Market Analysis
The global Automotive differential system market is predicted to grow at a 5% CAGR between 2022- 2030 states the recent Market Research Future (MRFR) analysis.
The automotive differential system was developed specifically to drive a set of wheels and allow them to travel at different speeds. The various types of automotive differential systems include open differential, limited-slip differential (LSD), torque vectoring differential, locking differential, and limited electronic slip differential (ELSD). Several factors are responsible for the market share of automobile differential systems. The most recent MRFR research lists these factors as an increase in the demand for large and light commercial vehicles, greater road traction, increasing investment in creating better infrastructure, rising disposable income, and a preference for luxury vehicles. A growing automotive industry, increasing vehicle production, the application of cutting-edge technology, and inventive design are other factors promoting market progress.
Key Players
Eminent players profiled in the global market report include Powertrax (US), Neapco (US), DREXLER AUTOMOTIVE (Germany), Dana Limited (US), JTEKT Corporation (Japan), GKN Plc (UK), Schaeffler AG (Germany), BorgWarnerInc. (US), Eaton (Ireland), ZF Friedrichshafen AG (Germany), and others. Industry players have incorporated different strategies to create a niche in the market and also cater to consumers growing needs such as acquisitions and mergers, partnerships, joint ventures and collaborations, extensive R&D, strategic alliances, geographic locations, and many others.
Market Segmentation
The MRFR report provides an inclusive segmental analysis of the global automotive differential system market based on propulsion, vehicle, component, type, and drive.
By drive, the global automotive differential system market is segmented into 4WD and 2WD. Of these, the 4WD segment will lead the market over the forecast period.
By type, the global automotive differential system market is segmented into limited-slip differential (LSD), torque vectoring differential, locking differential, limited electronic slip differential (ELSD), and open differential.
By component, the global automotive differential system market is segmented into differential bearing, differential gear, and differential case.
By vehicle, the global market is segmented into off-highway vehicles, truck, bus, passenger Automotive, and commercial vehicle. Among these, the passenger Automotive segment will dominate the market over the forecast period.
By propulsion, the global market is segmented into hybrid vehicles and ICE.
Region Analysis
Based on the region, the global market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Of these, the APAC region is predicted to have lions share over the forecast period. Growing awareness, growing urbanization, booming aftermarket industry, and increased production & sales of automobiles are adding to the global automotive differential system market growth. India, South Korea, and China have the largest share in the market.
The global market in Europe is predicted to hold the second-largest share over the forecast period for the growing demand for passenger Automotives.
The global market in North America is predicted to have healthy growth over the forecast period. Burgeoning demand for passenger Automotives is adding to the global market growth in the region.
The global market in the RoW is predicted to have steady growth over the forecast period. The growing adoption of advanced technology related to four-wheel drive in Saudi Arabia, Qatar, and the UAE, is adding to the global market growth over the forecast period.
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