Krazymedia07 Dec, 2022Business
According to Persistence Market Research, the global automotive drive shaft market reached a size of over US$ 32 billion at the end of 2021. Worldwide Automotive drive shaft sales are expected to reach US$ 54 billion by 2032, increasing at a steady CAGR of 4.9% over the next ten years. Over the coming years, increasing use of automotive drive shafts in conventional and hybrid vehicles is likely to drive market growth in East Asia to new heights. The East Asian automobile production scenario offers a promising future for automotive drive shaft suppliers. East Asia currently accounts for more than 36% share of the global automotive drive shaft market.
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