The global automotive transmission market was valued at USD 150.4 billion in 2017 and is anticipated to grow at a CAGR of 8.1% during the forecast period.
Automotive transmission system is a combination of various devices, which enable the transmission of power from the engine to the live axle of an automobile through the drive shaft. Automotive transmission system integrates the functionality of various transmission components such as gears, shafts and other parts to enable the movement of an automobile. Components such as gears, brakes, clutch, fluid drive and other parts operate together for converting the speed ratio between the engine and wheels of a vehicle. The different types of automotive transmissions include manual transmission, automatic transmission, continuously variable transmission, and semi-automatic and dual-clutch transmissions.
The growing automotive industry, and increasing number of passenger and commercial vehicles drive the growth of automotive transmission market. The introduction of government regulations regarding carbon emissions increases the demand for automotive transmission systems across the globe. Similarly, the rising popularity of luxury vehicles, and increasing preference towards enhanced driving experience has accelerated the adoption of automotive transmissions. Also, the growing demand for light weight transmission systems further boosts the growth of the automotive transmission market. The increasing demand of automobiles from emerging economies, and technological advancements also increase the automotive transmission market.
The global automotive transmission market is segmented on the basis of type, vehicle type, fuel type, and geography.
Based on the type, the market is segmented into manual transmission, automatic transmission, automated manual transmission, dual clutch transmission, and continuously variable transmission. The automatic transmission segment is expected to grow at the fastest rate during the forecast period owing to rising environmental concerns, and stringent government regulations regarding vehicular emissions. The rising pollution levels across the globe would support the growth of this segment.
The vehicle types include passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger cars segment dominated the global automotive transmission market in 2017. The rising demand for luxury vehicles, and growing demand of passenger vehicles from emerging economies boosts the growth of this segment. The increasing need for fuel efficiency, and growing preferences of consumers towards comfortable and enhanced driving experience would increase the demand of automotive transmission from this segment.
The fuel type segment is divided into gasoline, diesel, and others. The diesel segment accounted for the highest market share in 2017.
This geographic distribution of the automotive transmission market is across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific. Asia-Pacific accounted for the highest share in the global automotive transmission market owing to growing demand of passenger cars in the region, and technological advancements. The governments in the region have introduced stringent regulations regarding vehicular emissions, thereby supporting the growth of the market in the region.
The vendors in the market are launching new products to meet the growing customer needs. In addition, the leaders in the market are acquiring and collaborating with top companies in the market to enhance their offerings in the market and expand their customer base. The automotive transmission market is highly competitive with the presence of a large number of small and large vendors.
The leading players in the market include Magna International, Allison Transmission Inc., Eaton Corporation PLC, Continental AG, Schaeffler AG, Jatco Ltd, ZF Friedrichshafen AG, Aisin Seiki Co., Ltd., BorgWarner Inc., and GKN PLC among others.