Global Automotive Differential Market is valued approximately USD 23.72 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.2% over the forecast period 2020-2027.
Automotive Differential is a mechanism used to split the torque generated by the engine in two ways. This split allows each output to spin at different speeds. the differential allows the outer drive wheel to rotate faster than the inner drive wheel during a turn.
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This is necessary when the vehicle turns, making the wheel that is traveling around the outside of the turning curve roll farther and faster than the other. The Massive production of the automobiles across the globe drives the market growth. Also, growing preference towards modern and premium cars which majorly uses these differential system fuels the market growth. As per German Trade and Invest, 2018, Germany is world's premium car production hub with 70% of all premium branded vehicles made by German OEMs.
Moreover, of the total premium car produced in 2017 globally, Germany produced 38% and UK produced 7%. Further, the need for better traction and increased fuel efficiency supports the market growth. Major demand from the Crossover and SUVs segment of the Automotive which has all wheel or four- wheel drive fosters the demand for automotive differential. However, increasing demand for electric vehicles impedes the growth of the market over the forecast period of 2020-2027. As these vehicles use pure electric powertrain systems which eliminates the requirement of differentials.
Major market player included in this report are:
- American Axle
The regional analysis of global Automotive Differential market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to the large demand for Four wheel drive and growing automotive production in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rapidly increasing disposable income would create lucrative growth prospects for the Automotive Differential market across Asia-Pacific region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Differential Type:
Electronically Controlled Limited Slip
By Drive Type:
Front Wheel Drive
Rear Wheel Drive
All Wheel Drive/4 WD
By Vehicle Type:
Light Commercial Vehicle
Heavy Commercial Vehicle
- North America
- Asia Pacific
- Latin America
- Rest of the World
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