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Global Automotive Differential Market Overview
Global automotive differential market was valued at USD 200,150 million in 2022 and is estimated to reach a value of USD 220,250 million by 2033 with a CAGR of 4.7% during the forecast period. The differential is a system of gears that transmits power from the engine to the axle that moves the wheels and allow the wheels to move at different speeds from each other. When the fluid is compromised or deteriorated, increased heat and friction can cause the gears to not function smoothly.
Report Scope
Report Attributes | Description |
Market Size in 2022 | USD 200,150 Million |
Market Forecast in 2033 | USD 220,250 Million |
CAGR % 2023-2033 | 4.7% |
Base Year | 2022 |
Historic Data | 2019-2021 |
Forecast Period | 2023-2033 |
Report USP | Production, Consumption, company share, company heatmap, company production capacity, growth factors and more |
Segments Covered | Product type, drive type, vehicle type, propulsion type and component type |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | American Axle & Manufacturing Inc., Borgwarner Inc., Continental AG, Dana Limited, Eaton Corporation Inc., GKN Plc (Melrose Industries), JTEKT Corporation (Toyota Motor Corporation), Linamar Corporation, PowerTrax, Schaeffler Group and ZF Friedrichshafen AG |
Global Automotive Differential Market Growth Factors
The growing number of automobiles around the globe is the major factor that is boosting the growth of the market during the forecast period. Owing to the hectic schedule of the members of the family there exist more than one automobile in the houses of a majority of the families around the globe. The rising disposable income of the people is the major factor for the growth of the automobile sector and this factor is boosting the growth of the market during the forecast period. Apart from this, the growing population around the globe is also a factor for the growth of the market during the forecast period. However, the rising prices of the vehicles around the globe is estimated to hamper the growth of the market during the forecast period.
Global Automotive Differential Market Market Trends
The growing number of automobiles around the globe is the major factor that is boosting the growth of the market during the forecast period.
The rising disposable income of the people is the major factor for the growth of the automobile sector and this factor is boosting the growth of the market during the forecast period.
However, the rising prices of the vehicles around the globe is estimated to hamper the growth of the market during the forecast period.
Global Automotive Differential Market Segmentation
The global automotive differential market is segmented based on product type, drive type, vehicle, component and vehicle propulsion type. The demand for automotive differentials in light commercial vehicles (LCVs) is significant and growing. LCVs include a wide range of vehicles, such as pickups, vans, and small trucks, which are commonly used for commercial purposes such as transportation of goods and services.
LCVs typically have higher load-carrying capacity and require more powerful and durable drivetrains than passenger vehicles, making the use of differentials critical for their efficient operation. Differentials allow the wheels to rotate at different speeds while still transferring power from the engine, which is necessary for maneuvering through tight spaces and handling heavy loads.
As the demand for LCVs continues to grow, especially in emerging economies, the demand for automotive differentials in these vehicles is also expected to increase. In addition, the increasing demand for electric and hybrid LCVs is also expected to drive the market, as these vehicles often require unique differential designs and technologies.
Moreover, the rising demand for advanced safety features in LCVs, such as electronic stability control and anti-lock braking systems, is also expected to drive the market for automotive differentials. These safety features rely on differentials to ensure proper vehicle operation and stability during braking and cornering.
Overall, the demand for automotive differentials in LCVs is expected to continue to grow in the coming years, driven by the increasing demand for these vehicles, the ongoing development of new and more advanced differential technologies, and the need for enhanced safety features in the vehicles.
Global Automotive Differential Market Regional Analysis
It is estimated for the region of US to drive the growth of the market during the forecast period. The growing in the technological advancements in the food sector in the region is estimated to foster the growth of the market during the forecast period. The region of Europe is estimated to witness growth at a healthy rate during the forecast period. The Asia Pacific region is also estimated to witness a notable growth rate in the market.
Global Automotive Differential Market Key Market players
American Axle & Manufacturing Inc., Borgwarner Inc., Continental AG, Dana Limited, Eaton Corporation Inc., GKN Plc (Melrose Industries), JTEKT Corporation (Toyota Motor Corporation), Linamar Corporation, PowerTrax, Schaeffler Group and ZF Friedrichshafen AG are the major players that are driving the growth of the market during the forecast period.
Why to buy this Report?
The report provides quantitative and qualitative aspect for the market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in the market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
Business Model
Production Capacity, Revenue, Sales, Gross Margin
Key Business Strategy
SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the end user in taking a key decision within the business:
Company Share Analysis from 2018-2022
Company Analysis by Revenue and Sales
Company Production Capacity, Gross Margin
Company Share Analysis by Application/End Use
Company Share Analysis by Product/Specification
Based on product type, the market is segmented into,
Electronic Limited-Slip Differential (ELSD)
Locking Differential
Limited-Slip Differential (LSD)
Open Differential
Torque Vectoring Differential
Based on drive type, the market is segmented into,
Front Wheel Drive (FWD)
Rear Wheel Drive (RWD)
All Wheel Drive/ Four Wheel Drive (AWD/4WD)
Based on vehicle type, the market is segmented into,
Passenger Car
Light Commercial Vehicle
Heavy Commercial Vehicle
Off-highway Vehicle
Based on component type, the market is segmented into,
Differential Bearing
Differential Gear
Differential Case
Based on vehicle propulsion type, the market is segmented into,
I.C. Engine Vehicle
Electric Vehicle
Hybrid Electric Vehicle
Regions
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Australia
Korea
Rest of Asia pacific
South America
Brazil
Argentina
Colombia
Rest of South America
Middle East & Africa
UAE
Saudi Arabia
Egypt
Oman
Kuwait
South Africa
Rest of MEA