Four-Wheel Drive Vehicles (4WD) Market To Dominated By North America From 2019 To 2023

Market Research Future Published a Research Report on Global Four-Wheel Drive Vehicles (4WD) Market Research Report. The four-wheel drive vehicles market is expected to grow at 6% CAGR during the period 2019 to 2023. The demand for four-wheel drive vehicles is expected to increase with significant growth rate all over the world, majorly in the emerging markets. The development of the intelligent torque vectoring for four-wheel drive vehicles is driving the growth of the market. The introduction of technological innovations in these vehicles is enabling the integration of advanced systems in automotive four-wheel drive vehicles.

The prominent players in the four-wheel drive vehicles market include Daimler AG (Germany), Mitsubishi Motors Corporation (Japan), BMW (Germany), Toyota Motor Corporation (Japan), Ford Motor Company (U.S.), and Groupe Renault (France).  Tata Motors Limited (India), Hyundai Motor Company (South Korea), Volkswagen AG (Germany), Volvo (Sweden), Fiat S.p.A (Italy), Nissan Motor Company Ltd (Japan), and Honda Motor Company, Ltd. (Japan) are among others.  

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On the basis of end-use, the market has been segmented as road racing, heavy trucks, and construction equipment. Amongst these, the heavy trucks segment is expected to grow the highest over the forecast period. Heavy trucks are considered LCVs with open cargo areas at their rear. The heavy trucks have off-road capabilities with differently tuned transmission, suspension systems and engines. The increase in demand for heavy trucks in countries such as U.S., Canada, and China are contributing in the growth of the automotive four-wheel drive vehicles market. The global automotive four-wheel drive vehicle market is also witnessing growth due to the increase in personal use of these vehicles.

Geographically, the global four-wheel drive vehicles market has been divided into the four major regions of North America, Europe, Asia Pacific and Rest of the World. The global four- wheel drive vehicle market is diversified across all geographies, with North America region holding the major share of the market. The market in North America is mainly based in the countries such as the U.S. and Canada. The North America market is followed by the Asia Pacific region.

The market is highly price sensitive. Customers prefer vehicles that provide the maximum value for money. At the same time, the cost of four-wheel drive systems increase the cost of the automobile. Therefore, to focus on achieving cost efficiency, is a major objective of the manufacturers.

The report for Global Four-Wheel Drive Vehicles Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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