Press release
Differential Assembly, Starter Motor and, Bevel Gear Market Business Strategies, Technological Innovation, Trends & Top Players by 2030 | Top Companies: BorgWarner Inc., JTEKT Corporation, Dana Limited, American Axle & Manufacturing Holdings, Inc., GKN, H
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According to the report published by Allied Market Research, the global differential assembly industry was pegged at $22.3 billion in 2019, and is anticipated to garner $27.4 billion by 2025, registering a CAGR of 3.5% from 2019 to 2025. At the same time, the global starter motor market was estimated at $6.83 billion in 2019, and is projected to garner $9.14 billion by 2025, growing at a CAGR of 5.0% from 2019 to 2025. Moreover, the global bevel gear market has garnered $2.33 billion in 2019, and is expected to hit $2.81 billion by 2025, manifesting a CAGR of 3.2% throughout the forecast period.
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Increase in adoption of fuel-efficient mobility solution coupled with effective performance requirements, growing penetration of the AWD and 4WD vehicles, and rise in demand for commercial vehicles fuel the growth of the global differential assembly, starter motor, and bevel gear market. At the same time, increase in production and sales of automotive from past two years and increase in production of vehicles with in-wheel electric motors restrain the growth to some extent. Moreover, production of electronic limited slip differentials is anticipated to pave the way for numerous opportunities in the coming period of time.
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Covid-19 scenario-
The covid-19 outbreak disrupted the supply chain and restrained business development. This in turn decreased the automotive production worldwide.
However, as the government bodies have issued relaxations on the existing regulations, the global differential assembly, starter motor, and bevel gear market is expected to revive soon.
The differential assembly market is segmented by vehicle type into passenger car, light commercial vehicles, heavy commercial vehicles, and tractors. Based on vehicle type, the passenger car segment held the largest market share with nearly three-fourths of the global differential assembly market share in 2019, and is projected to rule the roost by 2025. However, the tractors segment is expected to manifest the fastest CAGR of 5.7% throughout the forecast period.
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On the basis geography, the market across Europe dominated with major market share in 2019, with around one-fourth of the global differential assembly market. In addition, the market across India is expected to showcase the fastest CAGR of 4.1% from 2019 to 2025.
The key market players profiled in the Differential Assembly, Starter Motor and, Bevel Gear Market report include BorgWarner Inc, JTEKT Corporation, Dana Limited, American Axle & Manufacturing Holdings, Inc., GKN, Hyundai WIA Corporation, Eaton, Schaeffler Technologies AG & Co. KG., ZF Friedrichshafen AG, and Linamar Corporation.
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Differential Assembly Market to Hit $27.4 Billion by 2025 | Starter Motor and, Bevel Gear Market | https://www.globenewswire.com/news-release/2021/02/15/2175523/0/en/Differential-Assembly-Market-to-Hit-27-4-Billion-by-2025-Starter-Motor-and-Bevel-Gear-Market.html
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