Automotive Transmission Market Size, Share, Trends & Global Forecast by 2027

Automotive Transmission Market

The global automotive transmission market worldwide size was valued at $59.9 billion in 2022 and is estimated to achieve a market size of $80.0 billion by 2027, at a CAGR of 6.2 % during the forecast period 2022-2027. The stringent regulations formulated to reduce C02 emissions are likely to change the automotive sector in the US, China, and Japan over the next decade. While automotive OEMs are focused on the electrification of vehicles, consumers are becoming more aware of the impact of vehicular emissions on the environment. Moreover, governments are also taking effective measures such as tax subsidies to promote the adoption of electric vehicles.

The Automatic transmission segment is expected to grow at a high CAGR and expected to become the largest segment of automotive transmission market during the forecast period

The overall manual transmission market is declining as it is moving toward automated transmission technologies. The demand for fuel-efficient transmission systems and the elimination of driver’s behavioural impact on the vehicle is creating the demand for automated manual transmissions (AMTs) and automatic transmissions (ATs). An increase in a shift from mechanical to automated driving systems offers a major opportunity for market expansion of advanced transmission technologies.

An automatic transmission system makes use of fluid coupling between the engine and clutch. It also and the same gearbox as that of a manual transmission system. The gear shifting operation is usually performed by using hydraulic or vacuum cylinders. This system is generally also called hydramatic transmission. It contains an epicyclic gear arrangement, a fluid coupling, and a torque converter. In these planetary gears, sets are placed in a series for transmission.

Epicyclic Gearing: It is a gear system consisting of one or more outer gears, or planet gears, revolving around a central gear. Different torque-speed ratios can be obtained by using epicyclic gear. It also compacts the size of a gearbox.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1063

Passenger car segment, by vehicle type, is estimated to be the largest segment during the forecast period.

With increase in demand for comfort and ease to drive vehicles, OEMs are launching new and updated models with loaded features and advanced transmissions. The passenger cars segment is estimated to account for a share of 75% of the global automotive transmission market by volume in 2022. Passenger cars comprise sedans, hatchbacks, station wagons, SUVs, MUVs, and vans. The growing role of transmission in passenger cars, coupled with growing influence of fuel-efficient systems, has been propelling the growth of the automotive transmission market in the passenger car segment. The technologies used in passenger vehicles are frequently changing due to the high demand from consumers for luxury and convenience features. Also, government regulations for emissions and safety for passenger vehicles are frequently changing. The manufacturers must reduce the weight of passenger vehicles and offer comfort and safety at a lower price. Due to the increasing demand for autonomous and electric vehicles, the demand for new transmissions is increasing in passenger vehicles.

Asia Pacific is estimated to be the fastest-growing market for automotive transmission in 2022

The Chinese market is the largest in the Asia-Pacific and is witnessing significant growth in the demand for and sales of premium vehicles. China is one of the major markets for premium vehicles, given the rising disposable income in the country. Nearly all major OEMs have invested in the Chinese market, which is inclined towards small and affordable passenger vehicles. A surge in demand for sophisticated automated transmission is expected, as the current market penetration of vehicles with automated transmission systems is low compared to that in developed countries. The growing automotive production levels in China have raised the demand for automotive transmission systems. This region is also expected to welcome the energy saving green cars to their economy.

Key Market Players:

The key players in the automotive transmission market include ZF Friedrichshafen (Germany), MAGNA International (Canada), Aisin Corporation (Japan), Eaton Corporation(Japan), Hyundai Transys(South Korea), Allison transmissions(US), Vitesco Technologies(Germany), Schaeffler AG(Germany), BorgWarner(US), GKN Automotive(UK), and Jatco (Japan) and more

Request Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=1063