Press release
Global Automotive Spur Gear Market to Reach $41.85 Billion by 2029, Growing at 5.5% CAGR
Automotive Spur Gear Market Size
The projected increase in electric vehicle (EV) sales is predicted to boost the automotive spur gear market's expansion. Electric vehicles, which are cars powered by electricity stored in rechargeable batteries or created with hydrogen fuel cells, depend on automotive spur gears for effective power transmission and control of speed and torque. This plays an instrumental role in their rise in the sustainability-focused transportation sphere. For example, the International Energy Agency - an intergovernmental organization based in France - reported in July 2023 that EV sales in 2022 stood at 10 million units, with predictions of the number rising to 14 million in 2023. Therefore, the burgeoning demand for EVs fuels the progress of the automotive spur gear market. The Automotive Spur Gear Market's Growth Is Catalyzed By Increasing Calls For Fuel Efficiency
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What Is the projected market size and growth rate for the automotive spur gear market?
Over the past few years, the market size for automotive spur gears has seen considerable growth. Expected to expand from a value of $31.63 billion in 2024 to a market size of $33.8 billion in 2025, it demonstrates a compound annual growth rate (CAGR) of 6.9%. The growth noted in the historical period can be credited to factors such as the volume of vehicle production, gas consumption norms, trends within automotive design, advancements in materials, and worldwide economic conditions.
The market size of automotive spur gear is projected to experience robust growth in the upcoming years, propelling to $41.85 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 5.5%. Factors contributing to the growth during this period include electric vehicle adoption, efforts to reduce emissions, resilience of the supply chain, rise in vehicle customization, and research and development investments. During the forecast period, statewide trends include incorporation of sophisticated manufacturing technologies, attention to sound abatement technologies, debut of high-strength and high-performance gears, application of advanced surface coatings, focus on energy-saving gear design, and creation of gear answers for electric and hybrid vehicles.
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What trends are poised to drive the future success of the automotive spur gear market?
Leading businesses in the automotive spur gear market are concentrating on creating innovative automatic gear shift models to provide dependable services to their customers. Suzuki has invented an advanced automatic gear system that enables a manual transmission to perform automated gear switches or shifting without the driver having to use the clutch pedal or the gear lever. For instance, in May 2023, Suzuki Motor Corporation, a Japan-based mobility production company, introduced a new S-Presso AGS (Automatic Gear Shift). This automatic gear shift version allows drivers to benefit from a more comfortable, superior performance, and efficient journey from the S-PRESSO AGS, which enhances its distinctive design and sophistication. In addition, it includes a new 1.0L K10C engine and an engine auto stop-start system (EASS), which automatically halts the engine while the vehicle is idle to decrease unnecessary fuel usage, and thus provide an enjoyable driving experience while conserving money.
What major market segments define the scope and growth of the automotive spur gear market?
The automotive spur gear market covered in this report is segmented -
1) By Product: External Spur Gear, Internal Spur Gear
2) By Material: Steel, Nylon, Aluminum, Bronze, Phenolic, Cast iron, Bakelite, Plastics
3) By Vehicle Type: Passenger Vehicles, Commercial Vehicles
4) By Sales Channel: OEM (Original Equipment Manufacturer), After market
Subsegments:
1) By External Spur Gear: Straight Tooth External Spur Gear, Helical Tooth External Spur Gear
2) By Internal Spur Gear: Internal Spur Gear With Straight Teeth, Internal Spur Gear With Helical Teeth
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Which region dominates the automotive spur gear market?
Asia-Pacific was the largest region in the automotive spur gear market in 2024. The regions covered in the automotive spur gear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the automotive spur gear industry growth?
Major companies operating in the automotive spur gear market report are Siemens AG, ZF Friedrichshafen AG, Eaton Corporation PLC, Sumitomo Heavy Industries Ltd., NSK Limited, Bosch Rexroth AG, Linamar Corporation, American Axle & Manufacturing Inc., The Timken Company, MISUMI Corporation, GKN Sinter Metals Engineering GmbH, Tsubakimoto Chain Co., Univance Corporation, Renold PLC, BMT International SA, Bharat Gears Limited, Neugart GmbH, Showa Corporation, Boston Gear Inc., Wittenstein Group, ABA PGT Inc., Cleveland Gear Company, Precision Gears Inc., DESCH Antriebstechnik GmbH & Co. KG, KHK Gears Co Ltd., B&R Motion Gears, Samgong Gear Co. Ltd., DB Gears, Mahindra Gears & Transmissions Pvt Ltd., Oerlikon Graziano SpA
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What Is Covered In The Automotive Spur Gear Global Market Report?
• Market Size Forecast: Examine the automotive spur gear market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the automotive spur gear market for a structured understanding.
• Key Players Overview: Analyze major players in the automotive spur gear market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive spur gear market.
• Segment Contributions: Evaluate how different segments drive overall growth in the automotive spur gear market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive spur gear market.
• Industry Challenges: Identify potential risks and obstacles affecting the automotive spur gear market.
• Competitive Landscape: Review strategic developments in the automotive spur gear market, including expansions, agreements, and new product launches.
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