Worldwide Sales of Automotive Transmission Systems to Climb to US$ 79.95 Billion by 2033-End

Rockville, United States, 2023-Jun-19 — /EPR Network/ —

According to Fact.MR, the market for automotive gearbox systems is expected to reach more than US$ 38 Bn by the end of 2021. Automotive gearbox system sales are predicted to soar as a result of the rapid production and sales of vehicles around the globe.

The market for automotive gearbox systems will be worth around US$ 70.2 Bn by the end of 2031, growing at a 6.3% CAGR between 2021 and 2031. The International Organisation of Motor Vehicle Manufacturers (OICA) estimates that approximately 40 million vehicles will be produced worldwide between January and June of 2021. As a result, there will be a large demand for automotive gearbox systems as vehicle production increases.

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According to Fact.MR, manual automobile gearbox systems will remain the dominating category during the projection period, accounting for more than half of market revenue. Due to their higher fuel efficiency and lower maintenance requirements, manual gearbox cars will become more popular, which will encourage segment growth.

“Imminent shift to electrification, new developments, and design possibilities are likely to bring in a slew of innovations specific to automotive transmission systems. Manufacturers are leveraging modern technologies to reduce weight of the automotive transmission systems in order to improve fuel efficiency. This is expected to generate lucrative revenues for market players,” says a Fact.MR analyst.

Key Takeaways from Automotive transmission system Market Survey

• Asia will continue to remain the largest market for automotive transmission system, accounting for around 35% market share by 2031-end.
• With the booming automotive industry, China is projected to witness the fastest growth across Asia during the forecast period.
• As per Fact.MR, North America market will account for 25% of the global market revenue share through 2031.
• In terms of fuel type, gasoline vehicles segment is slated to account for over 55% market share during the assessment period.
• Based on transmission type, manual automotive transmission system will retain its dominance, generating over 50% market revenue through 2031.

Key Drivers

• Rising preference for enhanced driving experience in terms of smooth gear shifting and improved acceleration will augment the sales of better and high-speed automotive transmission systems.
• Soaring demand for high end cars across North America and Europe is expected to increase the demand for advanced transmission systems such as AT, CVT and DCT.
• Stringent carbon emission regulations coupled with surging need for fuel-efficient transmission system is positively impacting the growth of the market.
• Rapid technological advancements in automotive transmission system is anticipated to boost the market.

Competitive Landscape

Leading manufacturers are focusing on key expansion approaches, including the introduction of automotive equipped with the latest transmission systems, mergers, partnerships, and collaborations to expend their global footprint.

For instance:

• In February 2020, Hyundai Motor Company and Kia Motors Corporation announced that they have developed the world’s first predictive Information and Communication Technology (ICT) Connected Shift System, enabling the vehicle to automatically shift to the optimal gear after identifying the road and traffic conditions ahead. Moreover, the two companies are planning to further develop the ICT Connected Shift System into an even more intelligent transmission technology that can communicate with traffic signals based on LTE or 5G communication and identify drivers’ tendencies, resulting in further refinement of gear-shift control.
• In October 2020, Vitesco Technologies, a leading international manufacturer of modern drive technologies and electrification solutions, launched the world’s first transmission control system with comprehensive overmolding technology.

Some of the prominent players operating in the automotive transmission system market profiled by Fact.MR are:

• Aisin Seiki Co. Ltd.
• Renault SA
• Continental AG
• Magna International Inc.
• Eaton Corporation PLC
• Hyundai Motor Company
• Others

More Insights on the Automotive Transmission System Sales Outlook

Fact.MR, in its new report, offers an in-depth study of the global automotive transmission system market, highlighting the growth prospects of the market through 2021 and beyond. The study divulges compelling insights on the global demand for automotive transmission system with a detailed segmentation on the basis of:

Transmission Type

• Manual Automotive Transmission System
• Automatic Automotive Transmission System
• Automated Manual Automotive Transmission System
• Dual Clutch Automotive Transmission System
• Continuously Variable Automotive Transmission System

Vehicle Type

• PC Automotive Transmission System
• LCV Automotive Transmission System
• HCV Automotive Transmission System

Fuel Type

• Automotive Transmission System for Gasoline Vehicles
• Automotive Transmission System for Diesel Vehicles

Key Questions Covered in the Automotive Transmission System Market Outlook Report

• The report offers insight into automotive transmission system demand outlook for 2021-2031
• The market study also highlights projected sales growth for automotive transmission system market between 2021 and 2031
• Automotive transmission system market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
• Automotive transmission system market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.

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