PUBLISHER: DataM Intelligence | PRODUCT CODE: 1575803
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1575803
Overview
Global Automotive Transmission Market reached US$ 96.67 billion in 2023 and is expected to reach US$ 154.14 billion by 2031, growing with a CAGR of 6.01% during the forecast period 2024-2031.
Technological developments and the evolution of transmission systems according to performance needs for various vehicle types, including Heavy Commercial Vehicles (HCVs) and passenger vehicles, are anticipated to propel market expansion during the forecast period. Automotive OEMs are implementing advanced technology, such as Automated Manual Transmission (AMT), to reduce fuel consumption and CO2 emissions while maintaining performance.
The trend of individualized design in passenger automobiles has significantly disrupted numerous vehicle categories. This has resulted in extensive variation in gearbox design, tailored solutions and competitive concepts: manual, automatic, automated manual transmission (AMT), continuously variable transmission (CVT), dual-clutch transmission (DCT) and hybrid drive.
AMT has attained success in the large commercial vehicle sector in Europe. Their trajectory transitions from semi-automatic design to fully automated transmission. The integration of sub-modules and peripheral components into automotive transmissions leads to more compact, lightweight and durable assemblies.
Dynamics
Growing Demand for Automatic Automotive Transmission
The rapid use of cutting-edge technology in the automotive industry is propelling market growth. Automatic gearbox is predominantly employed in passenger vehicles because to the increasing demand for convenience, enhanced comfort and ease of use. The increasing global traffic is driving consumers to acquire vehicles equipped with automatic systems.
Prominent automotive manufacturers are investing significantly in research to develop technologies that satisfy the increasing demand for environmentally sustainable and enjoyable driving experiences. Autonomous vehicles are captivating the interest of the younger demographic due to enhanced and effortless driving experiences. The increasing prominence of automation, advanced technology and new automobiles is positively influencing market growth.
Rising Usage of Lightweight Transmission Systems
The implementation of government requirements regarding safety, carbon emissions and lightweight automobiles compels original equipment manufacturers to utilize components that contribute to a comprehensive decrease in vehicle weight. Technological developments are crucial, since the utilization of lightweight materials like aluminum, magnesium and high-strength steel composites in transmission components provides considerable weight savings while maintaining strength and durability.
Lightweight transmissions have numerous economic advantages. They improved fuel economy, decreasing customer operating expenses and minimizing CO2 emissions. Moreover, weight reduction enhances vehicle performance, encompassing acceleration, steering and braking. From a production perspective, lighter components can save manufacturing expenses by minimizing material consumption and streamlining manufacturing processes. Transmission suppliers allocate resources to research and development to provide lighter, more efficient transmission solutions that meet the changing demands of the automotive transmission market.
Increasing Adoption of Electric Vehicles
The global automotive industry is experiencing a transition from conventional fuel-powered vehicles to electric automobiles. An electric vehicle does not require gears, as the electric motor delivers greater torque at zero RPM compared to internal combustion engines fueled by conventional sources. The electric motor consistently generates a magnetic field that induces rotation, thereby propelling the drive wheel of an electric vehicle. Consequently, the electric car may not require the grab system.
Furthermore, the emissions from these vehicles' fuels are contributing to air pollution and a climate change crisis. Automobile manufacturers are increasingly prioritizing viable energy sources by investing significantly in research to develop advanced electric automobiles. The consumer inclination towards zero-emission vehicles and governmental allocations to the automotive industry may enhance the electric vehicle portfolio. This could negatively impact this market.
The global automotive transmission market is segmented based on engine, type, fuel type, vehicle type and region.
Based on Fuel Type, Gasoline Sub-Segment Dominated the Market
Gasoline vehicles adhere to nearly all pollution standards. They are more efficient and emit less gas than their diesel cousins. The increasing demand for gasoline in nations like US, China and India is expected to propel segment expansion over the forecast period. The International Energy Agency (IEA) projects an increase in gasoline consumption in the next years, driven by rapidly expanding markets in Asia, Central and South America, Africa and the Middle East, which represented over 70% of world demand growth in 2021.
Diesel vehicles exhibit substantial demand due to their elevated compression ratio, which facilitates enhanced engine efficiency. A diesel engine is less complex than a gasoline engine, as it does not necessitate an electrical system or spark plugs. This engine type is extensively utilized in automobiles and SUVs due to its enhanced performance, comparable to that of a gasoline engine, while providing superior fuel efficiency and reliability.
Asia-Pacific is estimated to account for the largest share
Asia-Pacific automotive transmission industry is propelled by substantial expansion, increasing disposable incomes and shifting customer preferences towards automated gearboxes. The region's swift growth in vehicle sales, especially in nations like as China and India, drives demand for gearboxes, with a significant transition towards automatic systems owing to rising urbanization and rigorous governmental mandates on fuel efficiency and emissions.
Localization initiatives and cost efficiency enhance this expansion as both foreign and domestic transmission manufacturers develop production facilities in the region to meet the increasing market demand. China leads the market, propelled by significant automotive expansion and a need for high-end vehicles featuring sophisticated transmissions.
Simultaneously, the emergence of compact, fuel-efficient vehicles equipped with automatic transmissions across India and Southeast Asia signifies evolving customer tastes and urbanization patterns. Infrastructure growth, customer affordability and fierce market rivalry require ongoing innovation and strategic initiatives to sustain market leadership in the rapidly evolving Asia-Pacific automobile transmission sector.
The major global players in the market include Aisin Corporation, ZF Friedrichshafen AG, Magna International Inc., JATCO Ltd , Eaton Corporation, Hyundai Transys, Allison Transmissions, Schaeffler AG, BorgWarner Inc., Vitesco Technologies and GKN Automotive.
The Russia-Ukraine conflict has interrupted global automobile supply chains, significantly impacting the availability of essential raw materials for transmission systems. Ukraine is a significant supplier of wire harnesses and other automotive components and its manufacturing decline has resulted in supply chain disruptions for transmission manufacturers. Moreover, escalating costs for components like as aluminum, steel and energy resulting from the conflict have heightened production expenses, affecting transmission producers worldwide.
Sanctions imposed on Russia have restricted access to Russian-manufactured automotive components and supplies, hence exacerbating supply chain constraints. Companies dependent on Russian suppliers are now compelled to seek alternate sources, resulting in delays and heightened expenses. The war's overall impact has impeded manufacturing schedules, elevated transmission costs and restricted the worldwide car industry, especially in Europe.
The global automotive transmission market report would provide approximately 73 tables, 64 figures and 214 pages.
Target Audience 2024
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