Press release
Automotive Gears Market Expected to Witness a Significant Growth of 38 Billion US$ Globally by 2023 | AAM, AmTech, Bharat Gears, Cone Drive, GKN, IMS Gear GmbH, Robert Bosch GmbH
Automotive Gears Market
Overview of the Global Automotive Gears Market:
The Global Automotive Gears Market is forecasted to grow over 6.0% in the year 2018 and estimated to reach USD 38 Billion by 2023.
Gears have established themselves as a major component in automotive systems. Gears are found extensively in automotive differential systems, steering systems, and transmission systems. The global automotive production grew by 2,225,965 vehicles in 2017 compared to 2016. The number grew from 94,976,569 in 2016 to 97,302,534 in 2017, indicating a considerable growth in production statistics during the last year. The global sales figure grew by approximately 3% during the past year.
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With the growing demand for auto-transmission systems and smoother gear-shift-ratio systems is expected to propel the market for gears in transmission systems towards a higher CAGR by 2023. Lightweight and highly durable aluminum and composite gears are estimated to gain higher popularity with their market, registering a significant growth in the coming 5 years. In 2017, Differential system gears segment dominated the market and the transmission system gears segment is expected to dominate the market during 2018-2023 due to the rising adaptation of automatic transmission in passenger cars.
Automotive gears are of various types, which include spur gear, bevel gear, planetary gear, helical gear, rack and pinion, and others. An automatic transmission is a type of motor vehicle transmission that can automatically change gear ratios as the vehicle moves, which prevent the driver from shifting the gears manually.
Increasing demand for the 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 the driving of the vehicle. The automatic transmission also helps in achieving better fuel efficiency and less wear and tear of the gears, which results in a long life of gears.
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Major Key Players:
1 AAM
2 AmTech International
3 B & R Machine and Gear Corporation
4 Bharat Gears Ltd
5 Cone Drive
6 Dynamatic Technologies Ltd.
7 Franz Morat Group
8 GKN Plc
9 Gleason Plastic Gears
10 IMS Gear GmbH
11 Robert Bosch GmbH and More…………………
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Table of Contents:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Market Overview and Technology Trends
5 Market Dynamics
6 Global Automotive Gears Market Segmentation, by Position of Axis of Shaft Type
7 Global Automotive Gears Market Segmentation, by Material Type
8 Global Automotive Gears Market Segmentation, by Application Type
9 Global Automotive Gears Market Segmentation, by Geography
10 Competitive Landscape
11 Company Profile
12 Future Outlook of the Market
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