The global automotive transmission market size is expected to
reach USD 259.1 million by 2024 according to a new report by Grand View
Research, Inc. Increasing emission standards worldwide is one of the key
reasons driving the growth of automotive transmission market. Gasoline engines
emit toxic gasses and particles that are hazardous to the environment. Rising
pollution and global warming effect has led to the implementation of various
government regulation relating to vehicular emissions. Such guidelines have
enforced the component suppliers to produce high-efficiency
environment-friendly transmission systems for domestic and international
markets.
Further, growing adoption for Automatic Manual
Transmission (AMT) in the automotive industry is expected to fuel the demand
over the forecast period. AMT is more efficient than other transmission systems
and is easy to manufacture at low cost. Increasing adoption of AMT across
compact cars segment is anticipated to grow further over the next few years.
Growing prominence for electrified transmissions
among automotive manufacturers is expected to witness increasing penetration
across regions including Europe and North America. Rising focus on hybrid
vehicles and their positive impact on fuel economy and emissions in these
regions will contribute to the adoption of the transmission systems.
Browse full research report on Automotive
Transmission Market: https://www.grandviewresearch.com/industry-analysis/automotive-transmission-market
Further key
findings from the report suggest:
- Automatic segment is anticipated to grow at CAGR of over 8.0% from
2016 to 2024. Advancements in the automotive industry and improvement in
transmissions are leading to a shift towards automatic transmission
segment. Automatic transmissions are easier to operate, efficient and
accurate. Improvements in the function and fuel economy of automatic
transmissions is essentially hampering the growth of manual transmission
in the U.S.
- Diesel fuel type segment is expected to witness substantial growth
at a CAGR of over 7.6% from 2016 to 2024. Growing demand for diesel
engines is due to the high compression ratio, which allows better
efficiency compared to gasoline engines. Moreover, these engines are
prominently used in the SUVs segment cars across the world.
- Passenger cars segmented dominated the industry in 2015, which is
expected to grow at a CAGR of nearly 8.0% over the forecast period. Rising
demand for luxury vehicles with advanced features such as improved fuel
economy and high efficiency owing to the rising disposable income of the
countries such as India is anticipated to drive the demand. Off-road
vehicle such as ATVs, Hummer vehicles, Monster trucks, Jeep vehicles and
four-wheel drive systems are gaining popularity and is expected to drive
the market over the next eight years.
- Stringent guidelines across the globe are anticipated to regulate
the automotive transmission market over the future. Asia Pacific dominated
the industry in 2015 and is expected to remain the same by 2024.
Increasing automotive sales especially in countries such as Japan, India,
China and South Korea is projected to favorably impact the market over the
forecast period.
- Key industry participants include Aisin Seiki Co., Ltd., Allison
Transmission Inc., BorgWarner Inc., Continental AG, Eaton Corporation PLC,
Getrag, GKN PLC, Magna International Inc., Jatco Ltd., and ZF
Friedrichshafen AG. Automotive manufacturers in the industry are investing
immensely in its R&D operations to match the changing technological
demands across the industry.
Browse request sample of this report by
Grand View Research: https://www.grandviewresearch.com/industry-analysis/automotive-transmission-market/request/rs1
Grand
View Research has segmented the global automotive transmission market on the
basis of transmission type, fuel type, vehicle type and region:
Automotive
Transmission Type Outlook (Revenue, USD Million, 2014 - 2024)
- Manual
- Automatic
Automotive
Transmission Fuel Type Outlook (Revenue, USD Million, 2014 - 2024)
- Gasoline
- Diesel
- Others
Automotive
Transmission Vehicle Type Outlook (Revenue, USD Million, 2014 - 2024)
- Passenger cars
- LCVs
- ICVs
- HCVs
- Off-road
- Construction
- Defense
- Farm Tractors
Automotive
Transmission Regional Outlook (USD Million, 2014 - 2024)
- North America
- Europe
- Asia Pacific
- RoW
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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