The global automotive differential market is segmented into type such as open differential, locking differential, limited-slip differential, electric limited-slip differential and torque-vectoring differential. Among these segments, electric limited-slip differential segment is expected to emerge as fastest growing segment in automotive differential market. The advanced features of electric limited-slip differentials such as better torque distribution are expected to bolster the growth of this segment overt the forecast period. Moreover, electric limited-slip differentials are generally found in luxury and premium cars.
Global automotive differential market is expected to register a notable CAGR over the forecast period. Moreover, the global automotive differential market is expected to expand on the back of growing automotive industry across the globe. Increasing production of new vehicles is a key factor which is expected to augment the growth of global automotive differential market in upcoming years.
The passenger cars segment by vehicle type is likely to grow at remarkable pace during the forecast period. Increasing sales of new passenger cars in both developing and developed countries is the key factor which is driving the growth of this segment over the forecast period. According to international organization of motor vehicle manufacturers, total 68,539,516 passenger cars were sold globally in 2016 as compared to 22,241,067 commercial vehicles in 2016.
Rising Affordability of Consumers
The increasing level of consumer’s income and affordability are augmenting the sales of new vehicles across the globe. Further, the preference for cars is increasing over motor bikes owing to improving living standards of population. This increasing sale of new vehicles is escalating the growth of automotive differential market across all regions.
Growing Automotive Sector
Factors such as, changing consumer life style and rising preference for comfortable ride are escalating the sales of automotive differential market across all regions. The market of automotive differential is primarily driven by growing automotive industry and this rise in sales of automotive vehicles is expected to foster the growth of automotive differential market over the forecast period.
Although, presence of on-demand taxi operators and growing preference for public transport among a part of population limiting the sales of new vehicles which is likely to inhibit the growth of the automotive differential market in the near future.
The report titled “Global Automotive Differential Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the global Automotive Differential market in terms of market segmentation by type, by vehicle type, by drive type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global Automotive Differential market which includes company profiling of GKN plc, Eaton, Auburn Gear LLC, American Axle & Manufacturing, Inc., Powertrax, JTEKT Corporation, Neapco, Dana Limited, ZF Friedrichshafen AG, BorgWarner Inc. and other notable players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Automotive Differential market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future
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