Automotive Differential System Market Overview:
A differential split the power or torque that is generated by the engine so that different wheels or axles move independently with different speeds simultaneously. Increasing demand for SUVs, crossovers, compact SUVs and premium cars across the globe is considered one of the major driving factors to bolster the market for automotive differential over the forecast period. Asia-Pacific is projected to be the fastest-growing region owing to increase in production and sales of automobiles, majorly in China and India.
Automotive Differential System Market Size To Expand at a Notable CAGR Of 5% During 2019 – 2023
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Increased demand for the heavy duty & commercial vehicles and increase in investments on infrastructure leading to rise in construction equipment sales are the major factors driving the global automotive differential market. Rapidly growing demand for SUVs and premium cars is further expected to drive the global market. It is anticipated that growing technological developments in the automotive sector will further create opportunities for the global automotive differential market.
It is forecasted that the electronic slip disc differential will be more frequently used in automobiles during the forecast period. Also, there is a continuous increase in investments regarding the development of technology by manufacturers, which would facilitate better designing of automotive differentials. However, one of the major restraints of the global automotive differential market is the growing demand for electric vehicles.
Key Players Automotive Differential System Market are-
The prominent players in the global automotive differential system market include ZF Friedrichshafen AG (Germany), Eaton (Ireland), BorgWarnerInc. (US), Schaeffler AG (Germany), GKN plc (UK), JTEKT Corporation (Japan), Dana Limited (US), DREXLER AUTOMOTIVE (Germany), neapco (US), and Powertrax (US)
Automotive Differential System Market Segmentation:
Global automotive differential market is segmented on the basis of drive type, type, component, vehicle type, propulsion and region.
On the basis of drive type, the market has been segmented into 2WD and 4WD.
On the basis of type, the market has been segmented into electronic limited slip differential (ELSD), open differential, torque vectoring differential, locking differential and limited slip differential (LSD).
On the basis of component, the market has been segmented into differential gear, differential case and differential bearing.
On the basis of vehicle type, the market has been segmented into passenger car, commercial vehicle, truck, bus and off-highway vehicles.
On the basis of propulsion the market has been segmented into ICE and Hybrid vehicles.
Market Research Analysis:
In terms of region, the global market for the automotive differential is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is estimated to hold the highest revenue market share in 2017 and is expected to dominate during the forecast period. The presence of China, India, and Japan, where the sales of automobiles has been consistently increasing due to increased urbanization and growing purchase powers of consumers, has played a key role in this region.
Rise in initiatives to increase awareness regarding efficient vehicle shifter systems will further enhance the Asia-Pacific market size. In Europe, rise in construction equipment sales will drive the growth for the automotive differential market. Europe is estimated to hold the second highest revenue market share and expected to continue its steady growth during the forecast period.
Table of Contents
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.2 Research Objective
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 Porter’s Five Forces Analysis
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
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