The Side Shaft provides the dynamic connection between engine and driving wheels, transmitting power and allowing steering angles whilst accommodating suspension movements and isolating vibrations. Each side shaft has two constant velocity joints ? a fixed joint at the wheel end and a plunging joint at the gearbox end, connected by an interconnecting shaft. Automotive Side Shafts play a vital role in the operation of any vehicle. It ensures optimum delivery of power to the wheels of the vehicle.
Many international side shaft manufacturers have built plants in China and they have occupied large share of automotive side shaft market. There is large technical gap between automotive side shafts produced by manufacturers from China and abroad. To maintain market share, these domestic manufacturers must invest more on research and development.
In application, side shaft is wide and recently has acquired increasing significance in various fields of passenger vehicle and commercial vehicle. Globally, the side shaft market is mainly driven by growing demand for passenger vehicle which accounts for nearly 85.76% of total downstream consumption of shafts used in automotive in global.
In the future, global market is expected to witness steady growth on account of rising applications, so in the next few years, side shafts production will show a trend of steady growth. In 2021 the production of side shaft is estimated to be 245.8 Million Units. On product prices, the slow downward trend in recent years will maintain in the future.

According to this study, over the next five years the Side Shaft market will register a 1.5% CAGR in terms of revenue, the global market size will reach USD 14100 million by 2024, from USD 12900 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Side Shaft business, shared in Chapter 3.

This report presents a comprehensive overview, market shares, and growth opportunities of Side Shaft market by product type, application, key manufacturers and key regions and countries.

This study considers the Side Shaft value and volume generated from the sales of the following segments-

Segmentation by product type- breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Rear Side Shaft
Front Side Shaft
Segmentation by application- breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
Passenger Vehicles
Commercial Vehicles

This report also splits the market by region- Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report- Breakdown data in in Chapter 3.
GKN
NTN
Hyundai-wia
Nexteer
KOFCO
Wanxiang
Neapco
JTEKT
Guansheng

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

Research objectives
To study and analyze the global Side Shaft consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Side Shaft market by identifying its various subsegments.
Focuses on the key global Side Shaft manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Side Shaft with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Side Shaft submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.