The latest market report published by Credence Research, Inc. “Global Electronic Limited Slip Differential Market: Growth, Future Prospects, and Competitive Analysis, 2023 – 2030”. The Global Electronic Limited Slip Differential Market generated revenue of around USD 1.2 billion in 2022 and is anticipated to grow a CAGR of over 11.9% during the forecast period from 2023 to 2030 to reach around USD 2.6 billion in 2030.
Electronic Limited Slip Differential is what ELSD stands for. The differential can be considered a gearing system that allows multiple drive wheels on the same axle to rotate at different speeds, such as when the car is turning. The differential often has several parts. The ring and pinion gears, on the other hand, are the differential’s principal and most important parts. A collection of smaller gears can be found inside the carrier assembly, to which the ring gear is attached. It divides the engine torque into two units, allowing them to build up and multiply engine power and spin wheels at various velocities. In rear-wheel drives, the differential is often housed in the rear axle assembly and is made up of drive gears, pinion bearings, differential case and side bearings, spider and side gears, and pinion bearings. Some frequently added variants to both passenger and commercial vehicles are limited-slip, open, locking, torque vectoring, and limited-slip differentials that are electronically controlled. Production operations in the automotive industry play a vital role in determining differential demand. Hence, the worldwide Automotive ELSD Market would be primarily driven by the growing demand for commercial vehicles and the requirement for lightweight and high-yielding automotive components in the coming years.
The global electronic limited slip differential market is bifurcated into drive type, vehicle type, propulsion, system, and geography. Based on the drive type, the market is categorized into Front Wheel Drive (FWD), Rear Wheel Drive (RWD), All Wheel Drive/ Four Wheel Drive (AWD/4WD). On the basis of vehicle type, the global electronic limited slip differential market is segmented into Passenger Car (PC), Light Commercial Vehicle (LCV), Heavy Commercial Vehicles, and Off-Highway. Based on propulsion, the market is categorized into I.C. Engine Vehicles, Electric Vehicles, and Hybrid Vehicles. On the basis of the system, the global market is segmented into Active Limited Slip Differential, and Passive Limited Slip Differential. Based on geography, the electronic limited slip differential market is segmented as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
In terms of revenue, Asia Pacific retained a significant market position for Electronic Limited Slip Differential Market in 2022. Due to the rising demand for four-wheel drive, rapid urbanization, and rising awareness of safety in the region during the forecast period, Asia-Pacific currently dominates the electronic limited-slip differential market and will maintain this trend. Nonetheless, Europe is expected to experience exceptional growth and will have the highest compound annual growth (CAGR) rate during the predicted period. This is a result of the region’s growing need for passenger vehicles.
The Electronic Limited Slip Differential Market major players analysis is a detailed study of the key companies operating in this market. This analysis helps in identifying the strengths, weaknesses, opportunities, and threats faced by these players and their overall impact on the market. Some of the major players analyzed in this report include Eaton Corporation Plc., Schaeffler AG (Luk GmbH & Co.), GKN plc., JTEKT Corporation, Dana Incorporated, BorgWarner Inc., Magna International Inc., ZF Friedrichshafen AG, Continental AG, and AAM American Axle & Manufacturing Holdings Inc.
Some of the key factors driving the growth of the eLSD market worldwide include:
- Increasing demand for advanced driver assistance systems (ADAS): ADAS systems are becoming increasingly popular in vehicles, and eLSDs are a key component in these systems. The increasing demand for ADAS systems is expected to drive the growth of the eLSD market.
- Improvements in vehicle performance: eLSDs can improve the performance of vehicles by providing better traction and stability control. This is expected to drive the demand for eLSDs in high-performance vehicles.
- Technological advancements in eLSDs: Technological advancements in eLSDs have led to the development of more sophisticated and efficient systems, which is expected to drive the growth of the market.
- Growth in the automotive industry: The automotive industry is experiencing steady growth, and eLSDs are becoming increasingly important in ensuring the proper functioning of automotive electronics, such as ADAS systems.
- Increase in demand for fuel-efficient vehicles: The demand for fuel-efficient vehicles is increasing, and eLSDs can help to improve the fuel efficiency of vehicles by reducing power loss and improving traction control.
Why to Buy This Report-
- The report provides a qualitative and quantitative analysis of the global Electronic Limited Slip Differential Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2018-2021, base year- 2022, and forecast period 2023-2030.
- The report contains information related to the competitive landscape like how the key players in the market are operating at a global, regional, and country level
- In-depth analysis of the global Electronic Limited Slip Differential Market segmentation based on drive type, vehicle type, propulsion, and system.
- Major countries in each region with their import/export statistics
- The global Electronic Limited Slip Differential Market report also includes analysing of the global, regional, and country level, along with key market trends, significant players analysis, market growth strategies, and key application areas.
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