Global Automotive Multi-Wheel Drive Systems Industry
- September 2020 •
- 276 pages •
- Report ID: 5818506 •
- Format: PDF
Amid the COVID-19 crisis, the global market for Automotive Multi-Wheel Drive Systems estimated at 17.5 Million Units in the year 2020, is projected to reach a revised size of 27.3 Million Units by 2027, growing at a CAGR of 6.5% over the analysis period 2020-2027. Passenger Car, one of the segments analyzed in the report, is projected to record a 6.7% CAGR and reach 18.6 Million Units by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the LCV segment is readjusted to a revised 6.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at 4.7 Million Units, While China is Forecast to Grow at 9.9% CAGR
The Automotive Multi-Wheel Drive Systems market in the U.S. is estimated at 4.7 Million Units in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 5.9 Million Units by the year 2027 trailing a CAGR of 10% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 5.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR.
HCV Segment to Record 5.8% CAGR
In the global HCV segment, USA, Canada, Japan, China and Europe will drive the 5.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of 2.7 Million Units in the year 2020 will reach a projected size of 3.9 Million Units by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 3.7 Million Units by the year 2027, while Latin America will expand at a 7% CAGR through the analysis period. We bring years of research experience to this 6th edition of our report. The 276-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others,
- GKN Driveline
- JTEKT Corporation
- ZF Friedrichshafen AG