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(Transportation-News.com, May 30, 2019 ) According to the market research report Automotive Transmission Market by Type (Automatic, Manual, AMT, DCT, CVT), Vehicle type (Passenger Car, LCV, HCV, & Electric Vehicle), Number of Forward Gears, Fuel, & Region (Asia-Pacific, North America, Europe, RoW) - Global Forecast to 2021. The report analyzes and forecasts the market size, in terms of volume (thousand units) and value (USD million), for the automotive transmission market.
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The automotive transmission market is estimated to be worth USD 147.41 Billion in 2016 and is projected to grow at a CAGR of 5.89% between 2016 to 2021.
The rise in pollution levels in major cities has prompted the need for environmental regulations across the globe. The continuously varying fuel prices and unstable demand pattern has ensured that OEMs develop systems which will help to improve fuel efficiency. These factors are projected to drive the demand for automotive transmission systems. Transmission systems like DCT, CVT and AMT are poised to benefit from these factors owing to their fuel-efficient performance. These transmission systems are being adopted to meet the growing demand for eco-friendly vehicles.
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Passenger Car: Leading vehicle type in the automotive transmission market
The automotive transmission market for the passenger car segment has the highest share in terms of value and volume as compared to other vehicle segments in 2016. The overall increased automobile production across the world has led to the increase in the automotive transmission market.
Browse and in-depth TOC on Automotive Transmission Market
84 - Tables
69 - Figures
167 – Pages
Asia-Pacific to be the largest market for automotive transmissions
Asia-Pacific is estimated to dominate the automotive transmission market and is projected to grow at the highest CAGR during the forecast period. The region has emerged as a hub for alternative fuel passenger cars in recent years, with China and Japan as the frontrunners. Governments in the region are also trying to promote the sales of alternative fuel vehicles through incentives and tax deductions.
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Automotive Transmission Market Key Players
The global transmission market is dominated by many international as well as local players such as Aisin Seiki Co. (Japan), ZF Friedrichshafen AG (Germany), Getrag Corporate Group (Germany), Jatco Ltd. (Japan), and Magna Powertrain (U.S.).
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