About automotive multi-wheel drive
The global automotive industry is focusing on the usage of technologically advanced drivetrain and safety systems to minimize accidents and mitigate the impact of accidents on both passengers and pedestrians. Subsequently, to ensure enhanced control and stability of the vehicle, OEMs developed multi-wheel drive systems to achieve the aforementioned objectives.
A drivetrain is a group of components that delivers power to the driving wheels. 4WD and AWD are the systems used in vehicles to allow four or all wheels of a vehicle to receive necessary torque from the engine. The AWD system has a differential, whereas the 4WD system does not have it.
The growing demand for SUVs, especially in the emerging markets such as Mexico, India, and China, is booting the growth of the market. Also, the acceptance of AWD systems in hybrid EVs and the growing awareness among consumers regarding the active safety features are propelling the growth of the market.
Technavio's analysts forecast the global automotive multi-wheel drive market to grow at a CAGR of 6.52% during 2014-2019.
Covered in this report
The global automotive multi-wheel drive market can be segmented into two divisions on the basis of wheel drive type: All-wheel drive (AWD) and four-wheel drive (4WD). In addition, the market can also be segmented into two divisions on the basis of transmission type: manual multi-wheel drive (manual MWD) and automatic multi-wheel drive (automatic MWD).
Technavio's report, Global Automotive Multi-wheel Drive Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Automotive Multi-wheel Drive Systems Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Automotive Multi-wheel Drive Systems Market: BorgWarner, Continental, JTEKT, Magna International and ZF Friedrichshafen
Other Prominent Vendors in the market are: American Axle Manufacturing, Dana Holding, GKN (GKN Driveline) and Oerlikon AG (Oerlikon Fairfield)
Commenting on the report, an analyst from Technavio’s team said: “The various benefits offered by hybrid EVs such as reduced carbon emissions, better fuel efficiency, reduced dependence on natural resources for fuel, and better performance have increased their adoption in the recent years. As a result, the automotive MWD system manufacturers are focusing and launching new MWD systems such as AWD, especially for hybrid EVs.”
According to the report, with sluggish demand for automobiles in mature markets such as North America and Europe, automobile manufacturers are now shifting their focus toward expanding in emerging countries such as India, China, Mexico, Russia, and Brazil. The demand for SUVs and mini SUVs equipped with MWD systems is steadily increasing. For instance, in the automotive market in China, SUVs are the fastest-growing vehicle segment, owing to the growing demand for these vehicles among the emerging middle class, because of the increasing disposable income.
Further, the report states that the cost of automobiles equipped with AWD and 4WD systems is high compared to the automobiles equipped with two-wheel drive (2WD).
BorgWarner, Continental, JTEKT, Magna International, ZF Friedrichshafen, American Axle Manufacturing, Dana Holding, GKN (GKN Driveline), Oerlikon AG (Oerlikon Fairfield)