Differential Assembly market is projected to reach $27,464.2 million by 2025

The global differential assembly market was reached 121.7 million units and valued at $22,390.8 million in 2019, and is projected to attain the demand for 145.6 million units and reach $27,464.2 million by 2025, registering a CAGR of 3.0% in terms of volume and 3.5% in terms of value from 2019 to 2025.

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Rest of world followed by Europe was the highest revenue contributor. Rest of world and Europe collectively accounted for around 51.9% share in 2019. China is the leading consumer in terms of volume sales of differential assembly, owing to automotive production facilities present in the region. Automotive differential can be defined as a device used to split engine’s torque in two ways, which allows each output to spin at a different speed. The differential is found in all modern passenger vehicles, commercial vehicles, and all drive vehicles. Wining long-term contracts is the key strategy followed by the market participants to gain competitive advantage in the global market.

The global starter motor market reached 132.5 million units in 2019, and is projected to reach 171.4 million units by 2025, registering a CAGR of 4.4%. China followed by rest of world was the dominating region in terms of unit sales. India and rest of world are expected to witness considerable CAGRs of 6.8% and 5.5%, respectively, during the forecast period.

Starter motor is an electric motor, which is used to start the internal combustion engine (ICE). As per the current automotive production scenario and existing on road automotive fleet, the starter motor is estimated to hold the significant position in the vehicle electrification market throughout the forecast period. However, increase in penetration of the battery electric vehicles, the threat of substitute is expected to experience by starter motor manufacturers. Green mobility initiatives fuel the growth for vehicle electrification, which in turn drive the demand for starter motor in the near future.

The global bevel gear market reached 127.1 million units and was valued at $ 2,337.1 million in 2019, and is projected to attain the demand for 149.9 million units and reach $2,819.5 million by 2025, registering a CAGR of 2.8% in terms of volume and 3.2% in terms of value from 2019 to 2025.

China followed by rest of the world was the dominating region in terms of unit sales. China and Europe collectively accounted for around 51.0% share in 2019. Increase in penetration of the 4WD and AWD vehicles is in turn to support the growth of the bevel gear market. Winning long-term contracts and agreement with differential assembly manufacturer or original equipment manufacturer creating long-term business opportunities for the bevel gear market players.

Key Findings Of The Study

In global differential assembly market, by vehicle type, the tractors segment is expected to register significant growth during the forecast period.
In global starter motor market, on the basis of vehicle type, the passenger car segment is projected to lead the global market in terms of market share.
In global bevel gear market, by region, rest of world dominated the market followed by Europe in 2019, and it is expected to maintain the leading market share by end of the forecast period.
The key players profiled in the report include American Axle & Manufacturing Inc, BorgWarner Inc., Dana Incorporated, Denso Corporation, Eaton, Hitachi Automotive Systems, Ltd., JTEKT Corporation, Meritor, Inc., Valeo, and ZF Friedrichshafen AG.

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This release was published on openPR.