Transfer Case Market is forecast to reach $24.8 billion by 2025, growing at a CAGR of 8.75% from 2020 to 2025. Rising effort by automotive manufacturers to enhance fuel-efficiency, the growing need of low range gears and chain drive, and increased demand for electric and hybrid vehicles are expected to accelerate the transfer case market during the forecast period. The implementation of the stringent government regulations owing to the pollution standards is further set to escalate the market growth rate.
- Asia-Pacific dominates the Transfer Case industry owing to rising production of automobiles and stringent regulatory norm on reducing environmental footprints and energy consumption.
- Increasing demand for electric and hybrid vehicles and the ban on diesel and gasoline vehicles is expected to create favourable market for transfer case in passenger vehicle segment.
- Increasing adoption of sustainable and environment-friendly automotive components and implementation of stringent government regulations related to automobile emissions will increase the market demand for transfer case during forecast period.
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Geography – Segment Analysis
In 2018, APAC dominated the transfer case market, followed by North America and Europe. The economy of APAC is majorly influenced by the major countries such as China and India. In these countries, the government are aggressively implementing regulatory framework to reduce the environmental footprint and fuel consumption in automobiles. According to new CAFE regulations introduced in India, the corporate average fuel consumption for each automaker are expected to be brought down to 113 CO2 gm/km by 2022 compared to the 129.8 CO2 gm/km in 2017. Stringent regulations as such will drive the usage of transfer case market in this region.
Drivers –Transfer Case Market
- Growing demand for 6*2 axle configuration in heavy duty trucks and commercial vehicles
- Implementation of Stringent Environment and fuel efficiency Regulations
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Transfer case market. Transmission repair driver market is expected to be dominated by major companies such as AISIN SEIKI, American Axle & Manufacturing, BorgWarner, Magna International, and ZF Friedrichshafen among others.
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