Transparency Market Research
In a 4-wheel drive vehicle, all wheels receive power from the engine, wherein the front and rear wheels rotate at the same speed, which advances traction and stability of the vehicle. The 4 wheel drive system used to increase the safety, stability, fuel efficiency, and driving control are some advantages that are likely to propel the automotive 4 wheel drive market. Rise in demand for off-road driving where vehicle is drive in sand, snow, or inclined hilly roads where wheel required more power for forward motion , 4 wheel drive helps allocate power consistently to the both front and rear axles, thus equally distribute the power in all the wheels and keeping a straight traction. Growing construction industries, and increase in urbanization in all over the world will increase the demand for commercial heavy vehicles like mining trucks, earthmoving equipment, tractors, heavy load trucks ,SUVs and vehicles with high force driving experience is anticipated to boost the automotive 4 wheel drive market. Due to high cost of 4 drive system OEM fitted this system only in high end vehicle. Furthermore the increase in penetration of sales in low end passenger vehicle, hybrid vehicle and increase in concerned about passenger safety and stringent government norms in automotive industry will expected to increase the demand for 4 wheel drive market in the near future.
The global automotive 4 wheel drive market can be segmented based on technology, vehicle, electric vehicle, and region. In terms of technology, the automotive 4 wheel drive market can be classified into automatic 4 wheel drive, and one more segment. The automatic 4 wheel drive segment is anticipated to increase in the forecasting period. Automobile manufacturers and automotive R&D center are participating in automatic 4 wheel drive segment in order to take advantages over the compotators in the automotive 4 wheel drive market. Based on vehicle, the automotive 4 wheel drive market can be divided into passenger vehicle, and one more segment. The passenger vehicle segment is estimated to expand significantly during the forecast period due to increase in per capita income of the people and rise in willingness to pay for vehicle safety and high end application. Based on electric vehicle, the automotive 4 wheel drive market can be segregated into battery vehicle, hybrid electric vehicle, and plug-in hybrid electric vehicle. The rise in pollution due to vehicle combustion system, people are diverted toward the green energy vehicle. Which will increase the production of electric vehicle in the global market. Furthermore driving factor for the growth of electric vehicles is the initiation taken by the different governmental agencies to boost the sale of these vehicle. The hybrid electric vehicle segment is projected to hold a prominent share of the automotive 4 wheel drive market during the forecast period.
In terms of region, the global automotive 4 wheel drive market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe accounts for a significant market share of the 4 wheel drive market, followed by North America and Asia Pacific. The market in Asia Pacific is likely to expand at a significant growth rate during the forecast period. Demand for high end passenger vehicle, SUVs, and premium vehicle is expected to be high in countries such as China, India and Japan will boost the demand for 4 wheel drive market in the forecasting period.
Key players operating in the global 4 wheel drive market include ZF Friedrichshafen AG, Magna International Inc., BorgWarner Inc., Continental AG, JTEKT Corporation, BorgWarner Inc., and Haldex.
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