The global automotive transmission market size is estimated to arrive at USD 211.85 billion by 2028. It is projected to develop by 5.2% CAGR in the period of forecast.
Growing concerns about global warming as well as greenhouse gasses, have initiated a variety of strict rules by the government regarding the vehicular release. These types of authoritarian strategy have pushed suppliers of the automotive components to produce highly effective as well as ecological transmission arrangement for global as well as national markets. Therefore, rising international standards for the discharge are one of the important factors, directing the expansion of the market.
In 2020, Asia Pacific held the major, above 31.0% revenue share of the automotive transmission market. It is, furthermore expected to record the highest CAGR during the forecast period. The nations like Japan, India and China are fulfilling the regional demand for the automotive transmission, in Asia Pacific. Additionally, the “Make in India” movement is anticipated to attract funds in the automobile segment, consequently steering the expansion of the market, in India.
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Further key findings from the report suggest:
• In 2020, Asia Pacific retained the principal share of the market for automotive transmission. Greater quantity manufacture of the automobiles in Japan, India and China can be credited to this major share
• By type of fuel, gasoline appeared like the major fuel category, in 2020. It is rising by the highest CAGR and is expected to carry on its domination, for the duration of the forecast
• The automatic type sector is rising by the highest CAGR, during the forecast period. It is anticipated to form the maximum revenue share, by 2028
• As a result of greater demand for the passenger cars, because of the progressing financial conditions in a number of developing plus developed nations, the passenger cars vehicle section dominated the automotive transmission market, in 2020
• The expansion of the market can be accredited to the enhancement in automatic transmissions and progressions in the automobile manufacturing
Million Insights segmented the global automotive transmission market based on Vehicle Type, Fuel Type, Transmission Type, and Region.
Automotive Transmission Type Outlook (Revenue, USD Billion, 2016 - 2028)
Automotive Transmission Fuel Type Outlook (Revenue, USD Billion, 2016 - 2028)
Automotive Transmission Vehicle Type Outlook (Revenue, USD Billion, 2016 - 2028)
• Passenger Cars
Automotive Transmission Regional Outlook (Revenue, USD Billion, 2016 - 2028)
• North America
• Asia Pacific
• South Korea
• Rest of the World
Various companies for automotive transmission market are:
• Magna International, Inc.
• GKN PLC
• Eaton Corporation PLC
• BorgWarner Inc.
• Aisin Seiki Co., Ltd.
• ZF Friedrichshafen AG
• Jatco Ltd.
• Continental AG
• Allison Transmission, Inc.