Global Demand for Automotive Differential Market to Incur Considerable Upsurge During Automotive Differential Market
Automotive Differential Market: Dynamics
Strong demand for crossovers and SUVs across the U.S. and Europe owing to comfortable rides and extra boot space is the key factor for the growth of global automotive differential market. Furthermore, decline in auto loan interest rates leading to increasing car sales across the U.S. is another driving factor for global automotive differential market over the forecast period. Moreover, simple design, quiet and smooth operation and no requirement of friction modifiers by limited slip differentials are expected to drive the market of automotive differential over the next decade.
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Limited sensitivity of electronic control unit (ECU) differentials through delay in response time actuators and time caused by sensors are the factors hindering the growth of global automotive differential market over the forecast period.
Adoption of electronically controlled limited-slip differential system in mid-segment cars and increased focus of automotive manufacturers to replace mechanical components/parts with compact electronic components are gaining traction in the market. This is due to its full traction benefit, driving benefits, handling benefits during sudden yaw dampening and demand for electronic parts in place of mechanical parts due to minimized wear and tear resulting in cutting down the maintenance costs.
Automotive Differential Market: Segmentation
Global automotive differential market is segmented on the basis of product type, vehicle type and motive mechanism. On the basis of product type, global automotive differential market can be segmented as open differential, locking differential, limited-slip differential, electronically controlled limited-slip differential and torque vectoring differential. On the basis of vehicle type, global automotive differential market can be segmented as passenger cars, light commercial vehicles and heavy commercial vehicles. On the basis of motive mechanism, global automotive differential market can be segmented as two-wheel drive (2WD) and four-wheel drive (4WD).
Automotive Differential Market: Market Participants
Some of the examples of market participants of global automotive differential market are:
Auburn Gear, LLC
The Schaeffler Technologies AG & Co. KG
Jiangsu Pacific Precision Forging Co., Ltd. (PPF)
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Automotive Differential Market: Region-wise Outlook
Asia Pacific is expected to be the dominant market in terms of revenue and volume as the demand for four-wheel drive is expected to gain popularity over the next decade in countries such as India, China and South Korea. Western Europe, followed by North America is expected to gain traction owing to increasing demand for passenger cars and show significant growth over the forecast period. Latin America and Eastern Europe automotive differential markets are expected to show slow growth as in these regions the two-wheel drive is popular, and is expected to decline. Middle East and Africa automotive differential market is expected to show steady growth since the adoption of advanced technology related to four-wheel drive in countries such as UAE, Qatar, and Saudi Arabia is relatively high.
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