- November 28, 2020
- Category: automotive-material-components, Automotive, Logistics and Transportation
Global Differential Assembly Market is valued approximately USD 22.39billion in 2019 and is anticipated to grow with a healthy growth rate of more than 3.5% over the forecast period 2020-2027. Differential assembly is an integral part of the automotive drivetrain, which provides the primary feature of proportional RPMs between two attached wheels. It is a portion of the assembly of the front and/or rear axles that plays an integral role in a vehicle and is intended to allow wheels to travel at different speeds. Differential assembly sales are directly influenced by the activities of automobile manufacturing across the globe. The increase in All-Wheel Drive and Four-Wheel Drive vehicle penetration is expected to help the growth of the differential assembly industry. Differential assembly procurement is carried out by long-term contracts and agreements between the manufacturer of the original equipment and the supplier of the differential assembly. Further, as most of the automotive industry is equipped with high-end electrical and electronics technology driven systems, the automotive industry has witnessed dramatic shift on the front of technological growth. In addition, automobile emissions are a key factor, since, they emit toxic greenhouse gases that have a long-term environmental impact. Many governments around the world are taking the initiative to regulate greenhouse emissions and environmental balance through the vehicle emission standards standard. The Government of India, for example, introduced the BS6 emission standard from April 2020 to regulate the outflow of air pollutants from vehicles. Furthermore, in the driving experience, end users/drivers demand technologically advanced electrical components and systems for ease and comfort. The demand for starter motors is motivated by the increased need for electrical and electronic components. In addition, the change in customer preference is expected to fuel the market for electrification of the car, which in turn, drives the demand for the starter motor. Also, the penetration of AWD and 4WD vehicles has increased significantly and the momentum in the coming years is expected to be sustained. To perform the driving operations, these drive systems need two or three differential assemblies. However, declining production and sales of the automotive impedes the growth of the market over the forecast period of 2020-2027. Also, the increasing demand for automotive vehicles creates an opportunity for the market, thus, the adoption & demand for Differential Assembly is likely to increase.
The regional analysis of global Differential Assembly market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to the volume sales of differential assembly, China is the leading buyer, owing to the automotive production facilities present in the country. Whereas, North America is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising disposable income, rising demand for automotive vehicles would create lucrative growth prospects for the Differential Assembly market across the region.
Major market player included in this report are:
American Axle & Manufacturing Inc
Hitachi Automotive Systems, Ltd.
ZF Friedrichshafen AG
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
By Vehicle Type:
Light Commercial Vehicles
Heavy Commercial Vehicles
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Differential Assembly Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers