Press release
Automotive Differential Market: Emerging Trends and Regional Impact Unveiled | American Axle & Manufacturing Inc., (AAM), BorgWarner Inc., Dana Incorporated, Eaton Corporation PLC, Hyundai Wia Corporation
Automotive Differential Market Size
The Business Research Company's Automotive Differential Global Market Report 2023 identifies The rapidly expanding demand for SUVs as the major driver for the automotive differential market's growth in the forecast period. SUVs (sport utility vehicles) are four-wheel-drive vehicles that can be driven over various types of roads. Differentials are a crucial part of all types of vehicles, including SUVs, as they transfer the power from the engines to the wheels and let the wheels spin at different speeds, which helps the vehicle turn smoothly without losing stability or slipping.
The global automotive differential market size grew from $21.14 billion in 2022 to $22.74 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive differential market size is expected to grow to $29.17 billion in 2027 at a CAGR of 6.4%.
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Major competitors in the automotive differential market are American Axle & Manufacturing Inc., (AAM), BorgWarner Inc., Dana Incorporated, Eaton Corporation PLC, Hyundai Wia Corporation, JTEKT Corporation, Linamar Corporation, Melrose Industries PLC, Schaeffler Technologies AG & Co. KG, ZF Friedrichshafen AG, GKN plc, Drexler Automotive GmbH, Neapco Inc., Magna International Inc., PowerTrax, Auburn Gear Inc., Honda Motor Company Ltd., Toyota Motor Corporation, Volkswagen, Mercedes-Benz, Bayerische Motoren Werke AG, Maruti Suzuki India Limited, The General Motors Company, Jiangsu Pacific Precision Forging Co. Ltd. (PPF), R.T. Quaife Engineering Ltd., and Tianjin Tanhas Technology Co. Ltd.
A key trend in the automotive differential market includes Technology development. Major companies operating in the automotive differential market are developing and launching new technologies such as differentials with enhanced performance and functionality. For instance, in June 2020, Eaton Corporation an Ireland-based power management company launched InfiniTrac, a variable-bias limited-slip differential that is electronically controlled and hydraulically activated to provide optimal vehicle performance at every speed and traction condition. It operates as an open differential until torque is required, at which point it adds the necessary torque to respond to changes in speed and road conditions.
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The automotive differential market is segmented -
• By Type: Locking Differential, Limited-Slip Differential (LSD), Open Differential, Torque Vectoring Differential
• By Drive: Front Wheel Drive (FWD, Rear Wheel Drive (RWD), All-wheel drive (AWD)/Four Wheel Drive (4WD)
• By Vehicle: Passenger Cars, Commercial Vehicles, Electric Vehicles
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the automotive differential market.
The Business Research Company's "Global Automotive Differential Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Automotive Differential Market Include:
1. Executive Summary
2. Automotive Differential Market Characteristics
3. Automotive Differential Market Trends And Strategies
4. Automotive Differential Market - Macro Economic Scenario
5. Automotive Differential Market Size And Growth
……
26. Africa Automotive Differential Market
27. Automotive Differential Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Differential Market
29. Automotive Differential Market Future Outlook and Potential Analysis
30. Appendix
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