Automotive Automatic Transmission System Market Research Report - Global Forecas

Posted by Market Research Future on March 20th, 2020

Market Synopsis:

Market Research Future (MRFR), in its newest “Automotive Automatic Transmission System Market” report, states that the global market of automotive automatic transmission system (AATS) is expected to thrive at a CAGR of 6% across the forecast period of 2017 and 2023. The growing demand for a comfortable ride for drivers is encouraging automakers to incorporate automotive automatic transmission systems in vehicles. This is expected to promote the growth of the global market of automotive automatic transmission system market through the evaluation period. 

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Market Insights

The growing need to make long-distance travel convenient for drivers and not cause fatigue to them are factors that are expected to fuel the growth of the global automotive automatic transmission system market. In addition, the inclination of people towards automation is surging the demand for luxury and smart vehicles. This can bolster the growth of the market. The increase in demand for automotive automatic transmission system components, such as automatic transmission fluid and converter, are expected to spur the market growth. On the contrary, some of the automatic transmission troubleshooting aspects, such as high installation cost and need for effective maintenance, are likely to restrict the market expansion.

Segmental Study

The global automatic transmission system market is segmented by fuel type, type, and vehicle type. By type, the market is segmented into continuously variable transmission (CVT), automated manual transmission (AMT), and Dual-Clutch transmission (DCT). By fuel, the market is segmented into gasoline, diesel, and hybrid. The increase in the demand for hybrid automobiles is identified to surge the sales of automotive automatic transmission system, which is expected to benefit its market. By vehicle type, the market is segmented into heavy commercial vehicle (HCV), light commercial vehicle (LCV), and passenger car. An increase in the need for heavy commercial vehicles is observed due to an increase in commercial transportation activities via road. This is triggering the need for convenient driving for long-distance travel. Hence, the need to incorporate automotive automatic transmission system in HCV is expected to contribute largely to the expansion of the market.

Regional Analysis

By region, the automatic transmission system market is studied across Asia Pacific, North America, Europe, and the Rest of the World (RoW).

MRFR identified that one of the major factors that can contribute to the fast-paced expansion of the automatic transmission system market in North America is the presence of numerous original equipment manufacturers. The growing need for automatic transmission system is rising the need for its components, such as automotive automatic torque converter and automatic transmission fluid. Improving sales of automatic transmission components are expected to impel the market in North America. The US is expected to generate significant revenue for the regional market in the years of evaluation as the demand for convenient personal car riding is high over public transportation.

In Europe, the use of public transport is higher than personal vehicles. The high rate of adoption of the automotive automatic transmission system by commercial vehicles and the growing demand for commercial vehicles are factors that can propel the market in Europe. Alongside, the ease of procuring resources and the availability of required components can also promote the growth of the regional automotive automatic transmission system market during the forecast period. As per MRFR regional insights, the existence of numerous automotive automatic transmission engineering corporations and the easy availability of affordable labors in Asia Pacific is expected to impel the market in the region. The Asia Pacific is regarded as the manufacturing hub for automobiles that can also be considered as an important factor that can fuel the growth of the APAC automotive automatic transmission system market.

Key Players

MRFR listed a few players that are operating in the global automatic transmission system market. They are Allison Transmission (USA), Aisin Seiki Co., Ltd. (Japan), Continental AG (Germany), Magna International Inc. (Canada), BorgWarner Inc. (USA), GETRAG (Germany), Eaton Corporation PLC (Republic of Ireland), JATCO Ltd. (Japan), GKN PLC (UK), and ZF Friedrichshafen AG (Germany).