Automobile Gear Market size is estimated to be USD 202 Billion in 2024 and is expected to reach USD 265 Billion by 2033 at a CAGR of 4.2% from 2026 to 2033.
The South Korea automobile gear market is poised for significant growth, driven by the rapid evolution of the automotive industry and the increasing demand for high-quality, durable components. As South Korea is home to some of the world’s largest automobile manufacturers, including Hyundai and Kia, the demand for automobile gears has seen a steady rise. The country's strong automotive sector, coupled with advancements in electric vehicles (EVs) and hybrid cars, has spurred an increased need for specialized gears. In 2024, the South Korean automotive gear market was valued at approximately $2.5 billion and is projected to grow at a CAGR of 6.4% over the next five years.
One of the primary drivers of this growth is the automotive industry's shift toward more efficient and sustainable manufacturing. As vehicles become more energy-efficient, automobile manufacturers require gears that can handle higher torque and operate at lower speeds while maintaining high durability and reducing noise. This trend is further accelerated by the increased production of electric vehicles (EVs), which demand different types of gears than traditional internal combustion engine (ICE) vehicles. EVs need specialized gears for reduced power loss and quieter operation, boosting the demand for high-performance automobile gears.
The market for automobile gears in South Korea is influenced by various industries, including the traditional automotive sector, electric vehicle manufacturers, and suppliers of automotive components. Each sector has its unique requirements, leading to a wide range of gears needed for different applications. Traditional vehicles demand gears that offer high power transfer efficiency, while the electric vehicle sector requires precision-engineered gears that ensure minimal power loss and increased overall efficiency. Suppliers are now focusing on creating innovative solutions to meet the diverse needs of these industries.
South Korea’s automobile gear market is also seeing a rise in demand for advanced transmission systems, as manufacturers seek to improve fuel efficiency and reduce emissions. The transition from manual to automated transmission systems in modern vehicles is further fueling this demand, as automated gear systems require complex and highly durable components. Manufacturers are thus investing heavily in R&D to develop more reliable, efficient, and cost-effective automobile gear technologies, positioning South Korea as a leading hub for cutting-edge gear technologies in the automotive industry.
With its robust industrial base and technological expertise, South Korea’s automobile gear market continues to evolve, catering to the diverse needs of the automotive industry. As the global demand for high-performance and environmentally friendly vehicles increases, the country’s gear manufacturers are set to play a pivotal role in shaping the future of the automobile industry.
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AAM
AmTech International
B & R Machine and Gear
Bharat Gears
Cone Drive
Dynamatic Technologies
Franz Morat
GKN
Gleason Plastic Gears
IMS Gear
Bosch
RSB
Showa
Taiwan United Gear
Universal Auto Gears
ZF TRW
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Automobile Gear Market
Manual Transmission Gears
Automatic Transmission Gears
CVT (Continuously Variable Transmission) Gears
Dual-Clutch Transmission Gears
Electrified Gears
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
Electric Vehicles
Hybrid Vehicles
Steel Gears
Aluminum Gears
Plastic Gears
Composite Material Gears
Carbon Fiber Reinforced Gears
OEM (Original Equipment Manufacturers)
Aftermarket
Electronic Transmission Control
Mechanical Transmission Control
Hydraulic Transmission Control
Hybrid Transmission Control
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Automobile Gear Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Automobile Gear Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Automobile Gear Market, By Type
6. South Korea Automobile Gear Market, By Application
7. South Korea Automobile Gear Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Automobile Gear Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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