Global All-Wheel Drive Market Report: Information by Type (Manual AWD and Automatic AWD), Propulsion (ICE vehicle and Electric), Application (On-Road and Off-Road), Vehicle Type (Passenger Vehicle and Commercial Vehicle) and Region – Forecast till 2023
Global all-wheel-drive market is expected to grow at a significant rate of 7.83 percent CAGR. This feat is expected to be achieved during the forecast period of 2018 to 2023. It is anticipated that the market can witness growth from USD 23,429.8 million to USD 36,572.3 million by the anticipated period of 2023. There are various factors contributing to the growth of this market-led by the growing interest among investors. Consistent interest from investors’ perspective can also be touted among the foremost reasons.
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There is a massive demand for AWD system among various nations. To be specific, the prominent nations in Asia Pacific are showing a great prospect. At the same time, the product development rate has grown in a noteworthy fashion as well in the forecasted years. It is the competitiveness in terms of price that makes things even more enchanting at all levels. Adoption of AWD system in the automobile sector specifically is expected to be the most promising. All these aspects contribute equally towards the growth of Global all-wheel-drive market. Superior driving dynamics is one of the prime reasons behind the AWD market around the globe. Increasing rate of accidents occurring is projecting towards the need to look for greater market prospects in global AWD market. Growing concerns towards safety aspects are also one of the prime reasons behind the encouraging scenario of the Global all-wheel-drive market. There are similar prospects from a performance point of view. All these aspects in combining widen the scope for the significant boost of the global AWD market.
The key players operating in the global all-wheel drive Market are American Axle & Manufacturing, Inc. (US), GKN PLC (UK), Magna International Inc. (Canada), ZF Friedrichshafen AG (Germany), BorgWarner Inc. (US), Continental AG (Germany), JTEKT Corporation (Japan), Dana Limited (US), Eaton (Ireland), and Oerlikon (Italy).
The global all-wheel-drive market can be segmented on the basis of type, propulsion, application, vehicle type, and region. In terms of type, the market is segmented further into manual AWD and automatic AWD. The manual AWD segment to be specific is expected to be the most significant in the all-wheel-drive market due to the increasing demand for sport utility vehicles (SUV) and crossover utility vehicles (CUV). Noteworthy here is that these systems are known for their comparatively low manufacturing cost, in comparison with other available alternatives. Additionally, the boosts in sales of off-road vehicles, growing level demand for stability, and superior driving experience, can significantly enhance the demand for manual all-wheel-drive system during the forecast period.
From a region perspective, the global all-wheel-drive market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America is among the most prominent nations with highest share in the market during the forecast period. Europe comes next with around 33 percent share, which is followed by Asia-Pacific that holds 26 percent share. North American market is enriched with greater prospects from the US. India and China are the leading markets in Asia Pacific. European market is led by the UK and Germany. Talking about rest of the world, Middle East and Africa are touted to be the mostpromising.
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Table of Content
1 Executive Summary
2 Market Introduction
2.1 Definition 18
2.2 Scope Of The Study 18
2.3 List Of Assumptions 19
2.4 Market Structure 19
2.5 Key Takeaways 20
2.6 Key Buying Criteria 20
2.7 Macro Factor Indicators Analysis 21
3 Research Methodology
3.1 Research Process 23
3.2 Primary Research 24
3.3 Secondary Research 24
3.4 Market Size Estimation 25
3.5 Forecast Model 26
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