Automotive Transmission Market Size to Reach USD 211.85 Billion by 2028 | Growth Rate Analysis and Competitive Landscape

Posted on 2022-10-11 by researchinsights in Automotive // 0 Comments

San Francisco, California , USA, Oct 11, 2022 — /EPR Network/ —

Automotive Transmission Industry Overview

The global automotive transmission market size was valued at USD 152.32 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.2% from 2021 to 2028.

The COVID-19 pandemic has negatively impacted the automobile industry, leading to sluggish growth of the automotive transmission market as a result of declined automotive sales or new requirements. On the other hand, technological advancements and the evolution of transmission systems as per performance requirements across several vehicle types, including Heavy Commercial Vehicles (HCVs) and passenger cars, are expected to drive the market growth over the forecast period. Automotive OEMs are adopting advanced systems, such as Automated Manual Transmission (AMT), with minimized fuel consumption and CO₂ emissions without compromising on performance.

Gather more insights about the market drivers, restrains and growth of the Global Automotive Transmission market

Rapid technological advancements in automotive transmission manufacturing are expected to boost the market growth. In addition, the increasing adoption of Continuously Variable Transmission (CVT) and Dual Clutch Transmission (DCT) technologies over manual and automatic systems, owing to the shift in demand for fuel-efficient products with increased performance, is anticipated to drive the market over the forecast period. Many auto manufacturers are introducing Intelligent Manual Transmission (IMT) that allows drivers to work the gears without clutch depressing.

Automobile component manufacturers in the industry are striving to provide cost-efficient solutions without compromising on vehicle performance. They are implementing numerous growth strategies to meet the increasing demand for transmission systems across the automobile industry. For instance, Aisin Seiki Co., Ltd. is focused on consolidating development and production capabilities for Toyota Motor Corp.’s manual transmission products under Aisin AI. Consolidating their capabilities will enable the companies to meet the worldwide demand and strengthen the competitiveness of their manual systems business.

Manufacturers in the industry are required to abide by stringent regulations. In August 2006, the National Highway Traffic Safety Administration (NHTSA) under the Federal Motor Vehicle Safety Standards (FMVSS) announced an agreement with the Association of International Automobile Manufacturers and Alliance of Automobile Manufacturers to make sure that every vehicle with automatic transmissions sold in the U.S. is equipped with brake transmission system interlocks.

The economy worldwide has witnessed a massive setback due to the COVID-19 pandemic, thus negatively impacting automobile production. The aftermath of COVID-19 has resulted in supply chain disruptions with several production facilities coming to a halt. Moreover, it has taken a toll on passenger and commercial vehicle sales, subsequently impacting the demand for automotive transmission. Europe was the leading regional market in the past, in terms of product sales; however, the adoption rate has recently witnessed a decline due to a dip in vehicle sales in the region. Europe will see mixed recovery cycles owing to the economic stimulus packages and local restrictions. According to the German Association of the Automotive Industry (VDA), in Europe, 5.1 million passenger cars were registered in the first half of 2020, which was 39% lesser than in 2019. Moreover, the sales for passenger vehicles in the U.S. were down by around 26% in 2020 compared to the previous year.

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Automotive Transmission Market Segmentation

Grand View Research has segmented the global automotive transmission market on the basis of transmission type, fuel type, vehicle type, and region:

Automotive Transmission Type Outlook (Revenue, USD Billion, 2016 – 2028)

Manual
Automatic

Automotive Transmission Fuel Type Outlook (Revenue, USD Billion, 2016 – 2028)

Gasoline
Diesel
Others

Automotive Transmission Vehicle Type Outlook (Revenue, USD Billion, 2016 – 2028)

Passenger Cars
LCVs
HCVs

Automotive Transmission Regional Outlook (Revenue, USD Billion, 2016 – 2028)

North America
Europe
Asia Pacific
Rest of the World

Key Companies profiled:

Some prominent players in the global Automotive Transmission market include

Aisin Seiki Co., Ltd.
Allison Transmission, Inc.
BorgWarner Inc.
Continental AG
Eaton Corporation PLC
Getrag
GKN PLC
Jatco Ltd.
Magna International, Inc.
ZF Friedrichshafen AG

Order a free sample PDF of the Automotive Transmission Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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