LONDON--(BUSINESS WIRE)--The global automotive differential gear market is expected to post a CAGR close to 4% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The popularity of AWD and FWD technologies, which are used for powering each vehicle wheel, is increasing. These technologies have an axle fitted with differential box and a transfer case that splits power equally between the front and rear axles. These technologies reduce power loss and enhance vehicle efficiency and operability. The increased sales and the launch of vehicles featuring AWD and FWD technology will drive the automotive differential gear market during the forecast period.
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As per Technavio, the use of 3D printing in gear manufacturing will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Automotive Differential Gear Market: Use of 3D printing in Gear Manufacturing
Vehicle and associated component manufacturers are increasingly adopting additive manufacturing technologies to develop lightweight, efficient, and cost-effective products. 3D printing is being used to manufacture 3D objects from computer-aided design models. The technology reduces the waste produced during component manufacturing, thereby reducing the overall manufacturing cost. The technology has offered opportunities for gear manufacturers to develop differential gears with advanced designs and material compositions. Thus, the use of 3D printing in gear manufacturing is expected to be a key trend that will boost market growth during the forecast period.
“Apart from the use of 3D printing in gear manufacturing, other factors such as the increased emphasis on alternative raw materials by manufacturers, and the development of hub motors will have a significant impact on the growth of the automotive differential gear market during the forecast period,” says a senior analyst at Technavio.
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Automotive Differential Gear Market: Segmentation Analysis
This market research report segments the global automotive differential gear market by vehicle type (commercial vehicle and passenger vehicle) and by region (North America, Europe, APAC, South America, and MEA).
The APAC region led the market in 2018, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market and register the highest incremental growth. This is due to factors such as the launch of AWD vehicle models and the increasing demand for SUVs and EVs in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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