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Automotive Transmission Market Size, 2028 | Industry Report

Automotive Transmission Market Analysis Report By Transmission Type, By Fuel Type, By Vehicle Type, By Region And Segment Forecasts From 2021 To 2028

Report ID: MN17617649  |  Published: August 2021  |  No of Pages: 80
Format: Electronic (PDF)  |  Industry: Automotive and Parts  |  Publisher: Grand View Research

Synopsis

The global automotive transmission market was prized by USD 152.32 billion in 2020. It is estimated to witness a 5.2% CAGR from 2021 to 2028.

Drivers

The development of transmission methods and technical progressions, according to the operational necessities, through a number of vehicle categories, together with the passenger cars and Heavy Commercial Vehicles (HCVs), are the factors estimated to steer the expansion of the market for automotive transmission, during the forecast period.

US automotive transmission market

The automobiles Original Equipment Manufacturers (OEMs) are taking on highly developed systems, for example, Automated Manual Transmission (AMT), including the reduced release of CO2 as well as fuel expenditure, with no concession on working.

Fast technical improvement in the manufacturing of automotive transmission is likely to increase the enlargement of the automotive transmission market. Besides, the rising acceptance of the technologies such as Dual Clutch Transmission (DCT) and Continuously Variable Transmission (CVT) above the automatic and manual systems, due to change in the requirement for fuel competent products having augmented performance, is expected to propel the market, during the forecast period. Several automobile manufacturing companies are initiating Intelligent Manual Transmission (IMT) which permits drivers to operate the gears with no need of pressing the clutch.

Effect of Covid-19

The eruption of the Covid-19 pandemic has harmfully affected automobile manufacturing, causing the lethargic enlargement of the market, because of the dropped trade of automobiles.

Fuel Type Insight

The gasoline division held the major, above 55.0% revenue share of the automotive transmission market, in 2020. Gasoline cars fulfill with approximately every release structure. In contrast to their diesel equivalents, gasoline is well-organized and release slighter gas. The increasing demand for gasoline through nations, like India, the U.S., and China, is expected to power the development of the division, during the forecast period.

The diesel section is projected to record a stable CAGR, during the forecast period. Due to their higher compression ratio that allocates enhanced engine competence, diesel engine-powered cars, contain a considerable demand. A diesel engine is having a simple design in contrast to a gas engine because it does not necessitate any sort of connected electrical arrangement as well as spark plugs.

This category of the engine is extensively accepted for operating in SUVs and cars because it presents better performance, parallel to that of a gas engine, except with dependability along with additional gas mileage.

Transmission Type Insight

The manual type section held the major, above 50.0% revenue share of the automotive transmission market, in 2020. This enlargement is credited to the dissimilarity in the prices of the vehicles having automatic and manual transmission variants. Due to the price compassion, the customers are tending to choose manual transmission. Additionally, the manual transmission category, furthermore, offers superior mileage in contrast to its automatic variant because the shifting of gear can be physically adjusted to figure out the utilization of fuel.

The automatic transmission type sector is expected to record the highest CAGR, during the forecast period. The enlargement can be credited to the progressions in automobile manufacturing and enhancement in automatic transmissions. The automatic category is accurate, efficient, additionally powerful, and easier to operate. The excessive price of these products might hinder their acceptance in the nations, for example, Mexico and India. On the other hand, the rising buying power of the customers and altering inclination within these nations are estimated to assist in the expansion of the sector, during the forecast period.

Vehicle Type Insight

The passenger cars subdivision held the biggest, more than 67.0% revenue share of the automotive transmission market, in 2020. Transport infrastructure and unpredictable prices of fuel affect the demand for passenger cars. On account of the advancing financial position in the U.S. in addition to several rising marketplaces, like India and China, demand for passenger cars, globally, is estimated to increase grip.

Global automotive transmission market

The HCVs subdivision is projected to record the highest, above 8.0% CAGR, during the forecast period. Growing actions of infrastructure building and manufacturing have driven the retailing of HCVs. Besides, the rising number of HCVs in Europe has initiated Original Equipment Manufacturers (OEMs) and the EU authoritarian organizations to improve and make better the security features of HCVs. Consequently, push their demand.

Regional Insight

In 2020, Asia Pacific held the major, above 31.0% revenue share of the market. It is expected to carry on its increasing domination by the highest CAGR, throughout the forecast period. The expansion of the market is impelled by the existence of numerous major automobile manufacturing companies as well as ancillaries, within the region.

Strict rules implemented through the Asia Pacific have pushed companies to take on competent transmission systems. Besides, rising sales of automobiles, particularly in the nations similar to South Korea, India, Japan, and China, are expected to hold an encouraging influence on the expansion of the provincial market, during the forecast period.

The markets in Europe and North America are projected to observe major enlargement by way of the rising infiltration of electrified transmissions because of the growing concentration on hybrid vehicles along with their favorable influence on emissions as well as fuel economy. In 2019, more than 91.0% of passenger cars, which were powered by Internal Combustion Engine (ICE), were sold in the U.S., whereas, remaining 9.0% of cars were Electric Vehicles (EVs)

Companies

The majority of the crucial companies concentrate on supplying technically powered as well as sophisticated products to augment their product contributions in the market. Moreover, the companies are taking on tactical plans, for example, partnerships, mergers & acquisitions, joint ventures, and local growth. Natural enlargement remains the main policy for the general business, by way of a major concentration on the product presentation.

Some of the companies for the automotive transmission market are:

    • Magna International, Inc.
    • GKN PLC
    • Eaton Corporation PLC
    • BorgWarner Inc.
    • Aisin Seiki Co., Ltd.
    • ZF Friedrichshafen AG
    • Jatco Ltd.
    • Getrag
    • Continental AG
    • Allison Transmission, Inc.

Report Scope

Report Attribute

Details

The market size value in 2021

USD 148.76 billion

The revenue forecast in 2028

USD 211.85 billion

Growth rate

CAGR of 5.2% from 2021 to 2028

The base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD billion and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Transmission type, fuel type, vehicle type, region

Regional scope

North America; Europe; Asia Pacific; Rest of the World

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; China; Japan; India; South Korea

Key companies profiled

Aisin Seiki Co., Ltd.; Allison Transmission, Inc.; BorgWarner Inc.; Continental AG; Eaton Corporation PLC; Getrag; GKN PLC; Jatco Ltd.; Magna International, Inc.; ZF Friedrichshafen AG

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail of customized purchase options to meet your exact research needs.


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Million Insights has segmented the global automotive transmission market report on the basis of transmission type, fuel type, vehicle type, and region:

• Transmission Type Outlook (Revenue, USD Billion, 2016 - 2028)
    • Manual
    • Automatic

• Fuel Type Outlook (Revenue, USD Billion, 2016 - 2028)
    • Gasoline
    • Diesel
    • Others

• Vehicle Type Outlook (Revenue, USD Billion, 2016 - 2028)
    • Passenger Cars
    • LCVs
    • HCVs

• Regional Outlook (Revenue, USD Billion, 2016 - 2028)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
        • France
        • Italy
    • The Asia Pacific
        • China
        • Japan
        • India
        • South Korea
    • Rest of the World

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