Press release
Automotive Transmission Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share
Automotive Transmission
The automotive transmission market is anticipated to grow due to the rising popularity of electric and hybrid vehicles. These vehicles, which rely either solely or partly on electric propulsion systems in addition to traditional internal combustion engines, are in greater demand due to increased environmental awareness, government incentives, and advancements in battery technology. They use automotive transmission systems to balance power distribution among electric motors, batteries, and internal combustion engines, optimizing efficiency and performance. As reported by The International Energy Agency (IEA), an autonomous intergovernmental organization based in Europe, in April 2023, global sales of electric cars saw a notable increase of 3.5 million units in 2023, a significant 35% year-on-year rise compared to 2022. Hence, the growing preference for electric and hybrid vehicles is fuelling the expansion of the automotive transmission market.
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What growth opportunities are expected to drive the automotive transmission market's CAGR through 2034?
In the past few years, the automotive transmission market's size has experienced substantial growth. The market is expected to expand from a value of $131.61 billion in 2024 to $140.96 billion in 2025, indicating a compound annual growth rate (CAGR) of 7.1%. This historical growth is linked to various factors such as an increase in global car manufacturing, a shift in consumer preferences towards automatic transmissions, governmental rules regarding fuel efficiency and emission standards, growth in disposable incomes, enhanced living standards, and rising investments in research and development for novel transmission technologies.
In the coming years, the automotive transmission market is predicted to experience significant expansion, with the market projected to grow to a value of $182.96 billion in 2029, exhibiting a compound annual growth rate (CAGR) of 6.7%. Factors contributing to the predicted growth include ongoing innovation in the area of electric vehicle (EV) transmissions, heightened demand for vehicles that are fuel-efficient and emit low levels of emissions, the rise of automotive industries in developing markets, an uptick in the implementation of advanced driver-assistance systems (ADAS), and governmental incentives that promote the advancement of green technologies. The forecast period is expected to witness trends including a shift towards transmissions for hybrid and fully electric vehicles, the emergence of compact and lightweight transmission systems, the incorporation of intelligent and connected transmission technologies, increased attention to transmission durability and performance, and technological progress in transmission systems.
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What are the emerging trends shaping the future of the automotive transmission market?
In the automotive transmission sector, leading firms concentrate on technologically advanced goods that include features like crawl mode and hill-start support in order to gain a competitive edge. These functionalities increase driving comfort and safety by enabling smoother uphill starts and slow-speed navigation in crowded urban or off-road areas. For example, in October 2023, ZF Group, a Germany-based automotive components manufacturer, introduced the Transwin, an automatic transmission system for medium and heavy-duty trucks in China. Its range consists of 9-speed and 6-speed models, designed to meet different user needs and working environments. It aims to cater to various transportation scenarios, such as long-distance and city delivery, incorporating features like crawl mode and hill-start support for improved driving ease. It came with ZF's most recent software platform and the OptiDrive shift system, ensuring accurate gear changes and optimal performance in all driving situations.
Which growth-oriented segments of the automotive transmission market are leading the industry's development?
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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What regions are leading the charge in 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 companies are at the forefront of innovation in the automotive transmission market?
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.
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What Is Covered In The Automotive Transmission Global Market Report?
•Market Size Forecast: Examine the automotive transmission market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the automotive transmission market for a structured understanding.
•Key Players Overview: Analyze major players in the automotive transmission market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive transmission market.
•Segment Contributions: Evaluate how different segments drive overall growth in the automotive transmission market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive transmission market.
•Industry Challenges: Identify potential risks and obstacles affecting the automotive transmission market.
•Competitive Landscape: Review strategic developments in the automotive transmission market, including expansions, agreements, and new product launches.
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