Four-Wheel Drive Vehicles (4WD) Market to grow at highest compound annual growth rate from 2018 to 2023, according to “Global Rear-View Mirror Market Size, Share, Trends, Growth and Regional Forecast Industry Report” published by Market Research Future. This report comprises comprehensive information on Four-Wheel Drive Vehicles (4WD) Market Forecast data up to 2023, with historic and current market information. Four-Wheel Drive Vehicles (4WD) Market Industry analysis done by product type (Standard 4WD, and Premium 4WD), by Application (HCVs, and SUVs), by End-Use (Road racing, heavy trucks, and construction equipment) and Region. —
Global Four-Wheel Drive Vehicles (4WD) Market Highlights:
The Four-Wheel Drive Vehicles (4WD) market is highly price sensitive. Customers prefer vehicles that provide the maximum value for money. At the same time, the cost of four-wheel drive systems increases the cost of the automobile. Therefore, to focus on achieving cost efficiency, is a major objective of the manufacturers.
The demand for four-wheel drive vehicles is expected to increase with significant growth rate all over the world, majorly in the emerging markets. The development of the intelligent torque vectoring for four-wheel drive vehicles is driving the growth of the market. The introduction of technological innovations in these vehicles is enabling the integration of advanced systems in automotive four-wheel drive vehicles. Torque vectoring is a system that helps the vehicle to possess control over the power and torque distribution to all the wheels.
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Four-Wheel Drive Vehicles (4WD) Market Key Companies Studied in this report are: Daimler AG (Germany), Mitsubishi Motors Corporation (Japan), BMW (Germany), Toyota Motor Corporation (Japan), Ford Motor Company (U.S.), and Groupe Renault (France). Tata Motors Limited (India), Hyundai Motor Company (South Korea), Volkswagen AG (Germany), Volvo (Sweden), Fiat S.p.A (Italy), Nissan Motor Company Ltd (Japan), and Honda Motor Company, Ltd. (Japan) are among others.
However, the growth of this market is expected to be restrained by the increase in cost of the vehicles owing to the implementation of four-wheel drive systems, which comprises differentials, transfer case, rear-drive shaft, rear axle, and advanced electronics in the automotive. Therefore, the four-wheel drive vehicles market has seen remarkable growth in the global market and it has been observed that, it is expected to grow with the CAGR of ~6%.
Market Segments Analysis:
On the basis of product type, the market has been segmented as Standard 4WD and Premium 4WD. Amongst these, the standard 4WD vehicle market is expected to grow with the highest CAGR over the forecast period owing to the steady growth of the light vehicle market. This growth of light vehicles in emerging economies is expected to account for majority of the share in overall automobile sales, leading to the growth of the four-wheel drive vehicle market.
On the basis of end-use, the market has been segmented as road racing, heavy trucks, and construction equipment. Amongst these, the heavy trucks segment is expected to grow the highest over the forecast period. Heavy trucks are considered LCVs with open cargo areas at their rear. The heavy trucks have off-road capabilities with differently tuned transmission, suspension systems and engines. The increase in demand for heavy trucks in countries such as U.S., Canada, and China are contributing in the growth of the automotive four-wheel drive vehicles market. The global automotive four-wheel drive vehicle market is also witnessing growth due to the increase in personal use of these vehicles.
On the basis of application, the market has been segmented as HCV and Sports utility Vehicles (SUVs). The boom in the sales of SUVs, globally is expected to drive the market for four-wheel drive systems for automotive. Their growing popularity and increase in use for personal purposes is driving the growth of the SUV segment in the global four-wheel drive vehicles market.
On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. The global four- wheel drive vehicle market is diversified across all geographies, with North America region holding the major share of the market. The market in North America is mainly based in the countries such as the U.S. and Canada. The North America market is followed by the Asia Pacific region.
Market Research Future (MRFR) employs innovative statistical algorithms for gathering impactful market insights that can drive business decisions. An in-depth analysis of constantly evolving market trends combined with a study of historical data is leveraged for providing accurate competitive intelligence. The statistical observations made in our reports are backed by data procured through extensive primary and secondary research which include interviews with stakeholders, SEC filings, whitepaper references, annual reports of key players, etc. Top-down and bottom-up approaches are employed for authenticating the credibility of the market foresight delivered. A multi-layer verification process reaffirms the market size and revenue estimation. MRFR strives to provide reliable and transparent information that helps clients in developing growth strategies.
The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Table Of Contents:
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Stud
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4.2 Forward Collision Warning
4.3 Dynamic Brake Support
4.4 Crash Imminent Braking
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