Press release
Automotive Multi-Wheel Drive Market Growth Focusing on Trends & Innovations During the Period Until 2027
Automotive Multi-Wheel Drive Market
Multi-wheel drive system comprises 2×2, 4×4, 6×6, or 8×8 drive-train systems that include a differential between the fronts and rear drive shafts. Vehicle with 4 x 4 drive system supplies power from the engine to both front and rear axles. However, 4 x 4 drive systems fail to manage the power on individual wheels and cause issues during high-speed turns. The all-wheel drive (AWD) system introduced the concept of differential power, which enables the vehicle to control the torque received at each wheel. Therefore, AWD systems achieve higher efficiency, performance, and safety compared to other drive systems, resulting in the growth of the automotive multi-wheel drive market in near future.
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COVID-19 scenario analysis:
COVID-19 has resulted in significant fall in demand for automobiles, which has affected the automotive multi-wheel drive market.
COVID-19 has created panic among travelers and resulted in no demand for automotive multi-wheel drive.
COVID-19 resulted in no traffic and decline in growth of the automotive multi-wheel drive market.
COVID-19 pandemic has halted the travel industry. This led to slower production of automotive multi-wheel and is expected to restart only when the situation is stable.
Each and every business is facing a downfall due to the spread of the virus.
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Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
The significant factors that impact the growth of the automotive multi-wheel drive market are rise in need for fuel efficiency, control & stability in heavy vehicles, increase in safety awareness across the world, and affordability of multi-wheel drive. Moreover, lack of awareness regarding manual & automatic multi-wheel drive system and stringent fuel economy norms in some countries hamper the growth of the automotive multi-wheel drive market. Furthermore, shift in consumer preference toward comfort & luxury driving and increase in demand for SUVs and sports vehicles are expected to fuel in the growth of the automotive multi-wheel drive market.
Rise in need for fuel efficiency, control, & stability in heavy vehicles
Multi-wheel drive systems have evolved from the need for better fuel efficiency, safety, stability, control, and driving experience. These features prompt automobile companies to invest extensively in such systems. The market for these systems is driven by increase in demand for SUVs. Therefore, this leads to the growth of the multi-wheel drive system market in near future.
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Increase in safety awareness across the world & affordability of multi-wheel drive
The automotive industry is inclined toward using advanced technologies to reduce crashes and mitigate the impact of accidents on passengers. In addition, multi-wheel drive systems play an important role to provide safety. Furthermore, these systems are also affordable, which leads to the growth of the multi-wheel drive system market in near future.
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