Automotive Differential Market Global Production, Growth, Share, Demand and Applications Forecast to 2028

September 06 12:58 2021
Automotive Differential Market Global Production, Growth, Share, Demand and Applications Forecast to 2028
Global Automotive Differential Market is expected to reach US $ 31.50 BN By Forecast year 2028
Automotive Differential Market size is expected to grow from US $ 18.75 BN in 2020 to US $ 31.50 BN by 2028, at a CAGR of 6.7%.

The market report “Automotive Differential Market by Drive Types (Front Wheel Drive (FWD), Rear Wheel Drive (RWD) and All Wheel/Four-Wheel Drive (AWD/4WD)), Differential Types (Anti Slip Differential, Double Worm Differential, Electronic Limited Slip Differential (ELSD), Limited Slip Differential (LSD), Locking Differential, Open Differential, Torque Vectoring Differential and Torsen Differential), Components (Differential Bearing, Differential Case, Differential Gear and Differential Pin), Propulsion Types (Internal Combustion Engine (ICE), Hybrid Vehicle and Electric Vehicle), Vehicle Types (Passenger Car (PC), Commercial Vehicle, Electric Vehicle, Truck, Bus and Off Highway Vehicle) and Region – Forecast to 2028”. The automotive differential market is growing at a CAGR of 6.7% by 2028, owing to the demand for commercial & heavy-duty vehicles.

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Based on vehicle type, the passenger car (PC) segment is estimated to have largest market share during the study period.On the basis of vehicle type, the market is categorised into passenger car (PC), commercial vehicle, electric vehicle, truck, bus and off highway vehicle. Passenger car (PC) is estimated to have largest contribution to the market value during the study period due to the improved standard of living and rising per capita income of consumers. The rise in number of key players is also one of the factors contributing to the growth of the segment.

Based on drive type, the all wheel/four-wheel drive (AWD/4WD) segment is anticipated to grow faster during the forecast period.On the basis of drive type, the market is segmented into front wheel drive (FWD), rear wheel drive (RWD) and all wheel/four-wheel drive (AWD/4WD). All wheel/four-wheel drive (AWD/4WD) segment is projected to grow faster during the forecast period due to improved driving dynamics, rising adoption of vehicle safety systems and growing demand for SUVs.

By geography, North America is expected to dominate the marketOn the basis of geography, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America region is experiencing a dominant position in the market as the region holds a large market share. This is mainly due to the presence of large key manufacturers and rapid technological advancements in the region.

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The key players in this market are GKN plc, Eaton, Auburn Gear, LLC, AAM, Auburn Gear, Powertrax, The Schaeffler Technologies AG & Co. KG, Jiangsu Pacific Precision Forging Co., Ltd. (PPF), JTEKT Corporation, Neapco and Dana Limited.

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