The global automotive four-wheel drive vehicle market is forecast to grow at a CAGR of 11.34% during the period 2017-2021.
The report, Global Automotive Four-wheel Drive Vehicle Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
One trend in the market is development of intelligent torque vectoring for AWD. The advent of technological innovations is enabling the integration of advanced systems in automotive 4WD. Torque vectoring is one such system that helps the vehicle have control over the power and torque distribution to individual wheels. This provides better vehicle stability, improved performance, and superior handling characteristics.
According to the report, one driver in the market is booming global SUV market with growing volume sales. In 2016, sales in the global automotive industry skyrocketed in almost every class of vehicles. Of all the vehicle categories and segments, SUVs and crossovers exhibited the highest sales growth. Pickup trucks also form one of the fastest growing segments with their growing popularity and increased usage for personal purposes. In the US, the sales of SUVs and crossovers increased by about 10% in the overall passenger car market in 2015.
Further, the report states that one challenge in the market is advanced 4WD increasing the overall vehicle cost. The automotive 4WD system involves the use of advanced materials, parts, and components for its development and manufacturing. The basic setup involves differentials, transfer case, rear-drive shaft, rear axle, and advanced electronics. The other important components, such as the torque vectoring system and limited-slip differentials, are some of the advanced functionalities that are used in premium and luxury segment of SUVs and sedans.