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What is the Expected Growth Rate of the Automotive Transmission Market Based on Industry Projections?

The market for automotive transmissions has experienced notable expansion in the past few years. The market, which has an estimated value of $131.61 billion in 2024, is projected to increase to $140.96 billion in 2025, with an impressive compound annual growth rate (CAGR) of 7.1%. Factors driving this surge during the historic period include increased global car production, a consumer shift towards automatic transmissions, government policies regarding fuel efficiency and emission standards, escalating disposable incomes and enhanced living standards, and an upswing in investment for research and development of advanced transmission technologies.

Expectations are high for substantial expansion in the automotive transmission market in the next few years. Its value is predicted to reach $182.96 billion in 2029 with a compound annual growth rate (CAGR) of 6.7%. This projected growth can be linked to ongoing innovation in electric vehicle (EV) transmissions, increased demand for vehicles that are both fuel-efficient and low-emission, booming automotive sectors in developing markets, a surge in the adoption of advanced driver-assistance systems (ADAS), and governmental incentives promoting green technology development. Key trends for the forecast period comprise a shift towards hybrid and fully electric vehicle transmissions, the creation of compact, lightweight transmission systems, the incorporation of intelligent, connected transmission technologies, amplified emphasis on strengthening transmission durability and performance, and innovative tech developments in transmission systems.

How Are Key Drivers in the Industry Acting as Catalysts for the Growth of the Automotive Transmission Market?

The burgeoning interest in electric and hybrid vehicles is anticipated to fuel the expansion of the automotive transmission market. Electric and hybrid automobiles employ electric propulsion systems, either solely or in conjunction with traditional internal combustion engines, to curb emissions and enhance fuel efficiency. Factors such as heightened environmental consciousness, government incentives, and improvements in battery tech contribute to the escalating demand for electric and hybrid vehicles. Automotive transmission systems serve a critical role in these vehicles, regulating power distribution between electric motors, batteries, and internal combustion engines to maximize efficiency and performance. For example, The International Energy Agency (IEA), an autonomous intergovernmental organization based in Europe, reported that global electric car sales witnessed a significant leap of 3.5 million units in 2023 compared to 2022, indicating an impressive 35% year-on-year rise. Hence, this growing popularity of electric and hybrid vehicles is instigating the development of the automotive transmission market.

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What Companies Are At the Forefront of Innovation in the Automotive Transmission Market?

Major companies operating in the automotive transmission market are:

• Volkswagen_x000D_

• Toyota Motor Corporation_x000D_

• Ford Motor Company_x000D_

• General Motors Co._x000D_

• Honda Motor Co. Ltd._x000D_

How Are Emerging Trends in Consumer Behavior Affecting the Automotive Transmission Market?

Significant players in the automotive transmission industry are prioritizing the advancement of technology in their products, incorporating features like crawl mode and hill-start assistance to maintain a competitive edge. Such features contribute to an improved driving experience and safety, facilitating smooth start-ups on inclines and competent low-speed maneuvering in challenging environments such as off-roads or busy cities. An example is the ZF Group, a German automaker component manufacturer, which in October 2023, launched Transwin, an automatic transmission designed for medium to heavy-duty trucks for the Chinese market. This line features a 9-speed and 6-speed model to cater to a variety of user needs and job conditions. Transwin addresses multiple transportation situations like long-distance and city deliveries, incorporating crawl mode and hill-start assistance for improved driving convenience. It was outfitted with ZF’s most recent software platform and the OptiDrive shift system to assure precision in gear shifts and exceptional performance for all driving situations.

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What Are the Strategic Segments Comprising the Automotive Transmission Market and Their Growth Contributions?

The automotive transmission market covered in this report is segmented –

1) By Transmission Type: Manual Transmission, Intelligent Manual Transmission (IMT), Automated Manual Transmission (AMT), Automatic Transmission (AT), Dual-Clutch Transmission, Other Transmission Types

2) By Engine: Internal Combustion (IC) Engine, Electric Engine

3) By Fuel Type: Gasoline, Diesel, Other Fuel Types

4) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle, Electric Vehicle

Subsegments:

1) By Manual Transmission: 5-Speed Manual Transmission, 6-Speed Manual Transmission, 7-Speed Manual Transmission, Other Manual Transmission Variants

2) By Intelligent Manual Transmission (IMT): Semi-Automatic IMT, Fully Automated IMT

3) By Automated Manual Transmission (AMT): Single Clutch AMT, Dual Clutch AMT

4) By Automatic Transmission (AT): Conventional Automatic Transmission, Continuously Variable Transmission (CVT), Torque Converter AT, Variable Torque Converter AT

5) By Dual-Clutch Transmission (DCT): 6-Speed DCT, 7-Speed DCT, 8-Speed DCT

6) By Other Transmission Types: Hybrid Transmission, Electric Vehicle (EV) Transmission, Continuously Variable Planetary (CVP) Transmission, Single-Speed Transmission

What Regions Are Propelling Growth in the Automotive Transmission Industry?

Europe was the largest region in the automotive transmission market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive transmission market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Key Parameters Define the Automotive Transmission Market’s Scope?

An automotive transmission, also known as a gearbox, is a critical component of a vehicle’s drivetrain. It is responsible for transferring the power generated by the engine to the wheels, enabling the vehicle to move. The transmission adjusts the torque and speed from the engine to match the driving conditions and the driver’s inputs, ensuring optimal performance and efficiency. It regulates the power flow from the engine to the wheels, allowing the vehicle to operate efficiently at different speeds and loads.

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