Automotive Transmission Market: Current Analysis and Forecast (2021-2027)
$3999 – $7577
Emphasis on Transmission Type (Manual and Automatic); Vehicle Type (Passenger Car, Light Commercial Vehicles, and Heavy Commercial Vehicles); Fuel Type (Gasoline and Diesel); Region and Country
Detailed Analysis of COVID-19 Impact on the Automotive Transmission Market
Global Automotive Transmission is anticipated to display a CAGR of around ~6% over the forecast period (2021-2027). The automotive transmission industry is expected to rise due to rapid technological advancements in automobiles occurring around the world, as well as an increase in consumer disposable income in developing economies. Another factor fueling the market’s expansion is consumers’ desire for more comfort and luxury. Consumer preference is shifting toward modern car transmission systems that offer a smooth driving experience due to increased traffic and vehicle congestion in urban areas. Furthermore, the automotive transmission market is fueled by a rise in vehicle production and sales around the world. In the APAC and North American areas, passenger automobile production and sales are increasing. Similarly, due to the expanding logistics industry and rising demand for public transit, the market for commercial vehicles has seen significant expansion in recent years. As a result, the expansion of the automobile sector has had a direct impact on the expansion of the automotive transmission industry.
Insights Presented in the Report
“Amongst Transmission Type, Manual segment dominated the market in 2020”
Based on transmission type, the market is segmented into Manual and Automatic. The Automatic segment is to see the fastest growth during the forecasted period. Advances in the automotive sector, as well as improvements in automatic gearboxes, can be credited for the development. Furthermore, automatic types are more powerful and accurate, as well as being easier to operate. The high cost of these items may prevent them from being adopted in nations like India and Mexico. Over the projected period, however, changing preferences and rising consumer purchasing power in these nations are expected to boost segment expansion. In 2020, the manual type segment had the highest revenue share. The price differential between vehicles with manual and automatic transmissions is to blame for this increase. Due to price sensitivity, consumers are more likely to choose manual transmissions. Furthermore, as compared to its automatic counterpart, the manual version delivers higher mileage because the gear shifting may be manually regulated to reduce fuel consumption
“Amongst vehicle type, Passenger Car segment dominated the market in 2020.”
Based on vehicle type, the market is segmented into Passenger Car, Light Commercial Vehicles, and Heavy Commercial Vehicles. The Passenger Car segment generated the highest revenue in 2020 and is expected to grow at the fastest CAGR during the forecasted period. The demand for passenger automobiles is influenced by volatile fuel prices and transit infrastructure. The improving economic outlook in the United States and many developing nations, such as China and India, is likely to boost global demand for passenger automobiles. Furthermore, advancements in transmission technology in the passenger car segment, from 4-speed automatic transmissions to 8-speed and 9-speed automatic transmissions, have resulted in improvements in overall comfort, driving experience, and fuel efficiency, boosting segment growth
“Amongst Fuel Type, Gasoline segment dominated the market in 2020”
Based on the fuel type, the market is segmented into Gasoline and Diesel. The Actuator segment generated the highest revenue in 2020 and is expected to grow at the fastest CAGR during the forecasted period. Almost all pollution criteria are met by gasoline cars. When compared to diesel engines, they are more efficient and emit less gas. Over the projected period, the segment is expected to rise due to rising gasoline demand in nations such as the United States, China, and India. According to the International Energy Agency (IEA), gasoline demand is expected to rise in the next years as a result of fast-growing markets in Asia, Central and South America, Africa, and the Middle East, which will account for almost 70% of world demand growth in 2021
“Asia Pacific represents the largest market.”
In 2020, Asia Pacific had the greatest revenue, and it is expected to maintain its dominance while increasing at the quickest CAGR during the projection period. The presence of several important vehicle manufacturers and ancillaries in the region is driving market expansion. Companies in the Asia Pacific have been driven to implement efficient transmission networks by stringent rules. Furthermore, rising vehicle sales, particularly in countries such as China, India, Japan, and South Korea, are expected to boost regional market growth throughout the projection period. Many OEMs are eager to establish manufacturing operations in this region, particularly in growing economies like China and India. During the projection period, North America is expected to be the second-largest market. The sector is predicted to increase because of the rising demand for automatic manual transmission (AMT) across the region. Furthermore, the industry’s expansion is likely to be bolstered by sophisticated manufacturing centers and a technologically advanced market. Some of the major players operating in the market include Eaton Corporation PLC, Aisin Seiki Co., Ltd., BorgWarner Inc., ZF Friedrichshafen AG, Allison Transmission, Inc., Continental AG, Magna International Inc., Jatco Ltd., Schaeffler AG, GKN PLC, etc.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional & country-level analysis of the industry
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|1.4.||Currency used in Report|
|2.1.||Research Process of the Automotive Transmission Market|
|2.2.||Research Methodology of the Automotive Transmission Market|
|2.5.||Main Objective of the Automotive Transmission Market Study|
|5||AUTOMOTIVE TRANSMISSION MARKET COVID-19 IMPACT|
|6||AUTOMOTIVE TRANSMISSION MARKET REVENUE, 2019-2027F|
|8.2.||Light Commercial Vehicles|
|8.3.||Heavy Commercial Vehicles|
|10.1.||NORTH AMERICA AUTOMOTIVE TRANSMISSION MARKET|
|10.1.3.||Rest of North America|
|10.2.||EUROPE AUTOMOTIVE TRANSMISSION MARKET|
|10.2.5.||Rest of Europe|
|10.3.||ASIA-PACIFIC AUTOMOTIVE TRANSMISSION MARKET|
|10.3.5.||Rest of Asia Pacific|
|10.4.||REST OF WORLD AUTOMOTIVE TRANSMISSION MARKET|
|12||AUTOMOTIVE TRANSMISSION MARKET OPPORTUNITIES|
|13||AUTOMOTIVE TRANSMISSION MARKET TRENDS|
|14||LEGAL & REGULATORY FRAMEWORK|
|15.1.||Demand Side Analysis|
|15.2.||Supply Side Analysis|
|16||VALUE CHAIN ANALYSIS|
|17.1.1.||Company Shares, By Revenue|
|18.1.||Eaton Corporation PLC|
|18.2.||Aisin Seiki Co., Ltd.|
|18.4.||ZF Friedrichshafen AG|
|18.5.||Allison Transmission, Inc.|
|18.7.||Magna International Inc.|
The global vehicle industry’s rapid expansion is expected to enhance the automotive transmission market significantly. The automotive transmission market is expected to benefit from increased mergers and acquisitions in the global automotive industry. Furthermore, growth in an individual’s disposable income and the buying power of customers around the world is driving car sales, which is expected to enhance the industry. One of a vehicle’s most crucial components is the transmission. It is responsible for transmitting power from the engine to the wheels. Car transmissions come in a variety of styles. Some are automated, whereas manual transmissions in stick-shift cars necessitate additional steps from the driver in order for the vehicle to function properly. In a car, where is the transmission located? Transmission is usually situated in the front of a vehicle’s chassis. Automobile component makers are working hard to deliver cost-effective alternatives without sacrificing vehicle performance. To address the rising demand for transmission systems across the automotive sector, they are implementing a variety of expansion methods. Aisin Seiki Co., Ltd., for example, is concentrating its development and manufacturing skills on Toyota Motor Corp.’s manual transmission products under the Aisin AI brand. Consolidating their expertise will help enterprises to fulfill global demand and boost their manual systems business’ competitiveness.
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
A detailed secondary study was conducted to obtain the historical market size of the Automotive Transmission through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Automotive Transmission, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are transmission type, vehicle type, and fuel type. Further regional & country-level analyses were conducted to evaluate the overall adoption of Automotive Transmission in the global context.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size. Further, we conducted factor analysis using dependent and independent variables such as growing government incentives and demand for eco-friendly transportation, etc. Historical trends and their year-on-year impact on the market size and share were analyzed. Demand and the supply-side scenario were also thoroughly studied.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the market, and market shares of the segments and company. All the required percentage split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the bottom-up approach were applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of Automotive Transmission across the major markets
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in Automotive Transmission in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the Automotive Transmission. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of application, vehicle type, component, and region.
The main objective of the Automotive Transmission Study
The current & future market trends of Automotive Transmission were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a regional & country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of Automotive Transmission in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study transmission type, vehicle type, and fuel type
- Defined analysis of the regulatory framework for the Global Automotive Transmission industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Automotive Transmission for the major regions & countries
- Major regions studied in the report include North America (US, Canada, Rest of North America), Europe (Germany, United Kingdom, France, Italy, and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific), and Rest of World
- Company profiles of the Automotive Transmission players and the growth strategies adopted by them to sustain in the fast-growing market
Deep dive regional & country-level analysis of the industry