PUBLISHER: The Business Research Company | PRODUCT CODE: 1526886
PUBLISHER: The Business Research Company | PRODUCT CODE: 1526886
Automotive automatic transmission refers to a type of vehicle transmission that automatically adjusts the gear ratios as the vehicle moves, eliminating the need for manual gear shifting by the driver. This system enhances driving convenience and efficiency through the use of hydraulics, sensors, and electronic controls.
The primary types of automotive automatic transmission include automatic transmission, automated manual transmission, dual clutch transmission, and continuously variable transmission. Automatic transmission is a gearbox that automatically adjusts gear ratios while driving, providing a smoother and more convenient driving experience. These transmissions can accommodate various fuel types such as gasoline, diesel, and hybrid, and are utilized in vehicles ranging from passenger cars to light and heavy commercial vehicles.
The automotive automatic transmission market research report is one of a series of new reports from The Business Research Company that provides automotive automatic transmission market statistics, including the automotive automatic transmission industry global market size, regional shares, competitors with the automotive automatic transmission market share, detailed automotive automatic transmission market segments, market trends, and opportunities, and any further data you may need to thrive in the automotive automatic transmission industry. These automotive automatic transmission market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The automotive automatic transmission market size has grown strongly in recent years. It will grow from $62.55 billion in 2023 to $67.44 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth observed during the historic period can be attributed to several factors, including the increased integration of hybrid and plug-in hybrid systems, rising demand for vehicles equipped with automatic transmission, a shift towards improving fuel efficiency and reducing emissions, growing consumer preference for convenience and ease of driving, and the global expansion of the automotive industry.
The automotive automatic transmission market size is expected to see strong growth in the next few years. It will grow to $91.48 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing adoption of electric vehicles equipped with automatic transmissions, the integration of advanced driver-assistance systems (ADAS) into transmissions, regulatory pressure towards stricter emission standards, the expansion of ride-sharing and autonomous vehicle fleets, and innovations in materials and manufacturing processes aimed at producing lighter and more efficient transmissions. Major trends expected in the forecast period include a shift towards dual-clutch and continuously variable transmissions, technological advancements in transmission systems, the development of predictive maintenance solutions for transmissions, an emphasis on connectivity and communication within transmission systems, and the growth of subscription-based transmission services and upgrades.
The automotive automatic transmission market is poised for growth, driven by the increasing adoption of electric vehicles in the foreseeable future. Electric and hybrid vehicles utilize one or more electric motors, either independently or in conjunction with internal combustion engines, offering benefits such as reduced environmental impact and enhanced energy efficiency. The growing preference for electric vehicles stems from concerns about the environment, government incentives, advancements in battery technology, and rising consumer demand for fuel-efficient options. Automotive automatic transmission systems play a crucial role in managing power delivery and improving driving performance efficiently in electric vehicles. For example, data from the International Energy Agency (IEA) in April 2023 revealed a significant increase in global electric car sales, reaching 3.5 million units compared to the previous year, marking a notable 35% year-on-year growth. Hence, the surge towards electric vehicles is propelling the growth of the automotive automatic transmission market.
Key players in the automotive automatic transmission market are concentrating on developing innovative systems, such as intelligent clutch heat mapping algorithms, to stay competitive. These algorithms, integrated into automotive automatic transmission systems, monitor and optimize clutch mechanisms' operation through sophisticated software. For instance, ZF India, a subsidiary of ZF Friedrichshafen AG, introduced the EcoTronic Mid Automated Manual Transmission (AMT) system for commercial vehicles in July 2022. This system enhances fleet operational efficiency by offering insights to improve driving performance, particularly in challenging terrains. The locally manufactured transmission supports various applications such as road transportation, passenger transport, and mining, ensuring ease of operation and reliability.
In August 2021, ATC Drivetrain, a US-based remanufacturer of automotive powertrain and drivetrain systems, acquired H.L. Smith Transmissions Ltd. (HLS) to strengthen its position in the automotive automatic transmission market. This strategic move integrates HLS's expertise in remanufacturing transmissions, including potential offerings in automatic transmissions for commercial vehicles, enhancing ATC's competitiveness. H.L. Smith Transmissions Ltd. (HLS), based in the UK, specializes in providing automotive automatic transmissions.
Major companies operating in the automotive automatic transmission market are Ford Motor Company, General Motors, Continental AG, ZF Friedrichshafen AG, Magna International Inc., Aisin Seiki Co. Ltd., Eaton Corporation PLC, Schaeffler AG, BorgWarner Inc., JTEKT Corporation, Dana Incorporated, NTN Corporation, GKN Automotive Limited, Voith Group, AVL List GmbH, Allison Transmission Inc., Ricardo plc, Tremec Corporation, Punch Powertrain NV, JATCO Ltd., Honda Transmission Manufacturing of America, GETRAG, Hyundai PowerTech Co. Ltd.
North America was the largest region in the automotive automatic transmission market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive automatic transmission market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the automotive automatic transmission market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The automotive automatic transmission market consists of sales of torque converters, planetary gear sets, hydraulic pumps, valve bodies, and electronic control units (ECU). Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Automotive Automatic Transmission Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive automatic transmission market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive automatic transmission ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The automotive automatic transmission market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.