Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The market dynamics of transmission repair in the automotive industry encompass various factors that influence the demand, trends, and competitive landscape within this segment. One fundamental dynamic is the sheer prevalence of automatic and manual transmissions in vehicles, making transmission repair a crucial aspect of the automotive aftermarket. As vehicles age, wear and tear on transmission systems become inevitable, leading to a consistent demand for transmission repair services. This dynamic is further fueled by the increasing complexity of modern transmissions, necessitating specialized skills and equipment for diagnosis and repair.
Technological advancements play a significant role in shaping the market dynamics of transmission repair. The integration of electronic control systems and advanced sensors in modern transmissions requires repair shops to invest in up-to-date diagnostic tools and training for their technicians. The dynamic nature of transmission technology necessitates continuous education and adaptation within the repair industry to effectively address issues related to electronic components, computer-controlled systems, and the overall complexity of modern transmission systems.
Consumer preferences and behaviors contribute to the market dynamics of transmission repair. Many vehicle owners tend to keep their vehicles for longer periods, resulting in a growing need for transmission maintenance and repair as vehicles accumulate mileage. Additionally, as awareness of preventive maintenance increases, consumers are more likely to seek transmission services to extend the lifespan of their vehicles and avoid costly replacements. The dynamic shift towards proactive maintenance reflects changing consumer attitudes and contributes to the sustained demand for transmission repair services.
Cost dynamics are essential considerations in the transmission repair market. While transmission repairs are often more affordable than complete replacements, cost-conscious consumers may still weigh the expenses associated with repair against the value of their vehicles. The pricing competitiveness among repair shops and the availability of affordable yet quality repair solutions influence consumer choices and drive market dynamics. Moreover, cost considerations extend to the availability and pricing of replacement parts, impacting repair shop profitability and pricing strategies.
The regulatory landscape and environmental considerations form another set of dynamics within the transmission repair market. Environmental regulations may influence the disposal of transmission fluids and parts, prompting repair shops to adopt eco-friendly practices. Compliance with environmental standards and disposal regulations can impact the operational processes and costs of transmission repair businesses, introducing a dynamic element to their overall business practices.
Global economic factors contribute to the market dynamics of transmission repair, affecting both consumer behavior and the supply chain. Economic downturns may lead consumers to delay non-essential repairs, impacting the overall demand for transmission repair services. Fluctuations in the prices of raw materials, such as metals used in transmission components, can influence the cost of replacement parts, affecting repair shop expenses and pricing strategies. Economic stability and growth contribute to increased vehicle ownership, leading to a subsequent rise in the need for transmission repair services.
Competition within the transmission repair market is a dynamic factor that shapes the strategies of repair shops and service providers. The industry's competitiveness often leads to innovative service offerings, enhanced customer experiences, and strategic partnerships to differentiate and position repair businesses in the market. As customer expectations evolve, repair shops must adapt to remain competitive, fostering a dynamic and responsive environment within the transmission repair sector.
The market dynamics of transmission repair are multifaceted, driven by the prevalence of transmissions in vehicles, technological advancements, consumer preferences, cost considerations, regulatory influences, global economic factors, and competitive dynamics. As vehicles continue to advance in technology and the automotive landscape evolves, transmission repair businesses must navigate these dynamics to provide effective, competitive, and sustainable solutions for vehicle owners in need of transmission maintenance and repair services. The dynamic interplay of these factors ensures that the transmission repair market remains responsive to changing industry trends and consumer demands.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Components, Vehicle Type, Type, and Region |
Transmission Repair Market Highlights:
Transmission Repair Market Overview:
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
Transmission Repair Market Trends
Growing demand for electric vehicles is driving the market growth
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.
Transmission Repair Market Segment Insights:
Transmission Repair Vehicle Type Insights
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.
Transmission Repair Type Insights
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
Transmission Repair Components Insights
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.
Transmission Repair Regional Insights
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.
Transmission Repair Key Market Players & Competitive Insights
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.
Key Companies in the Transmission Repair market include
- 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
Transmission Repair Industry Developments
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 Segmentation:
Transmission Repair Components Outlook
- Gaskets and Seals
- O-Ring
- Transmission Filters
- Gear
- Clutch Plate
- Oil Pump
- Others
Transmission Repair Type Outlook
- Transmission General Repair
- Transmission Overhaul
Transmission Repair Vehicle Type Outlook
- Passenger Car
- Commercial Vehicle
Transmission Repair Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
