GLOBAL AUTOMOTIVE GEARS MARKET IS ANTICIPATED TO GROW AT A CAGR OF AROUND 6.54% BY 2022, KEY PLAYERS ARE BHARAT GEARS LTD., SHOWA CORPORATION, TAIWAN UNITED GEAR CO. LTD., ZF TRW

Gears have become a major distinguished component in the automotive systems. Automotive differential systems, steering systems and transmission systems employ gears extensively. As the global automotive industry is under recovery and the sales close to pre-recession levels, there is an increased demand for automotive gears recently.

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Increase in the production of vehicles, increasing demand for improved acceleration and low carbon footprints are the driving factors of the global automotive gears market, specifically in Asia-Pacific regions. Additionally, the other factors such as economic growth and rise in income levels in the developing countries lead to an increased demand and production of vehicles. This further drives the growth of the global automotive gears market.

Market Dynamics

The global automotive gears market is anticipated to grow at a CAGR of around 6.54% by 2022. Following are the different driving factors for the growth of this market:

Drivers:

Increased production of automobiles resulting in increased demand for gear systems
Demand for a smoother ride experience by consumers
Rising disposable incomes and vehicle-owning households
Advancements in non-ferrous metal castings
Identification of durable polymer materials

Market Segmentation

Segmentation based on material type:
Ferrous metals
Non-ferrous metals
Plastics

Segmentation based on application type:
Steering systems
Transmission systems
Differential systems

Segmentation based on position of axis of shaft type:
Skew shaft gears
Intersecting shaft gears
Parallel shaft gears

Segmentation based on geography:
North America
Europe
Asia-Pacific
Latin America
Africa & Middle East

Opportunities

As of 2015, the differential systems were the major application of gears. However, the increasing demand for smoother gear-shift-ratio systems and auto-transmission systems is expected to push the automotive gears market in the transmission systems towards a higher CAGR by the end of the forecasted period. It is estimated that the lightweight and highly durable aluminium and composite gears will gain higher popularity in the market, thereby leading to a significant growth in the forecasted period.

The majority of the revenue in the automotive component manufactures is generated by Asia-Pacific. The growth of the automobile production in the region, with emerging hubs such as India and China in automotive component manufactures, is expected to fasten the growth of the market in the region by the end of forecasted period. In the light of growing automotive markets of Portugal and Spain, Europe is expected to witness substantial growth in the automotive gears market.

Key Players

Bharat Gears Ltd.
Showa Corporation
Taiwan United Gear Co. Ltd.
ZF TRW

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Report Contents Regional Analysis Report Highlights

Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market - Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players

North America
US and Canada

Latin America
Mexico, Brazil, Argentina and Rest of Latin America

Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe

Eastern Europe
Russia
Poland
Rest of Eastern Europe

Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific

Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa

This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.

Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)

Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage

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