Automotive Differential Market Trends, Analysis & Forecast, 2032

As per a recent research report, Automotive Differential Market surpass USD 30 Bn by 2032.

As per the report, the rapidly expanding automotive sector globally is working in favor of industry growth. A commendable surge in vehicles on the road has increased the demand for improved traction and stability. Automotive differentials, such as limited-slip differentials or locking differentials, enhance traction by distributing power to the wheels with the most grip. This is especially important in off-road vehicles, performance vehicles, and those used in challenging driving conditions. Moreover, the rapid expansion of the off-road vehicle industry will further propel industry growth.

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Based on the differential, open differential market share will grow at over 3% CAGR from 2023 to 2032. Owing to the cost-effectiveness of open differentials, they have gained widespread traction. Additionally, they offer better maneuverability in low-traction situations, such as on slippery or uneven surfaces. When one wheel loses traction, the differential allows power to be transferred to the wheel with better traction, enabling the vehicle to continue moving forward, which can be advantageous in off-road driving. 

Based on the drive, automotive differential market size from the front-wheel drive (FWD) segment was more than USD 5 billion in 2022. Superior maneuverability of front-wheel drive vehicles has increased their adoption. Owing to the lightweight and compact nature of automotive differentials, they help in the efficient use of space and minimize the overall weight of the front-wheel drive vehicle. Moreover, the use of an automotive differential in a front-wheel-drive configuration helps optimize power delivery and reduce energy losses, resulting in better fuel economy.

In terms of propulsion, automotive differential market value from the internal combustion engine (ICE) segment will reach over USD 20 billion by 2032. Internal combustion engines are relatively cost-effective compared to electric powertrains and other counterparts adding to their popularity over the years. Automotive differentials offer opportunities for customization and performance upgrades in internal combustion engine vehicles. Moreover, they have gained popularity in internal combustion engine vehicles due to their significant contributions to traction, handling, performance, off-road capability, and towing capacity.

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North America automotive differential market will be worth over USD 8.5 billion by 2032. Growing investments by the government for the expansion of electric vehicle infrastructure will shape the regional landscape. In April 2023, the U.S. government announced new public and private sector investments in affordable electric vehicles. Moreover, the region is also home to prominent automotive differential manufacturers such as Dana Incorporated and others constantly investing in product innovations. 

Partial chapters of report table of contents (TOC):

Chapter 2   Executive Summary

2.1    Automotive differential market 360º synopsis, 2018 - 2032

2.2    Business trends

2.2.1    Total Addressable Market (TAM), 2023-2032

2.3    Regional trends

2.4    Differential type trends

2.5    Vehicle Type trends

2.6    Drive Type trends

2.7    Propulsion trends

Chapter 3   Automotive Differential Market Industry Insights

3.1    Impact on COVID-19

3.2    Russia- Ukraine war impact

3.3    Industry ecosystem analysis

3.4    Vendor matrix

3.5    Profit margin analysis

3.6    Technology & innovation landscape

3.7    Patent analysis

3.8    Key news and initiatives

3.8.1    Partnership/collaboration

3.8.2    Merger/Acquisition

3.8.3    Investment

3.8.4    Product launch and innovation

3.9    Regulatory landscape

3.10    Impact forces

3.10.1    Growth drivers

3.10.1.1    Rise in demand for commercial and heavy-duty vehicles

3.10.1.2    Increasing penetration of all- wheel drive (AWD) and four-wheel drive (4WD) vehicles

3.10.1.3    Growing investment in infrastructure to boost demand for construction and mining equipment.

3.10.1.4    Rising preferences for luxury vehicles and SUVs

3.10.2    Industry pitfalls & challenges

3.10.2.1    Increasing production of vehicles with in-wheel electric motors

3.10.2.2    Complex technology integration

3.11    Growth potential analysis

3.12    Porter’s analysis

3.13    PESTEL analysis

 

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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