“Automotive Transmission Market by Type (Automatic, Manual, AMT, DCT, CVT), Vehicle type (Passenger Car, LCV, HCV, & Electric Vehicle), Number of Forward Gears, Fuel, & Region (Asia-Pacific, North America, Europe, RoW) – Global Forecast to 2021″, The automotive transmission market is estimated to grow with a CAGR of 5.89 % from 2016 to 2021 to reach a market size of USD 196.20 billion by 2021.
Growing demand for lightweight materials for transmission systems and consumer preference for enhanced driving experience and smooth gear shifting has driven the demand for automotive transmissions.
Automatic Transmission Segment to Dominate the Market
The AT market, in terms of value, is estimated to grow at the highest CAGR from 2016 to 2021. An AT uses the same gearbox as an MT and makes use of fluid couplings between the engine and clutch. Gear shifting in an AT system is performed with the help of hydraulics or vacuum cylinders. It allows the driver to select a speed range from high, medium, or low. In order to select the perfect range, the brake pedal must be released and accelerator pedal must be pressed to proceed further. The gear shifting in AT happens automatically between the selected speed ranges during the course of driving. A planetary gearbox is used by this transmission system, which contains a sun gear, planet gear, planet carrier, and ring gears that spin centrifugally. Despite its higher cost, this type of transmission is widely used in the North American region and in Japan from the Asia- Pacific region owing to the comfort offered to the driver.
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Players’ profiled in the report are:
- Aisen Seiki Company Ltd. (Japan),
- ZF TRW (Germany),
- Borgwarner Inc. (U.S.),
- Continental AG (Germany),
- Magna International Inc. (Getrag) (U.S.),
- Eaton Plc. (Republic of Ireland),
- Jatco Ltd. (Nissan) (Japan),
- Allison Transmission Inc. (U.S.),
- GKN PLC. (U.K.),
- Schaeffler AG (Germany)
“Passenger car segment is the fastest growing market”
The passenger car segment is the fastest growing segment with the highest CAGR among all the segments considered under the vehicle type segmentation. Passenger cars also constitute the largest segment of the automotive transmission market. The high growth of the passenger car segment can be attributed to the increased demand in developing countries and rise in the income levels of the citizens in the developing nations. The increasing global population along with the increased standard of living is further expected to increase the demand for passenger cars. Hence, the automotive transmission market is expected to increase globally.
“Asia-Pacific dominates the automotive transmission market at the global level”
In the current scenario, the Asia-Pacific is the largest market globally for automotive transmissions followed by North America. The growing demand for lightweight materials and the preference of major auto industry players of Asia-Pacific region to seek partnerships with domestic players are the major factors contributing towards the positive development of the automotive transmission market in this region. India and China are emerging as the fastest growing economies. Thus, many OEMs are being lured to open their production facilities in this region. Thus, Asia-Pacific has become the largest market for automotive transmissions.
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