Automotive Differential Market Growth Analysis & Forecast Report | 2023-2032

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Automotive Differential Market Growth Analysis
Forecast Report 2023-2032
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• Industry Insights

• As per the report, the rapidly expanding
  automotive sector globally is working in favor of
  industry growth. A commendable surge in vehicles
  on the road has increased the demand for improved
  traction and stability. Automotive differentials,
  such as limited-slip differentials or locking
  differentials, enhance traction by distributing
  power to the wheels with the most grip. This is
  especially important in off-road vehicles,
  performance vehicles, and those used in
  challenging driving conditions. Moreover, the
  rapid expansion of the off-road vehicle industry
  will further propel industry growth.
• Based on the differential, open differential
  market share will grow at over 3 CAGR from 2023
  to 2032. Owing to the cost-effectiveness of open
  differentials, they have gained widespread
  traction. Additionally, they offer better
  maneuverability in low-traction situations, such
  as on slippery or uneven surfaces.

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• In terms of propulsion, automotive differential
  market value from the internal combustion engine
  (ICE) segment will reach over USD 20 billion by
  2032. Internal combustion engines are relatively
  cost-effective compared to electric powertrains
  and other counterparts adding to their popularity
  over the years.
• Automotive differentials offer opportunities for
  customization and performance upgrades in
  internal combustion engine vehicles. Moreover,
  they have gained popularity in internal
  combustion engine vehicles due to their
  significant contributions to traction, handling,
  performance, off-road capability, and towing
  capacity.

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• Regional Analysis

North America automotive differential market will
be worth over USD 8.5 billion by 2032. Growing
investments by the government for the expansion
of electric vehicle infrastructure will shape the
regional landscape. In April 2023, the U.S.
government announced new public and private
sector investments in affordable electric
vehicles. Moreover, the region is also home to
prominent automotive differential manufacturers
such as Dana Incorporated and others constantly
investing in product innovations.

• Competitive Analysis

• GKN Automotive, Eaton Corporation, ZF
  Friedrichshafen AG, Borgwarner Inc, AAM (American
  Axle Manufacturing), Dana Incorporated, Magna
  International Inc., AVL List GmbH, and Timken
  Company.

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