Press release
Automotive Gears Market Report 2025-2034: Industry Overview, Trends, And Forecast Analysis
Automotive Gears Market Size
What Is the Current Automotive Gears Market Size and Its Estimated Growth Rate?
The market size of automotive gears has seen considerable growth in the past few years. The projection for its growth is from $40.39 billion in 2024, increasing to $43.56 billion in 2025, with a compound annual growth rate (CAGR) of 7.9%. The historic period's growth is credited to the industrial revolution, demand for machinery, the evolution of the automotive industry, innovative gear designs and materials, the effects of world wars on the automotive sector, and the emergence of mass production methods.
The size of the automotive gears market is foreseen to witness substantial growth in the ensuing years, escalating to a market value of $58.67 billion by 2029 with a 7.7% compound annual growth rate (CAGR). The surge during the projection period is accredited to changes in regulations and emission standards, the uptake of progressive manufacturing methods, global economic development and vehicle production, electric mobility, and eco-friendly transmissions, and the use of light and highly resilient materials. key trends during the forecast period encompass the demand for compact and effective gears, the shift to electrification, improvements in gearbox technology, emphasis on fuel efficiency and emissions, and the application of advanced materials.
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How Are Emerging Segments Shaping the Automotive Gears Market Landscape?
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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Which Growth Factors Are Influencing Automotive Gears Market Expansion?
The surge in vehicle manufacturing is likely to boost the expansion of the automotive gears industry. As automobile production grows, so will the need for automotive gears, which are known for improving product longevity and vehicle fuel efficiency. For example, the Indian Government's export promotion agency, IBEF (India Brand Equity Foundation), suggests that the value of the Indian automobile sector (including component production) could range from $251.4 to $282.8 billion by 2026. After recuperating from the COVID-19 pandemic's impact, the Indian auto industry is poised to see significant growth in 2021-22. According to a report by the UK-based auto industry, SMMT Driving the Motor Industry, in January 2024, the UK saw a 48.0% increase in the production of battery electric (BEV), plug-in hybrid (PHEV), and hybrid (HEV) vehicles to 346,451 units, making up nearly two fifths (38.3%) of total output. Hence, a rise in vehicle production bolsters the growth of the automotive gears market.
Who Are the Dominant Players Across Different Automotive Gears Market Segments?
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
What Are the Latest Developing Trends in the Automotive Gears Market?
The automotive gears market is growing, and to stay in pace with technological progression, fresh tendencies in the field are cropping up. For instance, in April 2024, a company from the Netherlands known as Stellantis N.V., which designs, engineers, manufactures, distributes, and sells vehicles under 14 different brands, kick-started the production of electrified dual-clutch transmissions (eDCTs). These are designed with the intention to reduce CO2 emissions by up to 20% compared to typical combustion engines with automatic transmissions. The eDCT involves an integrated 21 kW electric motor, which enables vehicular function in pure electric mode during slow-speed driving. This specification significantly cuts down fuel usage and curbs pollutant emissions. The setup also traps kinetic energy while braking and when the vehicle slows, storing it in a featherweight battery to be reused at the time of acceleration, thus maximizing the efficiency of the energy consumed.
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Which Geographic Regions Are Expected to Dominate the Automotive Gears Market in the Coming Years?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Gears Market?
2. What is the CAGR expected in the Automotive Gears Market?
3. What Are the Key Innovations Transforming the Automotive Gears Industry?
4. Which Region Is Leading the Automotive Gears Market?
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