Market Research Future has recently published new research that provides detailed insights on the working dynamics of the global automotive transmission market 2023 over impact analysis on COVID-19. The global automotive transmission market will reflect an average 6.05% CAGR, in terms of volume, during the forecast period until 2032, as stated by a recent report. The study estimates the market to surpass high in revenues by 2032-end.
The study offers in-depth information about the key market segments,
vendor landscape, geographical outlook, factors driving, and inhibiting growth
along with COVID-19 impact Analysis with the report.
Top
Impacting Factors
Automotive transmission framework highlights various gadgets, by which
seamless gearshifts ensue. The high torque is transmitted from the engine to
the live axle of an automobile through the drive shaft. Each component, such as
shafts, gears, and other useful accessories, takes pride in delivering motion
to the automobile. These components impart velocity to the car and are directly
related to the speed ratio of the cars. All these features have stood up as essential
factors motivating the market and its growth to a great extent.
The demand for automatic transmission vehicles has been growing for over
the past three years, mainly in the developing countries of India and China, owing
to heavy traffic and congestion and overcrowded streets. The expansion drivers
for the automotive transmission market are attributed to the growing demand for
the automatic transmission that offers fuel-efficient, lightweight, and
comfortable driving experience in exploding traffic congestion situations in
growing cities.
With this, the escalating spending capacity of the middle-class
population in developing countries, stringent regulations for controlling fuel
emission, rising demand of electric vehicles encouraging the electrification of
transmission systems are transforming the industry growth at a high pace.
On the contrary, the factor of the higher cost of installing technically
advanced systems and limited use of high-end technology is known to be restricting
the sales of the market. This would result in risking the market’s growth to
lessen up the forecast period.
Segmentation
of Market: Automotive Transmission
The global automotive transmission market has further been segmented
along the following lines:
The segmented study of the global automatic transmission market offers
insight on the growth prospects of the market. Type, fuel, and vehicle type are
parameters on which the automotive automatic transmission system market study
is based.
In the type segment, the automotive automatic transmission system market
comprised of Automated Manual Transmission (AMT), Dual-Clutch transmission
(DCT), and Continuously Variable Transmission (CVT).
In the vehicle type segment, the automotive automatic transmission
system market has included passenger cars, HCV, and LCV.
In the fuel type segment, the automotive automatic transmission system comprised
of gasoline, diesel, and hybrid.
Regional
Front
Asia-Pacific leads the global automotive
transmission market size owing to factors such as growth in the production
of passenger cars and LCV in the developing economies. Many OEMs are keen to
open the production facilities in this region, especially in emerging nations
such as China and India.
The North America region is probable to be the second-largest market
during the foretell period. The rising
demand for Automatic manual transmission (AMT) across the region is likely to
boost industry growth. Also, the sophisticated manufacturing hubs and market in
terms of technology is likely to strengthen the market growth further. The
market in North America likewise is likely to display a promising pace of
expansion inferable from the favoritism for vehicles with sophisticated
transmission frame-works, adding to market growth.
Europe is weaning towards comfort and energy efficacy in vehicles, so
there is substantial market growth in these regions. The new market trend
catching on like wildfire is n-speed automatic systems where n is the number of
forwarding gears.
In fact, the popularity of traveler vehicles crosswise over developing
economies, mainly in India and China, are sound examples of the growth of the market.
The market in the Asia Pacific is possibly going to rise most rewardingly.
Top Giant
Market Players
Aisin Seiki Co. Ltd. (Japan), Allison Transmission Inc. (U.S.),
BorgWarner Inc. (U.S.), Continental AG (Germany), GKN PLC (U.K.), Eaton
Corporation PLC (Ireland), Magna International Inc. (Canada), Jatco Ltd.
(U.S.), and Schaeffler AG (Germany) are some of the leading players operating
in this market.
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