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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Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.

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