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Automotive Differential Market Size 2021, Share Estimation, Trend Analysis, Industry Growth Rate, Company Profiles with Strategies, Global Sales and Revenues, Future Demands, Production-Scenario and Supply Forecast 2030

The global automotive differential market was estimated at $20,530.1 million in 2020. The global automotive differential market is forecast to reach $32,291 million by 2030, registering a compound annual growth rate (CAGR) of 4.5% during the forecast period from 2021-2030. The automotive differential is a fundamental component of the automotive drivetrain that enables several drive wheels to carry out effective driving operations. The differential is required for every type of driving vehicle. These components are installed in between each pair of drive wheels.

Factors Influencing the Market

The growing adoption of AWD and 4WD vehicles is expected to surge the demand for differentials. The demand for commercial vehicles is increasing day by day. Moreover, to make vehicles more reliable and convenient, lightweight and high-performance automotive components are used. The sales of global commercial vehicles sales rose from 26.9 million units in 2018 to 27 million units in 2019. As a result of growing sales in the coming years, the demand for automotive differentials would ultimately increase.

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Emerging industries such as e-commerce, the food industry, and others would increase the demand for automotive differential components. As the companies would expand their services by offering delivery and transportation solutions, the demand for commercial vehicles would ultimately increase. As a result, the adoption of the automotive differential components would rise in the coming years.

Furthermore, the emergence of global potential heavy vehicle manufacturers such as UD Trucks, Scania, and Volvo Trucks & Buses would contribute significantly to the growth of the global automotive differential market. The key players are focusing on expanding their production capacities in developing countries through joint ventures with local manufacturers. Such plans are forecast to present favorable opportunities for local manufacturers.

The growing era of in-wheel electric motors vehicles is expected to slow down the growth of the global automotive differential market during the analysis period. The advanced Electronically Limited Slip Differentials (ELSD) would boost the growth of the global automotive differential market.

The electronic limited-slip differential improves traction and can be very useful on wet or dry roads, enhancing the handling of high-performance vehicles. Eaton unveiled its next-generation electronic limited-slip differential, which is a traction-management technology that reacts quickly. Such advancements and innovations are forecast to boost market growth in the coming years.

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COVID-19 Impact Analysis

COVID-19 has caused a severe drop in vehicle demand, which has a negative impact on the overall automotive differential market. The global automotive differential market witnessed a sudden decline in revenue generation. However, the market is expected to gain rapid recovery because of the growing vehicle production in various regions. The demand for automotive differential is anticipated to rise with the advancements.

Regional Analysis

The Asia Pacific is forecast to record the highest revenue over the forecast period. China and Japan are two of the region’s key automotive production hubs. As vehicle output rises, demand for automotive differential is likely to climb dramatically. Due to a growing inclination towards all-wheel and four-wheel drive integrated vehicles, off-road vehicles, Asian countries are expected to contribute with favorable results. Moreover, off-road vehicles and sports cars have also grown in popularity in the Asia-pacific region. As a result of the high volume of vehicles produced in the area, the overall demand for automotive differential is growing rapidly.

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Key Market Segments

By Vehicle Type

  • Passenger Car
  • Commercial Vehicle
  • Electric vehicle

By Type

  • Open
  • Locking
  • Limited Slip Differential
  • Electronic limited slip differential
  • Torque Vectoring

By Drive Type

  • Front Wheel Drive (FWD)
  • Rear Wheel Drive (RWD)
  • All-wheel drive (AWD)/Four Wheel Drive (4WD)

By Region

  • North America
  • The U.S.
  • Canada
  • Mexico
  • Europe
  • Western Europe
  • The UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Western Europe
  • Eastern Europe
  • Poland
  • Russia
  • Rest of Eastern Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • Rest of Asia Pacific
  • Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
  • South America
  • Brazil
  • Argentina
  • Rest of South America

Competitors in the Market

  • American Axle & Manufacturing, Inc.
  • Borgwarner Inc.
  • Dana Incorporated
  • Eaton
  • Hyundai Wia Corporation
  • Jtekt Corporation
  • Linamar Corporation
  • Melrose Industries Plc
  • Schaeffler Group
  • Zf Friedrichshafen Ag
  • Other Prominent Players

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Updated : 2022-01-20 02:18 GMT+08:00