World News: 09:33 GMT Thursday 6th December 2018. [Research and Markets via Globe Newswire via SPi World News]
Dublin, Dec. 06, 2018 (GLOBE NEWSWIRE) -- The report has been added to offering.
The global automotive four-wheel drive system market is expected to grow at a CAGR of over 12% during the forecast period.
One trend in the market is development of electric four-wheel drive system. The global automotive four-wheel drive system market is witnessing developments in terms of advanced functionalities, material use, and applications. Prominent vendors operating in the market are making used of advanced processes, materials, and technologies to enhance system designs. They are making considerable investments in R&D and developing superior four-wheel drive systems that incorporate innovative materials and processes.
Further, the report states that one challenge in the market is four-wheel drive systems are expensive. The global automotive four-wheel drive system market has to contend with a stiff challenge when it comes to the cost factor. Automotive four-wheel drive systems command high costs in terms of design, development, and manufacturing owing to the components and technology used. Automotive four-wheel drive systems incorporate many expensive crucial components and systems such as transfer case, differentials, and driving shaft among others.
The market appears to be fragmented and with the presence of several companies including LINAMAR, and American Axle & Manufacturing the competitive environment is quite intense. Factors such as the increased penetration rate of four-wheel drive system in sedans, will provide considerable growth opportunities to automotive four-wheel drive system companies.
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Related Topics: Cars
Globe Newswire: 09:33 GMT Thursday 6th December 2018
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