Global Four Wheel Drive Vehicle market 2015-2019
Global four wheel drive vehicle market outlook
Technavios market research analysts estimate four wheel drive (4WD) vehicle shipments to cross over 7 million, in terms of unit sales by 2019. The rising demand for sports utility vehicles (SUVs) fitted with MWD propels the growth of this market.
In the automotive market in China, SUVs are the fastest-growing vehicle segment. The growing demand for these vehicles among the emerging middle class drives the demand for 4WDs. As per this forecast, the market is predicted to witness increased adoption of 4WDs in hybrid vehicles until 2019. For instance, GKN Automotive is designing and developing advanced drivetrain technologies to support hybrid electric vehicles (EVs).
Issues concerning four wheel drive
Vehicles equipped with 4WDs are susceptible to high maintenance costs. The vehicle provides lower mileage compared to vehicles fitted with 2WD systems.
The utility of a 4WD vehicle is best realized when driven on rugged terrains. But their tires and brakes wear out quickly and therefore it necessitates periodic changes of differential fluids. If these vehicles are constantly driven in rough conditions, the span between general maintenance is further shortened.
In the current price-sensitive market, customers look for vehicles that give them maximum value for money. Hence, it has become difficult for manufacturers to shift this cost pressure onto customers. As per this market forecast, manufacturers are predicted to keep their margins low through 2019.
Market segmentation by vehicle type
The growth of the global standard 4WD vehicle market is expected to be fueled by the steady growth of the global light vehicle market. The steady demand of light vehicles in emerging economies is expected to account for over 60% of the overall automobile sales by 2019.
Market segmentation of 4WDs by geography
The global 4WD vehicle market is well diversified across all geographies, with the Americas holding the major share of the market currently. The market in the Americas is mainly based in core markets such as the US, Brazil, and Canada. The Americas ids followed by the APAC.
Leading vendor analysis of the global 4WD market
The global 4WD vehicle market is dominated by several international players that are expanding their footprint in developing nations of the APAC region. During the forecast period, market vendors are anticipated to increase their focus on matching stringent fuel efficiency standards. The other prominent vendors of this market include Audi, Chevrolet, FIAT, HONDA, Nissan, PSA, Skoda, TATA, Toyota, and Volkswagen.
Key questions answered in the report
What are the key factors driving the global 4WD market
What are the key market trends impacting the growth of the global 4WD market
What are the various opportunities and threats faced by the vendors in the global 4WD market
Trending factors influencing the market shares for the global 4WD market
Market shares for APAC, Americas, and Europe
Key outcome of the five forces analysis on the global 4WD market
Growth forecast of the global 4WD market
Technavio also offers customization on reports based on specific client requirement.
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Technavio Announces the Publication of its Research Report – Global Four Wheel Drive Vehicle Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Four Wheel Drive Vehicle Market: BMW, Dacia, Daimler, GM, Hyundai, Land Rover and Volvo
Other Prominent Vendors in the market are: Audi, Chevrolet, FIAT, HONDA, Nissan, PSA, Skoda, TATA, Toyota, and Volkswagen.
Commenting on the report, an analyst from Technavio’s team said: “The various benefits offered by HEVs 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 4WD system manufacturers are focusing and launching new 4WD systems, especially for HEVs.”
According to the report, 4WD vehicles offer the advantages of both FWD and RWD. One of the primary benefits offered by 4WD is the better traction performance in both severe weather conditions and on dry road surfaces. As a result, vehicles equipped with 4WD attract both performance-driven consumers as well as those who have specific requirements in unfavorable conditions. 4WD vehicles have excellent balancing, handling, and driving dynamics capabilities.
Further, the report states that the strengthening of fuel efficiency standards across the globe is a major challenge in the global 4WD vehicle market as these vehicles run fewer miles per gallon than other vehicles.
BMW, Dacia, Daimler, GM, Hyundai, Land Rover, Volvo, Audi, Chevrolet, FIAT, HONDA, Nissan, PSA, Skoda, TATA, Toyota, and Volkswagen.
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