LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global automotive transfer case market to grow at a CAGR of close to 6% during the period 2018-2022, according to their latest report.
This market research report segments the global automotive transfer case market by application type (commercial vehicles and passenger cars) and by geography (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
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In this report, Technavio analysts highlight the increasing sales of AWD vehicles as a key factor contributing to the growth of the global automotive transfer case market:
Growing sales of AWD vehicles
There has been a growing demand for AWD vehicles that have been eventually leading to increased demand for transfer cases. AWD vehicles have enhanced handling, improved stability, and superior driving dynamics. The wheels of a vehicle need torque to maintain traction on rough terrain, particularly while driving uphill or through gravel, mud, snow, and rain. AWD technology improves the vehicle’s off-road capability and performance by automatically varying the torque to all wheels and maintaining traction. This also aids in improving the safety level of the vehicle in addition to improved vehicle dynamics.
Usually, vehicles lose traction over slippery roads causing the driver to lose control of the vehicle. AWD vehicles have better handling capability on wet and slippery roads. In AWD vehicles, the power is distributed to all the four wheels with almost equal torque. This power distribution assists in attaining better driving characteristics in low-traction conditions. This is one of the factors that has led to AWD technology gaining prominence in SUVs, crossovers, and pickup trucks.
According to a senior analyst at Technavio for automotive components, “OEMs have launched vehicles with intelligent-AWD technology. Using sensors, this technology tracks the wheel steering angle, wheel speed, and yaw rate, and automatically adjusts the torque to the wheel by detecting the type of road. All vehicles that are equipped with AWD technology require a transfer case to synchronize the rotation of the front and rear wheels. Therefore, increasing sales of AWD vehicles will drive the demand for automotive transfer cases.”
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Global automotive transfer case market segmentation
Of the two major application type segments, the commercial vehicles segment held the largest market share in 2017, accounting for nearly 60% of the market. However, the market share for this segment is expected to decrease by nearly 4% by 2022.
The Americas was the leading region for the global automotive transfer case market in 2017, accounting for a market share of almost 53%. This region is anticipated to project steady growth during the forecast period.
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