Automotive Multi-Wheel Drive Equipment Market
Automotive Multi-Wheel Drive Equipment Market Global Industry Assessment & Forecast
#
Pages:
169
2021
Nov - 2021
VMR-2021-0594
Segments Covered
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
Snapshot
 Forecast
Years:
|
2021 - 2028 |
 Historical
Years:
|
2016 - 2020 |
 Revenue
2021: |
25.57 Billion |
 Revenue 2028:
|
54.06 Billion |
 Revenue CAGR
(2021 - 2028): |
9.81% |
Fastest Growing Region (2022 -
2028)
|
North America |
Customization Offered
Cross-segment Market Size and
Analysis
for Mentioned Segments- Additional Company Profiles (Upto 5
With
No Cost)
- Additional Countries (Apart From
Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request
Customization Speak To
Analyst
Product Types Analysis: Preview On the basis of Product Types,
the market is segmented into Manual Multi-wheel Drive (manual MWD), Automatic Multi-wheel Drive (automatic MWD). Manual Multi-wheel Drive (manual MWD) held the
highest share in 2020 and is expected to grow at a significant rate over the
forecast period. This is attributed to the rising demand for the Manual Multi-wheel Drive (manual MWD)
in developing countries such as China and India. Digitalization in Asia Pacific
region has led to a surge in the usage of technology in various business
processes over the past few years. Rising adoption of online platforms across
various sectors along with analytical solutions, IoT, AI, and Blockchain
technology to gain a competitive advantage is also paving the way for the Automotive Multi-Wheel Drive Equipment
market growth. Vehicle Type
Analysis: Preview
Based on Vehicle Type,
the market is segmented into Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles. Passenger Car held the
largest share and is projected to grow at a notable CAGR over the coming years.
Rising demand for Automotive Multi-Wheel Drive Equipment in various countries
such as the U.S., Germany, China, India, and Japan, among others is likely to
support the growth of the market. Numerous companies are focusing on investing
heavily in this application to cater the end user requirements effectively.
Global Automotive Multi-Wheel Drive Equipment Market: Product Types Segment Analysis
-
- Manual Multi-wheel Drive (manual MWD)
- Automatic Multi-wheel Drive (automatic MWD)
Global Automotive Multi-Wheel Drive Equipment Market: Vehicle Type Segment Analysis
-
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
FAQ
Frequently Asked Question
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.
