Advancing Technology Offering Impetus to Automotive Differential System Market

02/mar/2020 11:50:07 Automotive Market Research Reports Contatta l'autore

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As per a detailed analysis by Market Research Future (MRFR), the global automotive differential system market is likely to garner a CAGR of 5% during the forecast period (2018-2023). The surging demand for heavy duty & commercial vehicles is anticipated to drive the market across the globe. The automotive differential system is considered a vital component of an automobile which is generally used to transfer the required amount of torque to the wheels at different interval of time as per the specific requirements. The system comprises either of pinion gears, spider gears, or ring gears, and are arranged in the form of planetary gears and sun. The arrangement is required to offer the specified speed to wheels at the time of turning. It helps the wheels to rotate at different rpm which the help of speed reduction at pinion gear assembly.

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Market Potential and Pitfalls

The automotive differential system market is evolving at breakneck speed due to the surging demand for heavy duty and commercial vehicles. The increased investments on infrastructure have resulted in the growth of the construction equipment sales, thereby triggering the demand for the automotive differential system across the globe. The steady demand for premium cars and SUVs has enabled the market to reach out to a wider range of audiences. It is also considered that the advancing technology in the automotive sector will further create new growth avenues for the global market. It has also been estimated that the electronic slip disc differential is likely to be used in automobiles more frequently, thereby contributing to its growth. The continuous growth in investments associated with the development of technology by the manufacturers facilitating better designs of automotive is anticipated to create growth opportunities across the globe. The simple design, no requirement for friction modifiers, and smooth operation by limited slip differentials are likely to augment the market growth.

On the contrary, the increasing demand for electric vehicles is likely to impede the market growth during the assessment period. The limited sensitivity of electronic control unit differentials with delay in response time actuators coupled with the time caused by the sensors is restricting the market growth in the foreseeable future.

Global Automotive Differential System Market: Segmental Analysis

The global automotive differential system market has been segmented on the basis of type, drive type, vehicle type, component, and propulsion.

By mode of drive type, the automotive differential system market comprises 2WD and 4WD. Among these, the 4WD segment is likely to gain prominence and is mainly driven by the surging demand for SUVs. The augmenting demand for stability improved vehicle safety and enhanced driving dynamics is further driving the segment growth.

By mode of type, the global automotive differential system market has been segmented into the open differential, electronic limited slip differential (ELSD), locking differential, torque vectoring differential, and limited slip differential (LSD). Among these, the electronic limited slip differential (ELSD) segment is estimated to showcase a significant growth due to its improved efficiency compared to mechanical differentials. The segment also helps to improve the overall fuel efficiency, thereby fulfilling strict emission norms. This is likely to contribute to the segment’s growth.

The component segment constitutes of differential case, differential gear, and differential bearing.

The vehicle type comprises a commercial vehicle, passenger car, bus, truck, and off-highway vehicles.

Based on propulsion, the market comprises the ICE and hybrid vehicles.

Regional Frontiers

Geographically, the automotive differential system market has been studied under regions namely, Europe, North America, Asia Pacific, and the Rest-of-the-World (RoW).

Considering the global scenario, the Asia Pacific region is likely to generate the highest revenue in the global market due to surging awareness associated with safety, rising aftermarket industry, and steady urbanization. The rising sales and production of automobiles are likely to boost the regional market in the foreseeable future. The market is likely to gain popularity from countries like China, India, and South Korea, which is further likely to boost its demand in the long run.

The European region is likely to occupy the second spot in the global market and is anticipated to gain traction. The growth can be ascribed to the surging demand for passenger cars in this region. The riding sales of electric vehicles is further boosting the growth of the regional market.

Industry Updates

May 13, 2019: Vauxhall is set to continue its journey towards electrification with the launch of the all-new Grandland X all-wheel drive (AWD) plug-in hybrid electric vehicle (PHEV). The vehicle is Vauxhall’s first-ever plug-in hybrid and comprises state-of-the-art plug-in hybrid technology.

Competitive Dashboard

The prominent players operating in the automotive differential system market comprises Eaton (Ireland), ZF Friedrichshafen AG (Germany), Schaeffler AG (Germany), BorgWarnerInc. (US), JTEKT Corporation (Japan), GKN plc (UK), DREXLER AUTOMOTIVE (Germany), Dana Limited (US), Powertrax (US), and neapco (US).

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