New York, US, March 01, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), “Four-Wheel Drive Vehicles Market Information by Product Type, Application, End-Use, and Region - Forecast till 2030”, From 2022 to 2030, the market for four-wheel drive vehicles can attain a growth rate of 6%, says MRFR.
Four-Wheel Drive Vehicles Market Overview
Four-wheel drive, often known as 4/4 or 4WD, refers to a two-axled vehicle drivetrain that can deliver torque to all four wheels at the same time. It can be full-time or on-demand and is often coupled via a transfer case, which provides an additional output drive shaft and, in many cases, additional gear ranges.
All-wheel drive refers to a four-wheel drive vehicle that delivers torque to both axles (AWD). However, four-wheel drive normally refers to a collection of specialized components and functions and intended off-road application, which generally conforms to the modern usage of the name.
Market Competitive Landscape:
The important firms active in the four-wheel drive vehicles market include
- Daimler AG (Germany)
- Mitsubishi Motors Corporation (Japan)
- BMW (Germany)
- Toyota Motor Corporation (Japan)
- Ford Motor Company (U.S.)
- 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)
- Honda Motor Company Ltd. (Japan)
- Among others.
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All four wheels of a four-wheel drive vehicle receive power from the engine. They are suitable for both slick roads and off-road use. They do not lose traction and hence offer higher stability and performance than two-wheel drive cars. Four-wheel drive vehicles operate in a variety of modes to conserve energy, including full-time four-wheel drive, part-time four-wheel drive, and automatic four-wheel drive. Depending on the situation, the user can manually enter any of these modes. This raises the overall cost of the vehicle. Unfortunately, using these technologies in a car causes tires to wear more quickly and necessitates more maintenance.
Strategic asset allocation and positioning are supposed to help each competitor in the market achieve their growth objectives. The introduction of favorable rules by the governments of numerous nations is expected to increase the four-wheel drive vehicles market profit potential. The market's scope of development indicates a high growth potential that the industry can accomplish in the following years. The availability of appropriate ways to create robust distribution channels is expected to characterize the market's future expansion throughout the forecast period. The economic stability is likely to contribute to a positive development in global market strength. The advancement of research and development facilities and equipment will also have an impact on market expansion.
Four-Wheel Drive Vehicles Market Report Scope:
| Report Metrics | Details |
| Market Size 2030 | 2030: Significant Value |
| CAGR during 2022-2030 | 6% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Opportunities | Increase with significant growth rate all over the world |
| Key Market Drivers | Increase in cost of the vehicles owing to the implementation |
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February 2023
The Ford Everest, which is set to be released in the UAE, will be powered by a 2.3-liter Turbo Petrol engine from Ford's EcoBoost family. This engine is expected to produce a solid 300 horsepower and an outstanding 420 Nm of torque, making it a road force to be reckoned with. A highly efficient 10-speed torque converter automatic gearbox will handle transmission duties, delivering smooth and seamless shifting. The Ford Everest will be equipped with a full-time four-wheel drive system and a low range transfer case to handle the most difficult terrain, delivering improved traction and stability in all driving conditions.
Four-Wheel Drive Vehicles Market USP Covered:
Market Drivers:
Advances in four-wheel drive vehicle capabilities and cold weather conditions are driving factors for the North American and European markets to anticipate future demand. The Asia-Pacific luxury automobile market has expanded rapidly.
Increased safety, stability, and drive control are some of the elements that may enhance the market's growth. Before, these systems were only available in high-end automobiles, but with the introduction of small passenger cars and hybrid electric vehicles, worldwide demand has expanded.
Developing companies in the automobile industry are constantly developing and upgrading each component of the four-wheel drive vehicle system in order to improve AWD performance and fuel efficiency even more.
SUV sales have been steadily expanding as economic conditions in both emerging and developed countries improve. More than 65% of SUVs on the road now have all-wheel drive engine systems. For example, the volume of SUVs will reach 200 million units in 2019. SUVs accounted for 29.6 million global car sales a year later, with electric SUVs adding another 1.1 million units in 2020.
Secure on-road drivability in winter or any hazardous climatic circumstances is a crucial factor motivating people to prefer passenger automobiles equipped with four-wheel drive powertrain systems, particularly in North America and Europe. This type of system will also be used in electrified powertrain vehicles such as hybrids, plug-in hybrids, and battery-electric vehicles.
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Market Restraints:
The installation of four-wheel drive systems, which include differentials, transfer cases, rear-drive shafts, rear axles, and advanced electronics in the automotive, is projected to constrain the growth of this market.
COVID 19 Analysis
The deadly COVID-19 pandemic has spread over the planet. In March 2020, the WHO labeled coronavirus a pandemic, causing lockdowns in the majority of affected countries. Because of the strict constraints imposed by worldwide government authorities, industry companies have been forced to allow their employees to operate remotely and electronically. The use of automated created technologies to reduce human involvement in domains like as manufacturing and production facilities, on the other hand, is projected to stimulate broad growth of the global automotive market throughout the forecast period, which will end in 2030. The widespread use of technology, such as automated machinery and modern electronics in the automobile industry, has ensured that organizations run smoothly.
Four-Wheel Drive Vehicles Market Segmentation
By Product Type
The four-wheel drive vehicles market has been divided into premium 4WD and regular 4WD based on product type.
By Application
HCV and SUV are the application bases for segmenting the four-wheel drive vehicles market.
By End-use
The four-wheel drive vehicles market is divided into three segments based on end-use: large trucks, road racing, and construction equipment.
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Four-Wheel Drive Vehicles Market Regional Insights
The market for four-wheel drive vehicles has been classified into four primary regions: North America, Europe, Asia Pacific, and the Rest of the World. The global four-wheel drive vehicle industry is diverse across all geographies, with North America accounting for the lion's share. North America's market is dominated by countries such as the United States and Canada. The market in North America is followed by the market in Asia Pacific.
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