According to a new report by Expert Market Research titled, “Global Automotive Transmission Market Growth, Size, Share, Report and Forecast 2024-2032″, the global automotive transmission market size reached approximately USD 138.91 billion in 2023. Aided by the increasing demand for fuel-efficient and environmentally friendly vehicles, the market is further projected to grow at a CAGR of 6.3% between 2024 and 2032, reaching a value of USD 239.38 billion by 2032.
The global automotive transmission market is a critical component of the automotive industry, encompassing the systems responsible for transmitting power from the engine to the wheels, thereby enabling vehicle movement. Automotive transmissions are essential for adjusting the engine’s output to the drive wheels, optimizing vehicle performance, fuel efficiency, and driving comfort. There are various types of transmissions, including manual, automatic, continuously variable transmissions (CVT), dual-clutch transmissions (DCT), and automated manual transmissions (AMT). Each type of transmission offers distinct advantages, catering to different driving needs and preferences, which has led to a diverse and competitive market landscape.
One of the primary automotive transmission market trends is the increasing demand for fuel-efficient and environmentally friendly vehicles. As governments around the world impose stricter emissions regulations and consumers become more environmentally conscious, automakers are under pressure to develop vehicles that deliver better fuel efficiency and lower emissions. This has driven the market growth of advanced transmission systems, such as CVTs and DCTs, which are known for their ability to optimize engine performance and reduce fuel consumption. These transmissions provide seamless gear shifts and maintain the engine in its most efficient operating range, contributing to overall vehicle efficiency. The growing emphasis on fuel economy is a significant factor in the market expansion of automotive transmission systems, as manufacturers seek to meet regulatory requirements and consumer expectations.
Get a Free Sample Report with Table of Contents: https://www.expertmarketresearch.com/reports/automotive-transmission-market/requestsample
The rise of electric vehicles (EVs) is another critical trend influencing the global automotive transmission market growth. Unlike traditional internal combustion engine (ICE) vehicles, which require multi-speed transmissions, most EVs use single-speed transmissions due to the high torque and wide powerband of electric motors. However, as the EV market grows, there is increasing interest in developing multi-speed transmissions for electric vehicles to enhance performance, particularly in terms of acceleration and energy efficiency. This trend represents a potential area of market development, as transmission manufacturers explore new technologies to meet the unique demands of the electric vehicle market. The shift towards electrification is expected to drive significant changes in the transmission market, influencing both the types of transmissions developed and the overall market value.
Another important trend in the automotive transmission market is the growing popularity of automated manual transmissions (AMTs). AMTs offer the convenience of an automatic transmission with the efficiency of a manual transmission, making them an attractive option for consumers seeking a balance between performance and fuel economy. These transmissions use automated clutch and gear shift operations, allowing for smooth and efficient driving without the need for a traditional clutch pedal. The increasing market demand for vehicles equipped with AMTs is driven by their cost-effectiveness and ease of use, particularly in urban environments where frequent stop-and-go driving is common. As more automakers incorporate AMTs into their vehicle offerings, this segment of the transmission market is expected to experience robust market growth.
The advancement of transmission technologies is also being driven by the integration of electronics and software into automotive systems. Modern transmissions are becoming increasingly sophisticated, incorporating electronic control units (ECUs) that enable real-time adjustments to shifting patterns based on driving conditions, driver inputs, and vehicle load. These advancements are part of a broader trend towards vehicle automation and connectivity, where transmissions play a crucial role in enhancing the overall driving experience. The development of smart transmissions that can communicate with other vehicle systems and adapt to changing conditions is a key area of focus in the market, contributing to the ongoing market expansion and the evolution of transmission technologies.
Read Full Report with Table of Contents: https://www.expertmarketresearch.com/reports/automotive-transmission-market
Furthermore, the global automotive transmission market is being influenced by the growing trend towards lightweighting in vehicle design. As automakers strive to reduce vehicle weight to improve fuel efficiency and meet emissions targets, there is a corresponding demand for lighter transmission components. The use of advanced materials, such as high-strength steel, aluminum, and composites, is becoming more prevalent in transmission manufacturing. This trend towards lightweight transmissions not only enhances vehicle performance but also contributes to overall market development as manufacturers innovate to create more efficient and sustainable transmission systems.
In addition to these trends, the increasing focus on driving comfort and vehicle performance is driving the automotive transmission market demand for advanced transmission systems. Consumers today expect smooth and responsive driving experiences, which has led to the widespread adoption of automatic transmissions, particularly in markets such as North America and Europe. The shift away from manual transmissions towards automatics is a notable market trend, driven by the desire for convenience and enhanced driving dynamics. This trend is expected to continue as automakers introduce new models equipped with advanced transmission technologies designed to offer superior performance and comfort.
Market Segmentation
The global automotive transmission market can be divided based on transmission type, fuel type, vehicle type, and region.
Market Breakup by Transmission Type
• Manual Transmission
• Automatic Transmission
• Continuously Variable Transmission (CVT)
• Semi-Automatic Transmission
• Others
Market Breakup by Fuel Type
• Petrol
• Diesel
• CNG
Market Breakup by Vehicle Type
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global automotive transmission market. Some of the major players explored in the report by Expert Market Research are as follows:
• Magna International Inc.
• Aisin Corporation
• BorgWarner Inc.
• Continental AG
• Eaton Corporation plc
• Schaeffler AG
• ZF Friedrichshafen AG
• Allison Transmission, Inc.
• JATCO Ltd.
• Dana Incorporated
• Aichi Machine Industry Co., Ltd.
• Others
Read More Trending Reports
South Korea Mobile Gaming Market: https://www.expertmarketresearch.com/reports/south-korea-mobile-gaming-market
United States Electric Bus Market: https://www.expertmarketresearch.com/reports/united-states-electric-bus-market
Vietnam Home Furniture Market: https://www.expertmarketresearch.com/reports/vietnam-home-furniture-market
About Us
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.
Our high-quality, data-driven analysis provides the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today’s competitive market.
Don’t miss the opportunity to elevate your business intelligence and strengthen your strategic planning. Secure your organisation’s future success by acquiring one of our Expert Market Research reports today.
Media Contact
Company Name: Claight Corporation
Contact Person: John Walker, Corporate Sales Specialist – U.S.A.
Email: sales@expertmarketresearch.com
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Website: https://www.expertmarketresearch.com
Aus Site: https://www.expertmarketresearch.com.au
