An all-wheel drive is a drivetrain that distributes torque to all wheels of the vehicle in part-time or full-time. The global all-wheel-drive market for value is estimated to register a 7.83% CAGR during the forecast period of 2018–2023. During that time, its valuation can grow from USD 23,429.8 million in 2017 to USD 36,572.3 million by 2023.
Market Highlights
An all-wheel drive is a drivetrain that distributes torque to all wheels of the vehicle in part-time or full-time. In full time all-wheel drive system, all axles are permanently connected with or without differential and part-time all-wheel drive one axle is connected to the drive and other axle is connected as needed. All-wheel drive systems are more often used in SUVs, CUVs, luxury sedans, electric vehicles, and high-end sports vehicles to meet the demand for stability, control, safety and enhance the driving experience.
Market Research Analysis
North America held the largest market share in the global all-wheel drive market.
Region-wise, North America held the largest market share of the global all-wheel drive market in 2017. North America is actively adopting new technologies in AWD equipped vehicles due to the presence of luxury vehicles and SUV manufacturers such as General Motors, Tesla, Inc., and Ford Motor Company. It is estimated that Asia-Pacific would be the fastest growing market during the forecast period, mainly due to the increased consumption and production of vehicles, both passenger and commercial. Europe is expected to be the second largest market during the forecast period owing to the EU revealed regulatory laws for vehicle emissions, which increased the demand for all-wheel drive systems in vehicles, due to their low emission capabilities.
Scope of the Report
This report provides an in-depth analysis of the global all-wheel drive market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Asia-Pacific, Europe, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the all-wheel drive market by its type, propulsion, application, vehicle type, and by region.
Key Players
The key players operating in the global all-wheel drive market are American Axle & Manufacturing, Inc. (US), GKN PLC (UK), Magna International Inc. (Canada), ZF Friedrichshafen AG (Germany), BorgWarner Inc. (US), Continental AG (Germany), JTEKT Corporation (Japan), Dana Limited (US), Eaton (Ireland), and Oerlikon (Italy).
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