Transfer Case Market Worth 20.33 Billion USD by 2025
PUNE, India, December 19, 2017 /PRNewswire/ --
According to a new market research report "Transfer Case Market by Drive Type (Chain, Gear Driven), Shift Type (Electronic, Manual), Type (AWD, 4WD), Off-Highway (Construction Equipment, Farm Tractor), Ice & Hybrid Vehicle (Passenger Car, LCV, HCV, HEV, PHEV), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the market is estimated to be USD 9.79 Billion in 2017 and is projected to reach USD 20.33 Billion by 2025, at a CAGR of 9.56% during the forecast period. The market is primarily driven by the increased sales of SUVs and premium sedans across the globe. These vehicles are equipped with AWD systems and offer benefits such as better traction in extreme weather or surface conditions, skid resistance, and better maneuverability.
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Browse 91 market data Tables and 56 Figures spread through 147 Pages and in-depth TOC on "Transfer Case Market - Global Forecast to 2025"
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AWD system to be the fastest growing segment of the Transfer Case Market
The all-wheel drive (AWD) market is estimated to be the largest market for transfer case during the forecast period. Asia Pacific is estimated to witness the fastest growth for the AWD and 4WD markets. With the majority of SUVs and premium sedans offering AWD, the Transfer Case Market for AWD is estimated to be larger as compared to 4WD.. A modern smart AWD offers several advantages over 4WD such as an automotive shift from 2WD to 4WD or vice versa as per the road requirement.
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Construction equipment Transfer Case Market is estimated to be the largest market in the off-highway segment
The report classifies the off-highway Transfer Case Market into construction equipment and farm tractors. The Transfer Case Market for construction equipment is estimated to be the largest in the off-highway segment. Construction equipment with AWD or 4WD have better traction. Some of the different types of construction equipment which offer AWD or 4WD are backhoe loaders, articulated haulers, and wheel loaders. Some examples of models with transfer case are Caterpillar 434F2, 12 M2 AWD, Volvo A30D with D10 engine, and Komatsu WA320-7. The four-wheel drive is offered in tractors with a power output of >100 HP.
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Asia Pacific is estimated to be the largest market for transfer case owing to its huge vehicle production and increasing demand for high-performance SUVs
Asia Pacific is estimated to be the largest market for transfer case. The market growth in the region can be attributed to the huge vehicle production and increasing demand for high-performance SUVs. Leading OEMs that are launching vehicles equipped with 4WD/AWD in the Asia Pacific region are Toyota, Subaru, and Mitsubishi. Subaru Forester, Mitsubishi Outlander, and Toyota RAV4 are some of the topselling SUVs in the Asia Pacifc region. OEMs such as Subaru and Mitsubishi have also offered AWD in their sedan models such as Impreza and Lancer.
The Transfer Case Market is dominated by a few global players. Some of the key manufacturers operating in the market are BorgWarner (US), Magna (Canada), GKN (UK), ZF (Germany), Aisin Seiki (Japan), Dana (US), American Axle & Manufacturing (US), JTEKT (Japan), Schaeffler (Germany), and Meritor (US) to name a few.
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