The global automotive differential market reached a value of US$ 18.1 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 4.8% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
An automotive differential is a gear train that enables the wheels to rotate at different speeds while turning. It splits the engine torque into two separate units, thus enabling them to multiply engine power and spin wheels at different speeds. The differential is usually present in the rear axle assembly of rear-wheel drives and consists of pinion bearings, spider and side gears, side bearings and differential case and drive gears. Open, locking, limited-slip, electronically controlled limited-slip and torque vectoring differential are the commonly used variants that are added to passenger and commercial vehicles.
Significant growth in the automotive industry is one of the key factors creating a positive outlook for the market. Furthermore, the increasing demand for commercial and heavy-duty vehicles is also providing a boost to the market growth. The differential is a crucial component in automobiles that aids in conveniently maneuvering the vehicle at curves with enhanced traction control and preventing accidents. Widespread adoption of electronically limited-slip differential (ELSD) is acting as another growth-inducing factor. It is primarily used in sports and off-road automobiles that offer improved braking systems, off-road and on-road driving experience, comfort and stability of the vehicles over slippery roads. Other factors, such as rising expenditure capacities of consumers, increasing preference for luxury and semi-utility vehicles (SUVs) and extensive research and development (R&D) activities to produce more cost-effective and efficient variants, are expected to drive the market further.
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The report has also analysed the competitive landscape of the market with some of the key players being American Axle & Manufacturing Inc., Borgwarner Inc., Continental AG, Dana Limited, Eaton Corporation Inc., GKN Plc (Melrose Industries), JTEKT Corporation (Toyota Motor Corporation), Linamar Corporation, PowerTrax, Schaeffler Group and ZF Friedrichshafen AG.
|Base Year of the Analysis||2020|
|Segment Coverage||Type, Drive Type, Vehicle, Component, Vehicle Propulsion Type, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||American Axle & Manufacturing Inc., Borgwarner Inc., Continental AG, Dana Limited, Eaton Corporation Inc., GKN Plc (Melrose Industries), JTEKT Corporation (Toyota Motor Corporation), Linamar Corporation, PowerTrax, Schaeffler Group and ZF Friedrichshafen AG|
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