Global Transfer Case Market – Growth Rate, Trends, Covid-19 Impact & Forecasts

Transfer case is a special type of drive-train component of the four-wheel-drive (4WD), all-wheel-drive (AWD), and other multiple powered axle vehicles. It transfers the engine power from transmission unit to the front or rear axle as per the necessities. It performs power transmission operations carried out through chain & gear driven. Transfer case is generally equipped directly to the transmission or fixed separately from the vehicle transmission system as per the performance constraint of the vehicle. Its demand is strongly driven by global automotive manufacturing & sales activity. This is due to the fact that transfer cases are normally used in SUVs & off-road vehicles, where end users’ key concerns are enhanced safety, traction, and operating efficiency. Growth in implementation of stringent government regulations related to automobile emissions and increase in adoption of sustainable & environment friendly automotive components will augment the market demand for transfer case throughout the forecast period.

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In terms of application, transfer case market is segregated as passenger cars and commercial vehicles. Passenger vehicle is major segment for automotive transfer case market with highest market share. Rising demand for luxury passenger cars coupled with increase in popularity of electric & hybrid passenger vehicles are the key factors responsible growth of the transfer case market.

Referring to the study, ‘Global Transfer Case Market, 2021-2027’ the key companies operating in the global transfer case market include Magna International Inc, Allison Transmission Inc., ZF Friedrichshafen, Aisin Seiki Co., Ltd., JATCO Ltd., Zhejiang Geely Holding Group Co., Ltd. and among others.

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Increase in preference for powerful & high clearance vehicle, followed by rise in sales of SUV & premium Sedans, increase in sales of hybrid electric vehicles, rise in need of low range gears & chain drive, increase in demand for operationally efficient vehicle dynamics, growth in inclination of consumers towards high clearance vehicles and rise in demand for safety, traction in extreme weather conditions, and towing the capabilities for SUVs or light trucks are some major factors, which are responsible for growth of the transfer case market. Apart from this, high adoption & maintenance cost of vehicles equipped with All-wheel drive (AWD) and rise in demand for battery electric vehicles may impact the market. Moreover, rise in demand for lightweight transfer cases is a leading opportunity for global market.

Based on regional analysis, the Asia-Pacific is a leading region in global transfer case market owing to rapid developments in the charging infrastructure, stringent regulatory norm on reducing environmental footprints & energy consumption and increase in government incentives across the region. The Europe and North-America regions are estimated to exhibit considerable growth rate due to growth in production of the vehicle over the forecast period. Furthermore, growth in inclination of consumers & manufacturers in the region towards the material procurement & highly flexible systems are the major factors driving the product demand in the region. It is projected that future of the global transfer case market will be bright as a result of increase in fuel efficiency standards coupled with rise in need for high strength in the off-road vehicles to increase the overall efficiency during the forecast period.

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