Transparency Market Research in its new report titled, “4 Wheel Drive Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the 4 wheel drive market. The TMR report states that growing construction industries, and increase in urbanization in all over the world will increase the demand for commercial heavy vehicles like mining trucks, earthmoving equipment, tractors, heavy load trucks, SUVs and vehicles with high force driving experience will boost the automotive 4 wheel drive market during the forecast period i.e, 2018-2026. Due to high cost of 4 drive system OEM fitted this system only in high end vehicle. Furthermore the increase in penetration of sales in low end passenger vehicle, hybrid vehicle and increase in concerned about passenger safety and stringent government norms in automotive industry will expected to increase the demand for 4 wheel drive market in the near future, says the report.
The TMR report has segregated the global automotive 4 wheel drive market based on technology, vehicle, electric vehicle, and region. On the basis of technology, the automotive 4 wheel drive market is classified into automatic 4 wheel drive, and one more segment. The automatic 4 wheel drive segment is anticipated to increase in the forecasting period. Automobile manufacturers and automotive R&D center are participating in automatic 4 wheel drive segment in order to take advantages over the compotators in the automotive 4 wheel drive market. In terms of vehicle, the automotive 4 wheel drive market is divided into passenger vehicle, and one more segment. The passenger vehicle segment is estimated to expand significantly during the forecast period due to increase in per capita income of the people and rise in willingness to pay for vehicle safety and high end application.
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In terms of electric vehicle, the automotive 4 wheel drive market is segregated into battery vehicle, hybrid electric vehicle, and plug-in hybrid electric vehicle. According to the report, the rise in pollution owing to vehicle combustion system, people are diverted toward the green energy vehicle. Which will increase the production of electric vehicle in the global market. Furthermore driving factor for the growth of electric vehicles is the initiation taken by the different governmental agencies to boost the sale of these vehicle. The hybrid electric vehicle segment is projected to hold a prominent share of the automotive 4 wheel drive market during the forecast period. On the basis of geographical standpoint, the global automotive 4 wheel drive market is split into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Among these, Europe accounts for a significant market share of the 4 wheel drive market, followed by North America and Asia Pacific. The market in Asia Pacific is likely to expand at a significant growth rate during the forecast period. Demand for high end passenger vehicle, SUVs, and premium vehicle is expected to be high in countries such as China, India and Japan will boost the demand for 4 wheel drive market in the forecasting period.
Some of the major players operating in the global 4 wheel drive market are profiled in this report and these include ZF Friedrichshafen AG, Magna International Inc., BorgWarner Inc., Continental AG, JTEKT Corporation, BorgWarner Inc., and Haldex.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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