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The global automotive transmission market is set to witness substantial growth during the forecast period due to various factors such as stringency in the emission norms by the government across the globe which in turn is expected to increase the demand for better fuel efficient vehicles. The increasing problem of traffic congestion has compelled the OEM’s to manufacture advanced transmission system with smooth gear shifting with enhanced driving experience. Whereas, the growth in the number of production of passenger cars and light weight commercial vehicles has boosted the Asia-Pacific region.
Global Automotive transmission market is expected to grow with approximately 6% CAGR from 2016 to 2022.
The report has been analyzed based on the type, vehicle type, fuel type and region. On the basis of type, the market is segmented as Automatic, Manual, AMT, CVT and DCT, in which Manual segment is leading the market but expected to decline over the years due to increasing demand for advanced transmission systems. On the basis of vehicle, the market is segmented as passenger car, LCV and HCV. Passenger and LCV are expected to lead the market by vehicle type. Based on fuel, the market is bifurcated as gasoline, diesel and others. Based on region, the market is bifurcated as Asia-pacific, North America, Europe and Row, in which Asia-Pacific is the leading market due to the rapid development of automotive industry in the countries such as china, japan etc.
Asia-Pacific accounts for the highest market share
Asia-Pacific region is expected to dominate the market due to increase in number of vehicle manufacturing facilities in developing nations which resulted in the high production of passenger cars and LCV’s. In China, due to increasing pollution the demand for vehicles with low emission has boosted the market which in turn is expected to drive the global automotive transmission market.
The Asia-Pacific is followed by North America and Europe owing to high demand of luxury vehicles which will spur the automotive transmission market in the region during the forecast period.
The key players of Global Automotive Transmission market are Allison Transmission Inc. (U.S.), Aisin Seiki Co. Ltd. (Japan), Continental AG (Germany), BorgWarner Inc. (U.S.), Eaton Corporation PLC (Ireland), GKN PLC (U.K.), Jatco Ltd. (U.S.), Magna International Inc. (Canada), ZF Friedrichshafen AG (Germany) and Schaeffler AG (Germany).
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