Automotive Gear Market Overview:
The global automotive gear market is projected to grow at a CAGR of
6.4% from 2023 to 2032 (forecast period). The report discusses the crucial trends
in the global automotive gear market in light of the novel COVID-19 pandemic.
The report presents a complete overview of the different areas of the industry
that are likely to be impacted by the pandemic.
The gear is a part of a rotating machine fitted
with cogs or cut teeth that can be meshed with an additional toothed part.
Geared devices can change the torque, speed, and direction of the power source.
Such systems create a mechanical advantage via the gear ratio by producing an
alteration in the torque. Two or more meshing gears operating in a specific
series are known as the gear transmission. Instead of rotation, a gear can
produce transmission by meshing with a rack or a linear toothed part. While
regarding transmissions with multiple gear ratios in cars, motorcycles, and
bicycles, the term “gear” means a gear ratio (in contrast to an actual physical
gear) and related devices, mainly when the gear ratio is constant or when a
device does not contain gears, for example in a continuously variable transmission.
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Gear Market
Market Dynamics
The rising demand for the automotive gear is
due to the rise of the automotive industry. Automotive gear helps give an
automobile a smooth start and enables the outer wheel to rotate faster than the
inner wheel for safer turns. Smooth gear shifting improves the driving
experience, as well as the increasing demand for low-carbon-footprint
technologies drive the growth of the global automotive gear industry. In
addition, increasing disposable income and vehicle ownership fuel market
growth. It is expected that lightweight and highly durable aluminum and
composite gears will become more common during the forecast period. Emphasis on
high-quality products and changing consumer lifestyles, and increasing spending
power, promote the growth of the automotive gear industry.
However, the high cost of the advanced gear
system compared to the conventional gear system is an obstacle to the growth of
the automotive gear industry.
Market Segmentation
The global automotive gear market has been
segmented into material, product type, and vehicle type.
Based on material, the global automotive gear
market has been segmented into metallic and plastic.
Based on product type, the global automotive
gear market has been segmented into planetary, bevel, helical, non-metallic,
and others.
Based on vehicle type, the global automotive
gear market has been segmented into passenger vehicles and commercial
vehicles.
Regional Analysis
Regionally, the global automotive
gear market has been segmented into North America, Asia Pacific, Europe, and
the Middle East and Africa.
The Asia Pacific market is dominating the
automotive gear market due to growth in the automotive sector. The development
of automotive manufacturing industries in emerging economies like China and
India is driving the automotive gear market. The market in developing countries
is primarily driven by economic growth and continuous industrialization, which
contributes to the production of motor vehicles and other manufacturing
outputs.
North America is the second-largest automotive
gear market due to factors like the large customer base, and the high
disposable income of end-users, which fueled the demand for vehicles in the region.
Key Players
Notable players in the global automotive gear
market are Eaton, Linamar Corporation, Robert Bosch GmbH, NSK Ltd, Bharat Gears
Ltd, Dana Holding Corporation, Neapco Inc, Mitsubishi Group, ZF TRW, and GKN
plc.
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