October 25, 2021 10:30 US Eastern Time | Source: United Market Research United Market Research
Portland, Oregon, October 25, 2021 (GLOBE NEWSWIRE) - According to a report released by Allied Market Research, the global automotive differential market created USD 20.53 billion in 2020 and is expected to reach USD 32.29 billion by 2030 USD, with a compound annual growth rate of 4.7% from 2021 to 2030. The report analyzes in detail the changing market dynamics, top investment areas, regional patterns, key market segments, value chains and competitive scenarios.
The increase in the penetration rate of four-wheel drive and four-wheel drive vehicles, the demand for commercial vehicles, and the surge in demand for lightweight and high-performance auto parts have promoted the growth of the global automotive differential market. However, the increase in in-wheel motor vehicle production and the decline in vehicle production and sales have hindered market growth. On the other hand, the development of electronic limited slip differentials and the growth of demand in developing countries will bring new opportunities for the next few years.
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Covid-19 Automotive Differentiation Market Scenarios:
The report provides a detailed breakdown of the global automotive differential market based on drive type, vehicle type, type and region.
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In terms of drive types, the front-wheel drive segment has the highest market share in 2020, accounting for nearly half of the total share, and is expected to maintain its leading position during the forecast period. However, the all-wheel drive segment is expected to achieve the highest compound annual growth rate of 5.3% between 2021 and 2030.
From the perspective of vehicle models, the internal combustion engine passenger car segment contributed the highest share in 2020, accounting for more than two-thirds of the global automotive differential market, and is expected to maintain its revenue leadership during the forecast period. However, the electric vehicle segment is expected to have the highest compound annual growth rate between 2021 and 2030, at 9.5%.
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From a regional perspective, the Asia-Pacific region has the largest share in 2020, accounting for more than two-fifths of the total share, and it is expected to maintain its dominant share by 2030. In addition, the region is expected to show the fastest compound annual growth rate of 5.4% during the forecast period.
The major players in the global automotive differential market analyzed in the study include BorgWarner, American Axle Manufacturing (AAM), Eaton, Dana, JTEKT, Hyundai Wia, and Melrose Industries PLC, Linamar, ZF, and Schaeffler Group.
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