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Automotive Differential Market Size, Exploring Applications and Market Potential, Future Outlook 2030

05-23-2024 12:52 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Automotive Differential Market

Automotive Differential Market

Surge in demand for commercial vehicles and significant rise in automobile manufacturing drive the global ๐€๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ž ๐ƒ๐ข๐Ÿ๐Ÿ๐ž๐ซ๐ž๐ง๐ญ๐ข๐š๐ฅ ๐Œ๐š๐ซ๐ค๐ž๐ญ. However, increase in manufacturing of vehicles with in-wheel electric motors restrain the market growth. On the other hand, manufacturing of electronic limited slip differentials offers new opportunities in coming years.

๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐๐š๐ ๐ž๐ฌ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/request-sample/6123

The global automotive differential market was valued at $20,530.1 million in 2020, and is projected to reach $32,293.6 million by 2030, registering a CAGR of 4.7%. Asia-Pacific was the highest revenue contributor, accounting for $8,583.6 million in 2020, and is estimated to reach $14,435.2 million by 2030, with a CAGR of 5.4%.

๐“๐ก๐ž ๐ค๐ž๐ฒ ๐ฉ๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ ๐ฉ๐ซ๐จ๐Ÿ๐ข๐ฅ๐ž๐ ๐ข๐ง ๐ญ๐ก๐ข๐ฌ ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐ข๐ง๐œ๐ฅ๐ฎ๐๐ž

DANA INCORPORATED, HYUNDAI WIA CORPORATION, BORGWARNER INC., LINAMAR CORPORATION, SCHAEFFLER GROUP, AMERICAN AXLE & MANUFACTURING, INC., EATON, ZF FRIEDRICHSHAFEN AG, JTEKT CORPORATION, MELROSE INDUSTRIES PLC

The automotive differential is a part of the front and/or rear axle assembly that has an important function in a vehicle by allowing the movement of wheels at various speeds. It is a component of an automotive driveline, that distributes torque and power to the wheels in executing driving operations. The primary function of this system is to deliver proportional RPMs between two connected wheels. Moreover, the sale of differential assemblies is strongly influenced by automotive production activities across the globe. These procurements are completed through contracts and agreements between original equipment manufacturers and differential assemblies' manufacturers.

๐๐ฎ๐ฒ ๐๐จ๐ฐ ๐ญ๐ก๐ž ๐„๐ฑ๐œ๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ: https://www.alliedmarketresearch.com/checkout-final/5a37876efa620760471e399eb5fb1765

The factors, such as increase in penetration of AWD and 4WD vehicles, and rise in demand for commercial vehicles, and lightweight & high-performance automotive components drive the growth of the global automotive differential market. However, increase in production of vehicles with in-wheel electric motors as well as decrease in production and sales of automotive are expected to restrain market growth t during the forecast period. Moreover, development of electronically limited- slip differentials, increase in demand from developing countries, and contract/agreement winning are the key strategies adopted by the key players to gain a competitive advantage while production of electronically limited-slip differentials is expected to supplement the global automotive differential market growth. These factors, however are expected to provide a better opportunity for the market growth t soon.

๐‘๐ž๐ ๐ข๐จ๐ง๐š๐ฅ ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ:

Based on region, Asia-Pacific accounted for the highest share on the basis of revenue, contributing to more than two-fifths of the global automotive differential market in 2018, and is expected to continue its highest share during the forecast period. Moreover, this region is projected to register the fastest CAGR of 6.4% from 2019 to 2026. It is a lucrative segment, owing to surge in demand for commercial vehicles and the growth of the automotive industry. However, North America held nearly one-fifth of the total market share in 2018 and is estimated to grow at moderate pace.

๐†๐ž๐ญ ๐‚๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐ž๐ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ฐ๐ข๐ญ๐ก ๐ฒ๐จ๐ฎ'๐ซ๐ž ๐‘๐ž๐ช๐ฎ๐ข๐ซ๐ž๐ฆ๐ž๐ง๐ญ๐ฌ: https://www.alliedmarketresearch.com/request-for-customization/6123

Based on drive type, the front-wheel drive (FWD) segment contributed to more than half of the total share of the global automotive differential market in 2018, and is estimated to maintain its lead position throughout the forecast period. This is due to its attribute to reduce weight, production costs, and fuel consumption. However, the all-wheel drive (AWD) segment is expected to witness the highest CAGR of 6.1% from 2019 to 2026, owing to increase in power and better control than other wheel drive systems along with improved handling proficiencies on different surfaces.

๐Š๐„๐˜ ๐…๐ˆ๐๐ƒ๐ˆ๐๐†๐’ ๐Ž๐… ๐“๐‡๐„ ๐’๐“๐”๐ƒ๐˜

By drive type, the all-wheel-drive (AWD) segment is expected to register significant growth during the forecast period.

On the basis of vehicle type, the IC engine passenger car segment is projected to lead the global market in terms of market share by the end of the forecast period.

Depending on type, the electronic limited slip differential segment is expected to register significant CAGR during the forecast period.

Asia-Pacific dominated the market in 2020, and is projected to lead the market growth and maintain its dominance in the global market.

๐‚๐ก๐ž๐œ๐ค ๐จ๐ฎ๐ญ ๐ฆ๐จ๐ซ๐ž ๐ซ๐ž๐ฅ๐š๐ญ๐ž๐ ๐ฌ๐ญ๐ฎ๐๐ข๐ž๐ฌ ๐ฉ๐ฎ๐›๐ฅ๐ข๐ฌ๐ก๐ž๐ ๐›๐ฒ ๐€๐Œ๐‘ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก:

Automotive Brake System Market - https://www.alliedmarketresearch.com/automotive-brake-system-market-A06012

Automotive Filter Market - https://www.alliedmarketresearch.com/automotive-filter-market

Automotive Motors Market - https://www.alliedmarketresearch.com/automotive-motors-market

Automotive Diagnostics Market - https://www.alliedmarketresearch.com/automotive-diagnostics-market-A13069

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ:

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๐€๐›๐จ๐ฎ๐ญ ๐”๐ฌ

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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