The global differential assembly market was reached 121.7 million units and valued at $22,390.8 million in 2019, and is projected to attain the demand for 145.6 million units and reach $27,464.2 million by 2025, registering a CAGR of 3.0% in terms of volume and 3.5% in terms of value from 2019 to 2025.
Rest of world followed by Europe was the highest revenue contributor. Rest of world and Europe collectively accounted for around 51.9% share in 2019. China is the leading consumer in terms of volume sales of differential assembly, owing to automotive production facilities present in the region. Automotive differential can be defined as a device used to split engine’s torque in two ways, which allows each output to spin at a different speed. The differential is found in all modern passenger vehicles, commercial vehicles, and all drive vehicles. Wining long-term contracts is the key strategy followed by the market participants to gain competitive advantage in the global market.
The global starter motor market reached 132.5 million units in 2019, and is projected to reach 171.4 million units by 2025, registering a CAGR of 4.4%. China followed by rest of world was the dominating region in terms of unit sales. India and rest of world are expected to witness considerable CAGRs of 6.8% and 5.5%, respectively, during the forecast period.
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Increase in adoption of fuel-efficient mobility solution coupled with effective performance requirements, growing penetration of the AWD and 4WD vehicles, and rise in demand for commercial vehicles fuel the growth of the global differential assembly, starter motor, and bevel gear market. At the same time, increase in production and sales of automotive from past two years and increase in production of vehicles with in-wheel electric motors restrain the growth to some extent. Moreover, production of electronic limited slip differentials is anticipated to pave the way for numerous opportunities in the coming period of time.
The covid-19 outbreak disrupted the supply chain and restrained business development. This in turn decreased the automotive production worldwide.
However, as the government bodies have issued relaxations on the existing regulations, the global differential assembly, starter motor, and bevel gear market is expected to revive soon.
The differential assembly market is segmented by vehicle type into passenger car, light commercial vehicles, heavy commercial vehicles, and tractors. Based on vehicle type, the passenger car segment held the largest market share with nearly three-fourths of the global differential assembly market share in 2019, and is projected to rule the roost by 2025. However, the tractors segment is expected to manifest the fastest CAGR of 5.7% throughout the forecast period.
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On the basis geography, the market across Europe dominated with major market share in 2019, with around one-fourth of the global differential assembly market. In addition, the market across India is expected to showcase the fastest CAGR of 4.1% from 2019 to 2025.
The key market players profiled in the Differential Assembly, Starter Motor and, Bevel Gear Market report include BorgWarner Inc, JTEKT Corporation, Dana Limited, American Axle & Manufacturing Holdings, Inc., GKN, Hyundai WIA Corporation, Eaton, Schaeffler Technologies AG & Co. KG., ZF Friedrichshafen AG, and Linamar Corporation.
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Similar Reports We Have on Automotive Industry:
Automotive Differential Market – https://www.alliedmarketresearch.com/automotive-differential-market
Automotive Piston Market – https://www.alliedmarketresearch.com/automotive-piston-market
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