New York, July 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Transfer Case Market: Segmented: By Drive Type, By Shift Type, By Application, By Vehicle type And Region – Global Analysis of Market Size, Share & Trends For 2019–2020 And Forecasts To 2031" - https://www.reportlinker.com/p06288777/?utm_source=GNW
The transfer case uses drive shafts to transfer energy from the devices from the front & rear axles. Gear, hydraulic systems, or chain drives are used for transmission. Because the axles operate at different speeds due to differences in tire diameters, a transferring case is used to synchronize the revolutions between the rear and front axles. It is neutral in two-wheel drive, and the engine’s revolution is transmitted through the transmission to the rear driveshaft and the rear wheels. The transfer case of a four-wheel-drive vehicle has gears & drives in the front driveshaft to operate the front axle.
Market Highlights
The global Transfer Case market is expected to project a notable CAGR of 10.5% in 2031.
Higher fuel usage with the help of modern and smart AWD that produces 2WD or AWD depending on the vehicle requirement boosted sales of hybrid sector vehicles are equipped with AWD, & recent adoption of AWD in luxury sedans is projected to boost the transfer case industry.
Global Transfer Case: Segments
AWD segment to grow with the highest CAGR during 2021-31
Based on type global Advanced tiers are categorized into all-wheel drive (AWD), the front-wheel-drive (FWD), or the rear-wheel-drive (RWD). Automotive production has evolved technically in the areas of powertrain, safety, and stability to improve the vehicle’s operational efficiency. Buyers of automobiles anticipate higher-end driving operations to be more output-efficient and give optimal performance. End-user demand has also changed, with more luxury, relaxation, and driving dynamics. To reach higher standards of protection and vehicle dynamics, end-user demand is pushing the demand for 4WD & AWD vehicles. To match the particular needs of the users, OEMs are focusing their efforts on various drive systems. In recent years, the adoption of AWD and 4WD cars has increased considerably, so this trend is projected to continue.
Electronic shift on the fly segment to grow with the highest CAGR during 2021-31
The global advanced tires market is segmented based on shift type into MSOF (Manual Shift on the fly) transfer case and ESOF (Electronic shift on the fly) transfer case. Due to the increasing deployment of advanced electronics technology in current autos, the ESOF (electronic shift on the fly) transfer case is expected to grow at a quicker rate. The expanding need for comfort and safety in modern automobiles, as well as the increasing adoption of hybrid and electric vehicles, will be the primary driving forces behind the ESOF transfer case. The electronics shift on the fly is regarded to be an efficient technique to select between two-wheel-drive & four-wheel-drive, as well as choosing various gear chain-driven ranges. In comparison to its shift paddles on the fly equivalents, this technology provides improved traction and stability.
Market Dynamics
Drivers
Increased use of all-wheel-drive and four-wheel-drive vehicles
Buyers of automobiles anticipate higher-end driving operations to be more output-efficient and give optimal performance. Furthermore, end-user demand has altered to include more luxury, relaxation, and driving dynamics. End-user demand is pushing sales of 4WD & AWD vehicles to achieve higher levels of safety and vehicle dynamics. OEMs are concentrating their efforts on these drivetrains to meet the changing needs of end consumers. The use of AWD and 4WD cars has expanded dramatically in recent years, and this trend is projected to continue in the years ahead. The driving operations of these drive systems need the use of a transfer case. As a result, rising AWD & 4WD vehicle penetration is predicted to raise demand for transfer cases, boosting the market growth.
Environment & fuel efficiency regulations are being implemented
Consumer and regulatory demands are disrupting the care sector, which is being met with new technology advances. At the moment, the automobile industry is concentrating on reducing vehicle weight while improving fuel efficiency and lowering emissions. Transfer cases have recently become a critical component in the vehicle industry as a result of these new requirements. Many developing countries have recently adopted severe Corporate Average Fuels Efficiency or Economy (CAFE) requirements. These standards are aimed at increasing vehicle fuel efficiency and minimizing CO2 emissions. As a result, most automakers are incorporating sophisticated transfer cases into their vehicles to attain the same goal.
Restraint
High deployment Cost
Transfer case for power systems is not present in battery electric vehicles. As a result, the market for transfer cases may be hampered by growing demands for battery electric vehicles. In numerous places, the use of BEV is expanding year after year. The rising popularity of these automobiles will have an immediate influence on the market.
Global Transfer Case: Key Players
American Axle & Manufacturing Inc.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
BorgWarner Inc.
HYUNDAI WIA CORPORATION
Linamar Corporation
Magna International Inc.
Marmon Holdings, Inc.
Melrose Industries Plc.
Meritor Inc.
Univance Corporation
ZF Friedrichshafen AG
Other Prominent Players
Global Transfer Case: Regions
The global Transfer Case market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. APAC is the largest marketplace for transfer cases. The economies of large countries have a significant impact on APAC’s economy. The governments in these countries are vigorously establishing a regulatory framework to minimize automotive emissions and fuel usage. A large percentage of passenger cars in overall vehicle production, as well as a growing preference for Sport Utility Vehicle, are driving the Asia Pacific market. While adoption of transfer cases in passenger vehicles in this region is estimated to rise during the forecast period. The market’s growth can be attributed to the huge increase in the production of high-performance SUVs with 4WD or AWD that provide improved safety and comfort.
Impact of Covid-19 on Transfer Case Market
Due to travel limits and the predicted dismal financial performance of players in the market in 2020, the spreading of the Covid-19 outbreak has had a negative influence on the worldwide transfer case industry. Supply chain executions, regulatory and policy changes, labor dependency, working capital management, & liquidity, and solvency management are the primary risk considerations for transfer case market participants. The second wave of COVID-19 was more severe than the first wave in February 2021, and it is projected to have a bigger negative influence on the overall economic outlook. Following the COVID-19 health crisis, the global corporate perspective shifted radically.
Global Transfer Case is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
the Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
The global Transfer Case report also contains an analysis on:
Transfer Case Segments:
By Drive Type
Gear-Driven
Chain-Driven
By Shift Type
MSOF (Manual Shift on the fly) transfer case
ESOF (Electronic shift on the fly) transfer case
By Application
All-wheel drive (AWD)
Front-wheel drive (FWD)
Rear-wheels drive (RWD)
Vehicle Type
ICE Passenger Car
ICE Commercial Vehicle
Hybrid Vehicles
Off-highway Vehicles
Transfer Case Dynamics
Transfer Case Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Transfer Case Report Scope and Segmentation
Report Attribute Details
The market size value in 2021 13.6 billion
The revenue forecast in 2031 36.8 billion
Growth Rate CAGR of 10.5 % from 2021 to 2031
The base year for estimation 2020
Quantitative units Revenue in USD million and CAGR from 2021 to 2031
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Drive Type, Vehicle Type, Application, Shift Type, and Region
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled BorgWarner Inc., HYUNDAI WIA CORPORATION, Linamar Corporation, Magna International Inc., Marmon Holdings, Inc., Melrose Industries Plc., Meritor Inc., Univance Corporation, ZF Friedrichshafen AG and Other Prominent Players.
Read the full report: https://www.reportlinker.com/p06288777/?utm_source=GNW
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