The Global Market for Automotive Transmission Systems is Projected to Reach 161.1 Million Units by 2024
Growing Preference for Self-Shifting
Transmission Cars Spurs Growth in the Automotive Transmissions Systems Market,
According to a New Report by Global Industry Analysts, Inc.
GIA launches comprehensive analysis of industry segments, trends,
growth drivers, market share, size and demand forecasts on the global Automotive
Transmission Systems market. The global market for Automotive Transmission
Systems is projected to reach 161.1 million units by 2024, driven by the growing
consumer preference for automatic transmission cars and stable global automobile
production trends.
Defined as a complex and elaborate assembly of gears, shafts, bearings
and other electromechanical parts, transmission systems are designed to deliver
optimal torque to the drivetrain from a vehicle’s engine. As a critical piece
of engineering, automotive transmission systems play a vital role in making
automobiles more comfortable, safe and convenient to drive. Improvements in the
ability of transmission systems to help the engine operate at efficient speeds
have allowed automobiles to touch high cruising speeds safely and with ease. Driving
efficiency and performance which help determine the overall car handling
experience are largely influenced by the effectiveness of the vehicle’s
transmission system. Developments, both
evolutionary and radical, in transmission systems have quite literally pushed
the automotive industry forward, making cars a piece of engineering excellence.
The automotive industry is currently witnessing the commercialization of a medley
of transmission technologies such as automatic transmission (AT), automatic
manual transmission (AMT), dual clutch transmission (DCT), and continuous
variable transmission (CVT). Among these technologies, poised to gain are CVT
and DCT supported by the growing demand for greener, fuel efficient cars
offering higher performance.
The regulatory need to reduce vehicular emissions is exerting pressure on
auto OEMs to invest in product innovation and R&D aimed at achieving
operational improvements, especially reduction in parasitic losses which
currently plagues most types of transmission systems including CVT, semi-automatic
and DCT. Growing global vehicle production, need for innovative technologies to
reduce vehicle emissions and improve fuel economy, as well as the focus on
improving the driving experience are expected to continue to transform the
market. A key trend influencing growth is the shift towards automatic
transmission systems encouraged by the exploding crisis of traffic congestion
in modern cities and the ensuing consumer emphasis on quality of driving experience.
Maneuverability in stop and go urban traffic is a key focus area for customers
purchasing a new car. Manual transmission in this regard is growing out of
favor while automatic transmission systems are gaining prominence for their
ability to increase comfort, convenient and reduce the driving effort. A key
noteworthy technology trend in the market is the growing focus on n-speed automatic systems with “n”
representing the number of forward gears. New transmission technologies are
racing towards the use of multiple numbers of gears and speeds. The rise of the
automatic transmission technology has increased the appetite for higher number
of gears among automobile engineers and large OEMs are injecting massive
resources into the development of octo-geared automatic transmission systems.
As
stated by the new market research report on Automotive Transmission Systems, Asia-Pacific represents the largest
market worldwide, supported by the region’s global prowess in the production auto
parts and components. The region is also set to emerge as the fastest growing
market with a CAGR of 9.3% over the analysis period led by factors such as growing
disposable incomes, strong domestic demand for automobiles, and increasing
presence of OEM off-shore production centers. Cross border transfer of technology
is additionally boosting the region’s auto manufacturing infrastructure, engineering skills and know
how.
Major players in the market include Aisin Seiki Co. Ltd., BorgWarner
Inc., Eaton Corporation plc, FPT Industrial S.p.A., General Motors Company,
Groupe Renault, Honda Transmission Manufacturing of America Inc., Hyundai Motor
Company, JATCO Ltd., Magna International Inc, Getrag B.V, Oerlikon Graziano,
Ricardo Plc, Subaru Corporation, Shaanxi Fast Auto Drive Group Company, TREMEC,
Volkswagen Aktiengesellschaft, Xtrac Limited and ZF Friedrichshafen AG, among
others.
The research report titled “Automotive
Transmission Systems: A Global Strategic Business Report”
announced by Global Industry Analysts Inc., provides a comprehensive review of
market trends, growth drivers, product innovations and strategic industry
activities of major companies worldwide. The report provides volume market
estimates and projections for all
major geographic markets including the United States,
Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of
Europe), Asia-Pacific (China, and Rest of Asia-Pacific), Latin America (Brazil,
and Rest of Latin America), and Rest of World. The global market for Automotive
Transmission Systems is also analyzed by the segments - Manual Transmission,
Automatic Transmission, Automated Manual Transmission, Continuously Variable
Transmission, Dual Clutch Transmission (DCT), and Other Transmission Systems
(E-Drive, and EVT (Hybrid)).
For
enquiries e-mail us at rsd@strategyr.com
or info411@strategyr.com
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