Automotive Differential System Market Research Report: Information by Drive Type (2WD,4WD), By Type (Electronic Limited Slip Differential, Open Differential, Torque Vectoring Differential, Locking Differential, Limited Slip Differential), By Component (Differential Gear Differential Case, Differential Bearing), By Vehicle Type (Passenger Vehicle, Commercial Vehicle, Truck, Bus, Off-Highway Vehicle), By Propulsion (ICE & Hybrid Vehicles) and Region – Global Forecast till 2023
Market Overview:
Global automotive differential market has seen a steady growth; expected to rise at a CAGR of ~5%. Increased demand for the heavy duty & commercial vehicles and increases in investments on infrastructure leading to rise in construction equipment sales are the major factors driving the global automotive differential market. Rapidly growing demand for SUVs and premium cars is further expected to drive the global market. It is anticipated that growing technological developments in the automotive sector will further create opportunities for the global automotive differential market.
It is forecasted that the electronic slip disc differential will be more frequently used in automobiles during the forecast period. Also, there is a continuous increase in investments regarding the development of technology by manufacturers, which would facilitate better designing of automotive differentials. However, one of the major restraints of the global automotive differential market is the growing demand for electric vehicles.
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Key Players:
The prominent players in the global automotive differential system market include ZF Friedrichshafen AG (Germany), Eaton (Ireland), BorgWarnerInc. (US), Schaeffler AG (Germany), GKN plc (UK), JTEKT Corporation (Japan), Dana Limited (US), DREXLER AUTOMOTIVE (Germany), neapco (US), and Powertrax (US).
Automotive Differential Market Segmentation:
Global automotive differential market is segmented on the basis of drive type, type, component, vehicle type, propulsion and region.
On the basis of drive type, the market has been segmented into 2WD and 4WD.
On the basis of type, the market has been segmented into electronic limited slip differential (ELSD), open differential, torque vectoring differential, locking differential and limited slip differential (LSD).
On the basis of component, the market has been segmented into differential gear, differential case and differential bearing.
On the basis of vehicle type, the market has been segmented into passenger car, commercial vehicle, truck, bus and off-highway vehicles. On the basis of propulsion the market has been segmented into ICE and Hybrid vehicles.
Regional Analysis:
Geographically, the global automotive differential market has been segmented into the four major regions of North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is estimated to hold the highest revenue market share throughout the forecast period owing to increased awareness regarding safety, growing urbanization, and increasing aftermarket industry, which is expected to increase the market size for automotive differentials in this region. Moreover, increased production and sales of automobiles will further boost the growth for automotive differential system market in Asia-Pacific.
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