The global automotive multi-wheel drive market size reached 15.9 Million Units in 2022. Looking forward, IMARC Group expects the market to reach 21.0 Million Units by 2028, exhibiting a growth rate (CAGR) of 4.5% during 2023-2028. The increasing participation in recreational activities, rising sales of SUVs, and the growing focus on driver safety represent some of the key factors driving the market.
Automotive multi-wheel drive (MWD), also known as all-wheel drive (AWD), is a drivetrain system that provides power to all four wheels of a vehicle simultaneously. It is designed to improve traction, stability, and handling on various types of terrain and numerous weather conditions. It comprises vehicles that have four or more than four wheels, such as sport utility vehicles (SUVs), trucks, commercial lorries, and luxury cars. It is also equipped with sensors that are installed on each wheel to monitor traction, speed, and several other data points. It is considered ideal for rough terrains like snow, ice, mud, off-road, and sand as it prevents slipping and helps push the vehicle forward. It also allows the engines to distribute the weight in a more efficient manner.
The increasing use of automotive MWDs in pickup trucks for off-roading events and the rising participation in recreational activities and adventure sports represents one of the major factors bolstering the market growth around the world. Moreover, the growing usage of automotive MWDs in military vehicles that are designed to tackle rough terrain and provide superior traction and stability in challenging environments is influencing the market positively. In addition, there is an increase in the sales of SUVs on account of rapid urbanization and inflating income levels. This, coupled with a rising focus on driver and passenger safety due to the growing instances of fatal road accidents, is driving the demand for automotive MWD in these vehicles. Apart from this, the increasing adoption of automotive MWDs in all terrain vehicles (ATVs) to improve fuel efficiency by reducing energy waste using advanced technologies, such as regenerative braking and hybrid powertrains, is favoring the growth of the market. Furthermore, the rising awareness about the benefits of using automotive MWDs, such as better weight management, safety and traction, and increased control and grip under all road conditions, is propelling the growth of the market. Besides this, the advent of automotive MWDs that are incorporated with an electronic control unit (ECU) to provide the desired driving characteristics is strengthening the growth of the market. Additionally, the growing consumer preferences towards comfort and luxury driving with enhanced driving dynamics are creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive multi-wheel drive market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on vehicle type, transmission type and wheel drive type.
Vehicle Type Insights:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
The report has provided a detailed breakup and analysis of the automotive multi-wheel drive market based on the vehicle type. This includes passenger cars, light commercial vehicles, and heavy commercial vehicles. According to the report, passenger cars represented the largest segment.
Transmission Type Insights:
A detailed breakup and analysis of the automotive multi-wheel drive market based on the transmission type has also been provided in the report. This includes manual MWD and automatic MWD. According to the report, manual MWD accounted for the largest market share.
Wheel Drive Type Insights:
- Front-wheel Drive (FWD)
- Rear-wheel Drive (RWD)
- Four-wheel Drive (4WD)/All-wheel Drive (AWD)
The report has provided a detailed breakup and analysis of the automotive multi-wheel drive market based on the wheel drive type. This includes front-wheel drive (FWD), rear-wheel drive (RWD), and four-wheel drive (4WD)/all-wheel drive (AWD). According to the report, four-wheel drive (4WD)/all-wheel drive (AWD) represented the largest segment.
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include Asia Pacific, North America, Europe, the Middle East and Africa, and Latin America. According to the report, North America was the largest market for automotive multi-wheel drive. Some of the factors driving the North America automotive multi-wheel drive market included significant improvements in automotive infrastructure, product innovations, integration of advanced technologies, etc.
The report has also provided a comprehensive analysis of the competitive landscape in the global automotive multi-wheel drive market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Borg Warner Inc, Continental AG, ZF Friedrichshafen AG, JTEKT Corporation, Magna International Inc., American Axle & Manufacturing Inc., Eaton Corporation Inc., GKN Plc, Dana Incorporated, Oerlikon Group, Mitsubishi Motors Corporation., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
||Vehicle Type, Transmission Type, Wheel Drive Type, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||Borg Warner Inc, Continental AG, ZF Friedrichshafen AG, JTEKT Corporation, Magna International Inc., American Axle & Manufacturing Inc., Eaton Corporation Inc., GKN Plc, Dana Incorporated, Oerlikon Group and Mitsubishi Motors Corporation
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Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the automotive multi-wheel drive market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global automotive multi-wheel drive market.
- The study maps the leading, as well as the fastest-growing, regional markets.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the automotive multi-wheel drive industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.