Automotive 4 Wheel-Drive (4WD) and All-Wheel Drive (AWD) Market Trends and Analysis by Technology, Companies and Forecast to 2028
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Automotive 4 Wheel-Drive (4WD) and All-Wheel Drive (AWD) Market Report Overview
The automotive 4-wheel-drive (4WD) and all-wheel drive (AWD) market size was 87.4 million units in 2023. The market will grow at a CAGR of more than 2% during 2023-2028. Increasing adoption of SUVs and electric vehicles (EVs) among vehicle buyers is driving the demand for 4WD and AWD systems. In 2023, Asia-Pacific accounted for a significant share of the market.
Automotive 4 Wheel-Drive (4WD) and All-Wheel Drive (AWD) Market Outlook, 2023-2028 (Million Units)
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The automotive 4-wheel-drive (4WD) and all-wheel drive (AWD) market research report provides a comprehensive overview of the 4WD and AWD market trends and drivers. The report also provides a detailed overview of technological developments and innovations, PESTER analysis, and leading component suppliers at a global and regional level. Furthermore, evaluate strategic initiatives taken by market players and their recent product innovations to identify growth opportunities. The report also provides an overview of patent filings in the sector across regions, countries, and top applicants.
Market Size (2023) | 87.4 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 | Aisin, Hyundai, Volkswagen, ZF, Toyota, and Jatco |
Key Sectors | AWD and Non-AWD |
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Automotive 4-Wheel-Drive (4WD) and All-Wheel Drive (AWD) Market Trends
The key trends shaping the automotive 4WD and AWD market are increasing demand for SUVs and the implementation of 4WD and AWD in EVs.
Increasing demand for SUVs: A rise in the popularity of SUVs and high-end vehicles is the cause behind global demand for all-wheel drive systems. Improvements to vehicle stability, safety, and driving dynamics are further aiding the automotive 4WD and AWD industry. Due to the SUV segment’s roots in off-road vehicles, all-wheel drive and four-wheel drive are inextricably linked to this type of vehicle.
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Automotive 4-Wheel-Drive (4WD) and All-Wheel Drive (AWD) Market Segmentation by Regions
In 2023, Asia-Pacific accounted for the highest share among all the regions
The key regions in the automotive 4WD and AWD market are Asia-Pacific, Europe, North America, South America, and MEA. The automotive 4WD category dominated the Asia-Pacific market in 2023. The increasing popularity of AWD vehicles in China and other Asian countries drives the growth of the automotive 4WD and AWD market in the APAC region.
Automotive 4-Wheel-Drive (4WD) and All-Wheel Drive (AWD) Market Analysis by Regions, 2023 (%)
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Automotive 4 Wheel-Drive (4WD) and All-Wheel Drive (AWD) Market - Competitive Landscape
Aisin accounted for the highest market share in 2021
A few of the top companies operating in the market are:
- Aisin
- Hyundai
- Volkswagen
- ZF
- Toyota
- Jatco
Aisin collaborated with BlueE and Denso to come up with eAxle. eAxle is an electric drive module that combines a motor, inverter, and gearbox.
Moreover, the company is taking strategic actions to aid the growth of the automotive 4WD and AWD market. In May 2023, Aisin planned to expand its reach and establish its foothold in the Philippines.
Automotive 4-Wheel-Drive (4WD) and All-Wheel Drive (AWD) Market Analysis by Companies, 2021 (%)
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Automotive 4 Wheel-Drive (4WD) and All-Wheel Drive (AWD) Market Segmentation by Sectors
The key sectors in the automotive 4WD and AWD market are AWD and non-AWD. In 2023, non-AWD was the dominant sector in the market.
Automotive 4 Wheel-Drive (4WD) and All-Wheel Drive (AWD) Market Analysis by Sectors, 2023 (%)
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Automotive 4 Wheel-Drive (4WD) and All-Wheel Drive (AWD) Market - Latest Developments
A few of the latest developments in the automotive 4WD and AWD market are as follows:
- 5th July 2023: HORSE is taking over the Renault Group’s industrial knowledge and resources for creating, manufacturing, and selling next-generation thermal and hybrid powertrains with zero emissions.
- 27th July 2023: Currently, India has three latest AWD and 4WD SUVs, which are Maruti Suzuki Jimny, Maruti Suzuki Grand Vitara AWD, and Mahindra Scorpio-N 4WD.
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Segments Covered in the Report
Automotive 4-Wheel-Drive (4WD) and All-Wheel Drive (AWD) Sector Outlook (Value, Million Units, 2018-2028)
- AWD
- Non-AWD
Automotive 4-Wheel-Drive (4WD) and All-Wheel Drive (AWD) Regional Outlook (Value, Million Units, 2018-2028)
- Asia-Pacific
- Europe
- North America
- South America
- MEA
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 2023 and 2028. The analysis also covers a regional overview across four regions highlighting sector size and growth drivers.
- Competitive Landscape: Provides an overview of leading component suppliers at a global and regional level, besides analyzing the 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 in the market.
- 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.
Hyundai
Volkswagen
ZF
Toyota
Jatco
General Motors
SAIC
Ford
PSA
Table of Contents
Table
Figures
Frequently asked questions
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What was the automotive 4-wheel-drive (4WD) and all-wheel drive (AWD) market size in 2023?
The 4-wheel-drive (4WD) and all-wheel drive (AWD) market size was 87.4 million units in 2023.
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What is the growth rate of the automotive 4-wheel-drive (4WD) and all-wheel drive (AWD) market?
The 4-wheel-drive (4WD) and all-wheel drive (AWD) market is expected to record a CAGR of more than 2% during 2023-2028.
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Which was the leading sector in the automotive 4-wheel-drive (4WD) and all-wheel drive (AWD) market in 2023?
Non-AWD was the leading sector in the automotive 4-wheel-drive (4WD) and all-wheel drive (AWD) market in 2023.
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Which was the leading region in the automotive 4-wheel-drive (4WD) and all-wheel drive (AWD) market in 2023?
Asia-Pacific was leading in the automotive 4-wheel-drive (4WD) and all-wheel drive (AWD) market in 2023.
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Which are the key companies operating in the automotive 4-wheel-drive (4WD) and all-wheel drive (AWD) market?
The top companies operating in the automotive 4-wheel-drive (4WD) and all-wheel drive (AWD) market are Aisin, Hyundai, Volkswagen, ZF, Toyota, and Jatco, among others.
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