Automotive Transmission Market Size is expected to cross USD $ 96,980 Million by 2030 at a CAGR of 6.05% during the forecast period 2022-2030
Automotive Transmission Market Synopsis:
The global automotive transmission market is estimated to witness USD 96,980 million at a 6.05% CAGR during the forecast period.
The major factors driving the market includes increase in the number of passenger cars and light weight commercial vehicles, growing demand for fuel efficient vehicles and increased preference for smooth driving experience by consumers. In addition, stringent regulatory norms especially in Europe has fueled the growth of the market. However, high cost of advanced transmission systems is the major restraint to the growth of market.
The mechanism through which the transfer of power developed by the engine of automobiles to the driving wheels is called the transmission system. The automotive transmission comprises of clutch, gearbox, propeller shaft, rear axle and wheels.
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) and Schaeffler AG (Germany) are some of the leading players operating in the automatic transmission system market.
Asia-Pacific dominates the global automotive transmission market owing to factors such as growth in the production of passenger cars and LCV in the developing economies of the region. Many OEM’S are keen to open their production facilities in this region especially in the emerging nations such as China and India. North America is expected to be the second largest market during the forecast period. Increasing demand for Automatic manual transmission (AMT) across the region is expected to boost the industry growth. In addition, the sophisticated manufacturing hubs and market in terms of technology is expected to strengthen the market growth further.
The report for The Global Automotive Transmission Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
|Market Size||USD 96,980 million|
|CAGR||6.05% CAGR (2022 to 2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Vehicle type, Fuel type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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) and Schaeffler AG (Germany)|
|Key Market Opportunities||Increased preference for smooth driving experience by consumers|
|Key Market Drivers||
The automotive transmission market can surge at 6.05% CAGR by 2030.
Jatco Ltd. (U.S.), ZF Friedrichshafen AG (Germany), Magna International Inc. (Canada), and Schaeffler AG (Germany) are some reputed players of the automotive transmission market.
The automotive transmission market can achieve a decent valuation by 2030.
Gasoline and diesel are fuel types used in automotive transmission.
The high demand for AMT in the US can prompt the automotive transmission market in North America.