The global automotive differential gear market is anticipated to grow at a CAGR of 4.5% during the forecast period (2022-2028).It is a part of the vehicle’s power transmission unit that transmits and distributes an engine’s driving force to the wheels. The major factor expected to drive the market growth is the increasing demand for an enhanced driving experience in terms of racing and sports cars and significant demand for automobiles owing to the rising number of nuclear families and changing lifestyles. Furthermore, an increase in demand for four-wheel drive vehicles from customers across major automotive markets and the rising demand for differential gears have further increased the demand for premium cars and SUVs. These are some factors that propel the growth of the market during the forecast period. In addition, the rising demand for rear-wheel-drive vehicles and the high need for improved vehicle safety, stability, and enhanced driving dynamics are further expected to drive the global automotive differential gear market during the forecast period.
A full report of Global Automotive Differential Gear Market is available at:https://orionmarketreports.com/global-automotive-differential-gear-market/107170/
Some major players in the market include Eaton Corp., plc, American Axle & Manufacturing Inc., and Bharat Gears Ltd., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in February 2021, ZF Friedrichshafen AG announced that the company is going to invest $200 million in commercial vehicle transmission manufacturing in North America. The company also added that they will produce the ZF Power line 8-speed automatic transmission at the company’s state-of-the-art manufacturing facility in Gray Court, SC from the beginning of 2023.Moreover, in July 2021, ZF Friedrichshafen AG announced that the company secured a nearly $6 billion axle contract for the Marysville, Michigan facility for delivery of beam axles and axle drives for pick-up trucks until 2027.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Product Type
- By Application
- By Sales Channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape-Eaton Corp., plc, American Axle & Manufacturing Inc., and Bharat Gears Ltd., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Automotive Differential Gear Market Report by Segment
By Product Type
- Planetary
- Rack and pinion
- Worm
- Helical
- Non-metallic
- Others
By Application
- Differential
- Steering system
- Transmission
- Others
By Sales Channel
- Original Equipment Manufacturers (OEMs)
- Aftermarket
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