Automotive Transmission Market Projected to reach $80.8 billion by 2027

 The report "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 - Global Forecast to 2027", is projected to reach USD 80.8 billion by 2027 from USD 59.9 billion in 2022, at a CAGR of 6.2% during the forecast period. Technological advancements in current generation automotive transmissions, Increasing customer preference for convenience, premium transmissions are further expected to drive the automotive transmission market. Overall, the changing preferences of buyers, improved standards of living, and focus of OEMs to provide comfort and convenience are also expected to drive the growth of the automotive transmission market.

Browse 237 market data Tables and 76 Figures spread through 253 Pages and in-depth TOC on “Automotive Transmission Market”

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1063

CVT, by Number of forward gears, is estimated to be the fastest-growing automotive transmission market during the forecast period.

The CVT is an automatic transmission that consists of two pulleys connected by a steel belt. The CVT varies the diameter of the "drive pulley" that transmits torque from the engine and the "driven pulley" that sends torque to the wheels at the same time to continually vary gear ratios. The CVT can avoid shift-shock and deliver smooth driving thanks to stepless gear ratio shifting, making it an excellent transmission alternative. Growing craze of SUV’s worldwide is a good opportunity for automatic transmissions as automatics makes city drive hassle free.

The growing importance of CVT is a great opportunity for transmission manufacturers to increase their market share, as it not only provides better fuel efficiency but also reduces the carbon emissions of a vehicle. This type of transmission is used mainly in hybrid and electric vehicles, the demand for which is on the rise due to the growing concern regarding the environment. Another reason for CVT systems gaining importance among consumers is that it provides higher potential efficiency improvement of ~6% as compared to MT and AT, along with increased savings over a vehicle’s lifetime of up to USD 1,800.

Passenger car segment, by vehicle type, is estimated to be the largest segment during the forecast period.

With increase in demand for comfort and ease to drive vehicles, OEMs are launching new and updated models with loaded features and advanced transmissions. The passenger cars segment is estimated to account for a share of 75% of the global automotive transmission market by volume in 2022. Passenger cars comprise sedans, hatchbacks, station wagons, SUVs, MUVs, and vans. The growing role of transmission in passenger cars, coupled with growing influence of fuel-efficient systems, has been propelling the growth of the automotive transmission market in the passenger car segment. The technologies used in passenger vehicles are frequently changing due to the high demand from consumers for luxury and convenience features. Also, government regulations for emissions and safety for passenger vehicles are frequently changing. The manufacturers must reduce the weight of passenger vehicles and offer comfort and safety at a lower price. Due to the increasing demand for autonomous and electric vehicles, the demand for new transmissions is increasing in passenger vehicles.

Asia Pacific is estimated to be the fastest-growing market for automotive transmission in 2022

The Chinese market is the largest in the Asia-Pacific and is witnessing significant growth in the demand for and sales of premium vehicles. China is one of the major markets for premium vehicles, given the rising disposable income in the country. Nearly all major OEMs have invested in the Chinese market, which is inclined towards small and affordable passenger vehicles. A surge in demand for sophisticated automated transmission is expected, as the current market penetration of vehicles with automated transmission systems is low compared to that in developed countries. The growing automotive production levels in China have raised the demand for automotive transmission systems. This region is also expected to welcome the energy saving green cars to their economy.

Key Market Players:

The key players in the automotive transmission market include ZF Friedrichshafen (Germany), MAGNA International (Canada), Aisin Corporation (Japan), Eaton Corporation(Japan), Hyundai Transys(South Korea), Allison transmissions(US), Vitesco Technologies(Germany), Schaeffler AG(Germany), BorgWarner(US), GKN Automotive(UK), and Jatco (Japan) and more

Request Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=1063

Comments

Post a Comment

Popular posts from this blog

In-Vehicle Infotainment Market Growth Insights: Size, Share, and Trends by 2028

  The  in-vehicle infotainment market is projected to grow from USD  16.4 billion in 2023 to USD  28.3 billion by 2028, at a CAGR of 11.6%. Government mandates on vehicles and the emergence of various technologies such as 5G and AI, and ADAS and other autonomous solutions are expected to offer promising growth opportunities in the In-vehicle infotainment market. The growth of the in-vehicle infotainment market can be attributed to the rising demand for entertainment, safety & security, navigation services, and rear-seat entertainment. Additionally, factors such as government mandates for electronic logging devices (ELD), growth in the smartphone industry, 5G infrastructure, and use of cloud technologies with artificial intelligence would create promising growth opportunities in the In-vehicle infotainment market. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=538 “Embedded infotainments are estimated to accou...
Read more

Battery Sensor Market Projected to reach $4.92 billion by 2025

  The report  “ Battery Sensor Market  by Voltage Type (12V, 24V, and 48V), Communication Technology (LIN and CAN), Hybrid Vehicle (HEV and PHEV), Vehicle Type (Passenger Car, LCV and HCV), and Region – Global Forecast to 2025″ , The automotive battery sensor market is estimated to be USD 2.35 billion in 2018 and is projected to reach a market size of USD 4.92 billion by 2025, growing at a CAGR of 11.09% during the forecast period. The market is driven by factors such as the rising demand for fuel-efficient vehicles, increasing vehicle production, rising emission concerns, and growing demand for high- end cars. The 12V segment is estimated to be the fastest growing in the Battery Sensor Market   during the forecast period The increasing demand for fuel-efficient vehicles has led to the introduction of IBS for 12V lead-acid batteries. IBS helps to curb CO2 emissions and increases the fuel efficiency of a vehicle. It also helps to optimize the electrical power system a...
Read more

Hybrid Vehicle Strategies: OEM Portfolio Outlook & Market Forecast to 2030

The hybrid market is projected to grow from 12.4 million units in 2024 to 28.5 million units by 2030 at a CAGR of 13.0%. The major drivers of the market are stringent emission norms set by the governments, an increase in the adoption of sustainable vehicles, and superior efficiency without range anxiety or charging or battery discharge. By region, Europe and China are projected to lead the hybrid market during the forecast period. On the other hand, North America and Asia (excluding China) are witnessing significant demand for hybrid vehicles. "SUVs will account for the largest share of hybrids in 2030." SUVs have gained popularity in the past few years. Considering all the powertrains, SUVs hold over half of the total sales globally. Similarly, over half of the hybrid (HEV+PHEV) sales are in the SUV segment. This segment has rapidly gained popularity among consumers owing to its road presence, longer range in the case of hybrids, and advanced safety and comfort features. Co...
Read more