All-Wheel Drive Market Report 2023-2032: Market Size, Share, Overview And Share Analysis | Volkswagen AG, Toyota Motor Corporation, Stellantis NV, Bayerische Motoren Werke AG, Mercedes-Benz

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's All-Wheel Drive Global Market Report 2023 identifies increase in demand for electric vehicles as the major driver for the All-Wheel Drive market's growth in the forecast period. An electric vehicle refers to a vehicle that runs on electrical energy stored in batteries or other energy storage devices to power one or more electric motors. Electric cars with all-wheel drive (AWD) often have an electric motor at each axle or wheel, giving all wheels control at once.

The global all-wheel drive market is expected to grow from $34.57 billion in 2022 to $37.66 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. 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 all-wheel drive market is expected to reach $51.26 billion in 2027 at a CAGR of 8%.

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Major competitors in the All-Wheel Drive market are Volkswagen AG, Toyota Motor Corporation, Stellantis NV, Bayerische Motoren Werke AG, Mercedes-Benz.

A key trend in the All-Wheel Drive market includes Product Innovations. Major companies operating in the all-wheel-drive market are innovating new products to sustain their position in the market. For instance, in December 2020, Nissan Motor Corporation, a Japan-based automobile manufacturer, launched Note e-POWER AWD compact car with dual electric motors, driver-enhanced control, and acceleration. The Note AWD's front and rear electric motors have been specially designed to transmit power to each wheel, creating a new level of driving enjoyment. All four wheels have access to regenerative braking, and the vehicle's all-wheel control facilitates precise handling and stable, smooth deceleration.

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The All-Wheel Drive market is segmented -

1. By Type: Automatic All-Wheel Drive, Manual All-Wheel Drive
2. By Propulsion: Internal Combustion Engine (ICE) Vehicle, Electric Vehicle, Battery Electric Vehicle (BEV), Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle (PHEV)
3. By Component: Differential, Transfer Case, Propeller Shaft, Power Transfer Unit, Final Drive Unit
4. By Vehicle: Passenger Vehicle, Commercial Vehicle
5. By Application: On-Road, Off-Road
6. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the All-Wheel Drive market.

The Business Research Company's "Global All-Wheel Drive 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 All-Wheel Drive Market Include:

1. Executive Summary
2. All-Wheel Drive Market Characteristics
3. All-Wheel Drive Market Trends And Strategies
4. All-Wheel Drive Market - Macro Economic Scenario
……
32. Global All-Wheel Drive Market Competitive Benchmarking
33. Global All-Wheel Drive Market Competitive Dashboard
34. Key Mergers And Acquisitions In The All-Wheel Drive Market
35. All-Wheel Drive Market Future Outlook and Potential Analysis
36. Appendix

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