Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Universal Joint Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
How Will the Universal Joint Market Grow Between 2024 and 2025?
The Universal Joint Global Market has seen significant growth recently. The market size is projected to increase from $97.97 billion in 2024 to $102.89 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 5.0%.
How Much Will the Universal Joint Market Be Worth in 2029?
The Universal Joint Global Market is projected to reach a size of $127.78 billion in 2029, expanding at a compound annual growth rate (CAGR) of 5.6%.
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Which Universal Joint Market Drivers Are Linked to Revenue Growth?
The key drivers in the universal joint market are:
• Increasing vehicle production worldwide
• Rising demand for heavy-duty vehicles
• Growing use of all-wheel-drive systems
• A higher focus on vehicle safety measures.
Which Segments Are Expected to Grow in the Universal Joint Market?
The universal joint market covered in this report is segmented –
1) By Type: Constant Velocity Joint, Cross-Axis Universal Joint, Ball-Type Universal Joint
2) By Material: Steel, Alloy, Plastic
3) By Sales Channel: Original Equipment Manufacturers, After market
4) By Application: Passenger Vehicle, Commercial Vehicle, Agricultural Machinery, Industrial Equipment
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What Are The Key Trends Impacting Growth In The Global Universal Joint Market?
The key trends in the universal joint market are:
• The future of the Universal Joint Global Market is being shaped by advancements in technology.
• Utilization of advanced materials in production is emerging as a key trend.
• The development of smart universal joints is on the rise.
• The market is increasingly impacted by the prevalence of hybrid vehicles and the application of digital twin technology.
Who Are the Key Competitors in the Global Universal Joint Market?
Major players in the universal joint market are:
• Wanxiang Group Corporation
• Dana Incorporated
• SKF Group
• Hyundai WIA Corporation
• NTN Corporation
• The Timken Company
• Meritor Inc.
• Moog Inc.
• Belden Universal
• Rexnord Corporation
• GKN Automotive Limited
• Neapco Holdings LLC
• Koyo Bearings
• Renold plc
• American Axle & Manufacturing Inc.
• JTEKT Corporation
• Crown Automotive Sales Co. Inc.
• Xiangyang Automobile Bearing Co. Ltd.
• IFA Rotorion Holding GmbH
• Gewes GmbH
• Ruland Manufacturing Co. Inc.
• Altra Industrial Motion Corp.
• Bailey Morris Ltd.
• Heri Automotive Co. Ltd.
• Elbe Group
Where Is the Universal Joint Market Growing Fastest Between 2025 and 2029?
North America was the largest region in the universal joint market in 2024
