Press release
Global Automotive Gears Market: Industry Insights, Key Players, and Forecast for 2025-2029
Automotive Gears Market Size
What Is The Projected Market Size Of The Global Automotive Gears Market And Its Growth Rate?
The automotive gears market has depicted robust growth in the past, with further progression expected in the foreseeable future. Key statistics include:
•In 2024, the market size was approximately $40.39 billion, growing to an estimated $43.56 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.9%.
•The market is projected to expand to $58.67 billion by 2029, with a CAGR of 7.7%, reflecting a consistent growth across the forecast period.
What Is Driving The Growth In The Automotive Gears Market?
A surge in vehicle production is anticipated to fuel the growth of the automotive gears market. The escalating demand for automotive gears, due to enhanced product durability and vehicle fuel efficiency, correlates directly with the increase in vehicle production. According to the India Brand Equity Foundation (IBEF), the Indian automobile sector, inclusive of component production, is projected to be valued between $251.4 and $282.8 billion by 2026. Post-recovery from the COVID-19 pandemic repercussions, the Indian auto sector is expected to witness swift growth in 2021-22. A similar trend is observed in the UK, with a report published by SMMT Driving the Motor Industry in January 2024, explaining that the production of Battery Electric (BEV), Plug-in Hybrid (PHEV), and Hybrid (HEV) vehicles surged to 346,451 units, a 48.0% increase from the previous year, accounting for nearly 38.3% of the total output. Hence, the augmented vehicle production is undeniably a driving force for the growth of the automotive gears market.
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Who Are the Key Players Driving Automotive Gears Market Growth?
Key players contributing significantly to the growth of the automotive gears market include:
•Robert Bosch GmbH
•ZF Friedrichshafen AG
•Eaton Corporation plc
•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
•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
What Are The Key Trends In The Automotive Gears Market?
Prominent trends reshaping the future of the automotive gears market include:
•Demand for compact and efficient gears
•Transition to electrification
•Advancements in gearbox technology
•Emphasis on fuel efficiency and emissions
•Incorporation of advanced materials
What Are The Segments Of The Global Automotive Gears Market?
The market segments identified within the automotive gears market report are:
•By Material Type: Non-Metallic Gears, Metallic Gears
•By Vehicle: Passenger Car, Commercial Vehicles
•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
•By Application: Transmission System, Steering System, Differential System, Other System
Which Region Leads The Automotive Gears Market?
Asia-Pacific emerged as the largest region in the automotive gears market in 2024 and is predicted to be the fastest-growing region during the forecast period. The market report encompasses multiple regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What Is Covered In The Automotive Gears Market Global Market Report?
- Market Size Analysis: Analyze the Automotive Gears Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automotive Gears Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Automotive Gears Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automotive Gears Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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