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Automotive Gears Market Size, Share, Trend Analysis, Segmentation And Forecast To 2033
Automotive Gears Market Overview
As per the report, the automotive gears market size has grown strongly in recent years. It will grow from $37.68 billion in 2023 to $40.64 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. 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%.
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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.
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.
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
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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
Contents of the report:
1. Executive Summary
2. Automotive Gears Market Report Structure
3. Automotive Gears Market Trends And Strategies
4. Automotive Gears Market - Macro Economic Scenario
5. Automotive Gears Market Size And Growth
…..
27. Automotive Gears Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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