Fior Markets launched a study titled “Global Automotive Differential Market by Differential Type (Electronic Limited-Slip Differential, Locking Differential and Others), Drive Type, Vehicle Type, Hybrid Type, Off-Highway Vehicle Type, Component, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.
The global automotive differential market is expected to grow from USD 29.8 Billion in 2017 to USD 43.2 Billion by 2025 at a CAGR of 4.8% during the forecast period from 2018-2025. Consumer preferences for commercial & heavy-duty vehicles and high cost of investment in infrastructure may stimulate the growth of the market.
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All-Wheel Drive/ Four Wheel Drive (AWD/4WD) segment is anticipated to grow with the highest CAGR of 8.7%
Drive Type is segmented into Front Wheel Drive (FWD), Rear Wheel Drive (RWD), All Wheel Drive/ Four Wheel Drive (AWD/4WD). All-Wheel Drive/ Four Wheel Drive (AWD/4WD) segment is anticipated to grow with the highest CAGR over the forecast period. Increasing demand for SUVs is influencing the growth of this segment
Passenger cars segment valued around USD 12.96 Billion in 2017
Vehicle Type is bifurcated into Passenger Car (PC), Light Commercial Vehicle (LCV), Truck and Bus. The passenger cars is dominating the market in 2017. It is due to increasing sales of passenger cars and stringent rules and regulation of government.
Hybrid Electric Vehicles (HEVS) segment held the highest market share of 64.3% in 2017
The Hybrid Type is divided into Hybrid Electric Vehicles (HEVS), Plug in Hybrid Electric Vehicles (PHEVS)). The Hybrid Electric Vehicles (HEVS) segment held the highest market share in 2017 EVs are premium vehicles in terms of their price range and features offered and are fuel economic.
Agriculture tractors segment held largest market share of 33.60% in 2017
Off-Highway vehicle type is segmented into agriculture tractors, construction & mining equipment and forklift. The agriculture tractors segment held largest market share in 2017 as it is the fastest growing for automotive differential due to the increasing global population, degradation of soil fertility and irregular climatic changes
Differential bearing segment held market share of 45.6% in 2017
Component is divided into differential bearing, differential gear and differential case. The differential bearing segment held the highest market share in 2017 due to increasing demand across the world.
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacific held the largest market share of approximately 52.5% in 2017. The Asia Pacific region is a major manufacturing hub owing to the presence of a large number of contract manufacturers and high adoption of automation processes.
The major players of market include ZF Friedrichshafen AG, Eaton, BorgWarner, Schaeffler, GKN PLC, JTEKT Corporation, DANA Limited, and Drexler Automotive GmbH, Neapco Inc., Auburn Gear, LLC, AAM , Jiangsu Pacific Precision Forging Co., Ltd. (PPF)and others
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