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According to the estimates by IMARC Group, the global automotive multi-wheel drive market is expected to witness a CAGR of 5.10% during 2021-2026.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous automobile manufacturing units, thereby limiting the demand for automotive multi-wheel drive.
Increasing consumer awareness towards safety while driving as multi-wheel drives enable the engines to distribute the weight in a more efficient manner, represents one of the key drivers for the global automotive multi-wheel drive market.
A shift in consumer preferences towards comfort and luxury with enhanced driving dynamics represents one of the key trends in the global automotive multi-wheel drive market.
On the basis of the vehicle type, the market has been bifurcated into passenger cars, light commercial vehicles, and heavy commercial vehicles. Currently, passenger cars hold the largest market segment.
On the basis of the transmission type, the market has been divided into manual MWD and automatic MWD. At present, manual MWD accounts for the majority of the market share.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific dominates the global market.
The key companies in the global automotive multi-wheel drive market are 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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