Automotive Differential Market Size, Share & Industry Analysis, By Type (Electronic Limited-Slip Differential (ELSD), Limited-Slip Differential (LSD), Locking Differential, Open Differential, Torque Vectoring Differential), By Drive Type (All Wheel Drive/Four Wheel Drive, Front-Wheel Drive, Rear Wheel Drive), By Vehicle Type (Light Commercial Vehicle, Passenger Car, Truck) And Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
During the estimated period, the market is expected to be driven by rising demand for cars worldwide due to urbanization, increased average buying power, and an improved standard of life among consumers. The Global Automotive Differential Market study offers a comprehensive analysis of the industry.
As the outer wheels must traverse a bigger circumference, the automotive differential assists in smooth operations by rotating the wheels at various speeds. It is a rear axle assembly component of rear-wheel drives. It consists of rear drive axles and rear axle housing, which splits or permits the power generated to move the wheels independently.
The COVID-19 dilemma is causing uncertainty in the automobile differential industry by slowing supply chains, stifling corporate growth, creating unclear demand scenarios, and increasing customer concern. The sale of automotive differentials is inextricably linked to the production and sale of automobiles worldwide. If the lock does is not removed, production loss is expected to rise.
Key Market Driver -
• Rising demand for commercial & heavy-duty vehicles • High investment in infrastructure to fuel the demand for construction equipment
Key Market Restraint -
• Rising need for electric buses and trucks • Growing awareness about electric vehicles which stimulates their demand.
Market Segmentation:
The automotive differential market is segmented into Service type, drive type, vehicle type.
By Type, the market is divided into Electronic Limited-Slip Differential (ELSD), Limited-Slip Differential (LSD), Locking Differential, Open Differential, and Torque Vectoring Differential. The Open Differential part is predicted to be the most popular. The factors can be attributed to its lower cost and its better traction on good condition roads.
By Drive type, the market is segmented into three categories: all-wheel drive/four-wheel drive, front-wheel drive, and rear-wheel drive. Because of the growing desire for increased vehicle safety, stability, and enhanced driving dynamics and the increasing demand for SUVs, the All-Wheel-Drive/Four Wheel Drive market is expected to develop at the fastest rate during the forecasted period.
By Vehicle Type, the market is segmented into Bus, Light Commercial Vehicle, Passenger Car, and Truck. The Passenger Car sector is estimated to account for the majority of the market. The factors can be credited for the increasing per capita income and improved standard of living.
Key Players: American Axle & Manufacturing Inc., Eaton Corp. Plc, GKN plc, Inamar Corp., Melrose Industries Plc., Mitsubishi Group, Meritor Inc., Metaldyne Performance Group Inc., AmTech International, Bharat Gears Ltd., Dana Ltd., NSK Ltd., Neapco Inc., ONDO SHINSHO Precision Technology Corporation, Showa Corporation, ZF TRW, JTEKT Corp., and Johnson Electric.
Regional Analysis:
Region is segmented across Europe, North America, Asia-Pacific, and the Rest of the world.
Asia-Pacific region dominates the automotive differential market due to the increasing vehicle production in countries such as China, a key contributor, and India. The region's demand for automotive differential is expected to increase significantly.
Europe region is the second fastest-growing in the automotive differential market. The increase in sales for automotive vehicles and the growing demand for luxury and comfortable cars such as SUVs have paved the way for more technological advancement.
North America region is the fastest growing and mature region in the automotive differential market. Due to increasing demand for passenger cars and show significant growth over the forecast period.
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Segmentation
ATTRIBUTES | DETAILS |
By Type |
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By Drive Type |
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By Vehicle Type |
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By Geography |
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- Ongoing
- 2023
- 2019-2022
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