Automotive Transmission Industry Overview
The global automotive transmission market size is expected to reach USD 211.85 billion by 2028, registering a CAGR of 5.2% over the forecast period, according to a new report by Grand View Research, Inc. The Covid-19 pandemic has adversely affected the automobile industry, leading to a decline in the growth of this market. Increasing concerns regarding global warming and pollution have led to various stringent government regulations pertaining to vehicular emissions. Such regulatory guidelines have propelled component suppliers to manufacture eco-friendly and high-efficiency transmission systems for domestic and international markets.
Thus, increasing emission standards worldwide are one of the key factors driving the growth of the market. Emission performance standards set a limit on the amount of various gases permissible for emission. While the main goal of these standards is to direct the limit for pollutants, such as nitrogen and sulfur oxides, they also help regulate the proportion of greenhouse gasses, particularly carbon dioxide, in exhaust emissions. In the U.S., emissions standards are managed by the Environmental Protection Agency (EPA), whereas the state of California has special vehicle emissions norms. Other states in the U.S. follow either the EPA or the California standards.
Automotive Transmission Market Segmentation
Grand View Research has segmented the global automotive transmission market on the basis of transmission type, fuel type, vehicle type, and region:
Based on the Transmission Type Insights, the market is segmented into Manual and Automatic
- The manual type segment accounted for the largest revenue share of more than 50% in 2020. This growth is attributed to the price difference in vehicles with manual and automatic transmission variants.
- The automatic type segment is projected to register the fastest CAGR from 2021 to 2028. The growth can be attributed to the advancements in the automotive industry and improvements in automatic transmissions.
Based on the Fuel Type Insights, the market is segmented into Gasoline, Diesel, and Others
- The gasoline segment accounted for the largest revenue share of more than 55% in 2020.
- The diesel segment is estimated to register a steady CAGR from 2021 to 2028.
Based on the Vehicle Type Insights, the market is segmented into Passenger Cars, LCVs, and HCVs
- The passenger cars segment accounted for the largest revenue share of over 67% in 2020. Volatile fuel prices and the transportation infrastructure influence the demand for passenger cars.
- The HCVs segment is estimated to register the maximum CAGR of more than 8% from 2021 to 2028.
Automotive Transmission Regional Outlook
- North America
- Europe
- Asia Pacific
- Rest of the World
Key Companies Profile & Market Share Insights
Most of the key companies focus on providing technologically driven and advanced products to enhance their product offerings in the market. The companies are also undertaking strategic initiatives, such as regional expansions, acquisitions, mergers, partnerships, and collaborations, to enhance their market share. Organic growth remains the key strategy for the overall industry with a significant focus on product launches.
Some prominent players in the global Automotive Transmission market include:
- Aisin Seiki Co., Ltd.
- Allison Transmission, Inc.
- BorgWarner Inc.
- Continental AG
- Eaton Corporation PLC
- Getrag
- GKN PLC
- Jatco Ltd.
- Magna International, Inc.
- ZF Friedrichshafen AG
Order a free sample PDF of the Automotive Transmission Market Intelligence Study, published by Grand View Research.
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