The global all-wheel drive (AWD) vehicle market size is expected to reach US$ 680 billion by 2030 expanding at a CAGR of 5.1% from 2021 to 2030. Increase in global warming across the globe is prompting most vehicle manufacturers to develop efficient vehicle technologies for their vehicles, which in turn is anticipated to boost the all-wheel drive (AWD) vehicle market across the globe.
Technological progression and development of several advanced combustion modes, such as homogeneous charge compression ignition (HCCI), is anticipated to boost the automotive sector, owing to a rise in the demand for high efficiency and low carbon emission. Moreover, advancements in terms of electric vehicle technology are expected to boost the production of electric vehicles (EVs) across the globe, owing to the high demand for vehicles during the forecast period. This, in turn, is projected to propel the all-wheel drive vehicle market, globally.
Market Growth to Dip amid COVID-19 Pandemic
The COVID-19 pandemic is projected to have a strong impact on the global automotive sector. As the novel coronavirus continues to spread, governments across the world are compelled to enforce stringent lockdowns and restrictions on trade and transportation as a measure to contain the virus. The lockdown of industries across China in the first quarter of 2020 has had a strong impact on the global automotive sector due to which, the all-wheel drive (AWD) vehicle market is expected to have a slower growth rate than initial projections. However, as industries across China have opened up, production and other operations have resumed due to which, the market is expected to show minor signs of recovery.
While the automotive sector is expected to stroll through an uncertain period in 2020, the global all-wheel drive (AWD) vehicle market is estimated to grow at a sluggish pace. Disruptions across the supply chain and shortage of automotive components and materials are some of the other factors that are likely to hinder the production of all-wheel drive vehicles amid the ongoing pandemic.
Expansion of All-Wheel Drive (AWD) Vehicle Market
The surge in demand for high performance vehicles across the globe is projected to boost the all-wheel drive (AWD) vehicle market during the forecast period. China witnessed a rise in the production of both IC-engine and electric propulsion enabled vehicles. North America recorded high penetration of utility vehicles in 2018, which continued in 2019, leading the region to account for a significant share of the global all-wheel drive market in 2020.
Based on vehicle type, the global all-wheel drive (AWD) vehicle market has been segmented into passenger vehicle and commercial vehicle. Passenger vehicle is likely to be highly lucrative segment during the forecast period. This is primarily due to the rise in the production of electric passenger vehicles across the globe. Rising adoption of electric vehicles in major developing countries including the U.S., China, Germany, and Japan is expected to propel the all-wheel drive (AWD) vehicle market across the globe.
In terms of technology, the all-wheel drive system (AWD) segment dominated the market. Increase in demand for high performance, fuel-efficient vehicles due to enactment of emission regulation is fueling the demand for AWD vehicles.
Based on propulsion, the IC-engine segment dominated the market, as the production of IC-engine vehicles is higher as compared to that of electric vehicles. However, a rise in preference toward electric vehicles is anticipated to increase the market share held by the electric propulsion segment during the forecast period.
Regional Analysis of All-Wheel Drive (AWD) Vehicle Market
In terms of region, the global all-wheel drive (AWD) vehicle market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America dominated the global all-wheel drive (AWD) vehicle market in 2019. It is anticipated to hold a leading share during the forecast period due to a rise in production and sale of vehicles in the U.S. and Canada. Increased demand for electric vehicles across North America is anticipated to boost the all-wheel drive (AWD) vehicle market in the region.
A few of the prominent players operating in the global all-wheel drive (AWD) vehicle market include AB Volvo, American Axle & Manufacturing, Inc., BorgWarner Inc., Continental AG, Dana Incorporated, GKN Plc., Honda Motor Company Ltd., JTEKT Corporation, Magna International Inc., Nissan Motor Co., Ltd., Tesla, Inc., Valeo SA, and ZF Friedrichshafen AG.
By Vehicle Type
The All-wheel drive (AWD) vehicle market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of All-wheel drive (AWD) vehicle market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global All-wheel drive (AWD) vehicle market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the All-wheel drive (AWD) vehicle market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted All-wheel drive (AWD) vehicle market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the All-wheel drive (AWD) vehicle capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of All-wheel drive (AWD) vehicle by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global All-wheel drive (AWD) vehicle market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major All-wheel drive (AWD) vehicle market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of All-wheel drive (AWD) vehicle market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the All-wheel drive (AWD) vehicle industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
All-wheel drive (AWD) vehicle market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to All-wheel drive (AWD) vehicle market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of All-wheel drive (AWD) vehicle market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new All-wheel drive (AWD) vehicle market. These factors have benefited the growth of the global market for All-wheel drive (AWD) vehicle. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for All-wheel drive (AWD) vehicle. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of All-wheel drive (AWD) vehicle are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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