Global Heavy Vehicle Differential Market to Witness Heightened Growth During the Period 2018 - 2026

Introduction

Heavy vehicle differential is used to drive a pair of wheels and allow them to rotate at different speeds. In assessing potential future of heavy vehicles, differentials are expected to gain high traction in auto components manufacturing industry. Moreover, corresponding growth of the number of heavy vehicle in vehicle parc, deliver positive growth outlook for the heavy vehicle differential industry over the forecast period. Heavy vehicle differential is categorized as open Differential, lock differential, electronic differential, and limited slip differential. Locking differential is the most commonly used differential in full size trucks. Increasing competitive scenario enforce the automakers to intensify the design and efficiency. Manufacturers are gaining future momentum from Industry 4.0 concepts that integrate the modern truck much deeper into the value chain. Such heavy vehicles are integrated with the advanced vehicle components. To increase the productivity of heavy vehicles, market players are introducing lightweight and efficient auto components. Such factors accelerate the growth for the heavy vehicle differential market over the years.

Heavy vehicle differential Market: Dynamics

Commercial vehicle production and its use is expected to be significant in emerging countries as compared to that in the developed economies. Sales of automotive heavy vehicle differential are directly associated with the vehicle parc and automotive production. This is mainly attributed to the increasing urbanization and industrialization. Over the forecast period, heavy vehicle on road is anticipated to increase at a moderate CAGR, which provide opportunities for growth of the heavy vehicle differential market. Over the years, to minimize power loss in the vehicle drivetrain, automakers prefer lightweight components for the vehicles. In the heavy vehicle industry, there is weight restriction for each class, so automotive manufacturers often put efforts to reduce the weight by using lightweight components. For instance, Eaton is focusing on developing drivetrain components, such as vehicle differentials, transmission gears, and differential housings, made of steel and thermoplastics. In developing countries such as Mexico, Brazil, South Africa, and India there is an increasing demand for HCV mainly due to the increasing commercial activities in these regions.

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However, the low replacement rate of heavy vehicle differential is expected to slow down the aftermarket demand for the heavy vehicle differential market.

Heavy vehicle differential Market: Segmentation:

Heavy vehicle differential market can be segmented on the basis of differential types, and sales channel.

On the basis of differential type, heavy vehicle differential market is segmented as

Open heavy vehicle Differential
Lock heavy vehicle Differential
Limited Slip heavy vehicle Differential
Electronic heavy vehicle Differential

On the basis of sales channel, heavy vehicle differential market is segmented as

OEM
Aftermarket

Heavy vehicle differential Market: Regional Analysis:

North America is expected to witness high growth in heavy vehicle differential market. The automotive industry in North America is shifting toward developing more fuel efficient as well as emission free vehicles. As a result, the global market has witnessed high surge in production of lightweight vehicles and is expected to grow significantly in coming years. Increasing growth of commercial logistics, mining and construction sector in the developing regions, has aided rise in sales of commercial vehicles which deliver significant growth for the heavy vehicle differential market. Europe followed by the Asia Pacific is also estimated to deliver the substantial growth in the heavy vehicle differential market. Growing construction and mining activities in the Asia Pacific region, driving the demand for heavy commercial vehicle. With rising demand for the heavy vehicle in the region, growth for heavy vehicle differentials market is also expected to bolster over the years. High adoption in developing automotive market, supported by aftermarket opportunities for replacement in old vehicles, is expected to drive market growth during the forecast period. Latin America and MEA are also expected to register moderate growth in heavy vehicle differential market.

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Heavy vehicle differential Market: Key Market Participants:

Examples of some of the market participants in the global Heavy Vehicle Differential market identified across the value chain include

GKN Plc
Eaton
American Axle & Manufacturing Inc.
JTEKT Corporation
Dana Limited
BorgWarner Inc.
Linamar Corporation
Schaeffler Group
ZF Friedrichshafen AG
Continental AG
Jiangsu Pacific Precision Forging Co., Ltd. (PPF)
Auburn Gear, LLC

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