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Explore Industry Insights in Automotive Gears Market Size, Share, Development, Growth and Demand Forecast to 2023
Automotive Gears Market
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An automotive gear is a rotating part containing teeth, which forms a mesh with another toothed machine part or gear and transmits torque. The gears can change torque, speed and direction of the power source. Automotive gears are of various types, including spur gear, bevel gear, planetary gear, helical gear, rack and pinion, and others.
The planetary gears used in automobiles are expected to account for the largest market during the forecast period, attributed to the increasing demand for low-carbon-footprint technologies. The planetary gear systems enable vehicle’s engine to run at an optimum level, thereby reducing engine losses that may result from friction and lubrication.
The increasing domestic automotive production, especially in countries such as India and China, is expected to boost the growth of the Asia-Pacific automotive gears market. North America is expected to constitute the second largest automotive gears market during the forecast period owing to the large customer base and high disposable income resulting in increased demand of vehicles in the region. This has resulted in increased manufacturing activities by local automotive OEMs. This in turn, boosts the growth of the automotive gears market.
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Some of the major competitors in the global automotive gear market include Showa Corporation, Bharat Gears Limited, IMS Gear, RSB Transmissions (I) Ltd., Robert Bosch GmbH, ZF Friedrichshafen AG, E. I. du Pont de Nemours and Company, GKN plc, Univance Corporation and American Axle & Manufacturing Holdings, Inc.
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