The differential is an integral part of all four wheelers. Differential assists the wheels to rotate at different rpm via speed reduction at pinion gear assembly and provides better traction. A new study has been recently identified that differential market across the globe is witnessing the transformation in the automotive industry. To elaborate further, Market Research Hub (MRH) has publicized a 310-page study titled “Differential Market For Automotive Industry - Global Industry Analysis, Size, Share, Growth, Trends, And Forecast 2017 – 2025” to its vast archive, which majorly aims to provide wide-ranging insights into the market current scenario and future growth prospects during the mentioned forecast period of 2017-2025.
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Further, the global market growth has been analyzed in terms of revenue and volume estimates (in US$ Mn and Thousand Units), across different geographies such as North America, Europe, Asia-Pacific, Middle East and Africa and Latin America. As per the research prime findings, increase in demand for SUVs, crossovers, compact SUVs and premium cars across the globe is considered one of the major driving factors to bolster the market of differential market in the forecast period. Analyst has anticipated that the global differentials market for automotive is expected to grow at a CAGR of more than 5% during forecast 2017 – 2025.
Market Snapshot and Factors Fueling Market Growth
In the initial section, the research offers an at-a-glance overview of differentials market for automotive. This section comprises qualitative analysis, by considering the factors shaping the market drivers, opportunities and restraints, together with Porter's five forces and market attractiveness analysis. Moreover, the study provides a decisive view of the global differential market for vehicles by segmenting it in terms of type, vehicle, and region. By types, the report covers open differential, lock differential, among others. The drive type analysis splits the differential market for automotive into two-wheel drive (2WD) and four-wheel drive (4WD/AWD) types.
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According to the report, the global market will continue to be influenced by a range of macroeconomic and industry-specific factors. Some of the prime findings identified by the study include-
- Rising urbanization and hub-spoke architecture in different countries have attributed towards the increase in overall vehicle miles driven globally by approximately 2% - 4% over the past recent years.
- In terms of geography, Asia Pacific dominated the differential market for automotive with more than 40% market share and is expected to follow the same trend during the forecast.
- An upsurge in the adventurous activities amidst the youth population have elevated the desire towards compact SUVs and vehicles with off-roading capability. This, in turn, has accentuated the demand for differential integration thereby propelling the market growth.
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