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Rising Automobile Production Drives Growth In The Continuously Variable Transmission Market Driver: A Major Catalyst in the Evolution of the Continuously Variable Transmission Market in 2025
Continuously Variable Transmission
The growth in automobile production is expected to drive the continuous variable transmission (CVT) market. As more vehicles are produced, the demand for fuel-efficient and comfortable driving technologies, such as CVT, increases. CVT offers enhanced fuel efficiency and adaptability across various driving conditions. In 2023, the International Organization of Automobile Manufacturers reported a global increase in motor vehicle production, from 84.83 million units in 2022 to 93.55 million in 2023. Therefore, the growing automobile production is boosting the CVT market.
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What is the projected compound annual growth rate (CAGR) of the continuously variable transmission market from 2025 to 2034, and what factors influence it?
The continuously variable transmission market has seen significant growth in recent years. It is expected to expand from $21.2 billion in 2024 to $22.4 billion in 2025, with a CAGR of 5.7%. This growth can be attributed to the increased sales of luxury vehicles, the demand for better fuel efficiency, a rise in the demand for utility vehicles, and growing concerns over comfort and safety in transportation.
The continuously variable transmission market is expected to see strong growth, reaching $27.72 billion by 2029 at a CAGR of 5.5%. This growth can be attributed to increased automobile production, higher demand for eco-friendly vehicles, the rise of local manufacturers, growing awareness about environmental pollution, and the increasing sales of both commercial and passenger cars. Trends include technological innovations, the adoption of assistance systems, integration into luxury vehicles, and compatibility with hybrid and electric vehicles.
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How are the latest trends influencing the growth of the continuously variable transmission market?
In the continuously variable transmission (CVT) market, companies are focusing on developing efficient CVTs for small and medium-sized front-wheel-drive vehicles to enhance fuel economy and performance. For instance, in October 2023, JATCO Ltd., a Japanese transmission company, introduced the Jatco CVT-XS, designed for small to medium front-wheel-drive cars. It offers 90% transmission efficiency, excellent responsiveness, and improved drivability, helping meet the demand for low-emission vehicles.
What are the major segments of the continuously variable transmission market and their role in driving growth?
The continuously variable transmission market covered in this report is segmented -
1) By Type: Belt-Chain Drive Continuously Variable Transmission, Planetary Continuously Variable Transmission
2) By Capacity: Up To 1.5 L, 1.5 L To 3.0 L, Above 3.0 L
3) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Other Vehicles
4) By End-Use: Original Equipment Manufacturer, Aftermarket
Subsegments:
1) By Belt-Chain Drive Continuously Variable Transmission: Rubber Belt-Based CVT, Steel Belt-Based CVT, Hybrid Belt-Chain Drive Systems
2) By Planetary Continuously Variable Transmission: Hydraulically Controlled Planetary CVT, Mechanically Controlled Planetary CVT
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Which regions are key players in the growth of the continuously variable transmission market?
Asia-Pacific was the largest region in the continuously variable transmission market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the continuously variable transmission market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the continuously variable transmission market?
Major companies operating in the continuously variable transmission market are Toyota Motor Corporation, Honda Motor Co. Ltd., Hyundai Motor Company, Robert Bosch GmbH, Kia Motors, Renault S.A., ZF Friedrichshafen AG, Aisin Corporation, Mazda Motor Corporation, Subaru Corporation, Geely Automobile, Nidec-Shimpo Corporation, Chery Automobile Co. Ltd., BorgWarner Inc., Peugeot S.A., Endurance Technologies Limited, Team Industries Inc., IAV GmbH, JATCO Ltd., Steyr Motors GmbH, Gaokin Industry Co. Ltd., Wanliyang Co. Ltd.
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What Is Covered In The Continuously Variable Transmission Global Market Report?
•Market Size Forecast: Examine the continuously variable transmission market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the continuously variable transmission market for a structured understanding.
•Key Players Overview: Analyze major players in the continuously variable transmission market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the continuously variable transmission market.
•Segment Contributions: Evaluate how different segments drive overall growth in the continuously variable transmission market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the continuously variable transmission market.
•Industry Challenges: Identify potential risks and obstacles affecting the continuously variable transmission market.
•Competitive Landscape: Review strategic developments in the continuously variable transmission market, including expansions, agreements, and new product launches.
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