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Automotive Automatic Transmission Market Growth Analysis, Outlook Report 2024-2033: Strategic Insights
Automotive Automatic Transmission Market Growth
As per the report, the automotive automatic transmission market size has grown strongly in recent years. It will grow from $62.55 billion in 2023 to $67.44 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The automotive automatic transmission market size is expected to see strong growth in the next few years. It will grow to $91.48 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%.
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Rising Shift Towards Electric Vehicles Surges Automotive Automatic Transmission Market Growth
The rising shift towards electric vehicles is expected to propel the growth of the automotive automatic transmission market going forward. Electric and hybrid vehicles are automobiles powered by one or more electric motors, either exclusively or in combination with an internal combustion engine, offering reduced environmental impact and increased energy efficiency. The rising popularity of electric vehicles is driven by factors such as environmental concerns, government incentives, advancements in battery technology, and increasing consumer demand for fuel efficiency. Automotive automatic transmission systems are utilized in electric vehicles to manage power delivery and enhance driving performance efficiently. For instance, in April 2023, according to the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, global electric car sales experienced a notable surge of 3.5 million units in 2023 compared to 2022, representing a substantial 35% year-on-year increase. Therefore, the rising shift towards electric vehicles is driving the growth of the automotive automatic transmission market.
Innovative Developments In The Automotive Automatic Transmission Market
Major companies operating in the automotive automatic transmission market are focusing on developing innovative systems, such as intelligent clutch heat mapping algorithms, to gain a competitive edge in the market. The intelligent clutch heat mapping algorithm refers to a sophisticated software-based system integrated into automotive automatic transmission systems to monitor and optimize the operation of the clutch mechanism. For instance, in July 2022, ZF India, an India-based subsidiary of ZF Friedrichshafen AG that manufactures and supplies integral hydraulic power steering systems, launched the EcoTronic Mid Automated Manual Transmission (AMT) system for commercial vehicles, offering insights to improve fleet operational efficiency. It is equipped with a 'rock-free' mode for smooth driving on challenging terrain; the system doubles clutch life and enhances gearbox life, reducing vehicle downtime. This locally manufactured transmission supports various applications, including road transportation, passenger transport, and mining providing easy operation and reliability.
The automotive automatic transmission market covered in this report is segmented -
1) By Type: Automatic Transmission, Automated Manual Transmission, Dual Clutch Transmission, Continuously Variable Transmission
2) By Fuel Type: Gasoline, Diesel, Hybrid
3) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
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Major companies operating in the automotive automatic transmission market are Ford Motor Company, General Motors, Continental AG, ZF Friedrichshafen AG, Magna International Inc., Aisin Seiki Co. Ltd., Eaton Corporation PLC, Schaeffler AG, BorgWarner Inc., JTEKT Corporation, Dana Incorporated, NTN Corporation, GKN Automotive Limited, Voith Group, AVL List GmbH, Allison Transmission Inc., Ricardo plc, Tremec Corporation, Punch Powertrain NV, JATCO Ltd., Honda Transmission Manufacturing of America, GETRAG, Hyundai PowerTech Co. Ltd.
Contents of the report:
1. Executive Summary
2. Automotive Automatic Transmission Market Report Structure
3. Automotive Automatic Transmission Market Trends And Strategies
4. Automotive Automatic Transmission Market - Macro Economic Scenario
5. Automotive Automatic Transmission Market Size And Growth
…..
27. Automotive Automatic Transmission Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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