Transmission Repair Market Research Report - Global Forecast To 2027

Transmission Repair Market Research Report – By Component (Gaskets & Seals, O-ring,  Gear, Clutch Plate, Oil Pump), Repair type (Transmission General Repair, Transmission Overhaul), Vehicle Type (Passenger Car, LCV, HCV), region - Forecast Till 2027

ID: MRFR/AM/3642-HCR | February 2021 | Region: Global | 135 pages

Transmission Repair Market Overview:


Transmission Repair Market is projected to be worth USD 234.65 billion by 2027, registering a CAGR of 4.52% during the forecast period (2021 - 2027), The market was valued at USD 188.25 billion in 2020.


The prime purpose of vehicle transmission is to modify the accessible friction from the drive unit of the vehicles, the surface, the driver, and as well as the environment. Any defect in the transmission of the automotive can leads to the interruption of the automotive. However, the resolution of the transmission repair is very censorious in the automotive service industry. The global transmission repair market is expected to witness remarkable growth in the future and it is predicted to grow with a CAGR of 4%, due to the rise in the adoption of the timely maintenance of the vehicles to keep the fuel efficiency of the transmissions by the owners of the vehicles. The transmission repair has many interconnected components which make the process of repairing very complex. The use of advanced technologies such as computers and hydraulics are required by the transmission specialists to regulate the proper functioning of the transmissions


This report contains all the information on the global transmission repair market growth and the market strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global transmission repair market and forecast to 2027 is also included in the report.


The transmission is an important part of the car which helps to converts the combustion power of the engine to momentum which helps to drive the wheels. Transmissions are used for converting torque and rotations in all kinds of motorized vehicles, aircraft, and vessels.


Covid 19 Analysis


According to the ongoing researches, the covid 19 pandemics has affected the global transmission industry and it is likely to leave an impact on the growth of the industry during the forecast period. Then pandemic has changed the behavior of the consumers and their demands along with that the purchasing patterns, current market dynamics, re-routing of the supply chain, and the constant changing intentions of the government, all these are the major factor contributing to the downfall of the global transmission repair market. 


Competitive landscape


The key strategies of the market players include the launches of new technologies, R&D activities, and acquisitions. The transmission repair market analysis is predicted to dominate the major companies in the market such as Allison Transmission, ZF, BorgWarner, and others. The key players are focused on their capabilities and the opportunities for the future growth of the market. They are likely to adopt the successive favorable mergers during the forecast period.


Major Key Players



  •         Allison Transmission (U.S.)

  •         ZF Friedrichshafen AG (Germany)

  •         BorgWarner Inc. (U.S.)

  •         Schaeffler Technologies AG & Co. (Germany)

  •         AAMCO (U.S.)

  •         Continental AG (Germany)

  •         Jiffy Lube (U.S.)

  •         Driven Brands Inc. (U.S.)

  •         Aisin Seiki Co., Ltd. (Japan)

  •         ZF Friedrichshafen AG (Germany)


Market Dynamic


Drivers


With the rise in the economic standards of the nations and also due to affordability and the demand for automotive production has remarkably increased in the past few years. According to reports by OICA, the production of commercial vehicles increased by 2% in the year 2019 as compared to the year 2018.


The future transmission repair market is expected to experience massive expansion during the forecast period due to the increase in the manufacturing of bigger cars where transmission system is mandatory. The increase in the number of miles covered by an automotive throughout its life is another major factor that is boosting the global transmission repair market outlook.



  •   Opportunities


The transmission repair market value is projected to grow at a CAGR of 4.5% during the forecast period. The rise in the improvements of the infrastructure and the increased sales of automobiles globally is predicted to spur the growth of the transmission repair market.


The rise in the demand for passenger cars in developing countries such as India, Mexico, and China are likely to boost the sales volume of old passenger cars in these regions and the rise in the demand for commercial cars in the developed countries such as UK, US, Germany, and Canada are likely to boost the sales here.



  •         Restraints


The transmission repair market is predicted to be retrained due to the hot transmission fluids among others, which is the major cause that can hinder the growth of the global transmission repair market. 



  •         Challenges


The significantly rising in the developments of electronic cars due to the rise in the demand for electric vehicles among the population is set to hamper the growth of the global transmission repair market industry during the forecast period. Electric vehicles almost smashed the maintenance industry due to their features and high efficiency.


According to the reports, Volkswagen has publicized the augmentation of the manufacturing plant for the electric vehicles with a huge investment of $800 Million in the United States, in the year 2019.


Cumulative Growth Analysis


The rise in the demand for used vehicles has driven the growth of the transmission repair market. The increase in the life cycle of the vehicles has increased the maintenance and repairing cost of the vehicles and accordingly the consumers are willing to spend more on the transmission repair of the vehicles to avoid any breakdown of the transmission system.


In the year 2019, the Indian transmission repair market observed a 5 times higher demand for the used commercial vehicles as compared to the new commercial vehicles, due to the rise in the price of the new vehicles.


From 2015 to 2019, the demand for passenger cars in china witnessed tremendous growth of more than 10%. The key players of these regions are expected to add fuel to the demand for the used vehicle segments in this region which is ultimately boosting the demand for the global transmission repair market trends here. 


Value Chain Analysis


According to the reports, the global transmission repair market is segmented on the basis of the components, repair type, vehicle type, and region. Based on the components the market is segmented into gaskets and seal, clutch plate, o-ring transmission filter, oil pump, and others.


Gaskets and seal have been dominating the global market by type, in the year 2016 in terms of the transmission repair market revenue. Based on the repair type, the market is segmented on the basis of transmission general repair and transmission overhaul. Based on vehicle type, the market is segmented on the basis of passenger vehicles, light commercial vehicles, and heavy commercial vehicles. The light commercial vehicle has been dominating the global market by vehicle type, in the year 2016, in terms of the transmission repair market revenue.


The rise in the adoption of the timely maintenance of the vehicles to increase the life cycle dominates the global transmission repair market in the year 2019. The timely maintenance of the vehicles increases the fuel efficiency of the cars, hence the adoption of the general transmission repair is likely to boost the growth of the market.


According to the reports from OICA, in the year 2019, the passenger car segment holds the highest transmission repair market share. The total number of passenger cars was 67,149units and the commercials cars were 24,637,665. The rise in the number of production plants for passenger cars is likely to contribute to the growth of the global transmission repair market.


Segmentation Overview


The growing sales of passenger cars along with that the increase in the standard vehicle miles traveled in the developing countries of the world such as India, Brazil, Mexico, Russia, and China are predicted to drive the growth of the global transmission repair market in the vehicle segment.



  •       By Application


Based on the application, the market is segmented into transmission general repair and transmission overhaul.



  •         By end-users


Based on the propulsion types, the market is segmented into three types, passenger cars, light commercial vehicles, and heavy commercial vehicles.

Regional Analysis


According to the reports, the global transmission repair market is segmented into four major regions such as North America, Europe, Asia Pacific, and the rest of the world on the basis of the regions. North America is predicted to dominate the global transmission repair market during the forecast period.


On the other hand, the Asia pacific segment is expected to witness tremendous growth with the highest CAGR due to the development of the automobile industries in these regions. The rise in the concerns for the environment in developing countries like Japan and China is increasing the demand for transmission repair in these regions.


The used vehicle segment has increased rapidly due to the advancement in the technologies and the high usage of the more developed equipment of the vehicles which is ultimately increasing the demand for the transmission repair market.


Report Overview


The following report comprises of –



  •          Market overview 

  •         Covid 19 Analysis

  •         Market Dynamic

  •         Drivers

  •         Opportunities

  •         Restraints 

  •         Challenges

  •         Cumulative Growth Analysis

  •         Value Chain Analysis

  •         Segmentation Overview 

  •         By Application 

  •         By End-Users

  •         Regional Analysis

  •         Competitive landscape


 Recent Developments



  •         Schaeffer announced its partnership with TruckOn in July 2019. It is a continental booking platform that provides services and repairs for commercial vehicles.

  •         Toyota has announced an investment of $700 Million for the expansion of the production plant in the United States, in January 2020


 



  • By Components

    • Gaskets and Seals

    • Fluids

    • Transmission Filters

    • O-Rings

    • Axles

    • Flywheels

    • Gears

    • Clutch Plates

    • Pressure Plates

    • Oil Pumps



  • By Repair Type

    • Transmission General Repair

    • Transmission Overhaul



  • By Vehicle Type

    • Passenger Car

    • Light Commercial Vehicle

    • Heavy Commercial Vehicle 





  •         Based on Region

  •         North America


o    United States


o    Canada


o    Rest of North America



  •         Europe


o    Germany


o    United Kingdom


o    France


o    Italy


o    Rest of Europe



  •         Asia-Pacific


o    China


o    India


o    Japan


o    South Korea


o    Rest of Asia-Pacific



  •         Rest Of World


o    Mexico


o    Brazil


o    United Arab Emirates


o    6.4.4 Other Countries



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: USD 234.65 billion
  CAGR   4.52% CAGR (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Component, Repair type, Vehicle Type, Application, end-users
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Allison Transmission (U.S.), ZF Friedrichshafen AG (Germany), BorgWarner Inc. (U.S.), Schaeffler Technologies AG & Co. (Germany), AAMCO (U.S.), Continental AG (Germany), Jiffy Lube (U.S.), Driven Brands Inc. (U.S.), Aisin Seiki Co., Ltd. (Japan), ZF Friedrichshafen AG (Germany)
  Key Market Opportunities

  • Rise in the improvements of the infrastructure and the increased sales of automobiles globally
  • Rise in the demand for passenger cars in developing countries
  •   Key Market Drivers

  • Rise in the economic standards of the nations and also due to affordability and the demand for automotive production
  • Increase in the manufacturing of bigger cars where transmission system is mandatory
  • Increase in the number of miles covered by an automotive throughout its life


  • Frequently Asked Questions (FAQ) :


    Global transmission repair market is projected to grow at approximately 4.5% CAGR during the assessment period (2020-2027).

    The increasing adoption of the timely maintenance of the vehicles by owners with the objective of keeping the transmissions at fuel efficiency are the major factors driving the growth of the global transmission repair market.

    Risk of hot transmission fluids is one of the major growth impeders for the global transmission repair market.

    North America holds the largest share in the global transmission repair market, followed by Europe and the Asia Pacific region, respectively.

    ZF Friedrichshafen AG (Germany), Allison Transmission (U.S.), BorgWarner Inc. (U.S.), AAMCO (U.S.), Schaeffler Technologies AG & Co. (Germany), Continental AG (Germany), Driven Brands Inc. (U.S.), Jiffy Lube (U.S.), Aisin Seiki Co., Ltd. (Japan), and ZF Friedrichshafen AG (Germany), are some of the top players operating in the global transmission repair market.