Press release
Rising Vehicle Production Fuels Growth In The Automotive Gear Market Emerges as a Core Driver of the Automotive Gears Market in 2025
Automotive Gears Market
Automotive Gears Market Size Growth Forecast: What to Expect by 2025?
There has been a significant growth in the automotive gears market in the past few years. The market, which was worth $40.39 billion in 2024 is projected to rise to $43.56 billion in 2025 at a compound annual growth rate (CAGR) of 7.9%. The expansion during the historical phase can be associated with the industrial revolution and increasing demand for machinery, the development of the automotive industry, advancements in gear designs and materials, the effect of global conflicts on the automotive sector, and the advent of mass production methods.
How Will the Automotive Gears Market Size Evolve and Grow by 2029?
The market size for automotive gears is predicted to exhibit robust growth in the forthcoming years, anticipated to climb to $58.67 billion in 2029 with a compound annual growth rate (CAGR) of 7.7%. The projected augmentation in this sector in the forecast period can be ascribed to factors such as legislative changes and emissions regulations, deployment of innovative manufacturing techniques, a globally expanding economy and automobile production, as well as a shift towards electric mobility and sustainable transmissions, and the use of lightweight and high-strength materials. Key tendencies predicted during the forecast period encompass an increased demand for compact and efficient gears, a move towards electrification, breakthroughs in gearbox technology, a concentrated emphasis on fuel efficiency and emissions, and the utilization of advanced materials.
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What Drivers Are Propelling the Growth of Automotive Gears Market Forward?
The upswing in vehicle production is set to fuel the expansion of the automotive gears market. As vehicle production escalates, the need for automotive gears will simultaneously rise due to their benefits in improving product longevity and vehicle fuel efficiency. For example, IBEF (India Brand Equity Foundation), a government export promotion agency in India, anticipates the valuation of the entire Indian automobile industry, including component production, to be around $251.4 and $282.8 billion by 2026. After bouncing back from the COVID-19 pandemic impacts, a swift upturn is expected in the Indian automobile industry in 2021-22. Likewise, another instance in January 2024, as per a report by SMMT Driving the Motor Industry, a UK-based automotive industry, it was recorded that the production of battery electric (BEV), plug-in hybrid (PHEV), and hybrid (HEV) vehicles in the UK spiked to 346,451 units, a year-on-year increase of 48.0% that represented almost two fifths (38.3%) of total output. Thus, this surge in vehicle production contributes positively to the growth trajectory of the automotive gears market.
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Which Emerging Trends Are Transforming the Automotive Gears Market in 2025?
The expansion of the automotive gears market has prompted emerging trends within the industry to keep pace with technological progression. Stellantis N.V., a company in the Netherlands that encompasses 14 brands, entered into the production of electrified dual-clutch transmissions (eDCTs) in April 2024. This groundbreaking system aims to lower CO2 emissions by up to 20% compared to conventional automatic combustion engines. The eDCT incorporates a 21 kW electric motor that supports the vehicle in functioning entirely on electricity during slower drives, reducing both fuel intake and emissions. Further, this system harnesses kinetic energy from braking and deceleration, preserving it in a compact battery for reuse when accelerating, therefore amplifying energy efficiency.
What Are the Key Segments in the Automotive Gears Market?
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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Who Are the Key Players Shaping the Automotive Gears Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth in the Automotive Gears Market?
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.
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