ALL >> Business >> View Article
Opportunities For Global Automotive Transmission To Reach $526.1 Billion By 2024
According to a new market report published by Lucintel, the future of the global automotive transmission market looks promising with opportunities in the passenger car, light commercial vehicle, and electric vehicle markets. The global automotive transmission market is expected to reach an estimated $526.1 billion by 2024 with a CAGR of 13.4% from 2019 to 2024. The major drivers for this market are increasing vehicle production and growing demand for lightweight transmission systems to enhance the driving experience.
In this market, automatic and manual transmissions are used to transmit vehicle engine power to driving wheels. On the basis of its comprehensive research, Lucintel forecasts that the automatic transmission will remain the largest segment and it also expected to witness the highest growth over the forecast period. Shifting consumer interest from manual to automatic transmission is the most disruptive trend due to ease of operation and low maintenance cost which is driving the automatic transmission market.
By 2025, it is expected that electric CVTs and AMTs with integrated electric motors ...
... will gain market share. There is a higher demand for Dedicated Hybrid Transmissions (DHT); manufacturers who are supplying these products can gain significant growth opportunities in the near future. Different strategies adopted by independent manual transmission suppliers to compete with the changing customer preferences towards automatic transmissions are as follows:
• Development of supplier-OEM or cross-OEM platform collaboration
• Innovation for powerful actuator for clutch actuation
• Changes in supply chain from an established in-house transmission part supply to external supply,
• Increasing investment by suppliers to adopt necessary technology transfer in order to grow production capabilities.
Within the global automotive transmission market, passenger cars will remain the largest segment due to increasing demand for compact, mid size, and luxury cars. Electric vehicle is expected to witness the highest growth over the forecast period due to government initiatives to promote the electric vehicles and increasing adoption of e-CVT (electric continuously variable transmission) system.
Asia Pacific will remain the largest region due to high vehicle production and increasing adoption of automatic transmission in mid size and compact cars. Europe is expected to witness highest growth over the forecast period because of rapidly increasing demand for automatic transmissions in small, compact, and mid-size cars.
Emerging trends, which have a direct impact on the dynamics of the industry, include the introduction of more efficient automatic transmission and increasing demand for hybrid and dual clutch transmission. Aisin Seiki, Robert Bosch, ZF Friedrichshafen, Continental, Magna, Eaton Corporation, GKN, Jatco, Borg Warner, Schaeffler are the major manufacturers of automotive transmission.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global automotive transmission market by vehicle type, transmission type, engine type, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Automotive Transmission Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global automotive transmission market by vehicle type, transmission type, engine type, and region as follows:
By Transmission Type [$B shipment analysis for 2013 – 2024]:
By Vehicle Type [$B shipment analysis for 2013 – 2024]:
• Passenger Car
o Compact Cars
o Mid-Size Cars
o Luxury Cars
• Electric Vehicles
By Engine Type [$B shipment analysis for 2013 – 2024]:
• IC Engine
• Electric Vehicles
By Region [$B shipment analysis for 2013 – 2024]:
• North America
o United Kingdom
• Asia Pacific
o South Korea
• Rest of the World
This 256-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at email@example.com. Lucintel offerings include Mass Transportation, Transportation Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Analysis.
Business Articles1. Best Property Preservation Updating Services In Alabama
Author: RPR Services
2. Expansion Of Photoresist & Photoresist Ancillaries Market Will Remain Close To Being Stagnant Through 2025
Author: Jack Martin
3. 6 Easy Ways To Protect Your Home From Burglaries
Author: AYS System
4. Difc Investment Crowdfunding Business License - 10 Leaves
5. How To Find The Most Profitable On-demand Business With Uber Clone App
Author: Maria Smith
6. How Does The Uber Clone App Work? How Do I Choose The Best Uber Clone Script?
Author: Uber clone scipt
7. How To Obtain Fssc 22000 Certification In 5 Simple Steps
8. Best Playschool Franchise - iris florets
9. 2507 Super Duplex Round Bars
Author: chhajed alloys
10. Why Do Businesses Opt For Commercial Housekeeping Services?
Author: Tuskers India
11. Benefits Of Outsourcing Housekeeping Services
Author: Tuskers India
12. Specific Details Regarding Frp Pipes
Author: D CHEL OIL AND GAS
13. Why Are On-demand Home Services Apps The Next Big Thing In The Business World?
Author: Lilac Homier
14. Same Day Payday Loans For Cash Advance For Your Convenience
Author: Amy Jones
15. Specific Details Regarding Forged Circles And Forged Rings
Author: kanak metal & alloys