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Automotive Constant Velocity (CV) Joint Market Share

Report ID: GMI12140
Published Date: Nov 2024
Report Format: PDF

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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

Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of automotive constant velocity joint reached USD 3.5 billion in 2023 and is estimated to grow at a 5.7% CAGR from 2024 to 2032, driven by the rising consumer preference for AWD and 4WD vehicles.

The Rzeppa joint segment accounted for around 44% of the market in 2023, led by their efficient torque transmission at various angles, especially in FWD and AWD vehicles.

Asia Pacific dominated the market with a share of over 40% in 2023, propelled by increasing car production in countries like India, Thailand, and Indonesia.

The key players in the industry include American Axle & Manufacturing, Dana, GKN Automotive, JTEKT, Neapco Holdings LLC, Nexteer, NSK Ltd., NTN Corporation, Schaeffler AG, and ZF Friedrichshafen.