Press release
Top Factor Driving Automotive Transmission Market Growth in 2025: Rising Demand For Electric And Hybrid Vehicles Spurs Growth In Automotive Transmission Market
Automotive Transmission Market Share
The size of the automotive transmission market has witnessed robust expansion in recent years. Its anticipated growth estimates project an increase from $131.61 billion in 2024 to a substantial $140.96 billion by 2025, translating to a Compound Annual Growth Rate (CAGR) of 7.1%. Factors that have contributed to this escalation during the historic period include an upsurge in global car manufacturing, amplified tendency of consumers towards automatic transmissions, authoritative regulations on emissions and fuel efficiency, growing disposable income and enhanced standards of living, in addition to increased investments in research and development for pioneering transmission advances.
In the coming years, the automotive transmission market is predicted to experience robust growth, expanding to $182.96 billion by 2029 with a compound annual growth rate (CAGR) of 6.7%. This growth within the projected period can be traced back to ongoing advancements in Electric Vehicle (EV) transmissions, rising demand for vehicles which are fuel-efficient and low on emissions, growing automotive businesses in emerging markets, increased reliance on Advanced Driver-Assistance Systems (ADAS), and government initiatives promoting green technologies. The forecast period is likely to see trends such as a move towards hybrid and entirely electric vehicle transmissions, the creation of lightweight, compact transmission systems, the incorporation of intelligent and connected transmission technologies, increased emphasis on transmission durability and performance, and technological progression in transmission systems.
What Are the Primary Growth Drivers for the Automotive Transmission Market?
The growth of the automotive transmission market is projected to be spurred by the escalating demand for electric and hybrid vehicles. These types of vehicles, which employ electric propulsion systems either solely or in conjunction with traditional internal combustion engines, are highly sought after because they have the potential to decrease emissions and heighten fuel efficiency. Factors such as growing environmental consciousness, governmental incentives, and advances in battery technology are driving the demand for electric and hybrid vehicles. Automotive transmission systems are crucial in these vehicles as they manage power allocation amongst electric motors, batteries and internal combustion engines to heighten efficiency and performance. To exemplify, in April 2023, The International Energy Agency (IEA), a Europe-based independent intergovernmental organization, reported a significant increase of 3.5 million units in global electric car sales in 2023, representing a considerable year-on-year growth of 35% as compared to 2022. Hence, the escalating demand for electric and hybrid vehicles is fueling the expansion of the automotive transmission market.
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Who Are the Dominant Companies Influencing Automotive Transmission Market Trends?
Major companies operating in the automotive transmission market are Volkswagen, Toyota Motor Corporation, Ford Motor Company, General Motors Co., Honda Motor Co. Ltd., Nissan Motor Co. Ltd., Caterpillar Inc., ZF Friedrichshafen AG, Magna International Inc., Aisin Corporation, Chang'an Automobile Co. Ltd., BorgWarner Inc., American Axle & Manufacturing Inc., FAW Group Corp. Ltd., CLAAS, Allison Transmission Holdings Inc., Kalyani Technoforge Limited, TREMEC Corporation, Link Engineering Company, JATCO Ltd., Solero Technologies LLC, IMS Global Gear Machining LLC, Avtec Limited, Shanghai Automotive Transmission Co. Ltd., Hyundai Kefico Corporation, Colotti Trasmissioni, Gimec Trasmissioni S.r.l.
How Is the Automotive Transmission Market Evolving?
Companies with a significant presence in the automotive transmission industry are increasingly focusing on cutting-edge products equipped with features like crawl mode and hill-start assistance to secure competitive edge. These features contribute to improved driving comfort and safety by facilitating smoother uphill starts and low-speed navigation in off-road or highly dense urban situations. As an example, in October 2023, ZF Group, a producer of automotive parts based in Germany, introduced the Transwin to the market. The Transwin is an automatic transmission designed for medium and heavy-duty trucks in China, available in both 9-speed and 6-speed variants thereby accommodating a wide range of user preferences and work conditions. It is tailored for several transportation contexts, including city and long-distance delivery, offering features like crawl mode and hill-start assistance for a more comfortable driving experience. The Transwin is equipped with ZF's newest software platform and OptiDrive shift system, ensuring accuracy in gear shifts and maximal performance across all driving situations.
What Are the Different Segmentations in the Automotive Transmission Market?
The automotive transmission market covered in this report is segmented -
1) By Transmission Type: Manual Transmission, Intelligent Manual Transmission (IMT), Automated Manual Transmission (AMT), Automatic Transmission (AT), Dual-Clutch Transmission, Other Transmission Types
2) By Engine: Internal Combustion (IC) Engine, Electric Engine
3) By Fuel Type: Gasoline, Diesel, Other Fuel Types
4) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle, Electric Vehicle
Subsegments:
1) By Manual Transmission: 5-Speed Manual Transmission, 6-Speed Manual Transmission, 7-Speed Manual Transmission, Other Manual Transmission Variants
2) By Intelligent Manual Transmission (IMT): Semi-Automatic IMT, Fully Automated IMT
3) By Automated Manual Transmission (AMT): Single Clutch AMT, Dual Clutch AMT
4) By Automatic Transmission (AT): Conventional Automatic Transmission, Continuously Variable Transmission (CVT), Torque Converter AT, Variable Torque Converter AT
5) By Dual-Clutch Transmission (DCT): 6-Speed DCT, 7-Speed DCT, 8-Speed DCT
6) By Other Transmission Types: Hybrid Transmission, Electric Vehicle (EV) Transmission, Continuously Variable Planetary (CVP) Transmission, Single-Speed Transmission
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Which Region Is at the Forefront of the Automotive Transmission Market?
Europe was the largest region in the automotive transmission market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive transmission market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Automotive Transmission Global Market Report?
- Market Size Analysis: Analyze the Automotive Transmission Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automotive Transmission 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 Transmission Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automotive Transmission Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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