Press release
Emerging Trends Influencing The Growth Of The Automotive Transmission Market: Advanced Automotive Transmission To Provide Diverse Systems
Automotive Transmission
How Big Is the Automotive Transmission Market Size Expected to Be by 2034?
The automotive transmission market has seen strong growth in recent years. It is expected to increase from $131.61 billion in 2024 to $140.96 billion in 2025, with a CAGR of 7.1%. This growth is due to rising global automobile production, consumer preference for automatic transmissions, and growing investments in transmission technology.
The automotive transmission market is projected to grow, reaching $182.96 billion by 2029 at a CAGR of 6.7%. Growth is attributed to ongoing innovations in electric vehicle transmissions, rising demand for low-emission and fuel-efficient vehicles, expansion in emerging markets, and government incentives for green technologies. Major trends include the shift to hybrid and fully electric vehicle transmissions, the development of compact and lightweight transmission systems, and the integration of smart technologies.
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What Are the Emerging Segments Within the Automotive Transmission Market?
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 Long-Term Drivers Are Shaping Automotive Transmission Market Trends?
The increasing demand for electric and hybrid vehicles is expected to drive the growth of the automotive transmission market. These vehicles use a combination of electric propulsion and traditional engines to reduce emissions and increase fuel efficiency. Transmission systems are essential for managing power distribution in electric and hybrid vehicles, optimizing their performance. In 2023, global electric car sales rose by 35%, reflecting the growing demand for such vehicles and boosting the transmission market.
Who Are the Top Competitors in Key Automotive Transmission Market Segments?
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.
What Are the Latest Developing Trends in the Automotive Transmission Market?
Companies in the automotive transmission market are introducing advanced products with features like crawl mode and hill-start assistance to improve driving comfort and safety. In October 2023, ZF Group, a German company, launched the Transwin automatic transmission for medium and heavy-duty trucks in China. The system offers 9-speed and 6-speed variants with crawl mode and hill-start assistance, ensuring precise gear shifts and optimal performance in various driving conditions.
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Which Regions Are Becoming Hubs for Automotive Transmission Market Innovation?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Transmission Market?
2. What is the CAGR expected in the Automotive Transmission Market?
3. What Are the Key Innovations Transforming the Automotive Transmission Industry?
4. Which Region Is Leading the Automotive Transmission Market?
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