Market for automotive differential gear is estimated to expand notably during the forecast period owing to a surge in production of vehicles coupled with high demand for four-wheel drive vehicles
Automotive differential gear is a part of the automotive power transmission unit, which is responsible for transmission and distribution of driving force generated by the engine to the wheels. The differential regulates the variations in rotation speeds of the wheels that are mounted on the same axle while turning.
The automotive differential gear market has been witnessing significant expansion in the last few years due to rise in production of four-wheel drive vehicles in most countries across the globe
Global Automotive Differential Gear Market – Drivers
Rise in demand for four-wheel drive vehicles across major automotive markets has led to the rise in production of differential gears
Increasing preference for off-road trips has significantly driven the market for four-wheel drive vehicles, which comprise multiple differential gears. This, in turn, is driving the automotive differential gear market.
The automotive differential gear market is dependent on the production of vehicles, as all vehicles contain differential gears that help maintain vehicle stability while turning. Moreover, the differential gear prevents the wear and tear of the tire, thus improving the life of tires.
Trend of 3D printing is anticipated to positively influence the market for automotive differential gears
Key automotive manufacturers such as Toyota and Kia are focused on the production and sales of SUVs (sports utility vehicles) that offer four-wheel drive options; consequently, booting the automotive differential gears market.
Global Automotive Differential Gear Market – Restraints
Development of wheel hub motors for electric vehicles is likely to hamper the market for automotive differential gears due to elimination of conventional powertrain from electric vehicles that contain wheel hub motors
Global Automotive Differential Gear Market – Opportunities
Four-wheel drive vehicles are gaining high popularity in several countries such as the U.S. and India, which is likely offer significant opportunity to manufacturers of automotive differential gears. Moreover, rear-wheel drive vehicles contain a more complex differential, as compared to that incorporated in front-wheel drive vehicles, thus increase in demand for rear-wheel drive vehicles is projected to boost the demand for automotive differential gears.
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Market in Asia Pacific to expand significantly during forecast period
Asia Pacific is anticipated to be a key market for automotive differential gear, owing to expansion of the manufacturing sector in the All major manufacturers are highly focused on the establishment and expansion of the manufacturing sector in Asia Pacific region due to easy availability of raw material and labor. China, India, and Japan are major contributors to the manufacturing sector of Asia Pacific and are anticipated to be prominent markets for automotive differential gear.
