All Wheel Drive Market 2022-2027: ZF Friedrichshafen AG, Continental AG, Magna International Inc, BorgWarner Inc, and JTEKT Corporation

The global all wheel drive market size is projected to reach USD 53.8 billion by 2027, from an estimated value of USD 35.9 billion in 2022, at a CAGR of 8.4%.

The growth is influenced by factors such as industrialization and growth per capita income in developing countries. Along with these factors, the rising popularity of premium cars and SUVs and are driving governments all over the globe to regulate their fuel efficiency and encourage adoption of all wheel drive systems. The expansion of the road network in Asia Pacific is expected to lead to the demand for personal vehicles and hence is expected to propel the demand for all wheel drive during the forecast period.

Download a Free Sample Report at https://www.reportsnreports.com/contacts/requestsample.aspx?name=296038

"Passenger Car segment is projected to be the largest market by 2027, owing to high demand and growing car ownership than commercial vehicles, which presents considerable growth opportunities for all wheel drive manufacturers"
The passenger cars such as high-end (premium) passenger cars and SUVs have seen rise in their share to total vehicle sales. The concerns about vehicle stability and safety have led to buyer-based demand. Among the various types of passenger cars, small trucks are more popular in Nort America, which has highest penetration of AWD systems as compared to other regions. Since the Asia Pacific has a significant car-ownership growth rate, the demand for the all-wheel drive passenger car is expected to grow during the forecast period.

"Automatic AWD segment is expected to be the fastest-growing segment throughout the forecast period owing to sophisticated handling and better drive experience, by system"
Advantages such as better traction, stability, torque, steering, and even distribution of weight are projected to make the Automatic AWD segment the fastest-growing segment. Developed countries are expected to increase their adoption of Automatic AWD in passenger cars faster as compared to emerging countries because of the regulations and the higher costs associated with adopting Automatic AWD. Also, Automatic AWD systems are best suited for high-end sports cars and the US as well as Europe is the largest market for premium vehicles, hence, the demand for Automatic AWD systems in the region is projected to grow during the forecast period.

Get a 25% Discount on the Global All Wheel Drive Market Research Report at https://www.reportsnreports.com/contacts/discount.aspx?name=296038

"BEV segment to hold the largest market share during the forecast period due to growing concern of vehicle safety of EVs"
Passenger safety regulations, the need for higher performance and ease of installation of AWD systems on BEVs are driving demand for AWD systems in BEVs. Moreover, BEVs are already equipped with complex electrical systems which reduce costs incurred on sensors and computers. The use of regenerative braking through all wheel drive systems can also improve the range of the EV. Developments in AWD technologies are further expected to drive the market.

"Asia Pacific market is expected to hold the largest market share by 2027"
The automobile industry in the Asia-Pacific has witnessed significant year-on-year growth. As the region is the leading automobile producer in the world and with its strong domestic demand it is expected to lead the all-wheel drive market. The region has the largest road network and has been experiencing rapid urbanization. Further, the national government have also announced initiatives toward the development of fuel-efficient transportation. Additionally, Asian countries are at the forefront of the adoption of fuel-efficient vehicles, which is expected to make the region a leading market for all wheel drive market.

In-depth interviews were conducted with CEOs, marketing directors, other innovation and strategy directors, and executives from various key organizations operating in this market.
• By Company Type: Tier-II- 55%, Tier-I- 32%, Others - 13%
• By Designation: C Level - 17%, Directors/Vice Presidents - 31% and Others - 52%
• By Region: North America - 59%, Europe - 25%, Asia Pacific - 10%, RoW-6%

ZF Friedrichshafen AG (Germany), Continental AG (Germany), Magna International Inc. (Canada), BorgWarner Inc. (US), and JTEKT Corporation (Japan)are the leading manufacturers of all wheel drive in the global market.

Research Coverage:
The study segments the all-wheel-drive market and forecasts the market size based on system type (automatic and manual), vehicle type (commercial vehicles and passenger cars), By EV type (battery electric vehicles and plug-in hybrid vehicles), By component (differential, transfer case, propeller shaft, power transfer unit and final drive unit), and region (Asia Pacific, Europe, North America and Rest of the World).

Direct Purchase of the Global All Wheel Drive Market Research Report at https://www.reportsnreports.com/purchase.aspx?name=296038

The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall all-wheel drive market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

+ 1 888 391 5441
sales@reportsandreports.com

ReportsnReports.com is your single source for all market research needs. Our database includes 500,000+ market research reports from over 95 leading global publishers & in-depth market research studies of over 5000 micro markets. With comprehensive information about the publishers and the industries for which they publish market research reports, we help you in your purchase decision by mapping your information needs with our huge collection of reports.

This release was published on openPR.