Automotive Differential Market worth $23.7 billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Nov. 15, 2022 /PRNewswire/ -- Automotive Differential Market is projected to grow at a CAGR of 3.5% during the forecast period, from an estimated market size of USD 20.0 billion in 2022 to USD 23.7 billion by 2027, according to a new report by MarketsandMarkets™. 

Browse and in-depth TOC on "Automotive Differential Market" 
240 – Tables
54 – Figures       
220 – Pages

Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id= 57980081

The Automotive Differential Market growth is influenced by factors such as the demand for SUVs/MUVs & premium cars and an increase in preference for AWD/4WD vehicles. Rising per capita disposable income and growing standard of living have noticed the shift to SUVs and premium vehicles with 4WD/AWD. Presently, the open differential is occupying the largest share as it costs lower compared to other types. However, with advancement in technology and need for better driving experience, the demand for electronic limited slip differential (e-LSD) and torque vectoring would grow in near future.

AWD/4WD is estimated to be the largest growing segment for automotive differentials

AWD/4WD is estimated to be the largest and fastest-growing market for automotive differential during the forecast period. The AWD/4WD differential demand is mainly driven by growing demand for full-size SUVs, crossovers, and premium sedan cars. Full-size SUVs had grown in recent years as Asia Pacific increased by 2.5% from 2018 to 2021 and globally, it is expected to grow at a CAGR of 6.7% during 2022-2027. The Americas holds the largest market share in full-size SUV and Europe would be the fastest growing market at a CAGR of 8.1% for full-size SUVs These vehicle types are expected to offer improved vehicle safety, stability, and enhanced driving dynamics during rainy, snowy, muddy, and off-roading terrains and hence, are equipped with AWD/4WD systems. The AWD/4WD systems use two differentials - front and rear and hence, demand for differentials will increase with the growing demand for AWD/4WD vehicles. Further, the rising adoption of 4X4, 6X4 drive configuration in light duty and heavy commercial trucks in Europe and Americas region would create the demand for differential in coming years.

Electronically controlled limited-slip differential (ELSD) is estimated to showcase the fastest growth in the Automotive Differential Market

The Electronically Controlled Limited Slip Differential (ELSD) is seeing a greater adoption rate owing to its better efficiency, unlike mechanical differentials. It provides better tractability and stability while cornering and delivers high torque requirements for large passenger vehicles. However, electronic limited slip differential is costlier than other types of differentials. Hence, as of now it has less penetration and ELSD is limited to premium car segments owing to high price. Some recent developments have been carried out in terms of design that allows enhanced driving experience even in high-performance settings without adding much cost. For instance, ELSD technology developed by Dana Inc. offers superior performance and does not add cost against open differential units installed in two-wheel drive vehicles. Thus, considering above aforementioned benefits of ELSD, growing demand of premium cars and rising R&D efforts to minimize the cost so can be used in lower price range vehicles, which would create the demand for ELSD in near future.

Request FREE Sample Report:
https://www.marketsandmarkets.com/requestsampleNew.asp?id= 57980081  

"Asia Pacific would be the largest market for automotive differentials."

Asia Pacific has witnessed significant year-on-year growth in the Automotive Differential Market. Asia Pacific holds the presence of leading automobile and automotive component manufacturers and hosts manufacturing plants of major OEMs such as Honda Motor Co., Ltd (Japan), Tata Motors Ltd (India), Toyota Motor Corporation (Japan), BYD Motors (China), Mitsubishi Motor Corporation (Japan), Suzuki Motor Corporation (Japan), and Subaru Corporation (Japan). Additionally, the rising rate of car ownership in China, India, Japan, and South Korea is expected to drive the demand for automotive differential in the region. Furthermore, Asia Pacific had witnessed the growth of 6.2% in full-size SUVs during 2019 to 2022. Asia Pacific region produce the ~50% of global SUVs in 2021 of which China manufactured 48% in the same year. Most of the full-size SUVs are equipped with AWD/4WD drive system which requires 2 differentials. Furthermore, adoption of AWD/4WD drive system in heavy trucks is gradually rising in this region. Thus, increasing share of full-size SUVs, and rising adoption of AWD/4WD drive system in heavy trucks will increase the demand for the Automotive Differential Market

Key Market Players

The Automotive Differential Market is led by established global suppliers such as GKN Driveline (UK), Eaton plc (Ireland), American Axle & Manufacturing Company (US), JTEKT Corporation (Japan), Dana Inc. (US), BorgWarner Inc (US), Linamar Corporation (Canada), Schaeffler AG (Germany), ZF (Germany), and Hyundai Wia Corporation (South Korea). These companies adopted several strategies to gain traction in the Automotive Differential Market. New product development, partnerships, and expansion strategies from 2018 to 2022 helped them to innovate its offerings and broaden its customer base.

Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id= 57980081

Browse Adjacent Market: Automotive and Transportation Market Research Reports & Consulting

Browse Related Reports:

All Wheel Drive Market - Global Forecast to 2027

Thermal Systems Market - Global Forecast to 2027 

Automotive Transmission Market - Global Forecast to 2027

Automotive Axle & Propeller Shaft Market - Global Forecast to 2025

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/automotive-differential-market.asp
 Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/automotive-differential.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg