Market Research Report
Automotive Differential Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025
|Published by||IMARC Services Private Limited||Product code||960419|
|Published||Content info||108 Pages
Delivery time: 2-3 business days
|Automotive Differential Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025|
|Published: September 3, 2020||Content info: 108 Pages||
The global automotive differential market grew at a CAGR of around 6% during 2014-2019. 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. Looking forward, IMARC Group expects the global automotive differential market to continue its moderate growth during the next five years.