The global automotive transmission market size is expected to reach USD 223.47 billion by 2028 according to a study published by Polaris Market Research. The report “Automotive Transmission Market Size, Share & Trend Analysis Report By Transmission Type; By Fuel Type; By Vehicle Type (Passenger Cars, HCVs, LCVs); By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into the current market dynamics and provides analysis on future market growth.
The diesel fuel type dominated the global industry in 2020. Asia Pacific region accounted for the majority share in the global industry. The paramount interest generated in traveler and business vehicles and development in the worldwide car industry helps fuel technology. The interest in extravagance and comfort in vehicles has expanded fundamentally, particularly from the developing economies.
Buyers incline toward the agreeable and upgraded driving background, which lifts the car fuel flow showcase. The presentation of stringent government guidelines with respect to carbon emanations has urged players to pronounce effective system frameworks. New developing avenues, rising buyer socioeconomics, and stringent government guidelines is expected to drive the demand for efficient and improved systems.
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In 2020, Asia Pacific represented as the fastest-growing region in the global industry. The administrations in the region have presented stringent guidelines with respect to vehicular emanations as inferred from ecological concerns. The developing interest for cars in the area, the thriving car industry, and innovative progressions would quicken the interest in several car systems amid the forecast period.
To increase their product offerings in the industry, most corporations focus on supplying technologically driven and innovative items. To increase their share, the corporations are pursuing strategic activities such as collaborations, regional expansions, mergers, acquisitions, and partnerships.
Polaris Market Research has segmented the automotive transmission market report on the basis of type, vehicle type, fuel type, and region:
Automotive Transmission, Type Outlook (Revenue – USD Billion, 2016 – 2028)
Automotive Transmission, Vehicle Type Outlook (Revenue – USD Billion, 2016 – 2028)
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Automotive Transmission, Fuel Type Outlook (Revenue – USD Billion, 2016 – 2028)
Automotive Transmission, Regional Outlook (Revenue – USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa