Global Constant Velocity Universal Joint Market Forecast: Key Growth Drivers, Trends, Opportunities From 2025 To 2034

The Business Research Company's Constant Velocity Universal Joint Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, February 20, 2025 /EINPresswire.com/ -- The global constant velocity universal joint market has been on a path of robust growth in recent years and this trend is expected to continue in the near future as per the “Constant Velocity Universal Joint Global Market Report 2025”. The Constant Velocity Universal Joint market size is set to increase from $8.2 billion in 2024 to a significant $8.63 billion in 2025. This represents a compound annual growth rate CAGR of 5.3%. Factors attributing to this historic growth include the increasing demand for fuel-efficient cars, the rising popularity of electric vehicles, increasing vehicle production, growing all-wheel-drive AWD systems usage, and burgeoning sustainability concerns.

What Does The Future Hold For The CV Universal Joint Market?

The constant velocity joint market is slated to see a consistent growth pattern in the following years, ultimately growing to $10.48 billion in 2029 at a compound annual growth rate CAGR of 5.0%. This anticipated future growth can be associated with factors such as rising government spending, increasing demand for commercial vehicles, an uptick in demand for vehicles with advanced safety features, widening urbanization, and the growing utilization of all-wheel-drive AWD systems. Major trends foreseen in the forecast period include collaborations and partnerships, as well as advancements that incorporate bio-based lubricants, integration of advanced sensors, and technological improvements in design.

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Which Factors Are Driving The Growth Of The CV Universal Joint Market?

Increased demand for commercial vehicles is also projected to fuel the growth of the constant velocity universal joint market. Commercial vehicles, primarily used for transporting goods or passengers for business purposes, are seeing increased demand. This demand surge is powered by the e-commerce explosion requiring more delivery vans and trucks, and infrastructure development investments which necessitate construction and utility vehicles. CV Universal Joints are critical for commercial vehicles, contributing to smooth power transmission, capacity to accommodate steering and suspension movements, and enhancing drivetrain durability and performance. For example, the Society of Motor Manufacturers and Traders, a UK-based trade association, reported in January 2024, the demand for new light commercial vehicles LCVs in the UK rose by 21.0% in 2023, totaling 341,455 units. Therefore, increasing demand for commercial vehicles contributes to stimulating the constant velocity universal joint market.

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Who Are The Major Players In The CV Universal Joint Market?

Key companies operating in the constant velocity universal joint market include Valeo SA, Schaeffler AG, Mahle GmbH, JTEKT Corporation, Wanxiang Group Corporation, Dana Incorporated, AB SKF, Federal-Mogul Holdings LLC, Hyundai WIA Corporation, American Axle & Manufacturing Inc., NTN Corporation, Meritor Inc., Nexteer Automotive Corporation, Moog Inc., Belden Universal Joint Company LLC, GKN Ltd, IFA Group, GMB Corporation, Meyle AG, Renold PLC, Crown Automotive Sales Co. Inc.

Any Innovative Advancements Shaping The CV Universal Joint Market?

Top manufacturers are now focusing on producing technologically advanced solutions, such as high-durability constant velocity joints, to cater to the rising demand for more reliable and efficient automotive components. High-durable CV joints are made with improved materials and manufacturing techniques to withstand higher stress, harsh conditions, and prolonged usage, resulting in a longer service life and reduced maintenance requirements. For instance, UK-based auto parts manufacturer, First Line Ltd., launched a comprehensive range of drivetrain components in February 2023. This includes more than 530 driveshafts and over 420 CV joints, all made from high-quality material for enhanced durability and performance.

How Is The Global CV Universal Joint Market Segmented?

1 By Product Type: Ball-Fixed; Plunging
2 By Distribution Channel: Original Equipment Manufacturers; Aftermarket
3 By Application: Passenger Vehicle; Commercial Vehicle

Digging depper the subsegments comprise:

1 By Ball-Fixed: Fixed Ball Joint Assemblies; Non-Disassembly Ball-Fixed Joints; Ball-Fixed Joints For Light-Duty Applications
2 By Plunging: Plunging Joint Assemblies; Telescopic Plunging Joints; Plunging Joints for Heavy-Duty Applications

What Are The Regional Insights Of The CV Universal Joint Market?

North America was the largest market for CV Universal Joints in 2024. However, the report covers other geographical locations such as Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.

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