Global Automotive Four-wheel Drive Vehicle Market 2017-2021
About Automotive Four-wheel Drive Vehicle
An automotive 4WD system is typically used in off-road vehicles and involves the distribution of power and torque to all the four wheels. The system may be fitted as a full-time or an on-demand functionality. This distribution of power to all the four wheels helps in attaining better driving characteristics in low-traction conditions. 4WD is a standard component in most pickup trucks, SUVs, and crossovers. The history of automotive 4WD technology dates to the inception of automobiles. The earliest evidence of the four-wheel design was found in the late 1890s when an English engineer patented the technology for traction engines.
Technavio’s analysts forecast the global automotive four-wheel drive vehicle market to grow at a CAGR of 11.34% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive four-wheel drive vehicle market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Four-wheel Drive Vehicle Market 2017-2021
Technavio recognizes the following companies as the key players in the global automotive four-wheel drive vehicle market: BorgWarner, GKN, Linamar, Magna, and ZF Friedrichshafen.
Other Prominent Vendors in the market are: American Axle & Manufacturing, Dana, Hitachi Automotive Systems, and JTEKT.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is development of intelligent torque vectoring for AWD. The advent of technological innovations is enabling the integration of advanced systems in automotive 4WD. Torque vectoring is one such system that helps the vehicle have control over the power and torque distribution to individual wheels. This provides better vehicle stability, improved performance, and superior handling characteristics.”
According to the report, one driver in the market is booming global SUV market with growing volume sales. In 2016, sales in the global automotive industry skyrocketed in almost every class of vehicles. Of all the vehicle categories and segments, SUVs and crossovers exhibited the highest sales growth. Pickup trucks also form one of the fastest growing segments with their growing popularity and increased usage for personal purposes. In the US, the sales of SUVs and crossovers increased by about 10% in the overall passenger car market in 2015.
Further, the report states that one challenge in the market is advanced 4WD increasing the overall vehicle cost. The automotive 4WD system involves the use of advanced materials, parts, and components for its development and manufacturing. The basic setup involves differentials, transfer case, rear-drive shaft, rear axle, and advanced electronics. The other important components, such as the torque vectoring system and limited-slip differentials, are some of the advanced functionalities that are used in premium and luxury segment of SUVs and sedans.
BorgWarner, GKN, Linamar, Magna, ZF Friedrichshafen, American Axle & Manufacturing, Dana, Hitachi Automotive Systems, and JTEKT.