About Multi-wheel Drive Systems
Multi-wheel drive systems comprise 4 x 4 drive systems and all-wheel drive (AWD) systems. Advancement in technology and emphasis on research and development has given a new face to these systems. At present, AWD systems have been classified into automatic and manual systems.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 4.1% |
Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Multi-wheel Drive Systems market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Magna International (Canada), Continental (Germany), American Axle and Manufacturing Holdings (United States), GKN Plc (United Kingdom), Oerlikon, Inc. (Argentina), ZF Friedrichshafen (Germany), BorgWarner, Inc. (United States) and Dana Holding Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Eaton Corporation (Ireland) and JTEKT Corporation (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Multi-wheel Drive Systems market by Type (2 Wheel Drive and All-Wheel Drive), Application (Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles) and Region.
On the basis of geography, the market of Multi-wheel Drive Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Transmission Type, the sub-segment i.e. Manual MWD will boost the Multi-wheel Drive Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rise in Safety Standards Drives AWD Systems Market Growth
Market Growth Drivers:
Rising Need for Fuel-Efficiency, Control and Stability in Heavy Vehicles and Increased Safety Awareness Across the World and Affordability of Multi-wheel Drive Systems Have Led to the Rise in Demand for the Same
Challenges:
Lack of Awareness among consumer above multi-Wheel
Restraints:
Lack of Awareness Regarding Manual and Automatic Multi-wheel Drive System
Opportunities:
Automatic AWD System
Market Leaders and their expansionary development strategies
In May 2023,The Yokohama Rubber Co., Ltd., announced that it has completed the acquisition of all outstanding shares of Trelleborg Wheel Systems Holding AB (hereinafter, TWS), a Swedish company engaged in the manufacture and sale of off-highway tires (hereinafter, OHT) for agricultural and industrial machinery, from Trelleborg AB, which was previously announced on March 25, 2022.
In March 2022,Borgwarner Inc signed a supply contact with Hyundai under the contract BorgWarner Inc ,Supply an integrated drive module,
Key Target Audience
Manufacturing, Provider, Supplier and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.