A vehicle with all-wheel drive (AWD) has a centre, rear, and front differential that distributes power to all four wheels. This implies that the power of the car is distributed evenly among all four wheels, improving traction and safety regardless of the type of ground and driving style. Many high-end and quick vehicles, including crossovers and SUVs, feature it. The main factors predicted to fuel the expansion of the market under research over the forecast period are the innovations and improvements made to the all-wheel-drive system and its penetration into the emerging market for electric cars.
According to MRFR analysis, the global All-Wheel Drive Market is expected to register a CAGR of ~7.83% from 2022 to 2030 and hold a value of over USD 42.10 Billion by 2030.
Regional Analysis
North America would continue to be the world's dominant market for all-wheel drive. Factors such as the increased usage of AWD vehicles in forestry, agriculture, and different terrains boost the region's all-wheel drive market size. Furthermore, the desire for vehicle stability and torque distribution fuels the demand for all-wheel drive vehicles.
Europe will be the second-largest market for all-wheel drives. The area is a significant market for high-end autonomous cars. Furthermore, factors such as the EU's newly unveiled regulation standards for car emissions and the need for low-emission automobiles fuel the region's demand for all-wheel drive systems. Rising AWD vehicle sales and the automotive industry's ongoing growth assist the regional market in gaining the largest market share.
Asia Pacific is a developing market for all-wheel drive vehicles. Rising luxury car manufacturing and sales have an impact on regional market growth. Furthermore, the region's well-established car sector presents significant prospects for the all-wheel drive business. Following the path of rapid technological improvement.
Market Segmentation
The Global All-Wheel Drive market has been segmented into type, propulsion, application, and vehicle type.
Based on the type, the market has been segmented into manual AWD and automatic AWD.
Based on the propulsion, the market has been segmented into ICE vehicles and electric.
Based on the application, the market has been segmented into on-road and off-road.
Based on the vehicle type, the market has been segmented into passenger vehicles and commercial vehicles.
Key Players
Some of the key market players are GKN PLC, American Axle Manufacturing Inc, Magna International Inc, BorgWarner Inc., ZF Friedrichshafen AG, Continental AG, Dana Limited, JTEKT Corporation, Oerlikon, and Eaton.
More Related Report:
