Report Code: A08453 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Automotive Multi-wheel Drive Market
Request Now !Multi-wheel drive system comprises 2×2, 4×4, 6×6, or 8×8 drive-train systems that include a differential between the fronts and rear drive shafts. Vehicle with 4 x 4 drive system supplies power from the engine to both front and rear axles. However, 4 x 4 drive systems fail to manage the power on individual wheels and cause issues during high-speed turns. The all-wheel drive (AWD) system introduced the concept of differential power, which enables the vehicle to control the torque received at each wheel. Therefore, AWD systems achieve higher efficiency, performance, and safety compared to other drive systems, resulting in the growth of the automotive multi-wheel drive market in near future.
COVID-19 scenario analysis:
The significant factors that impact the growth of the automotive multi-wheel drive market are rise in need for fuel efficiency, control & stability in heavy vehicles, increase in safety awareness across the world, and affordability of multi-wheel drive. Moreover, lack of awareness regarding manual & automatic multi-wheel drive system and stringent fuel economy norms in some countries hamper the growth of the automotive multi-wheel drive market. Furthermore, shift in consumer preference toward comfort & luxury driving and increase in demand for SUVs and sports vehicles are expected to fuel in the growth of the automotive multi-wheel drive market.
Multi-wheel drive systems have evolved from the need for better fuel efficiency, safety, stability, control, and driving experience. These features prompt automobile companies to invest extensively in such systems. The market for these systems is driven by increase in demand for SUVs. Therefore, this leads to the growth of the multi-wheel drive system market in near future.
The automotive industry is inclined toward using advanced technologies to reduce crashes and mitigate the impact of accidents on passengers. In addition, multi-wheel drive systems play an important role to provide safety. Furthermore, these systems are also affordable, which leads to the growth of the multi-wheel drive system market in near future.
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Questions answered in the automotive multi-wheel drive market research report:
Automotive Multi-wheel Drive Market Report Highlights
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Key Market Players | Magna International Inc, Borg Warner Inc, Dana Holding Corporation, American Axle Manufacturing, ZF Friedrichshafen AG, Continental AG, Mitsubishi Motors, Eaton Corporation, JTKT Corporation, GKN Plc, Oerlikon Inc |
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