Automotive Transmission Market Overview
The global automotive transmission market is anticipated to grow significantly during the forecast period, owning to growing demand for better experience in driving in relation to smoother gear shifting and higher acceleration in vehicles. The usage of advanced technologies and sustainable economic development across the world are the few factors for the growth in the market. Furthermore, rising automotive production globally is anticipated to increase the demand for automotive transmission in the near future.
Based on type, the automotive transmission market is classified into automatic and manual. Automatic transmission is further divided into automated manual transmission (AMT), continuously variable transmission (CVT), and dual-clutch transmission (DCT). In the historical period, manual transmission was preferred by consumers since it was easily available at low cost. However, in recent years, consumers’ preference has switched toward automatic transmission systems. These systems are fuel efficient and offer better driving experience than manual transmission. Furthermore, increasing demand for electric and hybrid vehicles is also expected to benefit the market during the forecast period.
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On the basis of vehicle type, the automotive transmission market is categorized into passenger car, light commercial vehicle (LCV), and medium and heavy commercial vehicle (M&HCV). The passenger car category holds the largest share in the market as compared to other categories, owing to the growing sales of passenger car around the world.
Geographically, Asia-Pacific (APAC) is the largest market for automotive transmission systems. China leads the regional market, with India and Japan making substantial contributions to the market growth. In 2017, car production in China stood at 24.96 million units, the highest among all countries, globally. This is driven by the growing demand for personal transportation vehicles and improving standard of living in the country. Also, rapid urbanization, coupled with improving per capita income, in other developing economies of the region, such as India and Thailand, is also supporting the growth of the automotive transmission market in the APAC region.
- Automotive Transmission Market Dynamics
- Drivers
Additionally, the automotive transmission market is also driven by increase in the production and sales of vehicles around the globe. The production and sales of passenger car is on rise in the APAC and North American regions. Similarly, the market for commercial vehicles has also witnessed considerable growth in recent years, owing to the growing logistics industry and increasing demand for public transportation. Thus, the growth of the automotive industry has directly influenced the growth of the automotive transmission industry.
- Restraint
Automotive transmission systems generally cost high and are a bit complex while manufacturing. With growing technological advancements, these systems used in vehicles are being optimized as per the vehicle platform and supported by multiple sensors. These features make these systems expensive, which in turn, hinder their adoption to some extent and restrain the growth of the automotive transmission market.
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- Automotive Transmission Market Competitive Landscape
Some of the key players operating in the global automotive transmission market are DENSO Corporation, Continental AG, Robert Bosch GmbH, Aisin Seiki Co. Ltd., Johnson Controls Inc., Magna International Inc., Faurecia S.A., Hyundai Mobis Co. Ltd, ZF Friedrichshafen AG, Yazaki Corp., Lear Corp., Delphi Automotive PLC, TRW Automotive Holdings Corp., BASF SE, Valeo SA, Sumitomo Electric Industries, Toyota Boshoku Corp., JTEKT Corp., and Hitachi Automotive Systems.
