Published Date : May 02, 2018
ALBANY, New York, May 2, 2018 –A report on the global differential market for automotive industry has been added to the rapidly growing portfolio of Marketresearchreports.biz. Titled, “Differential Market For Automotive Industry - Global Industry Analysis, Size, Share, Growth, Trends, And Forecast 2017 - 2025,” the report analyzes the overall growth of this market. The latest trends, growth drivers as well as threats that could be faced by the market are discussed in detail in this report. The comprehensive study includes the future prospects and reports of the industry, including market size and share, on account of risk factors and market opportunities. This report forecasts revenue growth at global, regional, & country levels and provides an reports on industry trends in each of the sub-segments from 2017 to 2025.
Differentials for automotive industry are designed to drive a pair of wheels while enabling them to rotate at different speeds. Additionally, a differential provides the vehicle an improved traction on the road by ensuring that the wheels rotate at different speeds.A differential essentially functions with via speed reduction at the pinion gear assembly, paving the way for realization of different and provides better traction. Differential assemblies consists either of pinion gears, ring gears and spider gears, which are arranged in the form of sun and planetary gears. This specific arrangement entails in providing required speed to different wheels whilst turning.
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The key trends influencing the growth of the global differential market for automotive industry is the surge in demand for SUVs, crossovers, compact SUVs and premium cars across the globe. As reported by JATO dynamics by 2020, SUVs are expected to account for more than third of Europe’s new car sales. Swaying consumer inclination towards all wheel and four wheel drives integrated vehicles in Asian countries have resulted in a rise in popularity of off-road vehicles and sports cars. These factors are likely to positively impact the overall market growth during the coming years. The increasing disposable incomes and purchasing powers of individuals, primarily in developing regions are providing an impetus to the demand for vehicles in the coming years.
Additionally, there has been a decrease in the interest rates for car loans, which has enabled people to purchase expensive vehicles. One of the major automotive companies Toyota, has already planned to shift its production to Mexico to meet the demand from Canada and the US and another major automaker General Motors has planned to launch more SUVs and crossovers in the US in the coming years. All these factors are working towards effectively boosting the global differential market for automotive industry.
Leading players in the differential market are PLC,BorgWarner, JTEKT Corporation, ZF Friedrichshafen AG, Schaeffler, Eaton and GKN.
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