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Automotive Gears Market 2018 by Key Players, Production, Trends, Demands and Supply to 2023
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Increasing demand for automatic transmission in vehicles is one of the growing trends witnessed in the automotive industry, which has increased the demand of the automotive gears due to its automatic function that provides ease in driving of vehicle. Automatic transmission also helps in achieving better fuel efficiency and less wear and tear of the gears which results in long life of gears.
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Asia-Pacific is expected to lead the automotive gears market during the forecast period. In 2015, India and China were the major contributors of automotive gears market in the region. 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.
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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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