and 4WD vehicles due to improved traction, safety, and performance, especially in regions with variable terrain or extreme weather conditions. AWD and 4WD systems rely heavily on CV joints to transmit power from the transmission to the wheels, allowing for the flexible movement needed in variable terrain.
 

This trend is particularly strong in SUVs, crossover vehicles, and trucks, which account for a significant portion of the global vehicle market. The SUV market is expected to grow from USD 869.6 billion in 2023 to USD 1.47 trillion in 2032 witnessing a growth of over 6% between 2024 and 2032. With the increase in demand for these types of vehicles, the need for robust, high-performance CV joints has risen.
 

Automotive OEMs are concentrating on manufacturing vehicles that last longer, leading to longer ownership periods. As a result, there is a growing need for replacement and maintenance parts, especially CV joints. These components wear out, particularly in vehicles driven in tough conditions or with high mileage. This has led to a growing need for high-quality aftermarket CV joints as consumers aim to keep their vehicles running longer. This trend is notable in regions such as North America and Europe, where there are many older vehicles. This benefits the aftermarket segment of the automotive constant velocity (CV) joint market, as consumers look for affordable and reliable replacement parts.
 

Additionally, Advanced Driver Assistance Systems (ADAS) such as automated parking, lane-keeping, and collision avoidance are becoming standard in modern vehicles. These systems require smooth and responsive drivetrain components. CV joints are crucial for delivering consistent power to the wheels, which is essential for the accuracy and reliability of ADAS functions, especially in vehicles with complex drivetrains. As ADAS becomes more common, the demand for high-quality components that ensure reliable power delivery and handling is increasing.
 

Automotive Constant Velocity Joint Market Trends

Technological advancements in CV joint design, materials, and manufacturing processes are driving market growth. These improvements make joints stronger, more efficient, and longer lasting. For instance, using high-strength steel, advanced lubricants, and precise manufacturing has made CV joints more durable and better performing, even in tough conditions. Additionally, lighter CV joints and those with optimized angles for better energy efficiency are becoming popular, especially in high-performance vehicles. These advancements help automakers improve fuel efficiency, reduce emissions, and enhance overall vehicle performance.
 

Furthermore, automakers are focusing on lightweight components to boost fuel efficiency and cut emissions. Lightweight CV joints, often made with advanced composite materials or optimized designs, are part of this effort. These joints reduce the vehicle's overall weight, improving fuel efficiency in traditional vehicles and extending the range of electric vehicles. This trend supports the need for sustainable automotive solutions, leading manufacturers to invest in lighter and more efficient CV joint technologies.
 

CV joints are crucial for vehicle performance, requiring precise engineering and high-quality materials for durability and flexibility. Manufacturing involves advanced processes such as forging, heat treatment, and precision machining, which increase costs. Automakers' demand for lighter, more durable, and corrosion-resistant CV joints further raises expenses due to the need for premium materials including high-strength steels and specialized alloys. This complexity squeezes profit margins, especially under competitive pricing pressures. Smaller or new manufacturers often struggle due to the high capital investment needed for advanced manufacturing technologies.
 

Automotive Constant Velocity Joint Market Analysis

Based on vehicles, the market is divided into passenger cars and commercial vehicles. In 2023, the passenger cars segment held a market share of over 70% is expected to cross USD 4 billion by 2032. The growing demand for luxury and premium vehicles in North America, Europe, and parts of Asia is driving the need for high-quality CV joints that improve ride comfort, reduce noise, and ensure smooth power transmission.
 

Premium vehicles require low noise, vibration, and harshness (NVH) levels, necessitating CV joints designed for quiet and smooth operation, especially in models with advanced suspension systems. Furthermore, autonomous vehicles, particularly in the passenger car segment, require reliable drivetrain components for seamless and safe operation. These components are crucial for maintaining consistent and smooth power delivery, essential for autonomous cars to function without driver intervention.
 

Based on joint, the market is categorized into Rzeppa joint, tripod joint, double-offset joint, cross groove joint and others. The automotive constant velocity joint market from Rzeppa joint segment held a market share of around 44% in 2023. These joints are widely used in Front-Wheel Drive (FWD) and All-Wheel Drive (AWD) vehicles due to their efficient torque transmission at various angles.
 

The increasing preference for FWD in passenger cars for better fuel efficiency and AWD for enhanced traction and safety is driving demand for these joints. These joints are popular in compact cars, sedans, and SUVs, providing smooth torque transfer, which is crucial in diverse driving conditions. Furthermore, their ability to offer a wide articulation angle without losing power transfer makes them vital for high-torque applications, especially in performance vehicles and larger passenger cars. This preference boosts their demand for performance-focused AWD vehicles and off-road SUVs.
 

Asia Pacific dominated the global automotive constant velocity joint market with a major share of over 40% in 2023. Asia Pacific, especially in countries such as India, Thailand, and Indonesia, are becoming a major area for car production. This growth is increasing the need for CV joints, particularly in small and mid-size cars that are popular in these regions. As local production increases to meet demand, the suppliers are getting more orders from both car manufacturers and the aftermarket.
 

Furthermore, in China, strong government support and high consumer demand are boosting electric vehicle (EV) production. EVs need stronger parts as they produce more torque than traditional cars. This is driving up the demand for components that work well with electric drivetrains, helping the market grow in China.
 

In Europe, strict emissions rules are pushing car makers to develop hybrid and electric vehicles, which need specialized CV joints to handle higher torque and unique power needs. The EU's focus on eco-friendly cars is increasing the demand for components designed for EVs and hybrids, especially in Western Europe where EV use is growing. Europe also has many luxury car brands that focus on durability, ride quality, and low noise and vibration. This focus on high-quality engineering is increasing the demand for advanced parts that meet strict performance standards.
 

In North America, more consumers are choosing light trucks and SUVs for their versatility and off-road capabilities. These vehicles, especially those with AWD and 4WD, depend heavily on CV joints to effectively transmit torque. As the demand for SUVs and light trucks grows, so does the need for parts that can handle high torque and tough driving conditions. Additionally, many North American vehicle owners keep their cars for longer periods, increasing the demand for replacement parts in the aftermarket. This is driving up the demand for CV joint replacements in the aftermarket segment.
 

Automotive Constant Velocity Joint Market Share

GKN Automotive, American Axle & Manufacturing and NTN Corporation hold a significant market share of over 10% in the automotive constant velocity joint industry. GKN is expanding its offerings for electric and hybrid vehicles, where demand for advanced CV joints is strong due to unique torque and load requirements. The company has developed specialized eDrive systems with integrated CV joint technology that enhance efficiency and performance in EVs. This focus on electrified drivetrains positions GKN as a leading CV joint provider for EVs and hybrids, helping to capture a growing segment in the automotive market.
 

America Axle & Manufacturing is focusing on the aftermarket sector to meet the growing demand for CV joint replacements and maintenance. By expanding its distribution network and creating specialized CV joint products, the company aims to boost its aftermarket sales as vehicle ownership periods lengthen. Furthermore, NTN focuses on collaborating with OEMs and tech firms to develop advanced CV joints that improve performance, reduce noise and vibration, and increase durability. Through co-development projects, NTN customizes its designs for specific needs, including electric and hybrid drivetrains and gain a significant market share.
 

Automotive Constant Velocity Joint Market Companies

Major players operating in the automotive constant velocity joint industry include:

• American Axle & Manufacturing
• Dana
• GKN Automotive
• JTEKT 
• Neapco Holdings LLC
• Nexteer
• NSK Ltd.
• NTN Corporation
• Schaeffler AG
• ZF Friedrichshafen
   

Automotive Constant Velocity Joint Industry News

• In April 2024, Hyundai WIA has received a patent for a new constant velocity joint for vehicles. This joint includes a hub housing, a bearing assembly, a power transmission member, and a specially designed boot. The boot is designed to keep foreign substances out of the bearing assembly. It has a lip that extends towards the knuckle, creating a gap that blocks foreign materials. The distances between the boot and the knuckle, and between the bearing assembly and the knuckle, are precisely measured to maximize the boot's protective function.
   
• In February 2023, Borg & Beck introduced a wide range of high-quality Constant Velocity (CV) Joints and Driveshafts. Their drivetrain collection includes over 420 CV Joints and more than 530 Driveshafts. Each driveshaft features CNC forged CV Joints, made to precise standards. The company's CV Joints come as a complete kit, including the boot, steel clips, grease, hub nut, and a replacement circlip. 
   

The automotive constant velocity (CV) joint market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue ($Bn) and volume (Units) from 2021 to 2032, for the following segments:

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Market, By Joint

• Rzeppa joint
• Tripod joint
• Double-offset joint
• Cross groove joint
• Others

Market, By Vehicle

• Passenger vehicles
  • Hatchback
  • Sedan
  • SUV
• Commercial vehicles
  • Light Commercial Vehicles (LCV)
  • Heavy Commercial Vehicles (HCV)

Market, By Propulsion

• ICE
• Electric vehicles
  • Battery Electric Vehicles (BEV)
  • Plug-in Hybrid Electric Vehicles (PHEV)
  • Hybrid Electric Vehicles (HEV)

Market, By Material

• Steel
• Aluminum
• Others

Market, By Distribution Channel

• OEM
• Aftermarket
  • Authorized dealers
  • Independent auto parts stores
  • Online retailers

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Nordics
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Southeast Asia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • UAE
  • South Africa
  • Saudi Arabia