Technavio, a tech-focused market research firm, has published a new report on the global automotive differential market, which is expected to grow at a CAGR of close to 6% during the forecast period 2016-2020.
Based on geographical segmentation, Technavio market researchers categorize the global automotive differential market into the following key regions: APAC, Europe, and the US.
Automotive differential market in APAC: In APAC, countries such as China, Japan, and India have a high growth rate for AWD due to the increase in demand and sales of SUVs, crossovers, and sedans. For 2WD, the penetration rate is declining in APAC due to the rise in demand for AWD in the region.
According to Abhay Sinha, a senior analyst at Technavio, specializing in research on powertrain, “In APAC, China is the biggest automotive market. The country is estimated to have the largest market growth for on-demand couplings, which will help in converting front-wheel drive vehicles to AWDs.”
Automotive differential market in the US: In the US, the sales of new cars have augmented in the past two years. The increase in the sales is due to low gasoline prices, low-interest rates for auto loans, and growing popularity of SUVs and pickup trucks. The sales of new cars are expected to increase in the coming years due to the growing demand for higher margin pickup trucks and SUVs in the US.
Automotive differential market in Europe: Europe is witnessing a high demand for cars and the number of sales in cars has multiplied profoundly. The main reason behind this is that people in Europe prefer to buy and pay for sophisticated AWD systems and are willing to pay the extra price for AWD driving system.
The top vendors operating in the global automotive differential market are:
Other prominent vendors in the market include JTEKT, Linamar, Neapco, and Dana.
A more detailed analysis is available in the Technavio report titled, ‘Global Automotive Differential Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Automotive Powertrain Sensors Market 2017-2021
- Global Automotive Hydro Mechanical Variable Transmission Systems Market 2016-2020
- Global Electric Vehicle Transmission Market 2016-2020