Automotive Transmission Market – Growth, Insights & Key Players

July 26 21:03 2022
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

The Automotive Transmission Market 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, and 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.

Opportunity: Increasing adoption of automatic transmissions and development of hybrid drives

The popularity of automatic cars is on the rise due to the wide adoption of AMT. Better fuel efficiency, worsening traffic conditions, and gradual dispelling of misconceptions about automatic cars have contributed to this trend. Automatic transmission delivers gentle and smooth gear changes, and reduced fuel consumption is delivering additional driving comfort. As drivers can concentrate more on the road and less on driving, the automatic transmission is a safer option than a manual transmission.

An increasing number of electric and hybrid vehicles is also expected to occupy a big share of the manual transmission market. Developments in hybrid automatic transmission technologies to achieve top performances may further erode market share. For instance, in 2019, ZF Friedrichshafen AG designed its new generation 8-speed automatic transmission for hybrid drives. This hybrid system enables mild, full, and plug-in hybrid drives to achieve top performances between 24 kW and 160 kW. ZF will begin manufacturing this 8-speed automatic transmission in Saarbrücken, Germany, by 2022, and launch it in China and the US thereafter.

Some of the key market players include Asin Corporation (Japan), ZF Friedrichshafen (Germany), Magna International (Canada), Hyundai Transys (South Korea), JATCO (Japan), Aichi Machine Industry Co. Ltd. (Japan), Allison transmissions (US), Vitesco Technologies (Germany), Schaeffler AG (Germany), BorgWarner (US), and GKN Automotive (UK).

Download PDF Brochurehttps://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1063

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

With the 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 the 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.

The Asia Pacific automotive Transmission market is projected to hold the largest share by 2027.

Asia Pacific, Europe, and North America are expected to be the key growth markets due to the increasing vehicle production and changing consumer and adoption trends. The Asia Pacific is estimated to be the largest and fastest-growing automotive transmission market during the forecast period. With the growth in the global automotive market, the market for transmissions is also projected to grow. The rising demand for vehicles means an increase in emissions from the transportation sector. Thus, the stakeholders in the automotive industry are focusing on optimizing the performance of the vehicles to lower emissions to ensure sustainable transportation. The major focus is on maximizing fuel efficiency and minimizing emissions.

Tier I suppliers, such as Aisin Corporation (Japan), JATCO (Japan), ZF Friedrichshafen (Germany), and Magna International Inc. (Canada), have developed transmission solutions for automotive applications depending on the geographical variances.

Request FREE Sample Reporthttps://www.marketsandmarkets.com/requestsampleNew.asp?id=1063 

Recent Developments:

1. In September 2021, ZF developed a Modular eDrive Kit that was displayed at its international debut at IAA 2021, according to ZF. It combines ZF’s e-mobility team’s whole knowledge into systems solutions, components, and software control in a versatile platform. It improves power density, weight, and efficiency by a large amount. Mechanical losses can be reduced by up to 70% using optimized transmissions, as well as highly efficient cooling and lubrication methods. To do so, ZF depends on its extensive experience in the field of transmissions.

2. In March 2021, Within the PHEV Magna’s dedicated hybrid transmission with a 120-kW e-motor is installed at its functional core. The system performs in dynamic driving situations, as well as launch and reverses driving, all in electric mode.

3. In February 2021, Eaton announced its Vehicle Group developed gearing solutions for electrified vehicles (EVs). Leveraging its expertise in producing transmissions and contract manufactured gear-sets for passenger and commercial vehicles

4. In October 2020, Vitesco launched the world’s first transmission control system with comprehensive over-moulding technology. In comparison with conventional control units, the new product, known as over-moulding control electronics, excels with around 45% less weight, greater robustness and significantly fewer production stages.

Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/automotive-transmission-systems-market-1063.html