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Automotive CVT Transmission Market Outlook : Opportunities, Challenges, and Forecast (2023-2032)
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Moreover, no shifting of gears offers smooth transmission changes, compact design, and large gear ratio leading to low fuel consumption. Furthermore, CVT offers maximum speed at low engine speeds, leading to fuel saving, and efficient ploughing drive. Since, CVT systems are low weight, compact in size and have fewer moving parts, thus it is preferred amongst automotive manufacturers worldwide. In addition, CVT is now replacing manual and automatic transmission, the original equipment manufacturers (OEMs) are introducing new belt-and-pulley transmission as the standard equipment for their car range due to 10 to 15% better gas mileage and 30 to 40% reduction in friction.
COVID-19 Impact Analysis:
Due to COVID-19 pandemic the government of major countries have announced lockdown which has caused business shutdowns and economic slowdown. Moreover, due to lockdown all the original equipment manufacturers (OEMs) have stopped their automobile manufacturing. This has directly affected the demand of automotive CVT transmission.
Moreover, CVT transmission is mostly found in premium vehicles but due to pandemic the disposable income of people has fallen thus, affecting the demand. Furthermore, due to unavailability of raw materials the manufacturing of automotive CVT transmission has also halted. In addition, due to social distancing norms and other restrictions there was unavailability of labour to work in manufacturing which further delayed the operation.Automotive CVT transmission in automobile is an evolving sector which was affected negatively due to the pandemic which expected to recover again post the pandemic.
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Top Impacting Factors
Rise in demand for better fuel efficiency, rise in demand for vehicle with higher acceleration & power, and low maintenance requirement is expected to drive growth of the market.
However, high cost of CVT vehicles, high maintenance cost, and lack of power during off road conditions can hamper growth of the market.
Moreover, rise in demand for premium vehicles, rise in sale of sports utility vehicles (SUVs), and rise in demand for vehicle with advanced features can act as an opportunity for growth of the market.
Market Trends
Rise in demand for better fuel efficiency
Gasoline being a fossil fuel is not a renewable source of energy and is projected to exhaust in the future. The demand for fuel-efficient vehicles has increased recently, owing to rise in price of petrol and diesel. Moreover, this is attributed to depleting fossil fuel reserves and growth in tendency of companies to gain maximum profit from these oil reserves. For instance, in 2019 JATCO developed Jatco CVT-S for mini vehicles. Since, in Japan 40% of the automobile market share is mini vehicles and this model has low friction & weight suitable for mini vehicles. In addition, ZF Friedrichshafen AG has developed CVT under their TERRAMATIC series for tractors of 400HP and under ECCOM series for off - highway vehicle with power 400 HP to 620 HP. Thus, automatic transmission makes the vehicle more fuel efficient which is an important factor to drive growth of automotive CVT transmission market.
Key Benefits of the Report:
This study presents the analytical depiction of the automotive CVT transmission market along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with challenges of the automotive CVT transmission market.
The current market is quantitatively analyzed from 2020 to 2030 to highlight the automotive CVT transmission market growth scenario.
The report provides detailed automotive CVT transmission market analysis based on competitive intensity and how the competition will take shape in coming years.
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Questions answered in the automotive CVT transmission market research report:
Which are the leading market players active in the automotive CVT transmission market?
What would be the detailed impact of COVID-19 on the market?
What current trends would influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the automotive CVT transmission market?
What are the projections for the future that would help in taking further strategic steps?
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