Global Automotive Transmission Market growing at a CAGR of 6.2% from 2023 to 2030
Category : Automotive Services | Published Date : May 2023 | Type : Press Release
Key Market Overview
The global automotive transmission market was valued at USD 72.98 Billion in 2022 and is projected to grow at a compound annual growth rate of 6.2% during the period 2023-2030, according to a recent report by Consegic Business Intelligence. In addition, the market is expected to reach USD 115.43 Billion by 2030 owing to the growing demand for fuel-efficient vehicles.
Consegic Business Intelligence provides an inclusive research report on the automotive transmission market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.
Automotive transmission market By Overview
The report analyses significant segments such as type, engine type, vehicle type, and region, to identify emerging trends and potential opportunities. The type segment is expected to grow owing to the advancements in technology including electrification that enables more precise control over the vehicle's speed and acceleration. Moreover, the transmission offers superior fuel efficiency, smoother shifting, and reduced emissions in the automotive industry further driving the growth of the automotive transmission market.
Get Free SampleMarket Dynamics
Driver:
- The advancements in the technology of automotive transmission namely electrification, provides a seamless power delivery experience without changing gears.
- The increasing demand for fuel-efficient vehicles to improve efficiency by optimizing the engine's delivery power to the wheels is driving the market growth.
- The increasing demand for lightweight transmission systems to offer reduced carbon emissions and improved performance is promoting the market growth.
Restraints:
- Strict government regulations on the use of IC vehicles restrain the market growth.
- The push towards zero-emission vehicles is reducing the demand for traditional transmissions, hindering the growth of the automotive transmission market.
Market Segmentation:
| Report Attributes | Report Details |
| By Type | Manual Transmission, Automatic Transmission, Automated Manual Transmission (AMT), Continuously Variable Transmission (CVT), Dual Clutch Transmission (DCT), and Tiptronic Transmission |
| By Engine Type | IC Engine and Electric Engine |
| By Vehicle Type | Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The automotive transmission market is dominated by certain major companies such as Suzuki Motor Corporation, ZF Friedrichshafen AG, Hyundai Motor Company, and Eaton Corporation plc that have a strong market position in current market circumstances. Further, the automotive transmission market is expected to witness significant growth in coming years owing to the ability to offer superior fuel efficiency in comparison to traditional automatic transmissions. The market players compete for a firm market position through mergers and acquisitions, product innovations, and business strategies. Thus, evolving research and developments in automotive transmission are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various end-use industries.
- Suzuki Motor Corporation
- ZF Friedrichshafen AG
- Hyundai Motor Company
- Eaton Corporation plc
- Tata Motors Limited
- Lotus Cars Limited
- Magna International Inc.
- JATCO Ltd
- Aisin Seiki Co. Ltd.
- Allison Transmission Holdings Inc.
