- The mechanical differential lock is integrated within the differential of the vehicle and enables the driver to lock both half shafts, making them function as a single shaft. In muddy terrain, the differential lock is very useful, as the same amount of torque can be generated in both wheels with greater traction.
Key Drivers of Mechanical Differential Lock Market for Automotive Market
- Increase in penetration of AWD and 4WD vehicles and a rise in the demand for commercial vehicles are expected to drive the global automotive differential lock market. Additionally, rise in preference among consumers toward off-road touring and competition among manufacturers of powertrain and power differential is further estimated to propel the market. Higher road traction of vehicles with lock differentials is also boosting the adoption of mechanical differential lock.
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Restrains in Mechanical Differential Lock Market for Automotive Market
- The recent outbreak of COVID-19 pandemic has affected national as well as international automotive supply chains, manufacturing and R&D operations, and consequently, hampered the automotive industry. Post first wave of COVID-19, global economies have started opening automotive manufacturing and supply chain operations, thus the COVID impact on the industry seems to have reached a state of normalcy; however, a resurgence in COVID-19 cases in countries across the globe has prompted governments to impose a second round of lockdown restrictions and hence, the uncertainty continues in the automotive and allied ancillary part suppliers industries.
Opportunities in Global Mechanical Differential Lock Market for Automotive
- Flexible car loan rates and easy availability of customizable financing options have been prompting automotive user to buy premium cars integrated with advanced differentials. Moreover, rapid urbanization and improving income levels of citizens in developing countries are further propelling the sales of SUVs, thereby offering significant opportunity for the automotive differential lock market.
Asia Pacific holds Significant Share of Global Mechanical Differential Lock Market for Automotive
- In terms of region, Asia Pacific is expected to hold a major share of the global mechanical differential lock market for automotive, driven by higher sales of SUVs in China. In 2020, SUVs accounted for approximately 47% of total vehicle sales in China. Followed by Asia Pacific, North America is expected to be hold a notable share of the global mechanical differentials lock market, owing to high production of four-wheel drive light commercial vehicles and a rise in the demand for sports utility vehicles in the region.
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Key Players Operating in Global Mechanical Differential Lock Market for Automotive
The global mechanical differential lock market for automotive is moderately consolidated with the presence of top manufacturers. A few of the key players operating in the Mechanical Differential Lock Market for Automotive market are:
- Marlin Crawler, Inc.
- SHOWA Corporation
- Lamda Components Pvt. Ltd
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