Automotive Constant Velocity (CV) Joint Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 to 2032

Description

The Global Automotive Constant Velocity (CV) Joint Market was valued at USD 3.5 billion in 2023 and is projected to grow at a 5.7% CAGR from 2024 to 2032. Growth is driven by increased consumer interest in AWD and 4WD vehicles, largely due to the enhanced traction, safety, and performance these systems provide, especially in regions with challenging terrain or extreme weather. AWD and 4WD systems depend heavily on CV joints for effective power transmission from the transmission to the wheels, allowing for the flexibility required on uneven terrain.

Automotive OEMs are focusing on building longer-lasting vehicles, which extends ownership periods and creates a rising demand for maintenance and replacement parts, including CV joints. These components are subject to wear, especially in high-mileage vehicles or those driven in rough conditions, leading to significant demand for quality aftermarket CV joints. This trend is powerful in North America and Europe, where older vehicles are prevalent, driving growth in the aftermarket CV joint sector as consumers seek affordable, dependable replacements.

Based on vehicle type, the market includes passenger cars and commercial vehicles. In 2023, the passenger car segment held over 70% of the market share, projected to exceed USD 4 billion by 2032. Growing demand for luxury and premium vehicles in North America, Europe, and parts of Asia is fueling the need for advanced CV joints that enhance ride comfort, minimize noise, and ensure smooth power transmission. Premium models require low noise, vibration, and harshness (NVH), creating demand for CV joints designed for quiet, efficient operation, particularly in vehicles with sophisticated suspension systems.

Market Scope
Start Year	2023
Forecast Year	2024-2032
Start Value	$3.5 Billion
Forecast Value	$5.7 Billion
CAGR	5.7%

Based on joint type, the market includes Rzeppa, tripod, double-offset, and cross-groove joints, among others. In 2023, the Rzeppa joint segment held 44% market share. These joints are widely used in FWD and AWD vehicles due to their high torque transmission efficiency at various angles. The popularity of FWD vehicles for their fuel efficiency and AWD vehicles for their traction and safety advantages continues to drive demand for Rzeppa joints.

The Asia-Pacific region led the global automotive CV joint market, holding over 40% of the share in 2023. Countries like India, Thailand, and Indonesia are becoming central to car manufacturing, increasing demand for CV joints, especially for the small and mid-size vehicles popular in these regions. As local production accelerates, suppliers receive more orders from OEMs and the aftermarket, supporting growth in the regional CV joint market.

Product Code: 12140

Chapter 1 Methodology & Scope

1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
1.2 Base estimates & calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimation
1.3 Forecast model
1.4 Primary research and validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
1.5 Market scope & definition

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
- 3.1.1 Raw material suppliers
- 3.1.2 Component suppliers
- 3.1.3 Manufacturers
- 3.1.4 Technology providers
- 3.1.5 Distributors
- 3.1.6 End users
3.2 Supplier landscape
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Regulatory landscape
3.7 Pricing analysis
3.8 End-user preferences and buying behavior
3.9 Impact forces
- 3.9.1 Growth drivers
  - 3.9.1.1 Increasing demand for AWD) and 4WD vehicles
  - 3.9.1.2 Rising global vehicle production and sales
  - 3.9.1.3 Increase in average vehicle lifespan and demand for replacement parts
  - 3.9.1.4 Advancements in CV Joint technology and materials
- 3.9.2 Industry pitfalls & challenges
  - 3.9.2.1 High cost and complexity of manufacturing
  - 3.9.2.2 Intense competition and price pressure
3.10 Growth potential analysis
3.11 Porter's analysis
3.12 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates & Forecast, By Joint, 2021 - 2032 ($Bn, Units)

5.1 Key trends
5.2 Rzeppa joint
5.3 Tripod joint
5.4 Double-offset joint
5.5 Cross groove joint
5.6 Others

Chapter 6 Market Estimates & Forecast, By Vehicle, 2021 - 2032 ($Bn, Units)

6.1 Key trends
6.2 Passenger vehicles
- 6.2.1 Hatchback
- 6.2.2 Sedan
- 6.2.3 SUV
6.3 Commercial vehicles
- 6.3.1 Light Commercial Vehicles (LCV)
- 6.3.2 Heavy Commercial Vehicles (HCV)

Chapter 7 Market Estimates & Forecast, By Propulsion, 2021 - 2032 ($Bn, Units)

7.1 Key trends
7.2 ICE
7.3 Electric vehicles
- 7.3.1 Battery Electric Vehicles (BEV)
- 7.3.2 Plug-in Hybrid Electric Vehicles (PHEV)
- 7.3.3 Hybrid Electric Vehicles (HEV)

Chapter 8 Market Estimates & Forecast, By Material, 2021 - 2032 ($Bn, Units)

8.1 Key trends
8.2 Steel
8.3 Aluminum
8.4 Others

Chapter 9 Market Estimates & Forecast, By Distribution Channel, 2021 - 2032 ($Bn, Units)

9.1 Key trends
9.2 OEM
9.3 Aftermarket
- 9.3.1 Authorized dealers
- 9.3.2 Independent auto parts stores
- 9.3.3 Online retailers

Chapter 10 Market Estimates & Forecast, By Region, 2021 - 2032 ($Bn, Units)

10.1 Key trends
10.2 North America
- 10.2.1 U.S.
- 10.2.2 Canada
10.3 Europe
- 10.3.1 UK
- 10.3.2 Germany
- 10.3.3 France
- 10.3.4 Italy
- 10.3.5 Spain
- 10.3.6 Russia
- 10.3.7 Nordics
10.4 Asia Pacific
- 10.4.1 China
- 10.4.2 India
- 10.4.3 Japan
- 10.4.4 Australia
- 10.4.5 South Korea
- 10.4.6 Southeast Asia
10.5 Latin America
- 10.5.1 Brazil
- 10.5.2 Mexico
- 10.5.3 Argentina
10.6 MEA
- 10.6.1 UAE
- 10.6.2 South Africa
- 10.6.3 Saudi Arabia

Chapter 11 Company Profiles

11.1 American Axle & Manufacturing
11.2 Dana
11.3 GKN Automotive
11.4 GSP Automotive
11.5 Hyundai WIA Corporation
11.6 JTEKT
11.7 Meritor, Inc.
11.8 Nanyang Automobile
11.9 Neapco Holdings LLC
11.10 Nexteer
11.11 NKN Co.
11.12 NSK Ltd.
11.13 NTN Corporation
11.14 Schaeffler AG
11.15 SKF Group
11.16 Taizhou Richter
11.17 Univance
11.18 Wanxiang
11.19 Yamada Manufacturing
11.20 ZF Friedrichshafen