Car Transmissions Market Overview
The Car Transmissions Market will
witness a significant CAGR value of 6 % and a strong market valuation by 2030
during the forecast period. Automobile components in the industry verticals are
provided cost-efficient solutions without compromising the vehicle's
performance. Due to this, the manufacturers are integrating different growth
strategies to the demand for transmission systems in the automobile sector.
These strategies are driving the growth of the Car Transmissions
Market.
The growth factors accelerate the market's demand,
such as the increased technological advancements in automotive transmission
systems boosting the market. The rise in the adoption of Dual Clutch
Transmission (DCT) technologies and Continuously Variable Transmission (CVT)
rather than manual and automatic systems is maximizing demand. The growing inclination
towards fuel-efficient products with better performance will drive the market
value in the forecast period. Many manufacturers are innovating their services
with Intelligent Manual Transmission (IMT), allowing the drivers where the
gears can work without clutch depressing.
The rise in technological advancements and the
innovation of transmission systems for the need across several vehicle types,
including Heavy Commercial Vehicles (HCVs) and passenger cars, will accelerate
the market at the global level. Automotive OEMs are also implementing advanced
systems, like Automated Manual Transmission (AMT), to lower the fuel
consumption rate. The rise in concern towards environmental safety and
eliminating the CO2 emissions is boosting the Car Transmissions
Market.
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Automotive Transmission Industry News
In April 2021, ZF Friedrichshafen AG revealed the
launch of a new 8-speed automatic transmission, ZF PowerLine, for medium-duty
vehicles. It will provide higher efficiency than the 9-speed and 10-speed transmission.
Car Transmissions Market Key Players
- Allison
Transmission Inc. (U.S.)
- Aisin
Seiki Co. Ltd. (Japan)
- Continental
AG (Germany)
- BorgWarner
Inc. (U.S.)
- Eaton
Corporation PLC (Ireland)
- GKN
PLC (U.K.)
- Jatco
Ltd. (U.S.)
- Magna
International Inc. (Canada)
- ZF
Friedrichshafen AG (Germany)
- Schaeffler
AG (Germany)
During the COVID-19 pandemic, the market noticed a
negative impact due to the closure of the automotive sector. This factor has
hampered the Car Transmissions Market growth. It
also declined the sales rate and new services and systems production. The
market's economy noticed a massive setback in this pandemic which negatively
impacted automobile production.
It also disrupted the supply chain process when
the production was halted for a longer period. Moreover, it has subsequently
impacted and reduced the demand for automotive transmission. But in the
post-pandemic period, the market will get back to its form and will achieve a
good market value.
Car Transmissions Market Regional Analysis
According to the geographical growth, the Car
Transmissions Market is showing tremendous growth in major regions such as the
Asia Pacific, Europe, North America and the rest of the world.
The Asia-Pacific is leading due to the production
rate of passenger cars and LCVs in developing countries such as China and
India. Followed by the Asia Pacific, North America is the next region to lead
the market in the evaluation period. The rise in demand for Automatic manual
transmission (AMT) is boosting the regional market of this region. The
prominent manufacturing hubs are strengthening the North American market to emerge
globally.
Car Transmissions Market Segmentation
By Product Type
- Fixed
- Detachable
- Swiveling
- Others
By Vehicle Type
- Passenger
Cars
- Lcv
- Hcv
By Sales Channel
- OEM
- Aftermarket
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