Press release
Automotive Gears Industry Analysis - Key Market Dynamics and Trends
The automotive gears market size is expected to see strong growth in the next few years. It will grow to $53.95 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to regulatory shifts and emissions standards, adoption of advanced manufacturing techniques, global economic growth and vehicle production, electric mobility and sustainable transmissions, adoption of lightweight and high-strength materials. Major trends in the forecast period include demand for compact and efficient gears, transition to electrification, advancements in gearbox technology, focus on fuel efficiency and emissions, incorporation of advanced materials.
Market Overview -
An automotive gear refers to a spinning device with teeth that transmits torque by meshing with another toothed machine part or gear because of its ability to modify torque, speed, and direction of the power source. Gears are regarded as a key component in an automobile system that is used in various systems in automobiles.
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Rising Vehicle Production Fuels Growth In The Automotive Gear Market
Increasing vehicle production is expected to propel the growth of the automotive gears market. With the rise in vehicle production, the demand for automotive gears will increase as it provides enhanced product durability and vehicle fuel efficiency. For instance, according to IBEF (India Brand Equity Foundation), an Indian Government export promotion agency, by 2026, the Indian automobile sector (including component production) is predicted to be worth between $251.4 and $282.8 billion. After recovering from the effects of the COVID-19 pandemic, the Indian auto sector is predicted to rise rapidly in 2021-22. Therefore, an increase in vehicle production drives the growth of automotive gears market.
Competitive Landscape -
Major companies operating in the automotive gears market report are Mitsubishi Corp., Robert Bosch GmbH, ZF Friedrichshafen AG, Eaton Corporation plc, DuPont de Nemours, Inc., Dynamatic Technologies Limited, Dana Holding Corporation, NSK Ltd., Linamar Corporation, American Axle & Manufacturing Holdings Inc., Universal Auto Gears LLP, Altra Industrial Motion Corporation, Gleason Corporation, Univance Corporation, Neapco Inc., Franz Morat Group, Amtech International Inc., Bharat Gears Limited, IMS Gear SE & Co. KGaA, RSB Transmissions Ltd., Framo Morat GmbH & Co. KG, Precipart Group Inc., Cone Drive Operations Inc., Taiwan United Gear Co. Ltd., Atlanta Gear Works Inc., Tracey Gear & Precision Shaft Inc., Showa Corporation, B.D. Industries (India) Pvt. Ltd., GKN plc
High-Precision Prototyping Revolutionizing E-Automotive Components
As the automotive gears market expands, new developing trends in the sector are emerging to keep up with the technological advancements surrounding the market. For instance, in 2021 Swiss gear technology company, Humbel's high-precision gear technology one of the leading innovations in gearboxes and transmissions company has designed prototyping for individual special components like internal (ring gears) delivered in the form of flexible, fast, and reliable services that are used in things like e-axels and e-gears in the E-automotive vehicles.
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Key Segments -
The automotive gears market covered in this report is segmented -
1) By Material Type: Non- Metallic Gears, Metallic Gears
2) By Vehicle: Passenger Car, Commercial Vehicles
3) By Product: Parallel Shaft Gears, Spur Gear, Helical Gear, Rack And Pinion Gear, Intersecting Shaft Gear, Bevel Gear, Skew Shaft Gear, Hypoid Gear, Worm Gear, Planetary Gears
4) By Application: Transmission System, Steering System, Differential System, Other System
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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