Automotive AWD and Non-AWD Market Trends, Sector Overview and Forecast to 2028
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Automotive AWD and Non-AWD Market Report Overview
The AWD and non-AWD market size was 88.1 million units in 2023. The market will grow at a CAGR of more than 2% during 2023-2028. The increasing adoption of SUVs and electric vehicles (EVs) is driving the demand for AWD and non-AWD systems. In 2023, Asia-Pacific accounted for a significant share of the automotive AWD and non-AWD market.
Automotive AWD and Non-AWD Market Outlook, 2023-2028 (Million Units)
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The automotive AWD and non-AWD market research report provides a comprehensive overview of the market trends and drivers. The automotive AWD and non-AWD market also provides a detailed overview of technological developments and PESTER analysis. Furthermore, evaluate strategic initiatives by market players and their recent product innovations to identify growth opportunities. The report also provides an overview of patent filings across sectors, regions, countries, and top applicants.
Market Size (2023) | 88.1 million units |
CAGR (2023-2028) | >2% |
Historical Period | 2018-2022 |
Forecast Period | 2023-2028 |
Key Regions | Asia-Pacific, Europe, North America, South America, and MEA |
Key Companies | Toyota, Volkswagen, Ford, Mercedes-Benz, and Hyundai |
Key Sectors | FWD, AWD, and RWD |
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Automotive AWD and Non-AWD Market Trends
The key trends shaping the automotive AWD and non-AWD market are the rising popularity of SUVs and the growing adoption of EVs.
Rise in the popularity of SUVs: SUVs are commonly associated with adventure, off-road capability, and versatility. There is an increased demand for vehicles equipped with AWD and non-AWD systems as more consumers choose SUVs for daily transportation and recreational use. This demand drives manufacturers to offer a variety of AWD and non-AWD options in SUV models.
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Automotive AWD and Non-AWD Market Segmentation by Regions
In 2023, Asia-Pacific accounted for the highest automotive AWD and non-AWD market share among all the regions
The key regions in the automotive AWD and non-AWD market are Asia-Pacific, Europe, North America, South America, and MEA. The increasing popularity of AWD vehicles such as SUVs, sedans, and multi- utility vehicles in China and other Asian countries drives the automotive AWD and non-AWD market growth in APAC.
Automotive AWD and Non-AWD Market Analysis by Regions, 2023 (%)
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Automotive AWD and Non-AWD Market – Competitive Landscape
A few of the top companies operating in the market are:
- Toyota
- Volkswagen
- Ford
- Mercedes-Benz
- Hyundai
Toyota has recently announced the launch of its new RAV4 model, which incorporates two advanced all-wheel-drive (AWD) systems. These systems provide exceptional cornering performance and grip, resulting in a safer driving experience in all conditions.
In November 2023, Toyota invested in establishing its third manufacturing facility in India. The growing demand for Toyota vehicles in the Indian market drove this significant investment.
Automotive AWD and Non-AWD Market Analysis by Companies
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Automotive AWD and Non-AWD Market Segmentation by Sectors
In 2023, FWD accounted for the highest share of the automotive AWD and non-AWD market
The key sectors in the automotive AWD and non-AWD market are front-wheel drive (FWD), all-wheel drive (AWD), and rear-wheel drive (RWD). Since FWD vehicles are generally more affordable, fuel-efficient, and suitable for regular city driving, consumers in North America, prioritizing fuel economy and cost-effectiveness over enhanced traction and performance, tend to prefer these vehicles.
Automotive AWD and Non-AWD Market Analysis by Sectors, 2023 (%)
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Automotive AWD and Non-AWD Market – Latest Developments
A few of the latest developments in the automotive AWD and non-AWD market are as follows:
- 5th July 2023: HORSE is taking over the Renault Group’s industrial know-how and resources for creating, manufacturing, and selling next-generation thermal and hybrid powertrains with zero emissions. In the future, HORSE might also provide powertrain components to independent automakers.
- 5th April 2023: BMW Group’s drip feed of information on the redesigned Mini Countryman claimed that the second-generation PHEV with all-wheel drive would be followed up by a new Countryman SE ALL4 model, the brand’s first AWD EV.
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Segments Covered in this Report
Automotive AWD and Non-AWD Regional Outlook (Value, Million Units, 2018-2028)
- Asia-Pacific
- Europe
- North America
- South America
- MEA
Automotive AWD and Non-AWD Sector Outlook (Value, Million Units, 2018-2028)
- FWD
- AWD
- RWD
Scope
- Trends & Drivers: Provides an overview of the current key trends and drivers that will influence the sector’s growth in the future.
- Technological Developments: Provides a detailed overview of technological developments and innovations in the sector.
- PESTER Analysis: Provides a detailed understanding of political, economic, social, technological, environmental, and regulatory factors impacting the sector.
- Sector Forecast: Provides deep-dive analysis of the global market covering volume growth during 2018-2028, and spot estimates for 2030 and 2036. The analysis also covers a regional overview across four regions highlighting sector size and growth drivers for the region.
- Competitive Landscape: Provides an overview of leading component suppliers at a global and regional level, besides analyzing the companies’ recent product innovations and key strategic initiatives. taken by the companies.
- Patent Analysis: Provides an overview of patent filings in the sector across regions, countries, and top applicants.
Reasons to Buy
- The report provides OEMs and component suppliers’ latest information on market evolution to help formulate sales and marketing strategies.
- The report provides authentic market data with a high level of detail to help gain a competitive edge.
- The report provides its readers with up-to-date information and analysis to uncover emerging opportunities for growth within the sector.
- The report analyzes regions and competitive landscape that can help companies gain insight into the region-specific nuances.
- The report assesses the key trends that drive customer choice and the future opportunities that can be explored in the region. Actionable insights on trends can help companies in revenue expansion.
- The report helps gain competitive intelligence about leading component suppliers in the region with information about their market share and growth rates.
Mercedes Benz
Magna
AISIN
Hyundai
Volkswagen
ZF
Ford
Table of Contents
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Frequently asked questions
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What was the automotive AWD and non-AWD market size in 2023?
The automotive AWD and non-AWD market size was 88.1 million units in 2023.
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What will the AWD and non-AWD market growth rate be during the forecast period?
The AWD and non-AWD market will grow at a CAGR of more than 2% during 2023-2028.
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Which was the leading region in the automotive AWD and non-AWD market in 2023?
Asia-Pacific was the leading revenue generator for the automotive AWD and non-AWD market in 2023.
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Which was the leading sector of the automotive AWD and non-AWD market in 2023?
In 2023, FWD accounted for the highest share of the automotive AWD and non-AWD market.
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Which are the key companies in the automotive AWD and non-AWD market?
The top companies operating in the automotive AWD and non-AWD market are Toyota, Volkswagen, Ford, Mercedes-Benz, and Hyundai, among others.
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