The global automotive
transmission market size is expected to reach USD 259.1 million by 2024
according to a new report by Grand View Research, Inc. Increasing emission
standards worldwide is one of the key reasons driving the growth of automotive
transmission market. Gasoline engines emit toxic gasses and particles that are
hazardous to the environment. Rising pollution and global warming effect has
led to the implementation of various government regulation relating to
vehicular emissions. Such guidelines have enforced the component suppliers to
produce high-efficiency environment-friendly transmission systems for domestic
and international markets.
Further, growing adoption for
Automatic Manual Transmission (AMT) in the automotive industry is expected to fuel
the demand over the forecast period. AMT is more efficient than other
transmission systems and is easy to manufacture at low cost. Increasing
adoption of AMT across compact cars segment is anticipated to grow further over
the next few years.
Growing prominence for
electrified transmissions among automotive manufacturers is expected to witness
increasing penetration across regions including Europe and North America.
Rising focus on hybrid vehicles and their positive impact on fuel economy and
emissions in these regions will contribute to the adoption of the transmission
systems.
In depth research report on Automotive Transmission Market
Further key findings from the report suggest:
·
Automatic segment is
anticipated to grow at CAGR of over 8.0% from 2016 to 2024. Advancements in the
automotive industry and improvement in transmissions are leading to a shift
towards automatic transmission segment. Automatic transmissions are easier to
operate, efficient and accurate. Improvements in the function and fuel economy
of automatic transmissions is essentially hampering the growth of manual
transmission in the U.S.
·
Diesel fuel type segment is
expected to witness substantial growth at a CAGR of over 7.6% from 2016 to
2024. Growing demand for diesel engines is due to the high compression ratio,
which allows better efficiency compared to gasoline engines. Moreover, these
engines are prominently used in the SUVs segment cars across the world.
·
Passenger cars segmented
dominated the industry in 2015, which is expected to grow at a CAGR of nearly
8.0% over the forecast period. Rising demand for luxury vehicles with advanced
features such as improved fuel economy and high efficiency owing to the rising
disposable income of the countries such as India is anticipated to drive the
demand. Off-road vehicle such as ATVs, Hummer vehicles, Monster trucks, Jeep
vehicles and four-wheel drive systems are gaining popularity and is expected to
drive the market over the next eight years.
·
Stringent guidelines across the
globe are anticipated to regulate the automotive transmission market over the
future. Asia Pacific dominated the industry in 2015 and is expected to remain
the same by 2024. Increasing automotive sales especially in countries such as
Japan, India, China and South Korea is projected to favorably impact the market
over the forecast period.
·
Key industry participants
include Aisin Seiki Co., Ltd., Allison Transmission Inc., BorgWarner Inc.,
Continental AG, Eaton Corporation PLC, Getrag, GKN PLC, Magna International
Inc., Jatco Ltd., and ZF Friedrichshafen AG. Automotive manufacturers in the
industry are investing immensely in its R&D operations to match the
changing technological demands across the industry.
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
Million, 2014 - 2024)
·
Manual
·
Automatic
Automotive Transmission Fuel Type Outlook (Revenue, USD
Million, 2014 - 2024)
·
Gasoline
·
Diesel
·
Others
Automotive Transmission Vehicle Type Outlook (Revenue, USD
Million, 2014 - 2024)
·
Passenger cars
·
LCVs
·
ICVs
·
HCVs
·
Off-road
·
Construction
·
Defense
·
Farm Tractors
Automotive Transmission Regional Outlook (USD Million,
2014 - 2024)
·
North America
·
Europe
·
Asia Pacific
·
RoW
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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