May 18, 2022   SOURCE: BusinessWire

Automotive Transmission Market by Transmission Type, Fuel Type, Vehicle Type, Hybrid Vehicle, Two-Wheeler Transmission, Number of Forward Gears and Region - Global Forecast to 2027 - ResearchAndMarkets.com

The "Global Automotive Transmission Market by Transmission Type (Manual Transmission, Automatic Transmission, CVT, DCT, AMT), Fuel Type, Vehicle Type, Hybrid Vehicle, Two-Wheeler Transmission, Number of Forward Gears and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global automotive transmission market is estimated to grow at a CAGR of 6.2% during the forecast period, from USD 59.9 billion in 2022 to USD 80.8 billion by 2027.

The automotive industry is continuously evolving, with an increasing focus on electric and hybrid vehicles. The adoption of strict emission norms by the governments of major countries has increased the penetration of electric and hybrid vehicles. According to the US EPA, the transportation sector accounted for 28% of the total GHG emissions in 2018, becoming one of the leading causes of the increasing global temperatures. Governments and OEMs are, therefore, taking initiatives to reduce automotive emissions.

The passenger car segment is estimated to be the largest automotive transmission market, by vehicle

The passenger cars segment is projected to lead the automotive transmission market during the forecast period due to the higher production of passenger cars than other vehicle segments. The passenger cars segment is estimated to account for 76% of the global automotive transmission market in terms of volume in 2022. The growing role of transmission in passenger cars, coupled with the growing influence of fuel-efficient systems, has been propelling the growth of the automotive transmission market.

The demand for manual transmission in passenger cars is higher in Asia Pacific and Europe than in North America. Currently, the penetration of manual transmission is less than 2%. For example, Toyota only offers five car models with manual transmissions. Of those five, only a few are being purchased by consumers. The market in Asia Pacific is expected to decline in terms of volume, during the forecast period due to the high adoption of advanced transmission systems in countries such as China, Japan, and South Korea.

Asia Pacific automotive transmission market is projected to grow at a significant rate during the forecast period

The major growth drivers for the Asia Pacific automotive transmission market include shift in consumer preference toward advanced automotive transmission systems such AT, AMT, CVT, and DCT that would ensure a smooth driving experience in Heavy traffic and increasing vehicle congestion in urban areas.

Significant demand for high-end premium vehicles with advanced transmission systems such as AMT, DCT and CVT are fuelling the growth in the region. Also, the consumers has preference for products with low maintenance cost. The presence of major automobile manufacturers, combined with technological prowess, would result in a significant rise in the demand for advanced transmission systems and components in Asia Pacific.

Market Dynamics

Drivers

  • Consumer Preference for Enhanced Driving Experience and Smooth Gear Shifting
  • Increase in Demand for Fuel-Efficient Cars
  • Growing Demand for Lightweight Transmission Systems
  • Collaboration of Leading Auto-Manufacturers with Domestic Players

Restraints

  • High Cost of Adoption and Frequent Maintenance of Advanced Transmission Systems
  • High Cost Involved and Volatility in Raw Material Costs

Opportunities

  • Wide Acceptance of Cvt as a Key Technology for Fuel Efficiency and Lower Emissions
  • Increasing Adoption of Automatic Transmissions and Development of Hybrid Drives
  • Growing Demand for Electric Vehicles

Challenges

  • Decline in Vehicle Sales and Production due to Semiconductor Shortage and COVID-19
  • High Costs of Lightweight and Efficient Transmissions
  • Energy-Saving During Flow of Power
  • Market Dynamics

Companies Mentioned

  • Aisin Corporation
  • Allison Transmission Inc.
  • Aw Suzhou Co., Ltd.
  • Borgwarner Inc.
  • Daihatsu
  • Dana Graziano S.R.L.
  • Eaton Corporation
  • Ford
  • General Motors
  • Gkn Automotive
  • Hyundai Transys
  • Jatco (Nissan Motor Corp.)
  • Kate LLC
  • Maclean-Fogg Component Solutions, LLC.
  • Magna International
  • Maruti Suzuki
  • Mazda
  • Mubea, Inc
  • Nemak Aluminio Do Brasil Ltda
  • Schaeffler Ag
  • Star Assembly Srl
  • Subaru
  • Tremec Corporation
  • Vitesco Technologies
  • Zf Friedrichshafen

For more information about this report visit https://www.researchandmarkets.com/r/sqapab