Transmission Repair Market to Ascend at 4% CAGR by 2023. Snowballing Automotive Sector to Promote Global Transmission Repair Market Growth. North America to Retain Foremost Position in Global Transmission Repair Market. Global Transmission Repair Market is segmented By Component (Gaskets & Seals, O-ring, Gear, Clutch Plate, Oil Pump), Repair type (Transmission General Repair, Transmission Overhaul), Vehicle Type (Passenger Car, LCV, HCV), region – Forecast To 2023.
Allison Transmission (U.S.), ZF Friedrichshafen AG (Germany), BorgWarner Inc. (U.S.), Schaeffler Technologies AG & Co. (Germany), AAMCO (U.S.), Continental AG (Germany), Jiffy Lube (U.S.), Driven Brands Inc. (U.S.), Aisin Seiki Co., Ltd. (Japan), and ZF Friedrichshafen AG (Germany) are some of the well-known participants present in the global transmission repair market.
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Transmission Repair Market Overview:
Every type of motorized vehicle requires transmissions, including aircrafts and vessels for the conversion of torque and rotation. The function of a vehicle transmission is to use the traction available from the drive unit to suit vehicle, the driver, the surface, and the environment. Failure of the transmission of a vehicle causes the vehicle to stop. Hence, the transmission’s repair is extremely critical, in the automotive industry.
The global transmission repair market is anticipated to record a steady CAGR of 4% over the forecast period. This can be accredited to the snowballing adoption of timely maintenance of automobiles by owners to maintain the transmission efficiency. Periodic and consistent servicing of automobiles aids in the enhancement the operative age of vehicles and in the maintenance of fuel efficiency, hence, contributing to market growth. These factors are anticipated to promote market growth for transmission repair services.
The process of transmission repair is extremely complex and it has several interrelated components. Hence, the presence of trained personnel is of utmost importance to conduct such repairs. The global transmission repair market is anticipated to exhibit huge potential of expansion during the forecast period owing to the ascending investments by original equipment manufacturers in the production of bigger cars donned with efficient transmission systems. Moreover, increasing number of miles covered in an automotive throughout the lifecycle of the vehicle is expected to propel growth noted in the global transmission repair market. Moreover, rapid improvements in infrastructure, coupled with an ascension in sales of automotive across the globe is anticipated to spur market growth.
Market Segmentation:
The global transmission repair market is studied for the segments based on components, repair type, vehicle type and regions. On the basis of components, the transmission repair market is segmented into gaskets and seals, o-ring, transmission filter, clutch plate, gear, and oil pump. Gaskets and seals segment has been reported to dominate the global market, as of 2016, in terms of market revenue.
Based on repair type, the global transmission repair market is segmented into transmission overhaul and general repair. The transmission repair market is ruled by the general repair segment over the forecast period. The general repair segment is also anticipated to register the highest CAGR owing to the increasing adoption of preventive/periodical servicing practices to maintain and augment the performance of the transmission system in automotive.
Based on vehicle type, the market segments studied include light commercial vehicle, heavy commercial vehicle, and passenger car. Among these segments, the light commercial car spearheaded the global transmission repair market at the beginning of the forecast period.
Detailed Regional Analysis:
The global transmission repair market is analyzed for several geographical segments including North America, Asia Pacific, Europe, and the Rest of the World. North America fetched the prime share of the global transmission repair market at the base year and is likely to hold its foremost position in the market through the forecast period. The ascension of the transmission repair market in the region can be accredited to the rising demand for light commercial vehicles and passenger cars in North America. Furthermore, increase observed in ride-sharing, large vehicle parking and rise in the average miles traveled per vehicle are expected to supplement the regional growth for transmission repair market.
List Of Tables:
Table 1 Global Transmission Repair Market: By Region, 2017-2023
Table 2 North America Transmission Repair Market: By Country, 2017-2023
Table 3 Europe Transmission Repair Market: By Country, 2017-2023
Table 4 Asia Pacific Transmission Repair Market: By Country, 2017-2023
Table 5 RoW Transmission Repair Market: By Country, 2017-2023
Table 6 Global Transmission Repair Market, By Components, By Regions, 2017-2023
Table 7 North America Transmission Repair Market, By Components, By Country, 2017-2023
Table 8 Europe Transmission Repair Market, By Resin Type, By Country, 2017-2023
Table 9 Asia Pacific Transmission Repair Market By Components, By Country, 2017-2023
Table 10 RoW Transmission Repair Market By Components, By Country, 2017-2023
Table 11 Global Automotive Powertrain System By Repair Type Market: By Regions, 2017-2023
Table 12 North America Transmission Repair Market By Repair Type: By Country, 2017-2023
Table 13 Europe Transmission Repair Market By Repair Type: By Country, 2017-2023
Table 14 Asia Pacific Transmission Repair Market By Repair Type: By Country, 2017-2023
Table 15 RoW Transmission Repair Market By Repair Type: By Country, 2017-2023
Table 16 Global Transmission Repair Market, By Vehicle Type, By Regions, 2017-2023
Continued…
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