Automotive Differential Market by Type (Open, Locking, Limited Slip, Electronic Limited Slip, Torque-Vectoring), Drive Type (FWD, RWD, 4WD/AWD), OE Component, On- & Off-Highway Vehicle, Electric Vehicle, Aftermarket & Region - Global Forecast to 2027
Automotive Differential Market by Type (Open, Locking, Limited Slip, Electronic Limited Slip, Torque-Vectoring), Drive Type (FWD, RWD, 4WD/AWD), OE Component, On- & Off-Highway Vehicle, Electric Vehicle, Aftermarket & Region - Global Forecast to 2027
Abstract
The automotive differential market is projected to grow from USD 20.0 billion in 2022 to USD 23.7 billion in 2027 at a CAGR of 3.5%. The factors attributed to the growth of automotive differential are increasing demand for premium vehicles with sophisticated comfort features and excellent driving dynamics offered with RWD and 4WD/AWD options, growing heavy trucks, and multi-axle buses & coaches for intercity travel with different travel experiences.
Improving economic conditions and growing requirements of ultimate performance and comfort features primarily drive AWD/4WD systems installation in the premium segment cars and SUVs. These factors would consequently influence the market for multi-wheel drive systems, which would drive the demand for the automotive differential. Additionally, strong demand and upcoming new model launches for plug-in hybrid sedans and SUVs in China, Japan, and European and North American countries are expected to accelerate the differential market growth for the electric and hybrid vehicle segment.
"Passenger cars is the largest market for automotive differentials."
Passenger cars registered the largest market share in the global automotive differential market owing to the rising production of passenger cars in developing countries such as India, China, and Thailand. Further, a drastic preference shift is noted for bigger cars, with doubled SUVs share over the past few years. According to IEA, the number of SUVs on the world’s roads increased by more than 35 million in 2021. According to MarketsandMarkets Analysis, of total premium cars produced globally, the share of premium SUVs stood at ~53% in 2016, which grew to ~62% in 2021. US, Canada, China, Japan, and South Korea lead the market for premium SUVs and sedan cars, constituting more than 90% of total production globally.
Further, almost half of all cars sold in the US and one-third of those sold in Europe are SUVs. Furthermore, with consumers shifting their inclination towards bigger cars with basic and advanced comfort and luxury functionalities, global OEMs are expanding their SUVs and medium and premium cars with either RWD or 4WD/AWD systems. In line with this, the demand for open differential and advanced differentials market would also grow for the passenger cars segment.
"Open Differential hold the largest share in the automotive differential market."
Open differential is the simplest form of differential which transmits the equal torque to each wheel of the two wheels. Most of the passenger cars are front wheel drives installed with open differential due to lower price amongst other types, less energy loss, and less gear configuration used in differential. Asia Pacific holds the largest market share for open differential due to the higher production of passenger cars in this region. Almost 60-65% passenger cars are equipped with open differential type. and it also have wide application in commercial truck and light commercial vehicle. Thus, rise in demand for passenger cars and commercial trucks will create demand for open differentials.
“Differential seals hold the largest share in the automotive differential component aftermarket.
The differential seals are located at the output shafts of a vehicle’s differential. They usually seal the axle shafts against the differential and prevent fluid from leaking out of the differential as it operates. Differential seals have maximum and frequent chances of wearing out as compared to other components of a differential system; hence it requires replacement over fixed time intervals. Using damaged seals in the differential may lead to considerable damage to gears, axles, and other differential components owing to oil leakage. It may further damage whole differential assembly. Thus, the high number of seals in differentials and replacement over fixed time intervals creates the demand for differential seals in the aftermarket.
North America is estimated to be the second-largest market for automotive differential
North America accounted to be the second-largest market for automotive differentials. The region has a higher demand for passenger vehicles, particularly premium cars (C segment and above). These premium cars are installed with advanced safety, driving features, and AWD/4WD drive systems. With increasing premium car sales, the region's demand for automotive differentials is expected to grow. The demand for light trucks and vans has witnessed rapid growth in the North American region. Also, there is an increase in demand for second vehicle ownership in the US.
It has been observed that most of the second preferred vehicles in the US are light trucks, which are mostly RWD, or 4WD/AWD installed with limited slip differential, ELSD, and Torque vectoring differentials. Lexus, Porche, Toyota, and Audi are offering models installed with advanced differentials. Also, few commercial vehicle manufacturers such as Volvo VNX 300, VNX 400, and VNX 740 are offering heavy trucks and tippers with 4x4, 4x6, etc. configurations. Further, increasing industrialization, growing logistic business and e-commerce industry has created the huge demand for trucks production and sales in the US will subsequently create the demand for automotive differential. In addition to this, hybrid vehicle has also seen a considerable adoption rate in North America. All these factors are expected to drive the market of differentials in the North American region.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and strategy directors, and executives from various key organizations operating in this market.
•By Company Type: OEMs –10%, and Tier 1 – 90%
•By Designation: C Level Executives - 15%, Directors - 35%, and Others – 50%
•By Region: Asia Pacific - 50%, Europe – 10%, North America – 30%, and RoW- 10%
GKN Driveline (UK), Eaton Plc (Ireland), American Axle & Manufacturing Company (US), Dana Inc. (US), BorgWarner Inc. (US), Linamar Corporation (Canada), Schaeffler AG (Germany), JTEKT Corporation (Japan), ZF (Germany), Hyundai Wia Corporation (South Korea) are the leading supplier of automotive differential in the global market.
Research Coverage:
The automotive differential market is segmented on differential Type (ICE) (open, locking, limited slip, electronic limited slip, and torque-vectoring differential), drive type (front-wheel drive, rear-wheel drive, and all-wheel drive/4-wheel drive), OE component market (pinion gear, differential housing, side gear, ring gear, and differential bearings), aftermarket by component (differential bearings, differential gears, differential gaskets, and differential seals), electric & hybrid differential by EV type (PHEV, and FCEV), electric & hybrid differential market by differential type (open, locking, limited slip, electronic limited slip, and torque-vectoring differential), off-highway differential by equipment type (agricultural tractors, and forklifts) and region (Asia Pacific, Europe, North America, and ROW).
The study also includes an in-depth competitive analysis of the major automotive differential manufacturers in the market, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders in this market with information on the closest approximations of the revenue numbers for the overall automotive differential market and the sub-segments. This report will help differential component manufacturers to understand the OE and aftermarket demand of components. This report would also help stakeholders to understand the fastest growing and largest market for automotive differential at regional and global level. The report helps stakeholders to understand the opportunities in differential OE and aftermarket of components based on the replacement life. This report will help stakeholders to understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the market's pulse and provides information on key market drivers, restraints, challenges, and opportunities.
Content
Table of Contents
1INTRODUCTION42
1.1STUDY OBJECTIVES42
1.2MARKET DEFINITION44
1.3INCLUSIONS & EXCLUSIONS45
TABLE 1AUTOMOTIVE DIFFERENTIAL MARKET: INCLUSIONS & EXCLUSIONS45
1.4MARKET SCOPE46
1.4.1MARKETS COVERED46
FIGURE 1AUTOMOTIVE DIFFERENTIAL MARKET SEGMENTATION46
1.4.2YEARS CONSIDERED47
1.5CURRENCY CONSIDERED47
1.6SUMMARY OF CHANGES47
1.7LIMITATIONS48
1.8STAKEHOLDERS48
2RESEARCH METHODOLOGY49
2.1RESEARCH DATA49
FIGURE 2RESEARCH DESIGN – AUTOMOTIVE DIFFERENTIAL MARKET49
FIGURE 3RESEARCH METHODOLOGY MODEL50
2.1.1SECONDARY DATA50
2.1.1.1Key secondary sources for vehicle production and electric vehicle sales50
2.1.1.2Key secondary sources for market sizing51
2.1.1.3Key data from secondary sources52
2.1.2PRIMARY DATA52
FIGURE 4BREAKDOWN OF PRIMARY INTERVIEWS53
2.1.2.1Sampling techniques & data collection methods53
2.1.2.2Primary participants54
2.2MARKET SIZE ESTIMATION54
FIGURE 5RESEARCH METHODOLOGY: HYPOTHESIS BUILDING55
2.2.1BOTTOM-UP APPROACH56
FIGURE 6AUTOMOTIVE DIFFERENTIAL MARKET: BOTTOM-UP APPROACH56
2.2.2FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDES57
2.3MARKET BREAKDOWN & DATA TRIANGULATION58
2.4FACTOR ANALYSIS59
2.5ASSUMPTIONS AND ASSOCIATED RISKS60
2.5.1RESEARCH ASSUMPTIONS60
2.5.2MARKET ASSUMPTIONS61
TABLE 2ASSUMPTIONS, ASSOCIATED RISKS, AND IMPACT61
2.6LIMITATIONS63
3EXECUTIVE SUMMARY64
FIGURE 7AUTOMOTIVE DIFFERENTIAL MARKET: MARKET OUTLOOK64
FIGURE 8AUTOMOTIVE DIFFERENTIAL MARKET, BY REGION, 2022 VS. 2027 (USD MILLION)65
4PREMIUM INSIGHTS67
4.1ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN AUTOMOTIVE DIFFERENTIAL MARKET67
FIGURE 9INCREASE IN DEMAND FOR SUV AND LUXURY VEHICLES TO DRIVE AUTOMOTIVE DIFFERENTIAL MARKET67
4.2AUTOMOTIVE DIFFERENTIAL MARKET, BY REGION (ICE)68
FIGURE 10ASIA PACIFIC TO DOMINATE AUTOMOTIVE DIFFERENTIAL MARKET68
4.3AUTOMOTIVE DIFFERENTIAL MARKET, BY DIFFERENTIAL TYPE (ICE)68
FIGURE 11OPEN DIFFERENTIALS SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE68
4.4AUTOMOTIVE DIFFERENTIAL MARKET, BY DRIVE TYPE (ICE)69
FIGURE 12AWD/4WD DRIVE SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD69
4.5AUTOMOTIVE DIFFERENTIAL MARKET, BY VEHICLE TYPE (ICE)69
FIGURE 13PASSENGER CARS SEGMENT TO DOMINATE DURING FORECAST PERIOD69
4.6ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY VEHICLE TYPE70
FIGURE 14PHEV SEGMENT TO BE LARGEST MARKET70
4.7ELECTRIC & HYBRID DIFFERENTIAL MARKET, BY DIFFERENTIAL TYPE70
FIGURE 15ELSD SEGMENT TO RECORD HIGHEST CAGR DURING FORECAST PERIOD70
4.8AUTOMOTIVE DIFFERENTIAL OE MARKET, BY COMPONENT (ICE)71
FIGURE 16PINION GEARS SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD71
4.9AUTOMOTIVE DIFFERENTIAL AFTERMARKET, BY COMPONENT (ICE)71
FIGURE 17DIFFERENTIAL BEARINGS TO DOMINATE MARKET DURING FORECAST PERIOD71
4.10AGRICULTURAL TRACTORS DIFFERENTIAL MARKET, BY DRIVE TYPE (ICE)72
FIGURE 182WD DRIVE TRACTORS TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD72
4.11OFF-HIGHWAY DIFFERENTIAL MARKET, BY EQUIPMENT TYPE (ICE)72
FIGURE 19AGRICULTURAL TRACTORS TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD72
4.12AUTOMOTIVE DIFFERENTIAL MARKET, BY REGION (ICE)73
FIGURE 20ASIA PACIFIC TO LEAD MARKET DURING FORECAST PERIOD73
5MARKET OVERVIEW74
5.1INTRODUCTION74
5.2MARKET DYNAMICS75
FIGURE 21AUTOMOTIVE DIFFERENTIAL MARKET: MARKET DYNAMICS75
5.2.1DRIVERS75
5.2.1.1Rising demand for commercial and heavy-duty vehicles75
FIGURE 22HEAVY TRUCKS PRODUCTION, 2018–2021 (UNITS)76
5.2.1.2Increased investment in infrastructure to boost demand for construction & mining equipment76
FIGURE 23CONSTRUCTION EQUIPMENT SALES, 2018–2025 (UNITS)77
FIGURE 24MINING EQUIPMENT SALES, 2018–2025 (UNITS)77
5.2.1.3Growing penetration of all-wheel drive (AWD) and four-wheel drive (4WD) vehicles77
FIGURE 25LCV: DRIVETRAIN INSTALLATION RATE (BY DRIVE TYPE), 2014–202178
FIGURE 26HCV: DRIVETRAIN INSTALLATION RATE (BY DRIVE TYPE), 2014–202178
5.2.1.4Rising preference for luxury vehicles and SUVs78
TABLE 3KEY OEMS OFFERING SUVS WITH AWD & 4WD SYSTEMS79
5.2.2RESTRAINTS80
5.2.2.1Growing demand for electric passenger and commercial vehicles80
5.2.3OPPORTUNITIES80
5.2.3.1Advancements in differential technology80
5.2.4CHALLENGES81
5.2.4.1Presence of local and regional suppliers81
5.3TRENDS/DISRUPTIONS IMPACTING BUYERS81
FIGURE 27TRENDS/DISRUPTIONS IMPACTING BUYERS81
5.4AUTOMOTIVE DIFFERENTIAL MARKET SCENARIO82
FIGURE 28AUTOMOTIVE DIFFERENTIAL MARKET SCENARIO, 2018–2027 (USD MILLION)82
5.4.1REALISTIC SCENARIO82
TABLE 4AUTOMOTIVE DIFFERENTIAL MARKET (REALISTIC SCENARIO), BY REGION, 2018–2027 (USD MILLION)82
5.4.2LOW IMPACT SCENARIO83
TABLE 5AUTOMOTIVE DIFFERENTIAL MARKET (LOW IMPACT SCENARIO), BY REGION, 2018–2027 (USD MILLION)83
5.4.3HIGH IMPACT SCENARIO83
TABLE 6AUTOMOTIVE DIFFERENTIAL MARKET (HIGH IMPACT SCENARIO), BY REGION, 2018–2027 (USD MILLION)83
5.5PORTER'S FIVE FORCES ANALYSIS84
FIGURE 29PORTER'S FIVE FORCES ANALYSIS: ESTABLISHED GLOBAL PLAYERS INCREASE COMPETITION84
5.5.1PORTER'S FIVE FORCES ANALYSIS84
5.5.2THREAT OF SUBSTITUTES85
5.5.3THREAT OF NEW ENTRANTS85
5.5.4BARGAINING POWER OF BUYERS85
5.5.5BARGAINING POWER OF SUPPLIERS85
5.5.6INTENSITY OF COMPETITIVE RIVALRY85
5.6AUTOMOTIVE DIFFERENTIAL ECOSYSTEM86
FIGURE 30AUTOMOTIVE DIFFERENTIAL MARKET ECOSYSTEM86
TABLE 7AUTOMOTIVE DIFFERENTIAL MARKET: ROLE OF COMPANIES IN ECOSYSTEM87
5.7SUPPLY CHAIN ANALYSIS88
FIGURE 31SUPPLY CHAIN ANALYSIS: AUTOMOTIVE DIFFERENTIAL MARKET88
5.8PRICING ANALYSIS89
5.8.1BY TYPE AND REGION (USD/UNIT), 202189
5.9CASE STUDY ANALYSIS90
5.9.1GKN AUTOMOTIVE AND PORSCHE ENGINEERING DEVELOP NEW METAL AM FOR E-DRIVE APPLICATION90
5.9.2GKN AUTOMOTIVE AND ROMAX CONSULTING DESIGN HIGH-EFFICIENCY E-DRIVE SYSTEM90
5.10IMPORT & EXPORT DATA91
5.10.1IMPORT DATA91
5.10.1.1US91
TABLE 8US: DIFFERENTIAL IMPORTS SHARE, BY COUNTRY (VALUE %)91
5.10.1.2Mexico91
TABLE 9MEXICO: DIFFERENTIAL IMPORTS SHARE, BY COUNTRY (VALUE %)91
5.10.1.3China92
TABLE 10CHINA: DIFFERENTIAL IMPORTS SHARE, BY COUNTRY (VALUE %)92
5.10.1.4Japan92
TABLE 11JAPAN: DIFFERENTIAL IMPORTS SHARE, BY COUNTRY (VALUE %)92
5.10.1.5India93
TABLE 12INDIA: DIFFERENTIAL IMPORTS SHARE, BY COUNTRY (VALUE %)93
5.10.1.6Germany93
TABLE 13GERMANY: DIFFERENTIAL IMPORTS SHARE, BY COUNTRY (VALUE %)93
5.10.1.7France94
TABLE 14FRANCE: DIFFERENTIAL IMPORTS SHARE, BY COUNTRY (VALUE %)94
5.10.1.8Spain94
TABLE 15SPAIN: DIFFERENTIAL IMPORTS SHARE, BY COUNTRY (VALUE %)94
5.10.2EXPORT DATA95
5.10.2.1US95
TABLE 16US: DIFFERENTIAL EXPORTS SHARE, BY COUNTRY (VALUE %)95
5.10.2.2Mexico95
TABLE 17MEXICO: DIFFERENTIAL EXPORTS SHARE, BY COUNTRY (VALUE %)95
5.10.2.3China95
TABLE 18CHINA: DIFFERENTIAL EXPORTS SHARE, BY COUNTRY (VALUE %)95
5.10.2.4Japan96
TABLE 19JAPAN: DIFFERENTIAL EXPORTS SHARE, BY COUNTRY (VALUE %)96
5.10.2.5India96
TABLE 20INDIA: DIFFERENTIAL EXPORTS SHARE, BY COUNTRY (VALUE %)96
5.10.2.6Germany97
TABLE 21GERMANY: DIFFERENTIAL EXPORTS SHARE, BY COUNTRY (VALUE %)97
5.10.2.7France97
TABLE 22FRANCE: DIFFERENTIAL EXPORTS SHARE, BY COUNTRY (VALUE %)97
5.10.2.8Spain98
TABLE 23SPAIN: DIFFERENTIAL EXPORTS SHARE, BY COUNTRY (VALUE %)98
5.11KEY CONFERENCES AND EVENTS, 2022–202398
5.11.1AUTOMOTIVE DIFFERENTIAL MARKET: UPCOMING CONFERENCES AND EVENTS98
5.12PATENT ANALYSIS99
5.12.1APPLICATIONS AND PATENTS GRANTED, 2019–202299
5.13BUYING CRITERIA101
FIGURE 32KEY BUYING CRITERIA FOR ICE AND ELECTRIC & HYBRID VEHICLES101
TABLE 24KEY BUYING CRITERIA FOR ICE AND ELECTRIC & HYBRID VEHICLES101
5.14REGULATORY ANALYSIS102
TABLE 25DIFFERENTIAL/4WD/AWD REGULATIONS, BY REGION102
5.14.1EMISSION REGULATIONS104
5.14.1.1On-road vehicles104
TABLE 26EURO-5 VS. EURO-6 VEHICLE EMISSION STANDARDS FOR NEW EUROPEAN DRIVING CYCLE104
TABLE 27ON-ROAD VEHICLE EMISSION REGULATION OUTLOOK FOR PASSENGER CARS, 2016–2021104
5.15TECHNOLOGY ANALYSIS104
5.15.1DEVELOPMENT OF ELECTRONIC DIFFERENTIALS FOR ELECTRIC VEHICLES104
5.15.2DEVELOPMENT OF ELECTRONICALLY ACTIVATED CLUTCHES TO COMPRESS PLATES AND LOCK DIFFERENTIAL105
6AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY DIFFERENTIAL TYPE106
6.1INTRODUCTION107
6.1.1RESEARCH METHODOLOGY107
6.1.2ASSUMPTIONS108
6.1.3INDUSTRY INSIGHTS: ICE VEHICLES, BY DIFFERENTIAL TYPE108
FIGURE 33AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY DIFFERENTIAL TYPE, 2022 VS. 2027 (USD MILLION)108
TABLE 28AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY DIFFERENTIAL TYPE, 2018–2021 (‘000 UNITS)109
TABLE 29AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY DIFFERENTIAL TYPE, 2022–2027 (‘000 UNITS)109
TABLE 30AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY DIFFERENTIAL TYPE, 2018–2021 (USD MILLION)109
TABLE 31AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY DIFFERENTIAL TYPE, 2022–2027 (USD MILLION)110
6.2ELECTRONIC LIMITED SLIP DIFFERENTIALS110
TABLE 32ELSD MARKET, BY REGION, 2018–2021 (‘000 UNITS)110
TABLE 33ELSD MARKET, BY REGION, 2022–2027 (‘000 UNITS)111
TABLE 34ELSD MARKET, BY REGION, 2018–2021 (MILLION USD)111
TABLE 35ELSD MARKET, BY REGION, 2022–2027 (MILLION USD)111
6.3LOCKING DIFFERENTIALS112
TABLE 36LOCKING DIFFERENTIALS MARKET, BY REGION, 2018–2021 (‘000 UNITS)112
TABLE 37LOCKING DIFFERENTIALS MARKET, BY REGION, 2022–2027 (‘000 UNITS)112
TABLE 38LOCKING DIFFERENTIALS MARKET, BY REGION, 2018–2021 (USD MILLION)112
TABLE 39LOCKING DIFFERENTIALS MARKET, BY REGION, 2022–2027 (USD MILLION)113
6.4LIMITED SLIP DIFFERENTIALS113
TABLE 40LIMITED SLIP DIFFERENTIALS MARKET, BY REGION, 2018–2021 (‘000 UNITS)113
TABLE 41LIMITED SLIP DIFFERENTIALS MARKET, BY REGION, 2022–2027 (‘000 UNITS)114
TABLE 42LIMITED SLIP DIFFERENTIALS MARKET, BY REGION, 2018–2021 (USD MILLION)114
TABLE 43LIMITED SLIP DIFFERENTIALS MARKET, BY REGION, 2022–2027 (USD MILLION)114
6.5OPEN DIFFERENTIALS115
TABLE 44OPEN DIFFERENTIALS MARKET, BY REGION, 2018–2021 (‘000 UNITS)115
TABLE 45OPEN DIFFERENTIALS MARKET, BY REGION, 2022–2027 (‘000 UNITS)115
TABLE 46OPEN DIFFERENTIALS MARKET, BY REGION, 2018–2021 (USD MILLION)116
TABLE 47OPEN DIFFERENTIALS MARKET, BY REGION, 2022–2027 (USD MILLION)116
6.6TORQUE VECTORING DIFFERENTIALS116
TABLE 48TORQUE VECTORING DIFFERENTIALS MARKET, BY REGION, 2018–2021 (‘000 UNITS)117
TABLE 49TORQUE VECTORING DIFFERENTIALS MARKET, BY REGION, 2022–2027 (‘000 UNITS)117
TABLE 50TORQUE VECTORING DIFFERENTIALS MARKET, BY REGION, 2018–2021 (USD MILLION)117
TABLE 51TORQUE VECTORING DIFFERENTIALS MARKET, BY REGION, 2022–2027 (USD MILLION)118
7AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY DRIVE TYPE119
7.1INTRODUCTION120
7.1.1RESEARCH METHODOLOGY120
7.1.2ASSUMPTIONS121
7.1.3INDUSTRY INSIGHTS: ICE VEHICLES, BY DRIVE TYPE121
FIGURE 34AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY DRIVE TYPE, 2022 VS. 2027 (USD MILLION)121
TABLE 52AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY DRIVE TYPE, 2018–2021 (‘000 UNITS)121
TABLE 53AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY DRIVE TYPE, 2022–2027 (‘000 UNITS)122
TABLE 54AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY DRIVE TYPE, 2018–2021 (USD MILLION)122
TABLE 55AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY DRIVE TYPE, 2022–2027 (USD MILLION)122
7.2FRONT-WHEEL DRIVE122
TABLE 56FWD: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)123
TABLE 57FWD: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)123
TABLE 58FWD: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (USD MILLION)123
TABLE 59FWD: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (USD MILLION)123
7.3REAR-WHEEL DRIVE124
TABLE 60RWD: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)124
TABLE 61RWD: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)124
TABLE 62RWD: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (USD MILLION)124
TABLE 63RWD: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (USD MILLION)125
7.4ALL-WHEEL DRIVE/FOUR-WHEEL DRIVE (AWD/4WD)125
TABLE 64AWD/4WD: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)125
TABLE 65AWD/4WD: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)126
TABLE 66AWD/4WD: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (USD MILLION)126
TABLE 67AWD/4WD: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (USD MILLION)126
8AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY VEHICLE TYPE127
8.1INTRODUCTION128
8.1.1RESEARCH METHODOLOGY128
8.1.2ASSUMPTIONS129
8.1.3INDUSTRY INSIGHTS: BY VEHICLE TYPE (ICE)129
FIGURE 35AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY VEHICLE TYPE, 2022 VS. 2027 (USD MILLION)129
TABLE 68AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY VEHICLE TYPE, 2018–2021 (‘000 UNITS)130
TABLE 69AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY VEHICLE TYPE, 2022–2027 (‘000 UNITS)130
TABLE 70AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY VEHICLE TYPE, 2018–2021 (USD MILLION)130
TABLE 71AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY VEHICLE TYPE, 2022–2027 (USD MILLION)130
8.2PASSENGER CARS131
TABLE 72PASSENGER CARS MARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)131
TABLE 73PASSENGER CARS MARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)132
TABLE 74PASSENGER CARS MARKET (ICE), 2018–2021 (USD MILLION)132
TABLE 75PASSENGER CARS MARKET (ICE), BY REGION, 2022–2027 (USD MILLION)132
8.3LIGHT COMMERCIAL VEHICLES (LCV)133
TABLE 76LIGHT COMMERCIAL VEHICLES MARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)133
TABLE 77LIGHT COMMERCIAL VEHICLES MARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)133
TABLE 78LIGHT COMMERCIAL VEHICLES MARKET (ICE), BY REGION, 2018–2021 (USD MILLION)134
TABLE 79LIGHT COMMERCIAL VEHICLES MARKET (ICE), BY REGION, 2022–2027 (USD MILLION)134
8.4TRUCKS134
TABLE 80TRUCKS DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)135
TABLE 81TRUCKS DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)135
TABLE 82TRUCKS DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (USD MILLION)135
TABLE 83TRUCKS MARKET (ICE), BY REGION, 2022–2027 (USD MILLION)136
8.5BUSES136
TABLE 84BUSES DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)136
TABLE 85BUSES DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)137
TABLE 86BUSES DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (USD MILLION)137
TABLE 87BUSES DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (USD MILLION)137
9ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY VEHICLE TYPE138
9.1INTRODUCTION139
9.1.1RESEARCH METHODOLOGY139
9.1.2ASSUMPTIONS140
9.1.3INDUSTRY INSIGHTS: ELECTRIC & HYBRID VEHICLES, BY VEHICLE TYPE140
FIGURE 36ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY VEHICLE TYPE, 2022 VS. 2027 (USD MILLION)140
TABLE 88ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY VEHICLE TYPE, 2018–2021 (‘000 UNITS)140
TABLE 89ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY VEHICLE TYPE, 2022–2027 (‘000 UNITS)141
TABLE 90ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)141
TABLE 91ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)141
9.2PLUG-IN HYBRID ELECTRIC VEHICLES (PHEV)141
9.2.1GOVERNMENT SUBSIDIES AND INVESTMENTS IN CHARGING INFRASTRUCTURE TO DRIVE SEGMENT141
TABLE 92PHEV DIFFERENTIAL MARKET, BY REGION, 2018–2021 (‘000 UNITS)142
TABLE 93PHEV DIFFERENTIAL MARKET, BY REGION, 2022–2027 (‘000 UNITS)142
TABLE 94PHEV DIFFERENTIAL MARKET, BY REGION, 2018–2021 (USD MILLION)142
TABLE 95PHEV DIFFERENTIAL MARKET, BY REGION, 2022–2027 (USD MILLION)143
9.3FUEL CELL ELECTRIC VEHICLES (FCEV)143
9.3.1ENVIRONMENT-FRIENDLY PROPERTIES TO DRIVE DEMAND143
TABLE 96FCEV DIFFERENTIAL MARKET, BY REGION, 2018–2021 (‘000 UNITS)143
TABLE 97FCEV DIFFERENTIAL MARKET, BY REGION, 2022–2027 (‘000 UNITS)144
TABLE 98FCEV DIFFERENTIAL MARKET, BY REGION, 2018–2021 (USD MILLION)144
TABLE 99FCEV DIFFERENTIAL MARKET, BY REGION, 2022–2027 (USD MILLION)144
10ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY DIFFERENTIAL TYPE145
10.1INTRODUCTION146
10.1.1RESEARCH METHODOLOGY146
10.1.2ASSUMPTIONS146
10.1.3INDUSTRY INSIGHTS: ELECTRIC & HYBRID VEHICLES, BY DIFFERENTIAL TYPE147
FIGURE 37ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY DIFFERENTIAL TYPE, 2022 VS. 2027 (USD MILLION)147
TABLE 100ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY DIFFERENTIAL TYPE, 2018–2021 (‘000 UNITS)147
TABLE 101ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY DIFFERENTIAL TYPE, 2022–2027 (‘000 UNITS)148
TABLE 102ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY DIFFERENTIAL TYPE, 2018–2021 (USD MILLION)148
TABLE 103ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY DIFFERENTIAL TYPE, 2022–2027 (USD MILLION)148
10.2ELECTRONIC LIMITED SLIP DIFFERENTIAL149
TABLE 104ELSD: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2018–2021 (‘000 UNITS)149
TABLE 105ELSD: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2022–2027 (‘000 UNITS)149
TABLE 106ELSD: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2018–2021 (USD MILLION)149
TABLE 107ELSD: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2022–2027 (USD MILLION)150
10.3LOCKING DIFFERENTIALS150
TABLE 108LOCKING DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2018–2021 (‘000 UNITS)150
TABLE 109LOCKING DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2022–2027 (‘000 UNITS)150
TABLE 110LOCKING DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2018–2021 (USD MILLION)151
TABLE 111LOCKING DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2022–2027 (USD MILLION)151
10.4LIMITED SLIP DIFFERENTIALS151
TABLE 112LIMITED SLIP DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2018–2021 (‘000 UNITS)151
TABLE 113LIMITED SLIP DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2022–2027 (‘000 UNITS)152
TABLE 114LIMITED SLIP DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2018–2021 (USD MILLION)152
TABLE 115LIMITED SLIP DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2022–2027 (USD MILLION)152
10.5OPEN DIFFERENTIALS153
TABLE 116OPEN DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2018–2021 (‘000 UNITS)153
TABLE 117OPEN DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2022–2027 (‘000 UNITS)153
TABLE 118OPEN DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2018–2021 (USD MILLION)153
TABLE 119OPEN DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2022–2027 (USD MILLION)154
10.6TORQUE VECTORING DIFFERENTIALS154
TABLE 120TORQUE VECTORING DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2018–2021 (‘000 UNITS)154
TABLE 121TORQUE VECTORING DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2022–2027 (‘000 UNITS)155
TABLE 122TORQUE VECTORING DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2018–2021 (USD MILLION)155
TABLE 123TORQUE VECTORING DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2022–2027 (USD MILLION)155
11AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY COMPONENT156
11.1INTRODUCTION157
11.1.1RESEARCH METHODOLOGY157
11.1.2ASSUMPTIONS157
11.1.3INDUSTRY INSIGHTS: OE BY COMPONENT TYPE158
FIGURE 38AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY COMPONENT TYPE, 2022 VS. 2027 (USD MILLION)158
TABLE 124AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY COMPONENT TYPE, 2018–2021 (‘000 UNITS)158
TABLE 125AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY COMPONENT TYPE, 2022–2027 (‘000 UNITS)159
TABLE 126AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY COMPONENT TYPE, 2018–2021 (USD MILLION)159
TABLE 127AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY COMPONENT TYPE, 2022–2027 (USD MILLION)159
11.2PINION GEARS160
TABLE 128PINION GEARS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)160
TABLE 129PINION GEARS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)160
TABLE 130PINION GEARS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (USD MILLION)160
TABLE 131PINION GEARS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (USD MILLION)161
11.3DIFFERENTIAL HOUSINGS161
TABLE 132DIFFERENTIAL HOUSINGS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)161
TABLE 133DIFFERENTIAL HOUSINGS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)162
TABLE 134DIFFERENTIAL HOUSINGS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (USD MILLION)162
TABLE 135DIFFERENTIAL HOUSINGS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (USD MILLION)162
11.4SIDE GEARS163
TABLE 136SIDE GEARS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)163
TABLE 137SIDE GEARS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)163
TABLE 138SIDE GEARS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (USD MILLION)163
TABLE 139SIDE GEARS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (USD MILLION)164
11.5RING GEARS164
TABLE 140RING GEARS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)164
TABLE 141RING GEARS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)165
TABLE 142RING GEARS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (USD MILLION)165
TABLE 143RING GEARS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (USD MILLION)165
11.6DIFFERENTIAL BEARINGS166
TABLE 144DIFFERENTIAL BEARINGS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)166
TABLE 145DIFFERENTIAL BEARINGS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)166
TABLE 146DIFFERENTIAL BEARINGS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (USD MILLION)166
TABLE 147DIFFERENTIAL BEARINGS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (USD MILLION)167
12AUTOMOTIVE DIFFERENTIAL AFTERMARKET (ICE), BY COMPONENT168
12.1INTRODUCTION169
12.1.1RESEARCH METHODOLOGY169
12.1.2ASSUMPTIONS169
12.1.3INDUSTRY INSIGHTS: AFTERMARKET BY COMPONENT TYPE170
FIGURE 39AUTOMOTIVE DIFFERENTIAL AFTERMARKET (ICE), BY COMPONENT TYPE, 2022 VS. 2027 (USD MILLION)170
TABLE 148AUTOMOTIVE DIFFERENTIAL AFTERMARKET (ICE), BY COMPONENT TYPE, 2018–2021 (‘000 UNITS)170
TABLE 149AUTOMOTIVE DIFFERENTIAL AFTERMARKET (ICE), BY COMPONENT TYPE, 2022–2027 (‘000 UNITS)171
TABLE 150AUTOMOTIVE DIFFERENTIAL AFTERMARKET (ICE), BY COMPONENT TYPE, 2018–2021 (USD MILLION)171
TABLE 151AUTOMOTIVE DIFFERENTIAL AFTERMARKET (ICE), BY COMPONENT TYPE, 2022–2027 (USD MILLION)171
12.2DIFFERENTIAL BEARINGS172
TABLE 152DIFFERENTIAL BEARINGS AFTERMARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)172
TABLE 153DIFFERENTIAL BEARINGS AFTERMARKET (ICE)), BY REGION, 2022–2027 (‘000 UNITS)172
TABLE 154DIFFERENTIAL BEARINGS AFTERMARKET (ICE), BY REGION, 2018–2021 (USD MILLION)172
TABLE 155DIFFERENTIAL BEARINGS AFTERMARKET (ICE), BY REGION, 2022–2027 (USD MILLION)173
12.3DIFFERENTIAL GEARS173
TABLE 156DIFFERENTIAL GEARS AFTERMARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)173
TABLE 157DIFFERENTIAL GEARS AFTERMARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)174
TABLE 158DIFFERENTIAL GEARS AFTERMARKET (ICE), BY REGION, 2018–2021 (USD MILLION)174
TABLE 159DIFFERENTIAL GEARS AFTERMARKET (ICE), BY REGION, 2022–2027 (USD MILLION)174
12.4DIFFERENTIAL GASKETS175
TABLE 160DIFFERENTIAL GASKETS AFTERMARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)175
TABLE 161DIFFERENTIAL GASKETS AFTERMARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)175
TABLE 162DIFFERENTIAL GASKETS AFTERMARKET (ICE)), BY REGION, 2018–2021 (USD MILLION)175
TABLE 163DIFFERENTIAL GASKETS AFTERMARKET (ICE), BY REGION, 2022–2027 (USD MILLION)176
12.5DIFFERENTIAL SEALS176
TABLE 164DIFFERENTIAL SEALS AFTERMARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)176
TABLE 165DIFFERENTIAL SEALS AFTERMARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)177
TABLE 166DIFFERENTIAL SEALS AFTERMARKET (ICE), BY REGION, 2018–2021 (USD MILLION)177
TABLE 167DIFFERENTIAL SEALS AFTERMARKET (ICE), BY REGION, 2022–2027 (USD MILLION)177
13OFF-HIGHWAY VEHICLE DIFFERENTIAL MARKET, BY EQUIPMENT TYPE178
13.1INTRODUCTION179
13.1.1RESEARCH METHODOLOGY179
13.1.2ASSUMPTIONS180
13.1.3INDUSTRY INSIGHTS: OFF-HIGHWAY VEHICLE DIFFERENTIAL MARKET (ICE), BY EQUIPMENT TYPE180
FIGURE 40OFF-HIGHWAY VEHICLE DIFFERENTIAL MARKET (ICE), BY EQUIPMENT TYPE, 2022 VS. 2027 (USD MILLION)181
TABLE 168OFF-HIGHWAY VEHICLE DIFFERENTIAL MARKET (ICE), BY EQUIPMENT TYPE, 2018–2021 (‘000 UNITS)181
TABLE 169OFF-HIGHWAY VEHICLE DIFFERENTIAL MARKET (ICE), BY EQUIPMENT TYPE, 2022–2027 (‘000 UNITS)181
TABLE 170OFF-HIGHWAY VEHICLE DIFFERENTIAL MARKET (ICE), BY EQUIPMENT TYPE, 2018–2021 (USD MILLION)181
TABLE 171OFF-HIGHWAY VEHICLE DIFFERENTIAL MARKET (ICE), BY EQUIPMENT TYPE, 2022–2027 (USD MILLION)182
13.2AGRICULTURAL TRACTORS182
TABLE 172AGRICULTURAL TRACTORS DIFFERENTIAL MARKET, BY DRIVE TYPE, 2018–2021 (‘000 UNITS)182
TABLE 173AGRICULTURAL TRACTORS DIFFERENTIAL MARKET, BY DRIVE TYPE, 2022–2027 (‘000 UNITS)182
TABLE 174AGRICULTURAL TRACTORS DIFFERENTIAL MARKET, BY DRIVE TYPE, 2018–2021 (USD MILLION)183
TABLE 175AGRICULTURAL TRACTORS DIFFERENTIAL MARKET, BY DRIVE TYPE, 2022–2027 (USD MILLION)183
13.2.1TWO-WHEEL DRIVE183
TABLE 1762WD: AGRICULTURAL TRACTORS DIFFERENTIAL MARKET, BY REGION, 2018–2021 (‘000 UNITS)183
TABLE 1772WD: AGRICULTURAL TRACTORS DIFFERENTIAL MARKET, BY REGION, 2022–2027 (‘000 UNITS)184
TABLE 1782WD: AGRICULTURAL TRACTORS DIFFERENTIAL MARKET, BY REGION, 2018–2021 (USD MILLION)184
TABLE 1792WD: AGRICULTURAL TRACTORS DIFFERENTIAL MARKET, BY REGION, 2022–2027 (USD MILLION)184
13.2.2FOUR-WHEEL DRIVE185
TABLE 1804WD: AGRICULTURAL TRACTORS DIFFERENTIAL MARKET, BY REGION, 2018–2021 (‘000 UNITS)185
TABLE 1814WD: AGRICULTURAL TRACTORS DIFFERENTIAL MARKET, BY REGION, 2022–2027 (‘000 UNITS)185
TABLE 1824WD: AGRICULTURAL TRACTORS DIFFERENTIAL MARKET, BY REGION, 2018–2021 (USD MILLION)185
TABLE 1834WD: AGRICULTURAL TRACTORS DIFFERENTIAL MARKET, BY REGION, 2022–2027 (USD MILLION)186
13.3FORKLIFTS186
TABLE 184FORKLIFTS DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)186
TABLE 185FORKLIFTS DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)186
TABLE 186FORKLIFTS DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (USD MILLION)187
TABLE 187FORKLIFTS DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (USD MILLION)187
14AUTOMOTIVE DIFFERENTIAL MARKET, BY REGION188
14.1INTRODUCTION189
14.1.1RESEARCH METHODOLOGY189
14.1.2ASSUMPTIONS190
14.1.3INDUSTRY INSIGHTS: DIFFERENTIAL MARKET, BY DIFFERENTIAL TYPE190
FIGURE 41AUTOMOTIVE DIFFERENTIAL MARKET, 2022 VS. 2027 (USD MILLION)190
TABLE 188AUTOMOTIVE DIFFERENTIAL MARKET, BY REGION, 2018–2021 (‘000 UNITS)190
TABLE 189AUTOMOTIVE DIFFERENTIAL MARKET, BY REGION, 2022–2027 (‘000 UNITS)191
TABLE 190AUTOMOTIVE DIFFERENTIAL MARKET, BY REGION, 2018–2021 (USD MILLION)191
TABLE 191AUTOMOTIVE DIFFERENTIAL MARKET, BY REGION, 2022–2027 (USD MILLION)191
Improving economic conditions and growing requirements of ultimate performance and comfort features primarily drive AWD/4WD systems installation in the premium segment cars and SUVs. These factors would consequently influence the market for multi-wheel drive systems, which would drive the demand for the automotive differential. Additionally, strong demand and upcoming new model launches for plug-in hybrid sedans and SUVs in China, Japan, and European and North American countries are expected to accelerate the differential market growth for the electric and hybrid vehicle segment.
"Passenger cars is the largest market for automotive differentials."
Passenger cars registered the largest market share in the global automotive differential market owing to the rising production of passenger cars in developing countries such as India, China, and Thailand. Further, a drastic preference shift is noted for bigger cars, with doubled SUVs share over the past few years. According to IEA, the number of SUVs on the world’s roads increased by more than 35 million in 2021. According to MarketsandMarkets Analysis, of total premium cars produced globally, the share of premium SUVs stood at ~53% in 2016, which grew to ~62% in 2021. US, Canada, China, Japan, and South Korea lead the market for premium SUVs and sedan cars, constituting more than 90% of total production globally.
Further, almost half of all cars sold in the US and one-third of those sold in Europe are SUVs. Furthermore, with consumers shifting their inclination towards bigger cars with basic and advanced comfort and luxury functionalities, global OEMs are expanding their SUVs and medium and premium cars with either RWD or 4WD/AWD systems. In line with this, the demand for open differential and advanced differentials market would also grow for the passenger cars segment.
"Open Differential hold the largest share in the automotive differential market."
Open differential is the simplest form of differential which transmits the equal torque to each wheel of the two wheels. Most of the passenger cars are front wheel drives installed with open differential due to lower price amongst other types, less energy loss, and less gear configuration used in differential. Asia Pacific holds the largest market share for open differential due to the higher production of passenger cars in this region. Almost 60-65% passenger cars are equipped with open differential type. and it also have wide application in commercial truck and light commercial vehicle. Thus, rise in demand for passenger cars and commercial trucks will create demand for open differentials.
“Differential seals hold the largest share in the automotive differential component aftermarket.
The differential seals are located at the output shafts of a vehicle’s differential. They usually seal the axle shafts against the differential and prevent fluid from leaking out of the differential as it operates. Differential seals have maximum and frequent chances of wearing out as compared to other components of a differential system; hence it requires replacement over fixed time intervals. Using damaged seals in the differential may lead to considerable damage to gears, axles, and other differential components owing to oil leakage. It may further damage whole differential assembly. Thus, the high number of seals in differentials and replacement over fixed time intervals creates the demand for differential seals in the aftermarket.
North America is estimated to be the second-largest market for automotive differential
North America accounted to be the second-largest market for automotive differentials. The region has a higher demand for passenger vehicles, particularly premium cars (C segment and above). These premium cars are installed with advanced safety, driving features, and AWD/4WD drive systems. With increasing premium car sales, the region's demand for automotive differentials is expected to grow. The demand for light trucks and vans has witnessed rapid growth in the North American region. Also, there is an increase in demand for second vehicle ownership in the US.
It has been observed that most of the second preferred vehicles in the US are light trucks, which are mostly RWD, or 4WD/AWD installed with limited slip differential, ELSD, and Torque vectoring differentials. Lexus, Porche, Toyota, and Audi are offering models installed with advanced differentials. Also, few commercial vehicle manufacturers such as Volvo VNX 300, VNX 400, and VNX 740 are offering heavy trucks and tippers with 4x4, 4x6, etc. configurations. Further, increasing industrialization, growing logistic business and e-commerce industry has created the huge demand for trucks production and sales in the US will subsequently create the demand for automotive differential. In addition to this, hybrid vehicle has also seen a considerable adoption rate in North America. All these factors are expected to drive the market of differentials in the North American region.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and strategy directors, and executives from various key organizations operating in this market.
•By Company Type: OEMs –10%, and Tier 1 – 90%
•By Designation: C Level Executives - 15%, Directors - 35%, and Others – 50%
•By Region: Asia Pacific - 50%, Europe – 10%, North America – 30%, and RoW- 10%
GKN Driveline (UK), Eaton Plc (Ireland), American Axle & Manufacturing Company (US), Dana Inc. (US), BorgWarner Inc. (US), Linamar Corporation (Canada), Schaeffler AG (Germany), JTEKT Corporation (Japan), ZF (Germany), Hyundai Wia Corporation (South Korea) are the leading supplier of automotive differential in the global market.
Research Coverage:
The automotive differential market is segmented on differential Type (ICE) (open, locking, limited slip, electronic limited slip, and torque-vectoring differential), drive type (front-wheel drive, rear-wheel drive, and all-wheel drive/4-wheel drive), OE component market (pinion gear, differential housing, side gear, ring gear, and differential bearings), aftermarket by component (differential bearings, differential gears, differential gaskets, and differential seals), electric & hybrid differential by EV type (PHEV, and FCEV), electric & hybrid differential market by differential type (open, locking, limited slip, electronic limited slip, and torque-vectoring differential), off-highway differential by equipment type (agricultural tractors, and forklifts) and region (Asia Pacific, Europe, North America, and ROW).
The study also includes an in-depth competitive analysis of the major automotive differential manufacturers in the market, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders in this market with information on the closest approximations of the revenue numbers for the overall automotive differential market and the sub-segments. This report will help differential component manufacturers to understand the OE and aftermarket demand of components. This report would also help stakeholders to understand the fastest growing and largest market for automotive differential at regional and global level. The report helps stakeholders to understand the opportunities in differential OE and aftermarket of components based on the replacement life. This report will help stakeholders to understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the market's pulse and provides information on key market drivers, restraints, challenges, and opportunities.
1INTRODUCTION42
1.1STUDY OBJECTIVES42
1.2MARKET DEFINITION44
1.3INCLUSIONS & EXCLUSIONS45
TABLE 1AUTOMOTIVE DIFFERENTIAL MARKET: INCLUSIONS & EXCLUSIONS45
1.4MARKET SCOPE46
1.4.1MARKETS COVERED46
FIGURE 1AUTOMOTIVE DIFFERENTIAL MARKET SEGMENTATION46
1.4.2YEARS CONSIDERED47
1.5CURRENCY CONSIDERED47
1.6SUMMARY OF CHANGES47
1.7LIMITATIONS48
1.8STAKEHOLDERS48
2RESEARCH METHODOLOGY49
2.1RESEARCH DATA49
FIGURE 2RESEARCH DESIGN – AUTOMOTIVE DIFFERENTIAL MARKET49
FIGURE 3RESEARCH METHODOLOGY MODEL50
2.1.1SECONDARY DATA50
2.1.1.1Key secondary sources for vehicle production and electric vehicle sales50
2.1.1.2Key secondary sources for market sizing51
2.1.1.3Key data from secondary sources52
2.1.2PRIMARY DATA52
FIGURE 4BREAKDOWN OF PRIMARY INTERVIEWS53
2.1.2.1Sampling techniques & data collection methods53
2.1.2.2Primary participants54
2.2MARKET SIZE ESTIMATION54
FIGURE 5RESEARCH METHODOLOGY: HYPOTHESIS BUILDING55
2.2.1BOTTOM-UP APPROACH56
FIGURE 6AUTOMOTIVE DIFFERENTIAL MARKET: BOTTOM-UP APPROACH56
2.2.2FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDES57
2.3MARKET BREAKDOWN & DATA TRIANGULATION58
2.4FACTOR ANALYSIS59
2.5ASSUMPTIONS AND ASSOCIATED RISKS60
2.5.1RESEARCH ASSUMPTIONS60
2.5.2MARKET ASSUMPTIONS61
TABLE 2ASSUMPTIONS, ASSOCIATED RISKS, AND IMPACT61
2.6LIMITATIONS63
3EXECUTIVE SUMMARY64
FIGURE 7AUTOMOTIVE DIFFERENTIAL MARKET: MARKET OUTLOOK64
FIGURE 8AUTOMOTIVE DIFFERENTIAL MARKET, BY REGION, 2022 VS. 2027 (USD MILLION)65
4PREMIUM INSIGHTS67
4.1ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN AUTOMOTIVE DIFFERENTIAL MARKET67
FIGURE 9INCREASE IN DEMAND FOR SUV AND LUXURY VEHICLES TO DRIVE AUTOMOTIVE DIFFERENTIAL MARKET67
4.2AUTOMOTIVE DIFFERENTIAL MARKET, BY REGION (ICE)68
FIGURE 10ASIA PACIFIC TO DOMINATE AUTOMOTIVE DIFFERENTIAL MARKET68
4.3AUTOMOTIVE DIFFERENTIAL MARKET, BY DIFFERENTIAL TYPE (ICE)68
FIGURE 11OPEN DIFFERENTIALS SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE68
4.4AUTOMOTIVE DIFFERENTIAL MARKET, BY DRIVE TYPE (ICE)69
FIGURE 12AWD/4WD DRIVE SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD69
4.5AUTOMOTIVE DIFFERENTIAL MARKET, BY VEHICLE TYPE (ICE)69
FIGURE 13PASSENGER CARS SEGMENT TO DOMINATE DURING FORECAST PERIOD69
4.6ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY VEHICLE TYPE70
FIGURE 14PHEV SEGMENT TO BE LARGEST MARKET70
4.7ELECTRIC & HYBRID DIFFERENTIAL MARKET, BY DIFFERENTIAL TYPE70
FIGURE 15ELSD SEGMENT TO RECORD HIGHEST CAGR DURING FORECAST PERIOD70
4.8AUTOMOTIVE DIFFERENTIAL OE MARKET, BY COMPONENT (ICE)71
FIGURE 16PINION GEARS SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD71
4.9AUTOMOTIVE DIFFERENTIAL AFTERMARKET, BY COMPONENT (ICE)71
FIGURE 17DIFFERENTIAL BEARINGS TO DOMINATE MARKET DURING FORECAST PERIOD71
4.10AGRICULTURAL TRACTORS DIFFERENTIAL MARKET, BY DRIVE TYPE (ICE)72
FIGURE 182WD DRIVE TRACTORS TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD72
4.11OFF-HIGHWAY DIFFERENTIAL MARKET, BY EQUIPMENT TYPE (ICE)72
FIGURE 19AGRICULTURAL TRACTORS TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD72
4.12AUTOMOTIVE DIFFERENTIAL MARKET, BY REGION (ICE)73
FIGURE 20ASIA PACIFIC TO LEAD MARKET DURING FORECAST PERIOD73
5MARKET OVERVIEW74
5.1INTRODUCTION74
5.2MARKET DYNAMICS75
FIGURE 21AUTOMOTIVE DIFFERENTIAL MARKET: MARKET DYNAMICS75
5.2.1DRIVERS75
5.2.1.1Rising demand for commercial and heavy-duty vehicles75
FIGURE 22HEAVY TRUCKS PRODUCTION, 2018–2021 (UNITS)76
5.2.1.2Increased investment in infrastructure to boost demand for construction & mining equipment76
FIGURE 23CONSTRUCTION EQUIPMENT SALES, 2018–2025 (UNITS)77
FIGURE 24MINING EQUIPMENT SALES, 2018–2025 (UNITS)77
5.2.1.3Growing penetration of all-wheel drive (AWD) and four-wheel drive (4WD) vehicles77
FIGURE 25LCV: DRIVETRAIN INSTALLATION RATE (BY DRIVE TYPE), 2014–202178
FIGURE 26HCV: DRIVETRAIN INSTALLATION RATE (BY DRIVE TYPE), 2014–202178
5.2.1.4Rising preference for luxury vehicles and SUVs78
TABLE 3KEY OEMS OFFERING SUVS WITH AWD & 4WD SYSTEMS79
5.2.2RESTRAINTS80
5.2.2.1Growing demand for electric passenger and commercial vehicles80
5.2.3OPPORTUNITIES80
5.2.3.1Advancements in differential technology80
5.2.4CHALLENGES81
5.2.4.1Presence of local and regional suppliers81
5.3TRENDS/DISRUPTIONS IMPACTING BUYERS81
FIGURE 27TRENDS/DISRUPTIONS IMPACTING BUYERS81
5.4AUTOMOTIVE DIFFERENTIAL MARKET SCENARIO82
FIGURE 28AUTOMOTIVE DIFFERENTIAL MARKET SCENARIO, 2018–2027 (USD MILLION)82
5.4.1REALISTIC SCENARIO82
TABLE 4AUTOMOTIVE DIFFERENTIAL MARKET (REALISTIC SCENARIO), BY REGION, 2018–2027 (USD MILLION)82
5.4.2LOW IMPACT SCENARIO83
TABLE 5AUTOMOTIVE DIFFERENTIAL MARKET (LOW IMPACT SCENARIO), BY REGION, 2018–2027 (USD MILLION)83
5.4.3HIGH IMPACT SCENARIO83
TABLE 6AUTOMOTIVE DIFFERENTIAL MARKET (HIGH IMPACT SCENARIO), BY REGION, 2018–2027 (USD MILLION)83
5.5PORTER'S FIVE FORCES ANALYSIS84
FIGURE 29PORTER'S FIVE FORCES ANALYSIS: ESTABLISHED GLOBAL PLAYERS INCREASE COMPETITION84
5.5.1PORTER'S FIVE FORCES ANALYSIS84
5.5.2THREAT OF SUBSTITUTES85
5.5.3THREAT OF NEW ENTRANTS85
5.5.4BARGAINING POWER OF BUYERS85
5.5.5BARGAINING POWER OF SUPPLIERS85
5.5.6INTENSITY OF COMPETITIVE RIVALRY85
5.6AUTOMOTIVE DIFFERENTIAL ECOSYSTEM86
FIGURE 30AUTOMOTIVE DIFFERENTIAL MARKET ECOSYSTEM86
TABLE 7AUTOMOTIVE DIFFERENTIAL MARKET: ROLE OF COMPANIES IN ECOSYSTEM87
5.7SUPPLY CHAIN ANALYSIS88
FIGURE 31SUPPLY CHAIN ANALYSIS: AUTOMOTIVE DIFFERENTIAL MARKET88
5.8PRICING ANALYSIS89
5.8.1BY TYPE AND REGION (USD/UNIT), 202189
5.9CASE STUDY ANALYSIS90
5.9.1GKN AUTOMOTIVE AND PORSCHE ENGINEERING DEVELOP NEW METAL AM FOR E-DRIVE APPLICATION90
5.9.2GKN AUTOMOTIVE AND ROMAX CONSULTING DESIGN HIGH-EFFICIENCY E-DRIVE SYSTEM90
5.10IMPORT & EXPORT DATA91
5.10.1IMPORT DATA91
5.10.1.1US91
TABLE 8US: DIFFERENTIAL IMPORTS SHARE, BY COUNTRY (VALUE %)91
5.10.1.2Mexico91
TABLE 9MEXICO: DIFFERENTIAL IMPORTS SHARE, BY COUNTRY (VALUE %)91
5.10.1.3China92
TABLE 10CHINA: DIFFERENTIAL IMPORTS SHARE, BY COUNTRY (VALUE %)92
5.10.1.4Japan92
TABLE 11JAPAN: DIFFERENTIAL IMPORTS SHARE, BY COUNTRY (VALUE %)92
5.10.1.5India93
TABLE 12INDIA: DIFFERENTIAL IMPORTS SHARE, BY COUNTRY (VALUE %)93
5.10.1.6Germany93
TABLE 13GERMANY: DIFFERENTIAL IMPORTS SHARE, BY COUNTRY (VALUE %)93
5.10.1.7France94
TABLE 14FRANCE: DIFFERENTIAL IMPORTS SHARE, BY COUNTRY (VALUE %)94
5.10.1.8Spain94
TABLE 15SPAIN: DIFFERENTIAL IMPORTS SHARE, BY COUNTRY (VALUE %)94
5.10.2EXPORT DATA95
5.10.2.1US95
TABLE 16US: DIFFERENTIAL EXPORTS SHARE, BY COUNTRY (VALUE %)95
5.10.2.2Mexico95
TABLE 17MEXICO: DIFFERENTIAL EXPORTS SHARE, BY COUNTRY (VALUE %)95
5.10.2.3China95
TABLE 18CHINA: DIFFERENTIAL EXPORTS SHARE, BY COUNTRY (VALUE %)95
5.10.2.4Japan96
TABLE 19JAPAN: DIFFERENTIAL EXPORTS SHARE, BY COUNTRY (VALUE %)96
5.10.2.5India96
TABLE 20INDIA: DIFFERENTIAL EXPORTS SHARE, BY COUNTRY (VALUE %)96
5.10.2.6Germany97
TABLE 21GERMANY: DIFFERENTIAL EXPORTS SHARE, BY COUNTRY (VALUE %)97
5.10.2.7France97
TABLE 22FRANCE: DIFFERENTIAL EXPORTS SHARE, BY COUNTRY (VALUE %)97
5.10.2.8Spain98
TABLE 23SPAIN: DIFFERENTIAL EXPORTS SHARE, BY COUNTRY (VALUE %)98
5.11KEY CONFERENCES AND EVENTS, 2022–202398
5.11.1AUTOMOTIVE DIFFERENTIAL MARKET: UPCOMING CONFERENCES AND EVENTS98
5.12PATENT ANALYSIS99
5.12.1APPLICATIONS AND PATENTS GRANTED, 2019–202299
5.13BUYING CRITERIA101
FIGURE 32KEY BUYING CRITERIA FOR ICE AND ELECTRIC & HYBRID VEHICLES101
TABLE 24KEY BUYING CRITERIA FOR ICE AND ELECTRIC & HYBRID VEHICLES101
5.14REGULATORY ANALYSIS102
TABLE 25DIFFERENTIAL/4WD/AWD REGULATIONS, BY REGION102
5.14.1EMISSION REGULATIONS104
5.14.1.1On-road vehicles104
TABLE 26EURO-5 VS. EURO-6 VEHICLE EMISSION STANDARDS FOR NEW EUROPEAN DRIVING CYCLE104
TABLE 27ON-ROAD VEHICLE EMISSION REGULATION OUTLOOK FOR PASSENGER CARS, 2016–2021104
5.15TECHNOLOGY ANALYSIS104
5.15.1DEVELOPMENT OF ELECTRONIC DIFFERENTIALS FOR ELECTRIC VEHICLES104
5.15.2DEVELOPMENT OF ELECTRONICALLY ACTIVATED CLUTCHES TO COMPRESS PLATES AND LOCK DIFFERENTIAL105
6AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY DIFFERENTIAL TYPE106
6.1INTRODUCTION107
6.1.1RESEARCH METHODOLOGY107
6.1.2ASSUMPTIONS108
6.1.3INDUSTRY INSIGHTS: ICE VEHICLES, BY DIFFERENTIAL TYPE108
FIGURE 33AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY DIFFERENTIAL TYPE, 2022 VS. 2027 (USD MILLION)108
TABLE 28AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY DIFFERENTIAL TYPE, 2018–2021 (‘000 UNITS)109
TABLE 29AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY DIFFERENTIAL TYPE, 2022–2027 (‘000 UNITS)109
TABLE 30AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY DIFFERENTIAL TYPE, 2018–2021 (USD MILLION)109
TABLE 31AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY DIFFERENTIAL TYPE, 2022–2027 (USD MILLION)110
6.2ELECTRONIC LIMITED SLIP DIFFERENTIALS110
TABLE 32ELSD MARKET, BY REGION, 2018–2021 (‘000 UNITS)110
TABLE 33ELSD MARKET, BY REGION, 2022–2027 (‘000 UNITS)111
TABLE 34ELSD MARKET, BY REGION, 2018–2021 (MILLION USD)111
TABLE 35ELSD MARKET, BY REGION, 2022–2027 (MILLION USD)111
6.3LOCKING DIFFERENTIALS112
TABLE 36LOCKING DIFFERENTIALS MARKET, BY REGION, 2018–2021 (‘000 UNITS)112
TABLE 37LOCKING DIFFERENTIALS MARKET, BY REGION, 2022–2027 (‘000 UNITS)112
TABLE 38LOCKING DIFFERENTIALS MARKET, BY REGION, 2018–2021 (USD MILLION)112
TABLE 39LOCKING DIFFERENTIALS MARKET, BY REGION, 2022–2027 (USD MILLION)113
6.4LIMITED SLIP DIFFERENTIALS113
TABLE 40LIMITED SLIP DIFFERENTIALS MARKET, BY REGION, 2018–2021 (‘000 UNITS)113
TABLE 41LIMITED SLIP DIFFERENTIALS MARKET, BY REGION, 2022–2027 (‘000 UNITS)114
TABLE 42LIMITED SLIP DIFFERENTIALS MARKET, BY REGION, 2018–2021 (USD MILLION)114
TABLE 43LIMITED SLIP DIFFERENTIALS MARKET, BY REGION, 2022–2027 (USD MILLION)114
6.5OPEN DIFFERENTIALS115
TABLE 44OPEN DIFFERENTIALS MARKET, BY REGION, 2018–2021 (‘000 UNITS)115
TABLE 45OPEN DIFFERENTIALS MARKET, BY REGION, 2022–2027 (‘000 UNITS)115
TABLE 46OPEN DIFFERENTIALS MARKET, BY REGION, 2018–2021 (USD MILLION)116
TABLE 47OPEN DIFFERENTIALS MARKET, BY REGION, 2022–2027 (USD MILLION)116
6.6TORQUE VECTORING DIFFERENTIALS116
TABLE 48TORQUE VECTORING DIFFERENTIALS MARKET, BY REGION, 2018–2021 (‘000 UNITS)117
TABLE 49TORQUE VECTORING DIFFERENTIALS MARKET, BY REGION, 2022–2027 (‘000 UNITS)117
TABLE 50TORQUE VECTORING DIFFERENTIALS MARKET, BY REGION, 2018–2021 (USD MILLION)117
TABLE 51TORQUE VECTORING DIFFERENTIALS MARKET, BY REGION, 2022–2027 (USD MILLION)118
7AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY DRIVE TYPE119
7.1INTRODUCTION120
7.1.1RESEARCH METHODOLOGY120
7.1.2ASSUMPTIONS121
7.1.3INDUSTRY INSIGHTS: ICE VEHICLES, BY DRIVE TYPE121
FIGURE 34AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY DRIVE TYPE, 2022 VS. 2027 (USD MILLION)121
TABLE 52AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY DRIVE TYPE, 2018–2021 (‘000 UNITS)121
TABLE 53AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY DRIVE TYPE, 2022–2027 (‘000 UNITS)122
TABLE 54AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY DRIVE TYPE, 2018–2021 (USD MILLION)122
TABLE 55AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY DRIVE TYPE, 2022–2027 (USD MILLION)122
7.2FRONT-WHEEL DRIVE122
TABLE 56FWD: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)123
TABLE 57FWD: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)123
TABLE 58FWD: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (USD MILLION)123
TABLE 59FWD: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (USD MILLION)123
7.3REAR-WHEEL DRIVE124
TABLE 60RWD: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)124
TABLE 61RWD: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)124
TABLE 62RWD: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (USD MILLION)124
TABLE 63RWD: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (USD MILLION)125
7.4ALL-WHEEL DRIVE/FOUR-WHEEL DRIVE (AWD/4WD)125
TABLE 64AWD/4WD: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)125
TABLE 65AWD/4WD: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)126
TABLE 66AWD/4WD: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (USD MILLION)126
TABLE 67AWD/4WD: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (USD MILLION)126
8AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY VEHICLE TYPE127
8.1INTRODUCTION128
8.1.1RESEARCH METHODOLOGY128
8.1.2ASSUMPTIONS129
8.1.3INDUSTRY INSIGHTS: BY VEHICLE TYPE (ICE)129
FIGURE 35AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY VEHICLE TYPE, 2022 VS. 2027 (USD MILLION)129
TABLE 68AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY VEHICLE TYPE, 2018–2021 (‘000 UNITS)130
TABLE 69AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY VEHICLE TYPE, 2022–2027 (‘000 UNITS)130
TABLE 70AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY VEHICLE TYPE, 2018–2021 (USD MILLION)130
TABLE 71AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY VEHICLE TYPE, 2022–2027 (USD MILLION)130
8.2PASSENGER CARS131
TABLE 72PASSENGER CARS MARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)131
TABLE 73PASSENGER CARS MARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)132
TABLE 74PASSENGER CARS MARKET (ICE), 2018–2021 (USD MILLION)132
TABLE 75PASSENGER CARS MARKET (ICE), BY REGION, 2022–2027 (USD MILLION)132
8.3LIGHT COMMERCIAL VEHICLES (LCV)133
TABLE 76LIGHT COMMERCIAL VEHICLES MARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)133
TABLE 77LIGHT COMMERCIAL VEHICLES MARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)133
TABLE 78LIGHT COMMERCIAL VEHICLES MARKET (ICE), BY REGION, 2018–2021 (USD MILLION)134
TABLE 79LIGHT COMMERCIAL VEHICLES MARKET (ICE), BY REGION, 2022–2027 (USD MILLION)134
8.4TRUCKS134
TABLE 80TRUCKS DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)135
TABLE 81TRUCKS DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)135
TABLE 82TRUCKS DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (USD MILLION)135
TABLE 83TRUCKS MARKET (ICE), BY REGION, 2022–2027 (USD MILLION)136
8.5BUSES136
TABLE 84BUSES DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)136
TABLE 85BUSES DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)137
TABLE 86BUSES DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (USD MILLION)137
TABLE 87BUSES DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (USD MILLION)137
9ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY VEHICLE TYPE138
9.1INTRODUCTION139
9.1.1RESEARCH METHODOLOGY139
9.1.2ASSUMPTIONS140
9.1.3INDUSTRY INSIGHTS: ELECTRIC & HYBRID VEHICLES, BY VEHICLE TYPE140
FIGURE 36ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY VEHICLE TYPE, 2022 VS. 2027 (USD MILLION)140
TABLE 88ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY VEHICLE TYPE, 2018–2021 (‘000 UNITS)140
TABLE 89ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY VEHICLE TYPE, 2022–2027 (‘000 UNITS)141
TABLE 90ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)141
TABLE 91ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)141
9.2PLUG-IN HYBRID ELECTRIC VEHICLES (PHEV)141
9.2.1GOVERNMENT SUBSIDIES AND INVESTMENTS IN CHARGING INFRASTRUCTURE TO DRIVE SEGMENT141
TABLE 92PHEV DIFFERENTIAL MARKET, BY REGION, 2018–2021 (‘000 UNITS)142
TABLE 93PHEV DIFFERENTIAL MARKET, BY REGION, 2022–2027 (‘000 UNITS)142
TABLE 94PHEV DIFFERENTIAL MARKET, BY REGION, 2018–2021 (USD MILLION)142
TABLE 95PHEV DIFFERENTIAL MARKET, BY REGION, 2022–2027 (USD MILLION)143
9.3FUEL CELL ELECTRIC VEHICLES (FCEV)143
9.3.1ENVIRONMENT-FRIENDLY PROPERTIES TO DRIVE DEMAND143
TABLE 96FCEV DIFFERENTIAL MARKET, BY REGION, 2018–2021 (‘000 UNITS)143
TABLE 97FCEV DIFFERENTIAL MARKET, BY REGION, 2022–2027 (‘000 UNITS)144
TABLE 98FCEV DIFFERENTIAL MARKET, BY REGION, 2018–2021 (USD MILLION)144
TABLE 99FCEV DIFFERENTIAL MARKET, BY REGION, 2022–2027 (USD MILLION)144
10ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY DIFFERENTIAL TYPE145
10.1INTRODUCTION146
10.1.1RESEARCH METHODOLOGY146
10.1.2ASSUMPTIONS146
10.1.3INDUSTRY INSIGHTS: ELECTRIC & HYBRID VEHICLES, BY DIFFERENTIAL TYPE147
FIGURE 37ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY DIFFERENTIAL TYPE, 2022 VS. 2027 (USD MILLION)147
TABLE 100ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY DIFFERENTIAL TYPE, 2018–2021 (‘000 UNITS)147
TABLE 101ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY DIFFERENTIAL TYPE, 2022–2027 (‘000 UNITS)148
TABLE 102ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY DIFFERENTIAL TYPE, 2018–2021 (USD MILLION)148
TABLE 103ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY DIFFERENTIAL TYPE, 2022–2027 (USD MILLION)148
10.2ELECTRONIC LIMITED SLIP DIFFERENTIAL149
TABLE 104ELSD: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2018–2021 (‘000 UNITS)149
TABLE 105ELSD: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2022–2027 (‘000 UNITS)149
TABLE 106ELSD: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2018–2021 (USD MILLION)149
TABLE 107ELSD: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2022–2027 (USD MILLION)150
10.3LOCKING DIFFERENTIALS150
TABLE 108LOCKING DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2018–2021 (‘000 UNITS)150
TABLE 109LOCKING DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2022–2027 (‘000 UNITS)150
TABLE 110LOCKING DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2018–2021 (USD MILLION)151
TABLE 111LOCKING DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2022–2027 (USD MILLION)151
10.4LIMITED SLIP DIFFERENTIALS151
TABLE 112LIMITED SLIP DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2018–2021 (‘000 UNITS)151
TABLE 113LIMITED SLIP DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2022–2027 (‘000 UNITS)152
TABLE 114LIMITED SLIP DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2018–2021 (USD MILLION)152
TABLE 115LIMITED SLIP DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2022–2027 (USD MILLION)152
10.5OPEN DIFFERENTIALS153
TABLE 116OPEN DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2018–2021 (‘000 UNITS)153
TABLE 117OPEN DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2022–2027 (‘000 UNITS)153
TABLE 118OPEN DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2018–2021 (USD MILLION)153
TABLE 119OPEN DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2022–2027 (USD MILLION)154
10.6TORQUE VECTORING DIFFERENTIALS154
TABLE 120TORQUE VECTORING DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2018–2021 (‘000 UNITS)154
TABLE 121TORQUE VECTORING DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2022–2027 (‘000 UNITS)155
TABLE 122TORQUE VECTORING DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2018–2021 (USD MILLION)155
TABLE 123TORQUE VECTORING DIFFERENTIALS: ELECTRIC & HYBRID VEHICLE DIFFERENTIAL MARKET, BY REGION, 2022–2027 (USD MILLION)155
11AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY COMPONENT156
11.1INTRODUCTION157
11.1.1RESEARCH METHODOLOGY157
11.1.2ASSUMPTIONS157
11.1.3INDUSTRY INSIGHTS: OE BY COMPONENT TYPE158
FIGURE 38AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY COMPONENT TYPE, 2022 VS. 2027 (USD MILLION)158
TABLE 124AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY COMPONENT TYPE, 2018–2021 (‘000 UNITS)158
TABLE 125AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY COMPONENT TYPE, 2022–2027 (‘000 UNITS)159
TABLE 126AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY COMPONENT TYPE, 2018–2021 (USD MILLION)159
TABLE 127AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY COMPONENT TYPE, 2022–2027 (USD MILLION)159
11.2PINION GEARS160
TABLE 128PINION GEARS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)160
TABLE 129PINION GEARS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)160
TABLE 130PINION GEARS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (USD MILLION)160
TABLE 131PINION GEARS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (USD MILLION)161
11.3DIFFERENTIAL HOUSINGS161
TABLE 132DIFFERENTIAL HOUSINGS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)161
TABLE 133DIFFERENTIAL HOUSINGS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)162
TABLE 134DIFFERENTIAL HOUSINGS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (USD MILLION)162
TABLE 135DIFFERENTIAL HOUSINGS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (USD MILLION)162
11.4SIDE GEARS163
TABLE 136SIDE GEARS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)163
TABLE 137SIDE GEARS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)163
TABLE 138SIDE GEARS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (USD MILLION)163
TABLE 139SIDE GEARS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (USD MILLION)164
11.5RING GEARS164
TABLE 140RING GEARS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)164
TABLE 141RING GEARS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)165
TABLE 142RING GEARS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (USD MILLION)165
TABLE 143RING GEARS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (USD MILLION)165
11.6DIFFERENTIAL BEARINGS166
TABLE 144DIFFERENTIAL BEARINGS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)166
TABLE 145DIFFERENTIAL BEARINGS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)166
TABLE 146DIFFERENTIAL BEARINGS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (USD MILLION)166
TABLE 147DIFFERENTIAL BEARINGS: AUTOMOTIVE DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (USD MILLION)167
12AUTOMOTIVE DIFFERENTIAL AFTERMARKET (ICE), BY COMPONENT168
12.1INTRODUCTION169
12.1.1RESEARCH METHODOLOGY169
12.1.2ASSUMPTIONS169
12.1.3INDUSTRY INSIGHTS: AFTERMARKET BY COMPONENT TYPE170
FIGURE 39AUTOMOTIVE DIFFERENTIAL AFTERMARKET (ICE), BY COMPONENT TYPE, 2022 VS. 2027 (USD MILLION)170
TABLE 148AUTOMOTIVE DIFFERENTIAL AFTERMARKET (ICE), BY COMPONENT TYPE, 2018–2021 (‘000 UNITS)170
TABLE 149AUTOMOTIVE DIFFERENTIAL AFTERMARKET (ICE), BY COMPONENT TYPE, 2022–2027 (‘000 UNITS)171
TABLE 150AUTOMOTIVE DIFFERENTIAL AFTERMARKET (ICE), BY COMPONENT TYPE, 2018–2021 (USD MILLION)171
TABLE 151AUTOMOTIVE DIFFERENTIAL AFTERMARKET (ICE), BY COMPONENT TYPE, 2022–2027 (USD MILLION)171
12.2DIFFERENTIAL BEARINGS172
TABLE 152DIFFERENTIAL BEARINGS AFTERMARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)172
TABLE 153DIFFERENTIAL BEARINGS AFTERMARKET (ICE)), BY REGION, 2022–2027 (‘000 UNITS)172
TABLE 154DIFFERENTIAL BEARINGS AFTERMARKET (ICE), BY REGION, 2018–2021 (USD MILLION)172
TABLE 155DIFFERENTIAL BEARINGS AFTERMARKET (ICE), BY REGION, 2022–2027 (USD MILLION)173
12.3DIFFERENTIAL GEARS173
TABLE 156DIFFERENTIAL GEARS AFTERMARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)173
TABLE 157DIFFERENTIAL GEARS AFTERMARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)174
TABLE 158DIFFERENTIAL GEARS AFTERMARKET (ICE), BY REGION, 2018–2021 (USD MILLION)174
TABLE 159DIFFERENTIAL GEARS AFTERMARKET (ICE), BY REGION, 2022–2027 (USD MILLION)174
12.4DIFFERENTIAL GASKETS175
TABLE 160DIFFERENTIAL GASKETS AFTERMARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)175
TABLE 161DIFFERENTIAL GASKETS AFTERMARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)175
TABLE 162DIFFERENTIAL GASKETS AFTERMARKET (ICE)), BY REGION, 2018–2021 (USD MILLION)175
TABLE 163DIFFERENTIAL GASKETS AFTERMARKET (ICE), BY REGION, 2022–2027 (USD MILLION)176
12.5DIFFERENTIAL SEALS176
TABLE 164DIFFERENTIAL SEALS AFTERMARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)176
TABLE 165DIFFERENTIAL SEALS AFTERMARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)177
TABLE 166DIFFERENTIAL SEALS AFTERMARKET (ICE), BY REGION, 2018–2021 (USD MILLION)177
TABLE 167DIFFERENTIAL SEALS AFTERMARKET (ICE), BY REGION, 2022–2027 (USD MILLION)177
13OFF-HIGHWAY VEHICLE DIFFERENTIAL MARKET, BY EQUIPMENT TYPE178
13.1INTRODUCTION179
13.1.1RESEARCH METHODOLOGY179
13.1.2ASSUMPTIONS180
13.1.3INDUSTRY INSIGHTS: OFF-HIGHWAY VEHICLE DIFFERENTIAL MARKET (ICE), BY EQUIPMENT TYPE180
FIGURE 40OFF-HIGHWAY VEHICLE DIFFERENTIAL MARKET (ICE), BY EQUIPMENT TYPE, 2022 VS. 2027 (USD MILLION)181
TABLE 168OFF-HIGHWAY VEHICLE DIFFERENTIAL MARKET (ICE), BY EQUIPMENT TYPE, 2018–2021 (‘000 UNITS)181
TABLE 169OFF-HIGHWAY VEHICLE DIFFERENTIAL MARKET (ICE), BY EQUIPMENT TYPE, 2022–2027 (‘000 UNITS)181
TABLE 170OFF-HIGHWAY VEHICLE DIFFERENTIAL MARKET (ICE), BY EQUIPMENT TYPE, 2018–2021 (USD MILLION)181
TABLE 171OFF-HIGHWAY VEHICLE DIFFERENTIAL MARKET (ICE), BY EQUIPMENT TYPE, 2022–2027 (USD MILLION)182
13.2AGRICULTURAL TRACTORS182
TABLE 172AGRICULTURAL TRACTORS DIFFERENTIAL MARKET, BY DRIVE TYPE, 2018–2021 (‘000 UNITS)182
TABLE 173AGRICULTURAL TRACTORS DIFFERENTIAL MARKET, BY DRIVE TYPE, 2022–2027 (‘000 UNITS)182
TABLE 174AGRICULTURAL TRACTORS DIFFERENTIAL MARKET, BY DRIVE TYPE, 2018–2021 (USD MILLION)183
TABLE 175AGRICULTURAL TRACTORS DIFFERENTIAL MARKET, BY DRIVE TYPE, 2022–2027 (USD MILLION)183
13.2.1TWO-WHEEL DRIVE183
TABLE 1762WD: AGRICULTURAL TRACTORS DIFFERENTIAL MARKET, BY REGION, 2018–2021 (‘000 UNITS)183
TABLE 1772WD: AGRICULTURAL TRACTORS DIFFERENTIAL MARKET, BY REGION, 2022–2027 (‘000 UNITS)184
TABLE 1782WD: AGRICULTURAL TRACTORS DIFFERENTIAL MARKET, BY REGION, 2018–2021 (USD MILLION)184
TABLE 1792WD: AGRICULTURAL TRACTORS DIFFERENTIAL MARKET, BY REGION, 2022–2027 (USD MILLION)184
13.2.2FOUR-WHEEL DRIVE185
TABLE 1804WD: AGRICULTURAL TRACTORS DIFFERENTIAL MARKET, BY REGION, 2018–2021 (‘000 UNITS)185
TABLE 1814WD: AGRICULTURAL TRACTORS DIFFERENTIAL MARKET, BY REGION, 2022–2027 (‘000 UNITS)185
TABLE 1824WD: AGRICULTURAL TRACTORS DIFFERENTIAL MARKET, BY REGION, 2018–2021 (USD MILLION)185
TABLE 1834WD: AGRICULTURAL TRACTORS DIFFERENTIAL MARKET, BY REGION, 2022–2027 (USD MILLION)186
13.3FORKLIFTS186
TABLE 184FORKLIFTS DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (‘000 UNITS)186
TABLE 185FORKLIFTS DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (‘000 UNITS)186
TABLE 186FORKLIFTS DIFFERENTIAL MARKET (ICE), BY REGION, 2018–2021 (USD MILLION)187
TABLE 187FORKLIFTS DIFFERENTIAL MARKET (ICE), BY REGION, 2022–2027 (USD MILLION)187
14AUTOMOTIVE DIFFERENTIAL MARKET, BY REGION188
14.1INTRODUCTION189
14.1.1RESEARCH METHODOLOGY189
14.1.2ASSUMPTIONS190
14.1.3INDUSTRY INSIGHTS: DIFFERENTIAL MARKET, BY DIFFERENTIAL TYPE190
FIGURE 41AUTOMOTIVE DIFFERENTIAL MARKET, 2022 VS. 2027 (USD MILLION)190
TABLE 188AUTOMOTIVE DIFFERENTIAL MARKET, BY REGION, 2018–2021 (‘000 UNITS)190
TABLE 189AUTOMOTIVE DIFFERENTIAL MARKET, BY REGION, 2022–2027 (‘000 UNITS)191
TABLE 190AUTOMOTIVE DIFFERENTIAL MARKET, BY REGION, 2018–2021 (USD MILLION)191
TABLE 191AUTOMOTIVE DIFFERENTIAL MARKET, BY REGION, 2022–2027 (USD MILLION)191
Related Report
