All-Wheel Drive Market Accelerated by Changing Consumer Preferences on the Fast Track will Grow at a CAGR of 7.8% Over the Forecast Period 2023-2030

The SNS Insider report indicates that the All-Wheel Drive Market was valued grow at a CAGR of 8.0% over the forecast period 2024-2031.

All-Wheel Drive Market Continuous advancements in automotive technology have led to the development of more sophisticated AWD systems. These systems offer improved traction, stability, and performance across various driving conditions, enhancing the driving experience and safety.

Key Players -

GKN PLC (UK)
American Axle & Manufacturing Inc. (US)
Magna International Inc. (Canada)
BorgWarner Inc. (US)
ZF Friedrichshafen AG (Germany)
Continental AG (Germany)
Dana Limited (US)
JTEKT Corporation (Japan)
Oerlikon (Italy)
Eaton (Ireland)

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Market Report Scope -

All-Wheel Drive Market CAGR for four-wheel drive vehicles is driven by the increased cases of various road accidents have led to a greater demand for four-wheel drive vehicles systems to ensure safety- as the number of road accidents has increased lately, and there are a lot of fatalities associated with the road accidents and a large number of people so far with injuries the demand for the Four-Wheel Drive Vehicles system is expected to grow well in the coming years, especially for the extreme.

Market Growth Factors -

All-Wheel Drive Market Over the last few decades, advances in technology and the emergence of several innovative concepts have led to the rapid development of the automotive sector. The ongoing developments in the automotive industry around the world have also been influenced by environmental legislation and changing consumer preferences at a rapid pace. Under this scenario, to gain a significant share of the existing market, car manufacturers are becoming more and more focused on introducing advanced all-wheel drive systems. There is also a growing demand for electric vehicles, which is expected to drive market growth in the coming years, and there is also a strong demand for sports vehicles of the high end, which is also expected to drive market growth in the coming years. The safety features offered by vehicles will contribute to the development of the market over the coming years in regions with very low temperatures or extreme winter conditions. It has had a major impact on this market.

Segmentation Analysis -

On the basis of type, on the basis of type All wheel drive automatic type accounted for 35% of the market in 2022. High traction, stability, torque, steering and weight distribution are provided by all-wheel drive systems in either manual or automated mode. When a high powertrain is needed, sensors on the drivetrain in automatic All wheel Drive rapidly engage the rear shaft. However, it does include an additional multiplate clutch which allows you to switch from 2WD to AWD.

By System Type:

Manual AWD
Automatic AWD

By Propulsion:

ICE Vehicle
Electric

By Vehicle Type:

Passenger cars
Commercial vehicles

Key Regional Development -

Four major regions of North America, Europe, Asia Pacific, and Rest of the World have been divided into the global market. As a result of this, the European and North American regions have a high adoption rate of all wheel drive and are the largest markets in the world. The profitability of these regions is also expected to increase over the forecast period. The growth of the market has been driven by increased use of AWD vehicles in these regions. Growth is expected to take place in the Asia Pacific region over the forecast period. The growth of the market for all wheel drive systems in this region is anticipated to be driven by an increase in production and passenger car sales. The demand for the all-wheel drive system from this region is likely to increase as a result of better comfort, traction and control offered by an all-wheel drive system over extreme terrain.

Key Takeaway's-

In order to improve vehicle control and traction, all-wheel drive systems are transmitting power from the wheels of the vehicle. The growth of the market for all wheel drive systems will be stimulated by increasing adoption of AWD equipped sports utility vehicles with enhanced driving dynamics, e.g. traction and control over harsh terrains. The growth of the market will be driven by an increase in production of AWD passenger vehicles over the forecast period.

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Recent Developments -

BorgWarner Inc. signed a supply agreement with Hyundai in March 2022. In accordance with the contract, BorgWarner Inc. will deliver an Integrated Drive Module for Hyundai's upcoming Asegment electric vehicle production. American Axle & Manufacturing Inc., a wholly owned subsidiary of REE Automotive Ltd., disclosed in

November 2021 the manufacture and assembly of 3in1 Electric Drive Systems on behalf of REE Automotive Ltd. American Axle & Manufacturing Inc.'s Advanced Technology and Development Center will be developing the electronic propulsion units.

Table of Contents

1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis
4.1 Impact of Ukraine- Russia war
4.2 Impact of Economic Slowdown

5. Value Chain Analysis

6. Porter's 5 forces model

7. PEST Analysis

8. Global All-Wheel Drive Market Segmentation, By System Type
8.1 Manual AWD
8.2 Automatic AWD

9. Global All-Wheel Drive Market Segmentation, By Propulsion
9.1 ICE Vehicle
9.2 Electric

10. Global All-Wheel Drive Market Segmentation, By Vehicle Type
10.1 Passenger cars
10.2 Commercial vehicles

11. Regional Analysis

Read More…!

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