OEMs are constantly launching vehicles by integrating intelligent-AWD technology. With the help of sensors, this technology tracks and adjusts the functions of the vehicle by detecting type of road. Vehicles incorporated with intelligent-AWD technology require vehicle transfer case for synchronization purposes. Therefore, growing number of AWD vehicle sales is likely to create significant growth opportunities for vehicle transfer case market.
HEVs and PHEVs to Drive Revenue Growth of Vehicle Transfer Case Market In Developing Regions
Asia-Pacific vehicle transfer case market has been witnessing surging demand for PHEVs and HEVs owing to increasing government incentives, rapid growth in charging infrastructure and strict emission norms. For instance, the government of France announced subsidies on purchase of HEV and PHEV vehicles, which in turn drives revenue growth of vehicle transfer case market. Increasing number of production operations taken up within the region is likely to drive the need for commercial vehicles, which in turn fuels North America vehicle transfer case market growth. For instance, Walmart has been planning to shift procurement and production related operations from China to US by 2023. This in turn generates nearly 5,000 employment opportunities in the region.
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Volatile Climatic Conditions to Burgeon Sales Growth of Vehicle Transfer Case Market
Rising consumer preference for towards advanced towing capacity, transaction, toque transmission and acceleration is expected to accelerate the growth of vehicle transfer case market. Recent penetration of all-wheel drive (AWD) in the premium sedans are expected to drive the revenue growth of vehicle transfer case market. Growing demand for traction and safety in extreme surface or weather conditions along with demand for easy maneuverability further drives the sales growth of vehicle transfer case.
Chain vehicle transfer case have been replacing the gear vehicle transfer case due to their light-weight, smooth transmission and quiet operation. However, gear vehicle transfer case are witnessing growing demand from construction and farming industries as well as on-road HCV such as military trucks and garbage trucks. With surging demand for the battery electric vehicles, revenue growth of vehicle transfer case is likely to decline in the near future.
Acquisitions to Be the On-Going Strategy of Vehicle Transfer Case Market Players
Manufacturers in vehicle transfer case market are taking immense efforts in developing efficient and advanced torque transferring products for maintaining pace with the competitors, thereby catering to customer needs.
- Magna International: Magna has entered into an agreement for acquiring Haptronik GmbH that helps in enhancing feel and control of power systems. This in turn elevates the position of Magna in mechatronics products, thereby benefitting vehicle transfer case market in the long run. This deal also helps the vehicle transfer case market player in taking liftgates and power doors to advanced and innovative levels.
- CARDONE Industries, Inc.: CARDONE recently announced recapitalization of its present credit facilities with Brookfield Asset Management and Citizens Bank. This in turn is expected to benefit the company with expansion of its innovation and remanufacturing capabilities, thereby boosting its global footprint.
- BorgWarner Inc.: BorgWarner lately introduced Commercial Vehicle Starter – 31MT™, for its product portfolio of Delco Remy® Genuine Products. This product offers increased performance, durability and reliability for commercial vehicles with medium-duty. The key features of this product is its design improvements as well as 10% more power compared to other products. This in turn creates significant growth opportunities for vehicle transfer case market with growing sales of commercial vehicles.
Segmentation of Vehicle Transfer Case Market Has Been Done Based On Sales Channel, Type, Drive Type, Shift Type and Vehicle Type
By sales channel, vehicle transfer case market is categorized into
- OEM (Original Equipment Manufacturer)
By type, vehicle transfer case market is categorized into
- Four Wheel drive (4WD)
- All-Wheel drive (AWD)
By drive type, vehicle transfer case market is categorized into
By shift type, vehicle transfer case market is categorized into
- Manual shift
- Electric shift
By vehicle type, vehicle transfer case market is categorized into
- Electric Vehicle
- Pure Electric Vehicle
- Plug in hybrid electric vehicle (PHEV)
- Battery electric Vehicle (BEV)
- Off-highway Vehicle
- Constructional equipment
- Heavy Commercial Vehicle (HCV)
- Light Commercial Vehicle (LCV)
- Passenger Car
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