The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

 

The automotive transmission market has seen significant growth in recent years, driven by various factors such as increased automobile production and rising consumer preferences. This blog explores the market size, growth trends, and key factors contributing to the expansion of the automotive transmission market.

Current Market Size and Growth

• Market Size in 2023: $123.35 billion
• Projected Market Size in 2024: $131.61 billion
• CAGR (2023-2024): 6.7%

 

Key Growth Drivers in the Historic Period

• Global Automobile Production: Increased production of automobiles worldwide has significantly boosted the demand for automotive transmissions.
• Consumer Preferences: Rising consumer preference for automatic transmissions over manual transmissions.
• Government Regulations: Stricter fuel efficiency and emission standards imposed by governments.
• Rising Disposable Incomes: Higher disposable incomes and improved living standards have increased vehicle ownership.
• R&D Investments: Significant investments in research and development for transmission innovations.

 

Future Market Projections

• Market Size in 2028: $171.46 billion
• CAGR (2024-2028): 6.8%

 

Read The Full Automotive Transmission Market Report Here:
https://www.thebusinessresearchcompany.com/report/automotive-transmission-global-market-report

 

Key Growth Drivers in the Forecast Period

• Innovation in EV Transmissions: Continued advancements in electric vehicle (EV) transmission technologies.
• Demand for Fuel Efficiency: Growing need for fuel-efficient and low-emission vehicles.
• Emerging Markets: Expansion of automotive industries in emerging markets.
• ADAS Adoption: Increased adoption of advanced driver-assistance systems (ADAS).
• Government Incentives: Incentives for developing green technologies.

Major Trends in the Forecast Period

• Shift to Hybrid and EV Transmissions: A growing focus on hybrid and fully electric vehicle transmissions.
• Lightweight and Compact Systems: Development of lightweight and compact transmission systems.
• Smart and Connected Technologies: Integration of smart and connected transmission technologies.
• Enhanced Durability and Performance: Greater emphasis on transmission durability and performance.
• Technological Advancements: Continuous technological improvements in transmission systems.

 

Rising Demand for Electric and Hybrid Vehicles

Key Factors Driving Demand

• Environmental Awareness: Increasing awareness about environmental issues.
• Government Incentives: Financial incentives and subsidies for electric and hybrid vehicles.
• Battery Technology Advancements: Improvements in battery technology enhancing vehicle performance and range.

Impact on Transmission Market

• Power Distribution: Transmission systems in electric and hybrid vehicles manage power distribution between electric motors, batteries, and internal combustion engines.
• Market Growth: The surge in electric and hybrid vehicle sales is driving the growth of the automotive transmission market.

Example

• Global Electric Car Sales: In April 2023, global electric car sales increased by 3.5 million units compared to 2022, representing a 35% year-on-year rise.

 

Major Companies in the Automotive Transmission Market

• Volkswagen
• Toyota Motor Corporation
• Ford Motor Company
• General Motors Co.
• Honda Motor Co. Ltd.
• Nissan Motor Co. Ltd.
• Caterpillar Inc.
• ZF Friedrichshafen AG
• Magna International Inc.
• Aisin Corporation

 

Advanced Automotive Transmission Systems

Technological Features

• Crawl Mode: Enhances driving comfort by providing smoother low-speed maneuvering.
• Hill-Start Assistance: Provides safer and easier starts on inclines.

Example

• ZF Group’s Transwin: Launched in October 2023, this automatic transmission for medium and heavy-duty trucks in China includes features like crawl mode and hill-start assistance.

 

Strategic Acquisitions

Example

• MiddleGround Capital Acquired Xtrac: In August 2023, this acquisition aimed to boost Xtrac’s role in the EV transmission market for motorsport and high-performance applications.

 

Market Segmentation

• By Transmission Type: Manual Transmission, Intelligent Manual Transmission (IMT), Automated Manual Transmission (AMT), Automatic Transmission (AT), Dual-clutch Transmission, Other Transmission Types.
• By Engine: Internal Combustion (IC) Engine, Electric Engine.
• By Fuel Type: Gasoline, Diesel, Other Fuel Types.
• By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle, Electric Vehicle.

 

Regional Insights

• Largest Market in 2023: Europe
• Fastest-Growing Region in the Forecast Period: Asia-Pacific

The automotive transmission market is poised for robust growth, driven by advancements in technology, increasing demand for fuel-efficient vehicles, and rising adoption of electric and hybrid vehicles. Major companies and strategic acquisitions will continue to shape the future of this dynamic industry.

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The Automotive Transmission Global Market Report 2024  provides an overview of the automotive transmission market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The automotive transmission market forecast analyzes automotive transmission market size, automotive transmission market share, leading competitor and their market positions.

 

The Table Of Content For The Automotive Transmission Market Include:
1. Automotive Transmission Market Executive Summary
2. Automotive Transmission Market Segments
3. Automotive Transmission Market Size And Automotive Transmission Market Growth Rate
4. Key Automotive Transmission Market Trends
5. Major Automotive Transmission Market Drivers
……
25. Key Mergers And Acquisitions In The Automotive Transmission Market
26. Top Automotive Transmission Companies
27. Automotive Transmission Market Opportunities And Strategies
28. Automotive Transmission Market, Conclusions And Recommendations
29. Appendix

 

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