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Limited slip differential is a part of an automotive drive system. It is similar to an open differential. However, instead of utilizing a powered pinion gear, it makes use of an integrated clutch system. When the wheel loses traction, the clutch mechanism locks the right and left sides of the axle. This design is highly preferred for high-performance vehicles such as those used for drag racing, commercial vehicles, and vehicles utilized to tow heavy loads. The wheels' differential functions are controlled by the electric limited slip differential, such as improving steering performance when circling at high speed, increasing launching performance, and preventing slipping on rainy or snowy roads due to the dissimilar friction of the left and right wheels. The vehicle is able to drive over terrain and road conditions that a conventional axle is unable to because the electric limited-slip differential system distributes torque across the axle. The system is active at all times and requires no input from the driver. The electric limited-slip differential enhances vehicle stability during trailer towing operations. They work by shifting a portion of the torque to the wheel with the most traction while limiting the slip on the wheel with the least traction. Because of this, limited slip differentials are often referred to as torque sensors.
The factors that are responsible for market expansion include rising vehicle production and the expansion of the automotive industry. The electric limited slip differential market has revolutionized mobility in Europe by making it faster, safer, and less expensive at the same time. In addition, rising developments in all-wheel drive (AWD) for upcoming passenger cars and rapid urbanization are driving the growth of the market. A limited slip differential increases a car's power and speed by utilizing engine power more efficiently, thus allowing for a smoother and more enjoyable drive. These are the factors that are responsible for electric limited-slip differential market expansion in the coming year.
The market is expected to have new opportunities with technological advancements and ongoing R&D activities to develop quality electric limited slip differential products. This is expected to provide ample new growth opportunities in the market during the forecast period. With a capacity that exceeds one-third of European vehicle production, 41 automotive assembly and engine manufacturing plants are located in Germany. Numerous German companies are experimenting with new composites that can reduce the vehicle's total weight to a great extent. The electric limited slip differential market provides freedom and access to mobility while making it increasingly time-efficient, safer, and more affordable. Furthermore, the increased development of additive manufacturing technologies, and the increased use of materials to make bearings are the variables that create lucrative opportunities, resulting in the expansion of the electric limited slip differential market in the forecast period.
The absence of suitable technologies is anticipated to be a major constraint on market expansion in European countries. Additionally, the amount of torque that can be transferred to the wheel with traction is limited in comparison to a locking differential. Therefore, the maintenance cost is higher than open differentials, which may restrain market growth. These are the factors that are expected to hamper market growth over the foreseen period.
A key challenge that may affect the growth of the market is the cost. The limited slip differentials cost more than traditional open differentials and require more maintenance and care to ensure they're in top condition. On the other hand, the issues regarding developing and providing electronics that ensure safety, along with the decrease in automotive production and sales, are projected to pose a major challenge to the market's growth rate. These are the major factors that are expected to pose key challenges for market growth over the forecast period. Another key challenge for a limited slip differential over a locking differential is that it can only transfer a limited amount of torque to the wheel with traction. Since they cannot provide 100% lockup, during extreme situations (i.e., complete loss of traction at one wheel), there may not be enough torque to the wheel with traction to move the vehicle.
The report provides an in-depth analysis of Europe electric limited slip differential market, market size, and compound annual growth rate (CAGR) for the forecast period of 2023-2029, considering 2022 as the base year. A rise in demand for electric limited slip differential in various applications is anticipated to stimulate the growth of the market and due to this factor, the market is expected to witness growth at a specific CAGR from 2023-2029.
By drive type, the Europe electric limited slip differential market includes key segments like
On the basis of drive type, the Europe electric limited slip differential market is segmented into front wheel drive (FWD), rear wheel drive (RWD), all-wheel drive/four-wheel drive (AWD/4WD). The all-wheel drive/four-wheel drive (AWD/4WD) segment holds the major shares in the Europe electric limited slip differential market over the foreseen period. One of the biggest benefits of a 4-wheel drive is increased space and capacity. In addition, a vehicle with four wheels provides more space and capacity. The expanded footing is possible with four driven wheels, which is particularly valuable on soft or slippery ground. It provides you with additional traction.
By vehicle type, the Europe electric limited slip differential market includes key segments like
On the basis of vehicle type, the European electric limited slip differential market is divided into passenger cars, light commercial vehicles, heavy commercial vehicle, off-highway. The passenger car segment dominates the electric limited slip differential market in this region over the forecast period. Rapid urbanization, rising disposable income, and improving economic conditions are all contributing factors to the expansion of the market in the European region.
By component, the Europe electric limited slip differential market includes key segments like
On the basis of component, the Europe electric limited slip differential market divided into differential bearing, differential gear, differential case. The differential bearing segment hold the majority of shares over the foreseen period. It reduces the loss of driving force. The differential gear is a device that changes the driving force from the transmission into an even greater driving force and enables different numbers of rotations for the left and right wheels.
By propulsion, the Europe electric limited slip differential market includes key segments like
On the basis of propulsion, the Europe electric limited slip differential market has been segmented into I.C. engine vehicles, electric vehicles, and hybrid vehicles. The electric vehicle segment holds the majority of shares over the foreseen period. EVs are cheaper and more efficient than others. In addition, increasing consumer demand for electric vehicles is contributing to market expansion in this region. The EV can be powered by an electric motor that draws electricity from a battery and can be charged from an external source.
The Europe electric limited slip differential market is studied for the following countries
The Germany are projected to hold the majority of shares during the forecast period. This is due to the fact that most major auto manufacturers are located in this region. In addition, they are early adopters of emerging trends and technologies and are the world's second-most important manufacturing centre for auto parts. Germany is the world’s premium car production hub. In 2021, German automotive companies will have spent almost EUR 28.3 billion on internal R&D projects more than any other domestic manufacturing sector. In addition, increasing demand for passenger vehicles within this region, comfort driving, and stringent automotive safety norms also contribute to the market's growth over the forecast period.
Axiom MRC provides a 360-degree analysis of micro and macro-economic factors on the Europe electric limited slip differential market. In addition, complete analysis of changes on the Europe electric limited slip differential market expenditure, economic and international policies on supply and demand side is provided in this exclusive report. The report also studies the impact of pandemic on Europe economies, international trade, business investments, and GDP and marketing strategies of key players present in the market.
Many economies suffered as a result of the COVID-19 pandemic. Complete lockdown and quarantine had a negative impact on numerous industries. Throughout the initial stages of the COVID-19 pandemic, manufacturing facilities all over the world were shut down. At various stages, the COVID-19 pandemic had a significant impact on the European economy, as well as demand for electric limited slip differentials. Strict restrictions introduced by the respective governments to control the spread of the pandemic created several roadblocks for certain markets, whereas the same factors provided an enormous opportunity for others. During the pandemic, the supply chain was hampered as logistics activities were delayed. This COVID-19 outbreak affected demand, supply, price, vendor adoption, and sustainable outcomes. However, the growth has been high after the market opened after COVID-19, it is expected that there would be considerable growth in the sector, owing to rising vehicle production and the expansion of the automotive industry in this region.
The competitive landscape analysis of electronic limited slip differential market is primarily focused on expanding the country level growth of electronic limited slip differential industry with new product innovation, business expansion, increasing presence of range of manufacturer operating in electronic limited slip differential sector has led the growing demand for the market. Besides, the market offers range of products in different application to fulfil the required demand of consumer which is further contributing healthy growth in the market.
The key players studied in market are
August 2020: Eaton introduced InfiniTrac, an electronically controlled, hydraulically actuated, variable-bias limited-slip differential. It delivers optimized vehicle performance at any speed and traction condition with a wide range of functionality for passenger vehicles.
By drive type, the Europe electric limited slip differential market is segmented into front wheel drive (FWD), rear wheel drive (RWD), all-wheel drive/four-wheel drive (AWD/4WD). The all-wheel drive/four-wheel drive (AWD/4WD) segment holds the major shares in the Europe electric limited slip differential market over the foreseen period. By vehicle type, the Europe electric limited slip differential market is divided into passenger car, light commercial vehicle, heavy commercial vehicle, off-highway. The passenger car segment dominates the Europe electric limited slip differential market over the forecast period. By component, the Europe electric limited slip differential market divided into differential bearing, differential gear, differential case. The differential bearing segment hold the majority of shares over the foreseen period. By propulsion, the Europe electric limited slip differential market has been segmented into I.C. engine vehicles, electric vehicles, and hybrid vehicles. The electric vehicle segment holds the majority of shares over the foreseen period. The Europe electric limited slip differential market is studied for region: The UK, Germany, France, Spain, Italy, and the Rest of the Europe. Germany is projected to lead the market during the forecast period.
| Market
Sizing for Year: | 2019-2029 |
| Base
Year: | 2022 |
| Forecast
Period: | 2023-2029 |
| Value: | USD million |
| Market
Segment studied: | By Drive Type Vehicle Type Component Propulsion |
| Market
Players and its Competitors: | Dana Incorporated (United States) American Axle &
Manufacturing Inc. (AMM) (United States) BorgWarner Inc. (United States) Continental AG (Germany) GKN Plc (United Kingdom) Eaton Corp. Plc (Ireland) Hyundai Wia Corporation (South Korea) Linamar Corporation (Canada) Neapco Holdings (United States) Drexler Automotive (Germany) RT Quaife Engineering
Ltd.
(United Kingdom) Melrose Industries Plc (United States) Schaeffler Group (Germany) |
