The global automotive transmission market size was valued at USD 152.12 billion in 2020 and is expected to grow at a CAGR of 5.1% during the forecast period. The automotive transmission framework highlights different gadgets by which seamless gearshifts ensue. High torque is transmitted from the engine to the live axle of an automobile through the drive shaft.
The car transmission framework consists of two gear types, one automatic and the other manual. Manual needs human interference to shift gears, whereas automatic technology does not require manual efforts to change gears.
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There are incorporated different components, viz riggings, shafts, and different parts that empower the development of a car. Segments, for example, gears, brakes, grip, liquid drive, and various components work in tandem for changing over the speed ratio between the motor and wheels of a vehicle.
With advancements in the automotive industry and the development of ATs, the automotive sector is subtly moving towards AT technology. ATs employ lucid gears, which are efficient and precise in use. Upgradations in ATs coupled with fuel economy are driving the industry growth of this segment, casting a shadow over MT systems in the U.S.
In addition, automotive manufacturers are ceaselessly embracing research activities to improve vehicle offloading times and diminish transmission control reaction time while meeting carbon outflow standards. A progressive trend for the industry is seen so far as demand exists for commercial vehicles and passenger cars.
The automotive transmission market is segmented on the basis of transmission type, vehicle type, fuel type, and region.
By Transmission Type
By Vehicle Type
By Fuel Type
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Manual automotive transmission is one of the majorly used technologies used in vehicles and is considered to be the most significant growth pioneer. Minimal effort of vehicles with MT, entrenched market for MT vehicles, and absence of focus among customers regarding the enormous advantages of automatic transmission (AT) have worked for this section up until this point.
The industry is driven by various technology, including Dual Clutch Transmission (DCT), Automatic Manual transmission (AMT), Automatic Transmission (AT), and Continuous Variable Transmission (CVT). DCT and CVT possess higher industry appeal due to fuel efficiency. The DCT and CVT systems present a higher cost of installation to OEM’s than traditional alternatives.
The expanded interest for programmed transmission in section-level vehicles, particularly crosswise over growing economies, such as India, Brazil, and Mexico, inferable from the additional accommodation and solace offered from them, is working for the automotive industry.
The vehicle types include passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger cars segment dominated the vehicle type segment in 2020. Rising demand for luxury vehicles and highly favorable demand for passenger vehicles is expected to be the key factors driving the industry growth. A striving need for a smooth and seamless driving experience coupled with enhanced savings in fuel has stirred up the automotive transmission market.
There are two variants in automotive vehicles, petrol and diesel. Petrol vehicles are relatively smoother than diesel engines. Diesel engines accounted for the highest revenue share in 2020. Petrol engines emit toxic gases into the environment, which are lethal. Rising vehicular emissions and global warming have led to the production of high-efficiency and environment-friendly systems.
The diesel automotive segment is expected to observe high growth during the forecast period. Fast-growing diesel engines in automotive have the advantage of a high compression ratio that imparts better efficiency than gasoline engines. The primary point driving the industry involves incorporating traveler autos and lightweight business vehicles, rising interest for eco-friendly vehicles, and an expanded inclination for smooth driving awareness by consumers.
The growing automotive industry and an increasing number of passenger and commercial vehicles drive the industry growth. The introduction of government regulations regarding automotive carbon emissions increases the demand for effective automotive systems across the globe. The rising popularity of luxury vehicles and growing preference towards enhanced driving experience with high efficiency, improved fuel economy, and rising disposable incomes have accelerated the adoption of this system.
The growing demand for lightweight systems further boosts the growth of the market. The increasing demand for automobiles from emerging economies and technological advancements also drives the automotive transmission systems' demand. Rugged and four-wheel drive automobiles such as Hummer, Jeeps, and Monster trucks are gaining precedence in a growth-intensive market.
The rising focus on achieving substantial fuel economy drives significant developments in the market. Various variables are impacting immense changes in a manner that the market is prompting. Factors, for example, transforming inclinations of shoppers as far as vehicle selection, a requirement for improved mileage, and higher power necessities are pushing car organizations and framework makers to put more in innovative R&D work.
The Asia Pacific accounted for the highest market share in the automotive transmission market because of booming demand for passenger cars in the region and technological penetration. The governments have passed stringent regulations regarding automotive emission laws in the countries that give rise to market growth globally.
The expanding development and rising request from nations, such as China and India, further builds upon car transmissions in the area. Extension of worldwide players into these nations to tap the potential lifts the development. Asia Pacific commands the electric vehicle market because of the expanding populace of vehicles and the adoption of vehicular emanation gauges of the U.S and European Union by Asia Pacific nations.
Europe and North America are weaning towards increased comfort and energy efficacy in vehicles, so there is substantial market growth in these regions. The newer market trend in the automotive industry catching on like wildfire is n-speed automatic systems, where n is the number of forwarding gears.
Geologically, the popularity of traveler vehicles crosswise over developing economies; for example, India and China are sound examples of growth. The market in the Asia Pacific is probably going to rise most rewardingly. Likewise, the market in North America is expected to display a promising pace of expansion inferable from the favoritism for vehicles with sophisticated system frameworks, adding to market growth.
The vendors in the market are launching new products to satisfy automotive customer needs and thus remain in the competition. The leaders in the market are procuring and collaborating with top companies in the market to ramp up operations and expand their automotive customer base.
The key players profiled in the market include Magna International, Allison Transmission Inc., Eaton Corporation Plc., Continental AG, Schaeffler AG, Jatco Ltd., ZF Friedrichshafen AG, Aisin Seiki Ltd., Borg Warner, Inc., and GKN PLC, among others.