Global All Wheel Drive Market Size, Growth, Opportunities Analysis & Forecast to 2027Posted by Karthik Pilla on July 20th, 2022
Bharat Book Bureau Provides the Trending Market Research Report on “All Wheel Drive Market by System (Automatic, Manual), Vehicle Type (Passenger & Commercial Vehicle), EV Type (BEV, PHEV), Component (Power Transfer Unit, Differential, Propeller Shaft, Transfer Case, Final Drive Unit) and Region - Global Forecast to 2027” under Automotive Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports.
The global All Wheel Drive Market size is projected to reach USD 53.8 billion by 2027, from an estimated value of USD 35.9 billion in 2022, at a CAGR of 8.4%. The growth is influenced by factors such as industrialization and growth per capita income in developing countries. Along with these factors, the rising popularity of premium cars and SUVs are driving governments all over the globe to regulate their fuel efficiency and encourage adoption of all wheel drive systems. The expansion of the road network in the Asia Pacific is expected to lead to the demand for personal vehicles and hence is expected to propel the demand for all wheel drive during the forecast period. Since the Asia Pacific has a significant car-ownership growth rate, the demand for the all wheel drive passenger car is expected to grow during the forecast period. “Automatic AWD segment is expected to be the fastest-growing segment throughout the forecast period owing to sophisticated handling and better drive experience, by system” Advantages such as better traction, stability, torque, steering, and even distribution of weight are projected to make the Automatic AWD segment the fastest-growing segment. Developed countries are expected to increase their adoption of Automatic AWD in passenger cars faster as compared to emerging countries because of the regulations and the higher costs associated with adopting Automatic AWD. Also, Automatic AWD systems are best suited for high-end sports cars and the US as well as Europe is the largest market for premium vehicles, hence, the demand for Automatic AWD systems in the region is projected to grow during the forecast period. “BEV segment to hold the largest market share during the forecast period due to growing concern of vehicle safety of EVs” Passenger safety regulations, the need for higher performance, and ease of installation of AWD systems on BEVs are driving demand for AWD systems in BEVs. Moreover, BEVs are already equipped with complex electrical systems which reduce costs incurred on sensors and computers. The use of regenerative braking through all wheel drive systems can also improve the range of the EV. Developments in AWD technologies are further expected to drive the market. “Asia Pacific market is expected to hold the largest market share by 2027” The automobile industry in the Asia-Pacific has witnessed significant year-on-year growth. As the region is the leading automobile producer in the world and with its strong domestic demand it is expected to lead the all wheel drive market. The region has the largest road network and has been experiencing rapid urbanization. Further, the national government has also announced initiatives toward the development of fuel-efficient transportation. Additionally, Asian countries are at the forefront of the adoption of fuel efficient vehicles, which is expected to make the region a leading market for all wheel drive market. In-depth interviews were conducted with CEOs, marketing directors, other innovation and strategy directors, and executives from various key organizations operating in this market. By Company Type: Tier-II– 55%, Tier-I- 32%, Others - 13% By Designation: C Level - 17%, Directors/Vice Presidents – 31% and Others – 52% By Region: North America - 59%, Europe - 25%, Asia Pacific - 10% , RoW-6% ZF Friedrichshafen AG (Germany), Continental AG (Germany), Magna International Inc. (Canada), BorgWarner Inc. (US), and JTEKT Corporation (Japan) are the leading manufacturers of all wheel drive in the global market. Research Coverage: The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies. Key Benefits of Buying the Report:
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