Transmission System Market Global Research Report 2019 Analysis & Forecast
Posted by Rishikesh Kurane on December 2nd, 2019
Automotive Transmission Market 2019 Share, Size, Trends, And Business Opportunity Analysis Report include historic data, with forecast data to 2022. Automotive Transmission Industry report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global key players forecast to 2022.
As per a detailed analysis by Market Research Future (MRFR), the global automotive transmission market is anticipated to register a CAGR of 6% during the forecast period (2017-2023). The transmission system can be defined as the mechanism through which the process of transferring the power from the engine to wheels by using automatically changing gear ratios takes place. It uses a set of gears or pulleys to ensure the alternating torque and speed from engine to the wheel of a particular vehicle.
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Market Potential and Pitfalls
The automotive transmission market has witnessed a tectonic surge over the past few years due to the surging number of lightweight commercial vehicles and passenger cars across the globe. The increased demand for fuel-efficient vehicles coupled with the rising preference for smooth driving experience by the consumers, has triggered the demand for automotive transmission market. The shifting preference of the consumers from manual to automatic transmission owing to the ease of operation is driving the market growth. Due to new regulatory norms by the governments for reduced fuel consumption and emission control, the demand for electrification of vehicle systems is rising. Government agencies are thus implementing strict regulatory frameworks associated with emission norms. Such factors are likely to demonstrate a promising pace of expansion in the long run.
On the contrary, the high cost of advanced transmission systems is considered to be one of the major concerns restricting the growth of the automotive transmission market in the foreseeable future.
Global Automotive Transmission Market: Segmental Analysis
The automotive transmission market is segmented on the basis of type, vehicle type, and fuel type.
By mode of type, the automotive transmission market is segmented into manual, automatic, continuous variable transmission (CVT), automatic manual transmission (AMT), and dual clutch transmission (DCT).
The vehicle type of automotive transmission market comprises light commercial vehicle (LCV), heavy commercial vehicle (HCV), and passenger car. Among these, the passenger car segment is estimated to acquire the highest share in terms of volume and value. The increasing demand for passenger vehicles due to rising purchase power is driving the revenue growth of the segment.
Based on fuel type, the market is bifurcated into diesel, gasoline, and others.
Geographically, the automotive transmission market span across regions, namely, Europe, North America, Asia Pacific, and the Rest-of-the-World (RoW).
Considering the global scenario, the Asia Pacific region is predicted to dominate the automotive transmission market due to the augmenting production of LCV and passenger cars, especially in the developing nations of the region. Several OEM’s are opening their production facilities, especially in India and China, which is contributing to its growth. The region has become the largest regional industry for alternative fuel passenger cars owing to the booming automobile sector and rapid industrialization. The trend is observed mainly due to incentives and tax breaks to the participants in the sector. Such factors are highly influencing the growth of the market in this region.
North America is predicted to bag the second position in the global market due to the surging demand for automated manual transmission (AMT) is likely to boost the growth of the market. Manufacturing hubs in terms of technology is anticipated to strengthen the growth in the coming years. The region is predicted to acquire the lion’s share due to the unpopular public transport in the U.S., due to which people use personal vehicles. As passenger vehicles in the U.S. require to cover long distances, the hassle-free automatic transmission is always preferred over manual transmission. Such factors have triggered the demand for automobile transmission market in this region.
May 26, 2019: Renault, the French automaker has considered a merger proposed by FCA, which is the parent company of Fiat, Jeep, Chrysler. This would make the combined company the third largest automaker worldwide. Fiat proposed that the shareholders of both the companies will be receiving 50 percent share of the new company. The combination is likely to have a total value of billion on the stock market.
The prominent players dominating the global automotive transmission market includes Aisin Seiki Co. Ltd. (Japan), Allison Transmission Inc. (U.S.), BorgWarner Inc. (U.S.), Continental AG (Germany), GKN PLC (U.K.), Eaton Corporation PLC (Ireland), Magna International Inc. (Canada), Jatco Ltd. (U.S.), Schaeffler AG (Germany), and ZF Friedrichshafen AG (Germany).
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About the AuthorRishikesh Kurane
Joined: May 4th, 2018
Articles Posted: 1,128
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