Automotive Transmission System Market Summary -
The high shelf shifting potential offered by automobile transmission can prompt the expansion of the automobile Automatic Transmission Market 2022, reveals Market Research Future (MFRF). The high efficacy of process of the transmission of power from the engine across the wheels, automatically by the change in gear ratios can add a competitive advantage to the automotive automatic transmission system world market. With the assistance of automotive automatic transmission system, a vehicle can move from one point to another without the requirement for shifting of gears manually.
The slashing in manual labor and increase in convenience of operations can act as strong boosters for the rise of the automotive automatic transmission system market. An internal combustion engine is used to cause rotation of automatic automotive transmission system at high RPM can support the rise of the automatic transmission system worldwide market. The variation in speed range and different torque outputs are beneficial in case where vehicles move in heavy traffic condition. The rise in world population and increase in traffic congestion can support the growth of the automotive automatic transmission market. global automotive automatic transmission system market can expand at 6% CAGR by Forecast Period.
Top Impacting Factors
Automotive transmission framework highlights various gadgets, by which seamless gearshifts ensue. The high torque is transmitted from the engine to the live axle of an automobile through the drive shaft. Each component, such as shafts, gears, and other useful accessories, takes pride in delivering motion to the automobile. These components impart velocity to the car and are directly related to the speed ratio of the cars. All these features have stood up as essential factors motivating the market and its growth to a great extent.
The demand for automatic transmission vehicles has been growing for over the past three years, mainly in the developing countries of India and China, owing to heavy traffic and congestion and overcrowded streets. The expansion drivers for the automotive transmission market are attributed to the growing demand for the automatic transmission that offers fuel-efficient, lightweight, and comfortable driving experience in exploding traffic congestion situations in growing cities.
With this, the escalating spending capacity of the middle-class population in developing countries, stringent regulations for controlling fuel emission, rising demand of electric vehicles encouraging the electrification of transmission systems are transforming the industry growth at a high pace.
On the contrary, the factor of the higher cost of installing technically advanced systems and limited use of high-end technology is known to be restricting the sales of the market. This would result in risking the market’s growth to lessen up the forecast period.
Top Giant Market Players
Aisin Seiki Co. Ltd. (Japan), Allison Transmission Inc. (U.S.), BorgWarner Inc. (U.S.), Continental AG (Germany), GKN PLC (U.K.), Eaton Corporation PLC (Ireland), Magna International Inc. (Canada), Jatco Ltd. (U.S.), and Schaeffler AG (Germany) are some of the leading players operating in this market.
Segmentation of Market: Automotive Transmission
The global automotive transmission market has further been segmented along the following lines:
The segmented study of the global automatic transmission market offers insight on the growth prospects of the market. Type, fuel, and vehicle type are parameters on which the automotive automatic transmission system market study is based.
In the type segment, the automotive automatic transmission system market comprised of Automated Manual Transmission (AMT), Dual-Clutch transmission (DCT), and Continuously Variable Transmission (CVT).
In the vehicle type segment, the automotive automatic transmission system market has included passenger cars, HCV, and LCV.
In the fuel type segment, the automotive automatic transmission system comprised of gasoline, diesel, and hybrid.
Asia-Pacific leads the global automotive transmission market owing to factors such as growth in the production of passenger cars and LCV in the developing economies. Many OEMs are keen to open the production facilities in this region, especially in emerging nations such as China and India.
The North America region is probable to be the second-largest market during the foretell period. The rising demand for Automatic manual transmission (AMT) across the region is likely to boost industry growth. Also, the sophisticated manufacturing hubs and market in terms of technology is likely to strengthen the market growth further. The market in North America likewise is likely to display a promising pace of expansion inferable from the favoritism for vehicles with sophisticated transmission frame-works, adding to market growth.
Europe is weaning towards comfort and energy efficacy in vehicles, so there is substantial market growth in these regions. The new market trend catching on like wildfire is n-speed automatic systems where n is the number of forwarding gears.
In fact, the popularity of traveler vehicles crosswise over developing economies, mainly in India and China, are sound examples of the growth of the market. The market in the Asia Pacific is possibly going to rise most rewardingly.
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