Crossover Vehicles Market Analysis

In-depth Analysis of Crossover Vehicles Market Industry Landscape

The main reason for more and more road accidents is human error. About 1.35 million people die in road accidents every year, says the World Health Organization. Automatic all-wheel drive (AWD) systems work with software connected to wheel speed sensors, detecting and controlling wheel drive. These systems can be proactive, locking the traction control even before the wheels slip. They decide the need for all-wheel drive in real time using information from various sensors. The system kicks in when the rear wheels start slipping, automatically transferring power to the front wheels without losing torque or speed. This quick response time improves traction, control, and driver comfort. Automatic AWDs offer many benefits, such as fuel reduction, less wear and tear on drivetrain components and tires, and better drivability. The growing demand for these systems is seen as an opportunity in the global all-wheel drive market.

In the last ten years, the price of crude oil has gone up, and its availability has decreased. This has led to a rising awareness of the environmental impact of gasoline vehicles and an increased demand for electric cars worldwide. Government initiatives, like subsidies, grants, improving charging infrastructure, and increasing vehicle range, are encouraging the adoption of electric vehicles. For example, in September 2017, the Indian Ministry of Road Transport and Highways announced incentives to ensure that electric vehicles make up 15% of total vehicle sales in the country over the next five years.

As the world faces an increasing number of road accidents mainly due to human error, it is essential to explore technologies that enhance safety. Automatic all-wheel drive (AWD) systems, which utilize software connected to wheel speed sensors, provide a proactive approach by detecting and controlling wheel drive before slippage occurs. This technology offers real-time adjustments based on sensor data, activating the AWD system when needed, improving traction, control, and driver comfort. Automatic AWDs contribute to reduced fuel consumption, less wear on drivetrain components and tires, and overall improved drivability. The growing demand for such systems presents an opportunity in the global all-wheel drive market.

Additionally, the rising price of crude oil and decreasing availability have prompted a shift towards electric vehicles (EVs) globally. Increased awareness of the environmental impact of traditional gasoline vehicles has accelerated the demand for EVs. Governments worldwide are supporting this transition through various incentives, including subsidies, grants, improved charging infrastructure, and efforts to extend vehicle range. For instance, the Indian Ministry of Road Transport and Highways has introduced non-fiscal incentives to encourage the adoption of electric vehicles, aiming for them to constitute 15% of total vehicle sales in the country over the next five years.