AWD Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
- Transparency Market Research
In an all-wheel drive (AWD) system, the engine power is distributed to all the four wheels simultaneously. In an AWD, all wheels transmit power and need to rotate at different speeds. Since all four wheels of the vehicle transmit power, the AWD vehicle is also known as a four-by-four vehicle. If the all-wheel drive system is to be used as a four wheel drive, the engine power gets transferred equally to all the four wheels. If required, an AWD system can also be utilized as a two-wheel drive by transferring the power of the engine to only two wheels of the vehicle, while the other two wheels of the vehicle are allowed to spin.
AWD systems offer certain advantages over other types of drive systems such as improved traction and better control over the vehicle. Extreme climatic conditions in some regions of the world are anticipated to further fuel the AWD systems market in the next few years, since AWD systems operate well in all sorts of environmental conditions. Increasing demand for high performance vehicles such as sports vehicles is expected to propel the AWD systems market in the near future.
Demand of consumer for the off-road vehicle is increasing for various activities such as tourism, trekking, and off-road application. Increase in the per capita income and improved infrastructure is further expected to boost the AWD systems market in the near future. Rising public demand for luxurious and more comfortable vehicles is anticipated to fuel the AWD systems market during the forecast period.
An AWD vehicle is comparatively expensive than vehicles with other types of drive systems. This is primarily attributed to the high cost of the drive train, sensors, and computers required for the operation of the AWD system. This high cost of AWD system is anticipated to restrain the growth of the AWD systems market to some extent during the forecast period.
The global AWD Systems Market can be segmented based on vehicle, electric vehicle, type, mode of operation, and region. In terms of vehicle, the AWD systems market can be segmented into passenger vehicles and commercial vehicles. The passenger vehicles segment is expected to expand at a rapid pace during the forecast period owing to the increased production of passenger vehicles.
Based on electric vehicles, the AWD systems market can be divided into battery electric vehicle (BEV), plug-in electric vehicle (PEV), and hybrid electric vehicle (HEV). The battery electric vehicle (BEV) segment is anticipated to expand at a rapid pace owing to the comparatively high cost of the hybrid electric vehicles and the increasing consumer preference towards the use of BEVs, which are fully electric vehicles over HEV and PEV with a view to improve the environmental footprint.
Based on type, the AWD systems market can be divided into electric AWD system, mechanical AWD system and hybrid AWD system. The mechanical AWD system segment is anticipated to hold a major share of the AWD systems market during the forecast period owing to the rising consumer preference for vehicles with mechanical AWD systems in recent years. Electric AWD system is a recently emerging technology and is likely to need some time to be preferred by consumers across the world.
Based on mode of operation, the AWD systems market can be classified as manual AWD system and automatic AWD system. The automatic AWD system segment is anticipated to expand at a rapid pace during the forecast period, since the automatic AWD system automatically changes to rear or front-wheel drive based on the vehicle’s requirement. Thus, vehicles with automatic AWD systems can be used under all road conditions.
Based on geographical region, the AWD systems market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe are anticipated to lead the AWD systems market during the forecast period owing to the increasing demand for sports vehicles and AWD systems in these regions.
Key players operating in the global AWD system market include American Axle and Manufacturing Inc., Borg Warner Inc., Eaton, Continental AG, ZF Friedrichshafen AG, GKN Driveline, and JTEKT Corporation.
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