Press release
Comprehensive Automotive Gears Market Insights: Forecasting Size, Growth, and Competitive Trends from 2025 to 2034
Automotive Gears
The surge in vehicle manufacturing is anticipated to fuel the expansion of the automotive gears market. The growing vehicle production results in higher demand for automotive gears due to their increased resilience and fuel efficiency of the vehicle. For instance, the Indian Government export promotion agency, IBEF (India Brand Equity Foundation), forecasts that the Indian automobile sector (along with component production) could be valued between $251.4 and $282.8 billion by 2026. Following recovery from disruptions caused by the COVID-19 pandemic, the Indian automotive sector is expected to experience rapid growth in 2021-22. Moreover, in January 2024, the UK-based automotive industry, SMMT Driving the Motor Industry, reported that the production of battery-electric (BEV), plug-in hybrid (PHEV), and hybrid (HEV) vehicles in the UK escalated to 346,451 units, a 48.0% increase from the previous year, contributing almost two fifths (38.3%) to total production. As such, the upward trajectory of vehicle production stimulates the development of the automotive gears market.
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What is the future CAGR of the automotive gears market, and how will it impact industry expansion?
The market size for automotive gears has seen significant expansion in the recent past. Its size is estimated to escalate from $40.39 billion in 2024 to $43.56 billion in 2025, evidencing a compound annual growth rate (CAGR) of 7.9%. The impressive growth during the historical phase can be linked to factors like the industrial revolution, increase in demand for machinery, the evolution of the automotive industry, and a rise in mass production methods. Innovations in gear design and materials, as well as the influence of world wars on the automotive industry, also played a substantial role in its growth.
In the forthcoming years, the automotive gears market is expected to witness robust growth, reaching a worth of $58.67 billion by the year 2029 with a compound annual growth rate or CAGR of 7.7%. Numerous factors can be ascribed to this growth during the predicted period, including regulatory transformations and emission standards, the adoption of high-tech manufacturing methods, the overall rise in global economic growth and vehicle production, electric mobility and sustainable transmissions, and the usage of lightweight yet high-strength materials. The forecast period will also see various trends such as the growing demand for compact and efficient gears, shift towards electrification, advancements in gearbox technologies, emphasis on fuel efficiency and emissions, and incorporation of sophisticated materials.
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What are the most significant trends transforming the automotive gears market today?
The growth of the automotive gears market has led to the emergence of innovative trends, befitting the realm's technological evolution. Stellantis N.V., a company situated in the Netherlands, initiated the manufacture of electrified dual-clutch transmissions (eDCTs) across its wide range of 14 branded vehicles, as of April 2024. With the ability to cut down CO2 emissions by up to 20% in comparison to conventional combustion engines paired with automatic transmissions, the eDCT is bestowed with a 21 kW electric motor. This enables the vehicles to function in purely electric mode during low-speed travel, enhancing energy efficiency and curbing fuel usage besides diminishing emissions. The mechanism gathers kinetic energy while braking and slowing down, which is saved in a compact battery and tapped into during acceleration, optimizing the utilization of energy.
Which key market segments comprise the automotive gears market and drive its revenue growth?
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
Subsegments:
1) By Non-Metallic Gears: Plastic Gears, Composite Gears, Phenolic Gears, Rubber Gears
2) By Metallic Gears: Steel Gears, Aluminum Gears, Brass Gears, Cast Iron Gears, Stainless Steel Gears
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What regions are at the forefront of automotive gears market expansion?
Asia-Pacific was the largest region in the automotive gears market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive gears market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the automotive gears market?
Major companies operating in 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
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What Is Covered In The Automotive Gears Global Market Report?
• Market Size Forecast: Examine the automotive gears market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the automotive gears market for a structured understanding.
• Key Players Overview: Analyze major players in the automotive gears market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive gears market.
• Segment Contributions: Evaluate how different segments drive overall growth in the automotive gears market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive gears market.
• Industry Challenges: Identify potential risks and obstacles affecting the automotive gears market.
• Competitive Landscape: Review strategic developments in the automotive gears market, including expansions, agreements, and new product launches.
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