Automotive Differential Market Strategies 2020- 2026 Top Growing Companies Eaton, Dana, ZF Friedrichshafen AG, Schaeffler Technologies AG & Co. KG, BorgWarner, Continental AG, JTEKT Corporation

As per the report published by Allied Market Research, the global automotive differential market accounted for $19.16 billion in 2018, and is projected to garner $28.57 billion by 2026, growing at a CAGR of 5.2% from 2019 to 2026.

Rise in demand for commercial vehicles and rise in automobile manufacturing have boosted the growth of the global automotive differential market. However, surge in manufacturing of vehicles with in-wheel electric motors hampers the market. On the contrary, manufacturing of electronic limited-slip differential is expected to open new opportunities for the market players in the coming years.

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Differential system offers better traction on roads and fuel efficiency, as it splits power or torque generated by engine to allow wheels or axles move independently at different speeds. The increasing vehicle production along with demand for all wheel drive vehicles is a major driver for the differential market. It allows the outer drive wheel to rotate faster than the inner drive wheel, which is necessary when a vehicle turns, to improve driver safety and deliver better vehicle handling. By drive type, AWD/4WD is anticipated to be the largest and the fastest growing automotive differential market for automotive differential during the forecast period.

Growing demand for SUVs, increasing demand for improved vehicle safety, stability, and enhanced driving dynamics has led to the increase in adoption of AWD/4WD drive differential systems. ELSD (Electronically Controlled Limited Slip Differential) is another fastest growing automotive differential market for ICE and hybrid vehicles, which is expected to increase the focus of automotive OEMs to replace mechanical parts with compact electrical components for better fuel-efficiency.

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The factors that drive the market include increase in demand for SUVs, crossovers, compact SUVs, improvement in economic conditions, rise in industrialization, inclination toward all wheel and four wheel drives integrated vehicles, and improvement in the living standards of consumers, which has increased the popularity of off-road vehicles and sports cars. In addition, the factors that restrain the automotive differential market growth include increase in demand for electric vehicles, high maintenance and repairing cost of EVs. However, emerging economic conditions, increasing population, and per capita income of public in developing countries opens up a wide range of opportunities for the growth of the market around the globe.

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Key Market Segments

By Differential Type:
o Open Differential
o Locking Differential
o Limited-Slip Differential
o Electronically Controlled Limited-Slip Differential
o Torque Vectoring Differential

By Drive Type:
o Front wheel drive (FWD)
o Rear wheel drive (RWD)
o All wheel drive/Four wheel drive (4WD)

By On Highway Vehicles:
o Passenger Cars
o Light Commercial Vehicles
o Trucks
o Buses

By Hybrid Vehicles
o HEVs
o PHEVs

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Key Market Players Profiled
o GKN plc
o Eaton
o American Axle
o ZF
o Continental
o Auburn Gear
o Powertrax
o The Schaeffler Technologies AG & Co. KG
o JTEKT Corporation
o Dana Limited

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