Owing to cover a large area with a smooth turning at a varied speed, the wheels take help of automotive differential. Besides, an automotive differential also decreases output speed and increases engine power. In an on-going study by Future Market Insights (FMI), global market for automotive differential is expected to witness a stable development through 2017-2027.
Global Automotive Differential Market: Dynamics
As per the FMI analysis, factors such as luxurious rides and sufficient space for keeping luggage are influencing to grow demand for SUVs and crossovers throughout the U.S and Europe. In addition, the global market for automotive differential is driven by the growth of car purchasing at a high rate as interest rate for auto loan is dropped in the U.S. Over the forecast period, the global market for automotive differential is expected to expand widely due to automotive differential’s quiet & smooth operation, plain design sans friction modifiers for slip differentials. On the contrary, receiving response with detention due to electronic control unit (ECU) differentials’ stringent sensitivity and extra time consumption by the sensors are affecting the growth of global automotive differential market through 2027.
The report is analyzing that mid-segment cars are manufacturing with limited-slip differential system. Additionally, the automotive producers are concentrating on compact electronic components, instead of mechanical components, which is becoming the recent trend in global automotive differential market. With the application of compact electronic components, the maintenance cost is dropping, which is driving the growth of this market at a stable CAGR.
As per the FMI, three distinctive segmentations are visible in the global market for automotive differential, including product type, motive mechanism and vehicle type. The global automotive differential market is segmented into electronically controlled limited-slip differential, open differential, torque vectoring differential, locking differential and limited-slip differential. Depending upon vehicle type, light commercial vehicles, heavy commercial vehicles and passenger cars are the segmentations that falls into global automotive differential market. Four-wheel drive (4WD) and two-wheel drive (2WD) are the segmentations of global automotive differential market based on motive mechanism.
Regional Insights and Key Players
Through 2027, the global market for automotive differential market is segmented among Asia Pacific, Western Europe, North America, Latin America, Eastern Europe and Middle East & Africa. On the basis of high revenue share and maximum demand for four-wheel, Asia-Pacific including South Korea, China and India, is expected to dominant the global market for automotive differential. Depending upon passenger cars, Western Europe is anticipated to leap behind North America with a significant growth. A sluggish growth is expected in both Eastern Europe and Latin America regions due to the demand of two-wheelers is popular there. Owing to the approval of improved technology of four wheelers, automotive differential market in Middle East and Africa including Qatar, UAE and Saudi Arabia countries is anticipating a stable growth. Some of the key participants in global automotive differential market includes Auburn Gear, JTEKT Corporation, Dana Limited, Auburn Gear, LLC, GKN plc, Eaton, The Schaeffler Technologies AG & Co. KG, AAM, Powertrax, Jiangsu Pacific Precision Forging Co., Ltd. (PPF) and Neapco, among others are anticipated to dominate during the forecast period.
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