Rapid increase in infrastructure improvement has been driving sales of the hybrid electric vehicles, which in turn drives the vehicle transfer case market. Rising automotive production together with increasing fuel-efficiency standards have been taken up as key factors stimulating the growth of vehicle transfer case market. Surging need for high-strength in the off-road vehicles for increasing the overall effectiveness during harsh conditions have been contributing significantly towards the generation of revenues in the vehicle transfer case market across the globe.
Increasing number of BEV (battery electric vehicles) is expected to restrain the revenue sales in vehicle transfer case market as these vehicles get through power distribution process without the need of vehicle transfer case. However, growing popularity and growing penetration Y-O-Y is expected to impact on the overall growth of vehicle transfer case market.
Aftermarket Sales to Beef Up With Off-Road Enthusiasts in Vehicle Transfer Case Market
Off-road driving enthusiasts are expected to significantly drive aftermarket sales growth in vehicle transfer case market. As most of the off-road vehicle drivers prefer modifying their vehicles for utilizing gear-driven vehicle transfer cases, in order to attain additional strength with regards to cost of extra noise and weight.
OEMs are taking immense efforts in forming strategic alliances with the leading automotive vehicle manufacturers for increasing their market penetration, which in turn has been taken up as a notable trend in the vehicle transfer case market. Need for constant development of products for enabling manufacturers in attaining stringent fuel-efficiency standards has been resulting in long-term contracts in the current competitive environment. The afore-mentioned factors have been significantly contributing towards the growth of vehicle transfer case market at a rapid pace.
Vehicle Transfer Case Market: High Clearance Vehicles to Gain Significant Preference
Shifting consumer preference towards high clearance and powerful vehicles have been significantly fuelling the growth of vehicle transfer case market. This factor is mainly attributed towards increasing demand for four-wheel and all-wheel drive vehicles such as crossovers and SUVs, which in turn drives the demand growth of vehicle transfer case market. According to an on-going analysis, in 2017, SUVs have accounted for nearly 43% of the total U.S. vehicle sales and approximately 27% of total Europe vehicle sales.
Superior Driving Experience with 4WD and AWD Systems Powering Sales in Vehicle Transfer Case Market
4WD and AWD systems have been gaining significant traction among the commercial vehicles as they help in driving through off-terrain environments as well as improves vehicle stability. Surging demand for commercial vehicles along with rising affordability of the advanced as well as innovative systems in the developing economies such as Mexico, India, Brazil and China are expected to contribute significantly towards the growth of vehicle transfer case market. Increasing demand for superior driving experience has been influencing the manufacturers in vehicle transfer case market increase the production of 4WD and AWD systems as it also supports in improving vehicle safety.
Need For Innovative Ways for Shifting Mechanisms to Drive Adoption of Electronic & Software Systems; Driving Vehicle Transfer Case Market
Integration of software and electronics for supporting in shifting mechanisms from low towards high speed have been improving the functions of vehicle transfer case, which has also led to increasing adoption in the passenger vehicles on a large scale. For instance, companies such as GKN plc had incorporated software for syncing vehicle transfer case transmission with various sub-subsystems such as electronic stability control and anti-lock braking system for intelligently controlling the vehicle, thereby improving the overall vehicle ride.
A current exhaustive study on the vehicle transfer case market is likely to offer an all-inclusive assessment of vehicle transfer case market with present-day and imminent market prospects. Exclusive insights presented in vehicle transfer case market report integrated with latest market developments and notable market dynamics as well.
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