The global Automotive Transmission Systems Market is estimated to be valued at US$ 43.40 Bn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Automotive transmission systems help transfer engine torque to the wheels of the vehicle. The main types of transmission systems include manual transmission, automatic transmission, automated manual transmission, and continuously variable transmission. Automotive transmission systems Market provide smooth driving experience, optimum power delivery, and enhanced fuel efficiency.
Market key trends:
One of the key trends in the automotive transmission systems market is the growing demand and production of vehicles equipped with automated manual transmissions. Automated manual transmissions (AMT) help drivers perform gear changes without a conventional clutch pedal. AMTs offer the enhanced efficiency of manual transmissions along with the ease of use of automatic transmissions. They are becoming increasingly popular in entry and mid-level vehicles. Their rising adoption can be attributed to cost benefits over traditional automatic transmissions.
Segment Analysis
The global automotive transmission systems market is segmented based on transmission type, vehicle type, and geography. Based on transmission type, the automatic transmission segment is expected to dominate the market over the forecast period. Automatic transmission offers better drivability, improved fuel efficiency, and enhanced performance as compared to manual transmission, which has increased its demand for cars globally.
Key Takeaways
The global automotive transmission systems market is expected to witness high growth, exhibiting a CAGR of 6.3% over the forecast period 2023 to 2030, due to increasing demand for increased fuel efficiency and improved performance.
Regional Analysis
Asia Pacific region is expected to dominate the global automotive transmission systems market over the forecast period. The high growth in the region can be attributed to increasing vehicle production and sales in countries such as China and India. According to OICA, in 2021, Asia Pacific contributed around 53% of the global vehicle production.
Key Players
Key players operating in the automotive transmission systems market are ZF Friedrichshafen AG, Aisin Seiki Co., Ltd., BorgWarner Inc., and Eaton Corporation plc.
