The automotive transfer case is the most important component of a four-wheel and all-wheel drive vehicle. Four-wheel drive vehicle will have the simple automotive transfer case. In an automotive transfer case, power is diverted through transmission from an engine’s output to the rear and front wheels. Some automotive transfer cases utilize chains, whereas others use hydraulics and gearing. As a result of this, it’s expected that the plug-in hybrid electric vehicle (PHEV) category will be the fastest growing segment in the future.
According to Data Bridge Market Research the Automotive Transfer Case accounted for USD 16.68 billion in 2021, and expected to reach USD 32.01 billion by 2029. The market is expected to grow with a CAGR of 8.49% in the forecast period of 2022 to 2029.
“Growing use of four-wheel-drive vehicles and all-wheel-drive”
Shifting preference of consumer toward high clearance vehicles is boosting the demand for four-wheel drive and all-wheel drive vehicles such as crossovers and SUVs, thus increasing the demand for the automotive transfer case. The total sales of SUVs vehicles accounted for 42% in the U.S. and 26% in Europe in 2017. Thus, increasing preference for high clearance and powerful vehicle is likely to boost the demand for the automotive transfer case. Four-wheel and all-wheel drive applications have become important in commercial vehicles because they help while driving in off-terrain environments and improve vehicle stability. The increasing operations of these drive systems require the use of automotive transfer case. As a result, increasing four-wheel-drive vehicles and all-wheel-drive penetration is projected to increase the demand for automotive transfer cases and boosting the market growth.
What restraints the growth of Automotive Transfer Case Market?
“Increasing demand for battery electric vehicles”
Automotive transfer case for power systems is not used in battery electric vehicles (BEVs). As a result, the automotive transfer case market may be hampered by increasing demands for the battery electric vehicles. In various regions, the use of battery electric vehicles (BEVs) is increasing year after year. Thus, the increasing popularity of the battery electric vehicles will immediately influence the market's growth during the forecast period.
Segmentation: Automotive Transfer Case Market
The automotive transfer case market is segmented on the basis of drive type, shift type, casing material, and vehicle type and distribution channel.
- On the basis of drive type, the automotive transfer case market is segmented into gear-driven, chain-driven.
- Based on shift type, the automotive transfer case market is segmented into manual shift on the fly (MOSF), electronic shift on the fly (ESOF).
- On the basis of casing material, the automotive transfer case market is segmented into cast iron, cast aluminum.
- Based on vehicle type, the automotive transfer case market is segmented into passenger vehicles, low commercial vehicles, heavy commercial vehicles, buses & trucks, off-road vehicles.
- Based on distribution channel, the automotive transfer case market is segmented into OEMs, after-market.
Regional Insights: Asia-Pacific is expected to dominate the Automotive Transfer Case Market
Asia-Pacific is expected to dominate the market and is expected to grow significantly owing to the increasing demand for sports utility vehicles (SUV) in this region. Furthermore, increasing automobile manufacture and high market share of passenger vehicles in the overall manufacturing of vehicles will further increase the growth of the market in this region.
- In addition, the North America region is likely to register highest growth rate during the forecast period of 2022 to 2029 because of high presence of four-wheel-drive vehicles and all-wheel-drive in this region. Moreover, increase in automotive sales due to increasing expenditures on commercial and upcoming passenger vehicles will further drive the market growth in this region
To know more about the study visit, https://www.databridgemarketresearch.com/ar/reports/global-automotive-transfer-case-market
The Prominent Key Players Operating in the Automotive Transfer Case Market Include:
- Magna International Inc. (Canada)
- GKN plc (U.K.)
- BorgWarner Inc. (U.S.)
- American Axle & Manufacturing Inc. (U.S.)
- Aisin (Japan)
- Meritor Inc., (U.S.)
- Marmon Holdings, Inc.(U.S.)
- Schaeffler India Limited (India)
- Dana Limited (U.S.)
- ZF Friedrichshafen AG (Germany)
- Jtekt Corporation (Japan)
- Hyundai Dymos Inc. (South Korea)
- Fabco Automotive Corporation (U.S.)
- Univance Corporation (Japan)
Above are the key players covered in the report, to know about more and exhaustive list Automotive Transfer Case Market companies contact, https://www.databridgemarketresearch.com/ar/reports/global-automotive-transfer-case-market
Research Methodology: Global Automotive Transfer Case Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
