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The global automotive transmission market is estimated to grow at a CAGR of 6.2% during the forecast period, from USD 59.9 billion in 2022 to USD 80.8 billion by 2027
The automotive industry is continuously evolving, with an increasing focus on electric and hybrid vehicles. The adoption of strict emission norms by the governments of major countries has increased the penetration of electric and hybrid vehicles q.
New York, May 09, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Transmission Market by Transmission Type, Fuel Type, Vehicle Type, Hybrid Vehicle, Two-Wheeler Transmission, Number of Forward Gears and Region - Global Forecast to 2027" - https://www.reportlinker.com/p04458255/?utm_source=GNW
According to the US EPA, the transportation sector accounted for 28% of the total GHG emissions in 2018, becoming one of the leading causes of the increasing global temperatures. Governments and OEMs are, therefore, taking initiatives to reduce automotive emissions.
The passenger car segment is estimated to be the largest automotive transmission market, by vehicle
The passenger cars segment is projected to lead the automotive transmission market during the forecast period due to the higher production of passenger cars than other vehicle segments.The passenger cars segment is estimated to account for 76% of the global automotive transmission market in terms of volume in 2022.
The growing role of transmission in passenger cars, coupled with the growing influence of fuel-efficient systems, has been propelling the growth of the automotive transmission market.
The demand for manual transmission in passenger cars is higher in Asia Pacific and Europe than in North America.Currently, the penetration of manual transmission is less than 2%.
For example, Toyota only offers five car models with manual transmissions.Of those five, only a few are being purchased by consumers.
The market in Asia Pacific is expected to decline in terms of volume, during the forecast period due to the high adoption of advanced transmission systems in countries such as China, Japan, and South Korea.
Asia Pacific automotive transmission market is projected to grow at a significant rate during the forecast period.
The major growth drivers for the Asia Pacific automotive transmission market include shift in consumer preference toward advanced automotive transmission systems such AT, AMT, CVT, and DCT that would ensure a smooth driving experience in Heavy traffic and increasing vehicle congestion in urban areas.
Significant demand for high-end premium vehicles with advanced transmission systems such as AMT, DCT and CVT are fuelling the growth in the region.Also, the consumers has preference for products with low maintenance cost.
The presence of major automobile manufacturers, combined with technological prowess, would result in a significant rise in the demand for advanced transmission systems and components in Asia Pacific.
The study contains insights from various industry experts, ranging from component suppliers to tier 1 companies and OEMs. The break-up of the primaries is as follows:
• By Company Type: Tier 1: 52%, Tier 2: 21%, OEM: 27%
• By Designation: C level: 47%, D level: 37%, Others: 16%
• By Region: North America: 34%, Europe: 38%, Asia Pacific: 28%
Some of the key players in the automotive transmission market are ZF Friedrichshafen (Germany), MAGNA International (Canada), Aisin Corporation (Japan), Eaton Corporation(Japan), Hyundai Transys(South Korea), Allison transmissions(US), Vitesco Technologies(Germany), Schaeffler AG(Germany), BorgWarner(US), GKN Automotive(UK), and Jatco (Japan) and more
Research Coverage:
The report segments the automotive transmission market, by volume and value, on the basis of region (Asia Pacific, Europe, North America, Latin America and Middle East& Africa), By transmission type (Automatic Transmission, Manual Transmission, Automated Manual Transmission, Continuously variable transmission, Dual Clutch Transmission), By Number of forward gears (Less Than 5, 5-6, 7-8, 9-10, Above 10, CVT), vehicle type (PCs, LCVs, Trucks, Buses), Hybrid Vehicles (PHEV, HEV), By fuel type (Diesel, Gasoline), by Two-wheeler transmission Type (Manual, Automatic).
This report contains various levels of industry analysis and company profiles, which highlight emerging and high-growth segments of this market, competitive mapping, and market dynamics (drivers, restraints, opportunities, & challenges).
The report contains various levels of analysis, including industry analysis, industry trends, and company profiles, which together comprise and discuss the basic views on the emerging and high-growth segments of the automotive transmission market, high-growth regions and countries, government initiatives, and market dynamics such as drivers, restraints, opportunities, and challenges.
Reasons to Buy the Report:
The report enables new entrants and smaller firms as well as established firms to understand the market better to help them acquire a larger market share. Firms purchasing the report could use any one or a combination of the 4 strategies (market development, product development/innovation, market diversification, and competitive assessment) mentioned below to strengthen their position in the market.
Key Benefits of Buying the Report:
• The report offers comprehensive information about the automotive transmission market and the top players in the market.
• The report provides detailed insights into upcoming technologies, R&D activities, and new product launches in the automotive transmission market.
• The report offers comprehensive information about the automotive transmission market. The report analyses the automotive transmission market across regions and provides comprehensive information about lucrative emerging markets.
• The report provides exhaustive information about new products, untapped regional markets, recent developments, and investments in the automotive transmission market.
Read the full report: https://www.reportlinker.com/p04458255/?utm_source=GNW
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