Selbyville, Delaware, June 07, 2023 (GLOBE NEWSWIRE) --
The automotive differential market valuation is projected to cross USD 30 billion by 2032, according to the latest research report by Global Market Insights Inc.
The rapidly expanding automotive sector globally is working in favor of industry growth. A commendable surge in vehicles on the road has increased the demand for improved traction and stability. Automotive differentials, such as limited-slip differentials or locking differentials, enhance traction by distributing power to the wheels with the most grip. This is especially important in off-road vehicles, performance vehicles, and those used in challenging driving conditions. Moreover, the rapid expansion of the off-road vehicle industry will further propel market development.
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The automotive differential market from the open differential segment will grow at 3% CAGR from 2023 to 2032, owing to the cost-effectiveness of open differentials, they have gained widespread traction. Additionally, they offer better maneuverability in low-traction situations, such as on slippery or uneven surfaces. When one wheel loses traction, the differential allows power to be transferred to the wheel with better traction, enabling the vehicle to continue moving forward, which can be advantageous in off-road driving.
The automotive differential industry from the front-wheel drive (FWD) segment valued at USD 5 billion in 2022. Superior maneuverability of front-wheel drive vehicles has increased their espousal. Due to the lightweight and compact nature of automotive differentials, they help in the efficient use of space and minimize the overall weight of the front-wheel drive vehicle. Moreover, the use of an automotive differential in a front-wheel-drive configuration helps optimize power delivery and reduce energy losses, resulting in better fuel economy.
The automotive differential market from the internal combustion engine (ICE) segment will reach over USD 20 billion by 2032. Internal combustion engines are relatively cost-effective compared to electric powertrains and other counterparts adding to their popularity over the years. Automotive differentials offer opportunities for customization and performance upgrades in internal combustion engine vehicles. However, they have gained popularity in ICE vehicles due to their significant contributions to traction, handling, performance, off-road capability, and towing capacity.
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North America automotive differential market is estimated to amass USD 8.5 billion by 2032. Growing investments by the government for the expansion of electric vehicle infrastructure will shape the regional landscape. In April 2023, the U.S. government announced new public and private sector investments in affordable electric vehicles. Additionally, the region is also home to prominent automotive differential manufacturers such as Dana Incorporated and others constantly investing in product innovations.
Prominent participants operating across the automotive differential market include ZF Friedrichshafen AG, Dana Incorporated, Borgwarner Inc, AVL List GmbH, Timken Company, Eaton Corporation, and Magna International Inc.
Automotive Differential Industry News:
- In August 2021, Eaton’s Vehicle Group announced the release of a new range of differentials for electrified vehicles.
Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Automotive differential market 360º synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023-2032
2.3 Regional trends
2.4 Differential type trends
2.5 Vehicle Type trends
2.6 Drive Type trends
2.7 Propulsion trends
Chapter 3 Automotive Differential Market Insights
3.1 Impact on COVID-19
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.8.1 Partnership/collaboration
3.8.2 Merger/Acquisition
3.8.3 Investment
3.8.4 Product launch and innovation
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Rise in demand for commercial and heavy-duty vehicles
3.10.1.2 Increasing penetration of all- wheel drive (AWD) and four-wheel drive (4WD) vehicles
3.10.1.3 Growing investment in infrastructure to boost demand for construction and mining equipment.
3.10.1.4 Rising preferences for luxury vehicles and SUVs
3.10.2 Industry pitfalls & challenges
3.10.2.1 Increasing production of vehicles with in-wheel electric motors
3.10.2.2 Complex technology integration
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
