Automotive Differential Market is Projected to Reach Around USD 31.8 Billion by 2027
The Global Automotive Differential Market is projected to reach around USD 31.8 billion by 2027 at a CAGR of around 4.42%.
The automotive differential is designed to transfer the torque/power generated from the driveshaft and allow wheels to rotate and spin at a different speed. This is an essential component when the vehicle turns and by making the wheel that is running around the outside of the turning curve roll far and faster than each other. Differential is needed between each set of drive wheel’s one is in the front wheel and the other is in the back wheel as the front wheel travel at a different distance during a turn than the back wheel.
Automotive Differential Market: Driver & Restraint
Market Driver:
Rise in Heavy-Commercial Vehicles
Automotive differential plays an important role in all-wheel-drive vehicles as it allows the wheel to rotate at different speeds. Due to the rise in industrial production and urbanization, demand for heavy commercial vehicles such as tractors, trucks, trailers, and others has increased which is directly propelling the automotive differential market growth. According to International Organization of Motor Vehicle Manufacturers (OICA) in 2018, around 26 million commercial vehicles were sold globally.
Therefore, the rise in heavy-commercial vehicles is expected to drive market growth during the forecast period.
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Increase in Vehicle Production
Due to the rise in vehicle production in developing countries and economic growth in regions such as India, Japan, Malaysia, Russia, Brazil, and others have increased the demand for the automotive differential market. According to OICA, in 2018, India, Malaysia, Thailand, Russia, and others are the prominent countries that have shown positive growth of 8%, 12.2%, 9%, 13.9%, respectively.
Thus, the growing vehicle production is anticipated to boost the market growth during the forecast period.
Market Restraint:
Growing Demand for Electric Vehicles
Electric vehicles are powered by in-wheel motors so they can deliver torque independently and directly to the wheels without having differential. These vehicles use electric powertrain systems which erase the requirement of differentials. The growing demand for electric vehicles acts as the major restraint for the automotive differential market. According to the International Energy Agency (IEA), in 2018, the global electric car sales increased by 2 million compared to 2017.
Hence, the growing demand for electric vehicles is expected to restrain the market during the forecast period.
Automotive Differential Market: Key Segments
- Based on Type: Open Differential, Limited-slip Differential, Electronically Controlled Limited-Slip Differential, Locking Differential, and Torque-Vectoring Differential.
- Based on Drive Type: Front-Wheel Drive (FWD), Rear-Wheel Drive (RWD), and Four Wheel Drive (4WD)/All-Wheel Drive (AWD).
- Based on Component: Differential Gears, Differential Case, Differential Pin, Differential Bearings and Others.
- Based on Vehicle Type: Internal Combustion Engine (ICE) and Electric Vehicles.
- Based on Region Covers: North America, South America, Europe, Asia-Pacific, and Middle East & Africa with individual country-level analysis.
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Automotive Differential Market: Report Scope
The report on the automotive differential market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
List of the leading companies operating in the Automotive Differential Market include:
- BorgWarner Inc. (US) (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- ZF Friedrichshafen AG (Germany)
- Continental AG (Germany)
- Melrose Industries PLC (UK)
- Eaton (Ireland)
- Linamar Corporation (Canada)
- American Axle & Manufacturing, Inc. (US)
- Dana Limited (US)
- Schaeffler AG (Germany)
- JTEKT Corporation (Japan)
- Other Key Companies
Automotive Differential Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Automotive Differential Market, by Type
- Open Differential
- Limited-slip Differential
- Electronically Controlled Limited-Slip Differential
- Locking Differential
- Torque-Vectoring Differential
Automotive Differential Market, by Drive Type
- Front-Wheel Drive (FWD)
- Rear-Wheel Drive (RWD)
- Four Wheel Drive (4WD) / All-Wheel Drive (AWD)
Automotive Differential Market, by Component
- Differential Gears
- Differential Case
- Differential Pin
- Differential Bearings
- Others
Automotive Differential Market, Vehicle Type
- Internal Combustion Engine (ICE)
- Electric Vehicles
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Automotive Differential Market by Region
- Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
- North America (US, Canada, Mexico)
- Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
- Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
- South America (Brazil, Argentina, Rest of South America)
KEY QUESTIONS ANSWERED BY THE REPORT
- What are the prominent developments affecting the market globally and its growth?
- What will be the impact of the developments in the market on the industry and the market players in the future?
- What are the evolving variations of the market worldwide?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the world?
- How are the key players leveraging in the present market scenario globally?
Table of Content
- INTRODUCTION
- RESEARCH DESIGN & SCOPE
- EXECUTIVE SUMMARY
- MARKET DYNAMICS
- INDUSTRY TRENDS — PORTERS FIVE FORCES ANALYSIS
- AUTOMOTIVE DIFFERENTIAL MARKET BY TYPE, Market Size in USD Million and Units (2019–2027)
- AUTOMOTIVE DIFFERENTIAL MARKET BY DRIVE TYPE, Market Size in USD Million and Units (2019–2027)
- AUTOMOTIVE DIFFERENTIAL MARKET BY COMPONENT, Market Size in USD Million and Units (2019–2027)
- AUTOMOTIVE DIFFERENTIAL MARKET BY VEHICLE TYPE, Market Size in USD Million and Units (2019–2027)
- AUTOMOTIVE DIFFERENTIAL MARKET BY REGION, Market Size in USD Million and Units (2019–2027)
- COMPETITIVE LANDSCAPE
- COMPANY PROFILES
- APPENDIX
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