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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 firstname.lastname@example.org. Lucintel offerings include Mass Transportation, Transportation Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Analysis.
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