Automotive Multi-Wheel Drive Equipment Market

Automotive Multi-Wheel Drive Equipment Market by Product Types (Manual Multi-wheel Drive (manual MWD), Automatic Multi-wheel Drive (automatic MWD)) by Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028

Frequently Asked Questions

  • What is the global demand for Automotive Multi-Wheel Drive Equipment in terms of revenue?

    The global Automotive Multi-Wheel Drive Equipment valued at 25.57 Billion in 2020 and is expected to reach 54.06 Billion in 2028 growing at a CAGR of 9.81%%

  • Which are the prominent players in the market?

    The prominent players in the market are ZF Friedrichshafen, Continental, Magna International, GKN (GKN Driveline), American Axle Manufacturing, Oerlikon AG (Oerlikon Fairfield), Dana Holding, BorgWarner, JTEKT..

  • At what CAGR is the market projected to grow within the forecast period?

    The market is project to grow at a CAGR of 9.81%% between 2021 and 2028.

  • What are the driving factors fueling the growth of the market.

    The driving factors of the Automotive Multi-Wheel Drive Equipment include

    • The increasing demand for fuel efficient vehicles is anticipated to augment the growth of the automotive multi-wheel drive equipment market during the forecast period. The use of multi-wheel drive system provides improved fuel efficiency, stability, control, safety, and an enhanced driving experience at the same time. These features have led the automobile companies to invest extensively in these systems. Furthermore, the increase in demand for SUVs is also driving the demand for the automotive multi-wheel drive equipment market.
    • The increasing inclination towards using developed technologies is expected to support the growth of the automotive multi-wheel drive equipment market in the years to come. This shift of automotive industry towards using advanced technologies is to decrease the vehicle crashes, reduce the percentage of accidents and mitigate the impact of accidents on passengers. Furthermore, these systems are affordable and also provide safety.

  • Which region accounted for the largest share in the market?

    North America was the leading regional segment of the Automotive Multi-Wheel Drive Equipment in 2020.

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