Vehicle Power Differential Casing Market Segmentation And Forecast To 2030

 

• Vehicle power differential casing is used to cover the gear assembly that supplies power to the wheels. The vehicle power differential is a part of the drivetrain and is responsible for the transfer of the drive from the engine to the wheel hubs.

Key Drivers of Vehicle Power Differential Casing Market

• Power differential is a critical part of a vehicle and it is used across all vehicle classes; therefore, the demand for power differential casing is considerably high in the market.
• Rise in preference for SUVs is boosting the demand for vehicle power differential casing. AWD and 4WD vehicles have a rear differential and transfer case, which necessitates the use of casing. Rise in demand for AWD and FWD vehicles and an increase in the number of youth consumers is boosting the sales of SUVs and consequently, driving the global vehicle power differential casing market.

Challenges of Vehicle Power Differential Casing Market

• A front-wheel drive vehicle has a differential integrated into the transmission assembly. Thus, there is no need for independent differential unit, which is a restraint for the global vehicle power differential casing market.

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OEM segment to hold leading share of the global vehicle power differential casing market

• Vehicle power differential casing are OE fitted and consequently, the OEM segment held a leading share of the global vehicle power differential casing market in 2019. Increase in sales of new vehicles is boosting the OE demand for vehicle power differential casing. The aftermarket segment held a considerable share of the market owing to the need for replacement of the casing due to accidental damage. Rise in the average age of vehicles, globally, and an increase in number of miles driven is boosting the demand for maintenance of vehicles, which in turn drives the global vehicle power differential casing market.

Asia Pacific to hold dominant share of global vehicle power differential casing market

• Asia Pacific held a leading share of the global vehicle power differential casing market owing to high volume production of passenger and commercial vehicles in China, India, Japan, and South Korea. The market in Latin America is projected to expand significantly during the forecast period owing to the expansion of the automotive industry in Mexico and Brazil.

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Key Players Operating in Vehicle Power Differential Casing Market

The global vehicle power differential casing market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the global vehicle power differential casing market are:

• Kranti Industries Limited
• MAT Foundry Group Ltd.
• Progressive Gear Industries (P) Ltd.
• EMAG GmbH & Co., KG.
• Embros AutoComp Limited