The global Automotive differential system market is predicted to grow at a 5% CAGR between 2022- 2030 states the recent Market Research Future (MRFR) analysis. The automotive differential system has been specially designed for driving a pair of wheels and allowing the same to route at various speeds. Limited-slip differential (LSD), torque vectoring differential, locking differential, limited electronic slip differential (ELSD), and open differential are the different types of automotive differential system.
The market share for automotive differential systems is being driven by a number of reasons. According to the most recent MRFR study, these variables include a rise in the demand for heavy and light commercial vehicles, higher traction on the road, increased investment in developing better infrastructure, rising disposable income, and a desire for luxury vehicles. Rising vehicle production, a thriving automotive industry, the use of cutting-edge technology, and innovative design are further drivers boosting market expansion.
Eminent players profiled in the global market report include Powertrax (US), Neapco (US), DREXLER AUTOMOTIVE (Germany), Dana Limited (US), JTEKT Corporation (Japan), GKN Plc (UK), Schaeffler AG (Germany), BorgWarnerInc. (US), Eaton (Ireland), ZF Friedrichshafen AG (Germany), and others. Industry players have incorporated different strategies to create a niche in the market and also cater to consumers growing needs such as acquisitions and mergers, partnerships, joint ventures and collaborations, extensive R&D, strategic alliances, geographic locations, and many others.
The MRFR report provides an inclusive segmental analysis of the global automotive differential system market based on propulsion, vehicle, component, type, and drive.
By drive, the global automotive differential system market is segmented into 4WD and 2WD. Of these, the 4WD segment will lead the market over the forecast period.
By type, the global automotive differential system market is segmented into limited-slip differential (LSD), torque vectoring differential, locking differential, limited electronic slip differential (ELSD), and open differential.
By component, the global automotive differential system market is segmented into differential bearing, differential gear, and differential case.
By vehicle, the global market is segmented into off-highway vehicles, truck, bus, passenger Automotive, and commercial vehicle. Among these, the passenger Automotive segment will dominate the market over the forecast period.
By propulsion, the global market is segmented into hybrid vehicles and ICE.
Based on the region, the global market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Of these, the APAC region is predicted to have lions share over the forecast period. Growing awareness, growing urbanization, booming aftermarket industry, and increased production & sales of automobiles are adding to the global automotive differential system market growth. India, South Korea, and China have the largest share in the market.
The global market in Europe is predicted to hold the second-largest share over the forecast period for the growing demand for passenger Automotives.
The global market in North America is predicted to have healthy growth over the forecast period. Burgeoning demand for passenger Automotives is adding to the global market growth in the region.
The global market in the RoW is predicted to have steady growth over the forecast period. The growing adoption of advanced technology related to four-wheel drive in Saudi Arabia, Qatar, and the UAE, is adding to the global market growth over the forecast period.
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