Transmission Repair Market Top prominent companies business landscapes are dynamic, and success depends on a company's ability to adapt to changing circumstances with respect to regions and countries. Companies that successfully integrate emerging technologies like AI, blockchain, and the IoT into their operations often gain a competitive edge.
*Disclaimer: List of key companies in no particular order
Top listed companies in the Transmission Repair industry are:
Allison Transmission Holding Inc.
ZF Friedrichshafen AG
Schaeffler Technologies AG & Co. KG
Continental AG
Aamco Transmissions
BorgWarner Inc.
Lee Myles Autocare & Transmission
Mister Transmission Ltd.
BorgWarner Inc.
Firestone Tire and Rubber Company
Cottman Transmission and Total Auto Care
Aisin Seiki Co., Ltd.
Driven Brands Inc.
Jiffy Lube
Competitive Landscape of the Transmission Repair Market
The global transmission repair market is a large and fragmented industry, with a wide range of players, from independent shops to national chains. The market is driven by a number of factors, including the increasing age of vehicles on the road, the growing complexity of transmissions, and rising labor costs.
Key Player Strategies
In order to compete in this market, players must adopt a number of key strategies. These include:
Building a strong reputation for quality and reliability. This is essential, as transmission repairs can be expensive, and customers need to be confident that they are getting their money's worth.
Offering a wide range of services. This includes not only transmission repairs, but also other related services, such as oil changes and tune-ups.
Providing competitive pricing. This is important, as customers are increasingly price-conscious.
Investing in technology. This includes using diagnostic tools and equipment to accurately identify and repair transmission problems.
Providing excellent customer service. This includes being responsive to customer inquiries and concerns, and providing timely and accurate repairs.
Factors for Market Share Analysis
A number of factors can be used to analyze market share in the transmission repair market. These include:
The number of shops or locations.
The revenue generated by each shop or location.
The number of employees.
The types of services offered.
The geographic location of the shops or locations.
New and Emerging Trends
A number of new and emerging trends are impacting the transmission repair market. These include:
The increasing popularity of hybrid and electric vehicles. These vehicles have different types of transmissions that require specialized repair skills.
The use of artificial intelligence (AI) and machine learning (ML) for diagnostics and repair. This is still in its early stages, but it has the potential to revolutionize the transmission repair industry.
The growing demand for mobile transmission repair services. This is being driven by the increasing popularity of ride-sharing services and the convenience of having repairs done at home or work.
Overall Competitive Scenario
The transmission repair market is a competitive market, with a number of players vying for market share. The market is driven by a number of factors, including the increasing age of vehicles on the road, the growing complexity of transmissions, and rising labor costs. In order to compete in this market, players must adopt a number of key strategies, such as building a strong reputation for quality and reliability, offering a wide range of services, providing competitive pricing, investing in technology, and providing excellent customer service. A number of new and emerging trends are impacting the transmission repair market, such as the increasing popularity of hybrid and electric vehicles, the use of AI and ML for diagnostics and repair, and the growing demand for mobile transmission repair services.
Latest Company Updates:
Allison Transmission Holding Inc. (NYSE: ALSN): Recently announced a partnership with an electric vehicle technology company to develop hybrid drivetrains for commercial vehicles. (Source: Allison Transmission Press Release, December 15, 2023)
ZF Friedrichshafen AG: Launched a new line of transmissions specifically designed for hybrid and electric vehicles. (Source: ZF Press Release, November 10, 2023)
Schaeffler Technologies AG & Co. KG: Received a patent for a novel clutch technology that improves fuel efficiency and reduces emissions. (Source: Schaeffler Press Release, October 26, 2023)
Continental AG: Invested in a startup developing automated transmission repair robots. (Source: Continental Blog Post, September 5, 2023)
Aamco Transmissions: Launched a nationwide campaign promoting preventative transmission maintenance services. (Source: Aamco Press Release, August 18, 2023)
The Transmission Repair market size was valued at USD 173.29 Billion in 2023. The transmission repair industry is projected to grow from USD 181.12 Billion in 2024 to USD 246.81 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.94% during the forecast period (2024 - 2032). The rise in the adoption of MRO services (maintenance, repair, and overhaul) by vehicle owners influences, and the rising use of advanced technologies such as computers and hydraulics required by the transmission specialists to regulate the proper functioning of the transmissions are the key market drivers enhancing the market growth over the forecast period.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for transmission repair is being driven by the growing demand for electric vehicles, which will boost the transmission repair market. The demand for electric vehicles is growing daily, as electric vehicles offer several benefits such as low harmful gases emission, low maintenance costs and others. Electric vehicle manufacturers will use hybrid transmission widely in hybrid electric vehicles (HEV). The hybrid transmission uses a combination of electric motor and combustion engine substantially, reducing the vehicle's fuel consumption, which will boost the transmission repair market revenue.
The growing penetration of electric vehicles worldwide will significantly impact the market growth. The high adoption of electric vehicles can be credited to governmental industries and help for improving the environmental grade to overcome crude oil dependence. Overall, the repair & maintenance expenses of battery electric vehicles are anticipated to be around 40% lesser than that of ICE vehicles. Industry players will gain a competitive edge by creating their products and operations more sustainable, such as restored solutions, and by training a technical understanding of electric vehicle elements drives the transmission repair market growth over the forecast period.
Moreover, the automotive industry is racing toward a new world with growing sustainability, changing consumer behavior, encompassing electric vehicles, connected cars, mobility fleet sharing, and improving lifestyles. Developing economies such as China, India, and Brazil are the most promising economies for the automotive sector. In February 2022, Tata Motors announced the sale of passenger vehicles rose by 47% in the domestic market. Also, in June 2021, passenger car registrations in the European Union expanded by 10% compared to last year. Furthermore, the demand for Special Utility Vehicles (SUVs) has recently surged due to the increasing global leisure and tour activities.
The Transmission Repair market segmentation, based on vehicle type, includes passenger cars and commercial vehicles. The passenger car segment dominated the market, accounting for 35% of market revenue (60.65 Billion). In developing economies, category growth is driven by due to increasing sales of passenger cars and increasing average vehicle miles traveled. However, commercial vehicle is the fastest-growing category over the forecast period due to the rising demand for commercial vehicles all over the globe.
The Transmission Repair market segmentation, based on type, includes transmission general repair and transmission overhaul. The general transmission repair category generated the most income (70.4%). The main job of general transmission repair is to keep all the parts moving smoothly, like gears and clutch. It helps to reduce the heat dissipation and reduce the wear and tear of contact surfaces. Hence, it is a very important factor in increasing the engine's life expectancy. However, transmission overhaul is the fastest-growing category over the forecast period as they are cost-effective which drives the growth of the market.
Figure 1: Transmission Repair Market, by Distribution Channel, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Transmission Repair market segmentation, based on type, includes gaskets and seals, O-rings, transmission filters, gear, clutch plates, oil pumps, and others. The oil pump category generated the most income. This is due to increasing demand for vehicles and increasing average vehicle miles traveled. However, the clutch plate is the fastest-growing category over the forecast period as it assists in preventing damage to other auto parts.
By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American transmission repair market will dominate this market due to the life expectancy of vehicles and the growing used cars and passenger vehicles market. The technological advancement and usage of more developed parts and equipment in commercial and passenger vehicles have attracted more demand for used vehicles in this region. Further, the US transmission repair market held the largest market share, and the Canadian transmission repair market was the fastest-growing market in the North American region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Transmission Repair Market Share By Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's transmission repair market accounts for the second-largest market share due to an increase in the sales of electric vehicles drives the market growth in this region. Further, the German transmission repair market held the largest market share, and the UK transmission repair market was the fastest-growing market in the European region.
The Asia-Pacific transmission repair market is expected to grow at the fastest CAGR from 2024 to 2032. This is due to the existence of large production bases in China and India. In March 2020, the China Association of Automobile Manufactures announced that vehicle production and sales volume reached 3.47 million and 3.67 million units. Moreover, China’s transmission repair market held the largest market share, and the Indian transmission repair market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the transmission repair market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the transmission repair industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Transmission Repair industry to benefit clients and increase the market sector. Major players in the transmission repair market, including Allison Transmission (US), ZF Friedrichshafen AG (Germany), BorgWarner Inc. (US), Schaeffler Technologies AG & Co. (Germany), AAMCO (US), Continental AG (Germany), and others, are attempting to increase market demand by investing in research and development operations.
ZF Friedrichshafen AG, a subsidiary of Zeppelin-Stiftung Co, is a technology provider to the automotive industry. It delivers automotive components and systems for several mobility solutions, ranging from motorcycles and construction equipment to trucks and yachts. The company's product offerings include steering and braking systems, occupant safety systems, front and rear axles, transmissions and powertrain modules, and drive components. ZF also delivers integrated solutions across the vehicle life cycle, such as spare parts, conversion and retrofitting repair, preventive overhaul, technical information and advice, training and expert marketing support and remanufacturing of used units. The company has an operational existence in Europe, South America, Asia Pacific, and Africa; and has manufacturing, R&D and other facilities worldwide. In March 2020, ZF Friedrichshafen AG and Wolong Electric Group Co Ltd announced a joint venture on Electric components, which will increase the features of hybrid transmission and boost the hybrid transmission market.
Schaeffler AG is a developer, manufacturer, and supplier of precision products for diverse applications. The firm delivers a broad range of products, including rolling bearings, spherical plain bearings, plain bearings, mechatronics, linear products, and precision components. The company markets these products under INA, LuK and FAG. It provides maintenance of products and services besides digital services. Schaeffler also offers aftermarket services and products to the automotive, aerospace, and industrial sectors. In July 2019, Schaeffler announced its partnership with TruckOn, Continental's digital booking platform for commercial vehicle repairs and services.
June 2019: Allison Transmission Holding Inc. invested more than US$ 400 Mn to expand its business and added a new Vehicle Environmental Test facility and an Innovation Center in Indianapolis.
May 2019: Schaeffler's Automotive Aftermarket division expanded its portfolio for the clutch repair of Asian vehicles. Under its LuK brand, Schaeffler offers more than 450 articles, from individual parts like dual-mass flywheels and concentric slave cylinders to intelligently conceived repair solutions.
May 2019: Shell Lubricants launched E-Transmission Fluids, E-Thermal Fluids and E-Greases will make battery EVs perform better and more efficiently.
Transmission Repair Market Highlights:
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)