Market Dynamics
The global market for automotive differential is on a steady upward track and exhibits the potential of achieving a decent growth rate of 5%, reveals Market Research Future (MRFR).
Market Strengths and Top Restraints
High vehicle production, along with robust demand for all-wheel drive automotive is expected to enhance the growth of the automotive differential market in the following years. surge in per capita income across various countries has boosted the sale of passenger vehicles, which benefits the market. Also, rising standards of living across the globe can also trigger the demand for the automotive differential market. In addition, growing need for enhanced traction on roads as well as fuel efficiency can also induce growth of the automotive differential market during the appraisal period.
Massive demand for crossovers as well as SUVs across the United States (U.S.) and Europe, given the facilitation of comfortable rides and additional boot space, has led the global market to greater heights in recent years. besides, the decreasing auto loan interest rates have fueled the car sales, which also helps the global automotive differential market mint high revenues. Additionally, quiet and smooth operation, no requirement of friction modifiers and simple design have also ramped up the demand for automotive differential across the globe.
Mounting demand for electric vehicles can, however, have a negative impact on the automotive differential market in the near future. Having said that, the rising acceptance of the electronically driven limited-slip differential system, especially in mid-segment cars nullifies the impact of the restraints in the market growth.
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Market Segmentation
The drive types mentioned in the report are 2WD and 4WD.
The type-based segments in the market are locking differential and limited slip differential (LSD), open differential, torque vectoring differential, electronic limited slip differential (ELSD).
Given the component segment, the market has been considered for differential case, differential bearing and differential gear.
The vehicle type-based market segments are commercial vehicle, passenger car, bus, truck, and off-highway vehicles.
Propulsion-wise, the market caters to ICE and Hybrid vehicles.
Regional Insight
There is a high possibility of APAC establishing itself as the top market for automotive differential system in the years. The regional market benefits from the mounting awareness with regard to safety, surging urbanization, and expanding aftermarket industry. Also, high production and sales of automobiles is also anticipated to result in growth of the automotive differential system market in the region. Japan notes high sales of hybrid vehicles, thanks to the presence of renowned hybrid vehicle manufacturers like Toyota and Nissan.
Factors inducing the growth of the automotive differential system market in North America include the soaring demand for SUVs as well as crossovers, favorable economic conditions, high rate of industrialization, rising preference for all wheel and four wheel vehicles, and elevated living standards of consumers. These factors have also ramped up the popularity of off-road vehicles and sports cars in the region, which positively influences the market.
Launch of low-cost mini and compact SUVs combined with the increasing consumer preference for high-comfort and off-road vehicles has boosted the demand for ADS technologies in Europe. A number of automobile manufacturers offer EV models that feature these technologies, thereby helping the market size expanding substantially in the region.
Prominent Companies
Significant vendors in the worldwide market for automotive differential system are DREXLER AUTOMOTIVE (Germany), BorgWarnerInc. (US), Dana Limited (US), GKN plc (UK), neapco (US), ZF Friedrichshafen AG (Germany), Schaeffler AG (Germany), Powertrax (US), Eaton (Ireland), JTEKT Corporation (Japan), and others.
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Key Questions Addressed by the Report
- What was the historic market size?
- Which segmentation (Product/ Capacity) is driving market?
- What will be the growth rate?
- How are the key players in this market?
- What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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