Global Automotive Transmission Market Research Report – Forecast to 2022
Automotive transmission is designed to transfer power which is developed in an automobile engine. It provides the vehicle with the power to move. This system comprises of auto components such as propeller shaft, gearbox, clutch, etc. This report by Market Research Future MRFR presents an observation that the global automotive transmission market is supposed to expand at 6% CAGR over the forecast period. It is anticipated to accrue decent amount of revenue by the end of 2022. The market is poised to grow owing to the changing trends in the automotive industry. Also, the growth of the industry is projected to boost the growth rate of the automotive transmission market in the forthcoming years.
The ongoing trend of the rise in demand for fuel-efficient auto components is a major factor encouraging innovations in the market. It has led to product development and launches which have propelled market expansion in recent times. It is further prognosticated to continue exhibiting similar trend to catalyze growth of the automotive transmission market. Also, the rising demand for lightweight auto components is expected to drive market growth in the foreseeable future. It has been observed that industry leaders are focusing on the development of lightweight transmission systems to cater to the demand generated by trend. These factors are presumed to drive expansion of the automotive transmission market.
Increasing demand for passenger vehicles on the global front is anticipated to drive the proliferation of the automotive transmission market in the coming years. Also, the rising demand for luxurious vehicles is projected to boost the growth of the automotive transmission market. In addition, the development of torque systems is supposed to have a positive impact on the revenue generation of the market. Electrification of vehicles has enabled the market in gaining momentum. Increasing demand for electric vehicles is also a positive factor for the expansion of the automotive transmission market. Lastly, the stringent norms being implemented for environmental protection are poised to create opportunities for the market players.
On the basis of type, the global automotive transmission market has been segmented into automatic, automatic manual transmission, manual, continuous variable transmission, and dual clutch transmission.
On the basis of vehicle type, the global automotive transmission market has been segmented into LCV, passenger car, and HCV.
On the basis of fuel type, the automotive transmission market has been segmented into gasoline, diesel, and others.
The geographical study of the global automotive transmission market has been included for an in-depth study. It covers four key regions, which are Asia Pacific, North America, Europe, and the Rest of the World (RoW). These regional segments are also studied on the basis of countries to present a detailed view of the market. Asia Pacific is assessed to exercise dominance over the market due to the rising demand for light commercial vehicles. China and other developing economies in the region are focusing on the development of the automotive industry for economic development. This is projected to drive the proliferation of the automotive transmission market in the region over the assessment period. Moreover, OEMs from developed regions are also investing in expanding bases in APA due to lenient laws and cheap labor availability. This, in turn, is poised to accelerate revenue creation in the automotive transmission market. North America, at the second position, is expected to capitalize on the growing demand for automatic manual transmission systems. It is anticipated to earn considerable profits in the upcoming years.
Allison Transmission Inc. (U.S.), Continental AG (Germany), Aisin Seiki Co. Ltd. (Japan), BorgWarner Inc. (U.S.), GKN PLC (U.K.), Eaton Corporation PLC (Ireland), Jatco Ltd. (U.S.), ZF Friedrichshafen AG (Germany), Magna International Inc. (Canada), and Schaeffler AG (Germany).
Global Automotive Transmission Market by Type (Automatic, Manual, Automatic Manual Transmission, Continuous Variable Transmission, Dual Clutch Transmission) by Vehicle type (Passenger Car, LCV,HCV), by Fuel type (Gasoline, Diesel, Others), and by Region (Asia-Pacific, North America, Europe, RoW)
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