Technological Advancements to Influence Automatic Gearbox Market Growth 2017-2025

Owing to the technology, even small entities have become automatic in today’s scenario. Gearboxes are a part of this change. Gearboxes are a major part of any automobile. With the availability of Automatic Gearbox, comfort and safety levels of the automobiles have increased. Gears of an automobile that can shift on their own, with the help of Automatic Gearbox are like a dream come true. Automatic Gearbox are gradually replacing the traditional manual gearboxes.

Market Overview:

High torque is required by the vehicle when it is started or while it is climbing a hill, even though these functions are performed at very low speeds. As opposed to that, when the vehicle is running at a very high speed on level roads, high torque is not required due to the momentum. Transmission box or gear box is a device that can change vehicle’s speed and torque according to the conditions on the road or as needed by the driver. Automatic Gearbox, also known as the automatic transmission or self-shifting transmission is a type of gear box that frees the driver from shifting the gears manually, and that automatically changes gear ratios as the vehicle moves. Manual gearbox (with clutch) and Automatic Gearbox (with torque converters) work in totally different ways but accomplish the same thing. The parent market of Automatic Gearbox Market is the Automotive Gearbox Market. It is estimated that the Automatic Gearbox Market will grow at a high CAGR during the forecast period 2017 to 2025.

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Market Dynamics

One of the major drivers of the Automatic Gearbox Market is the enhanced and comfortable driving experience provided by the Automatic Gearbox as compared to the traditional ones. The smoothness in shifting gears even on congested roads is attracting consumers towards vehicles with Automatic Gearbox. As people are becoming aware and concerned about the environment, they are demanding for technologies that decrease the levels of carbon footprint. In many countries, the governments are making environmental regulations to decrease the level of pollution in the environment. These factors are forcing automobile manufacturers to incorporate parts in the vehicle keeping in mind the environment as well as the fuel efficiency of the vehicle. Automatic Gearbox is one of them. Excessive growth in the passenger cars segment of the automobiles in the recent years has also led to growth in the Automatic Gearbox Market. The growth in the market of the Hybrid Electric Vehicle (HEV) is a likely factor that can provide a boost to the Automatic Gearbox Market. With urbanization, the increase in the standard of living of the people and the increased disposable income, even the middle-range earning population is able to afford automobiles with luxuries such as Automatic Gearbox. Owing to all these factors, the Automatic Gearbox Market is estimated to grow at a very high CAGR during the forecast period from 2017 to 2021.

Trends in the Automatic Gearbox Market of the Europe and North America regions have shown significant growth rates in the recent years. People are approaching towards vehicles that are comfortable to drive as well as energy efficient.

Market Segmentation:

The Automatic Gearbox Market is segmented into four types based on the number of forward gears, fuel type, vehicle type and region.

On the basis of the number of forward gears type, the Automatic Gearbox Market is segmented into - above 10, 9 – 10, 7 – 8, 5 – 6, and less than 5.

On the basis of fuel type, the Automatic Gearbox Market is segmented into Diesel, and Gasoline.

On the basis of the vehicle type, the Automatic Gearbox Market is segmented into Electric Vehicles, Heavy Commercial Vehicles (HCV), Light Commercial Vehicles (LCV), and Passenger Cars. The growing market of commercial and passenger vehicles is a great opportunity for the Automatic Gearbox Market to flourish.

On the basis of the region type, the Automatic Gearbox Market is segmented into - North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific Except Japan (APEJ), Middle-East and Africa (MEA), and Japan.

Asia-Pacific region is estimated to have the highest growth rate in the Automatic Gearbox Market. Increase in the adoption of commercial vehicles in countries such as China and India are forcing automobile manufacturers to incorporate advanced features in automobiles. Gradually, Asia-Pacific region is being called automobile hub owing to increase in the production of passenger and commercial vehicles. Increase in the sale of automobiles in China is likely to boost the demand for Automatic Gearbox in these regions. Also, owing to high demand and significant vehicle production in China, China is estimated to show significant growth trend in the Automatic Gearbox Market. Governments of certain countries in Asia-Pacific region are urging people to buy automobiles with parts that are fuel efficient, as well as help in reducing the carbon footprint. These governments are also offering tax deductions and incentives on such vehicles.

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Key Players:

Some of the major players identified in the Automatic Gearbox Market include Aisin Seiki Co., Magna Powertrain, ZF Friedrichshafen AG, Jatco Ltd., Getrag Corporate Group, BorgWarner Inc., Eaton Corporation, Continental AG, Chongqing Tsingshan Industrial Co. Ltd., Volkswagen Aktiengesellschaft, Groupe Renault, and Hyundai Motor Company.

One of the major players of the Global Automatic Gearbox Market is the Hyundai Motor Company. The Hyundai Motor Company manufactures cars such as Hyundai Creta, and Hyundai Verna that come in variants with Automatic Gearbox.

Overall it can be concluded that the Global Automatic Gearbox Market is estimated to show significant growth trends. The comfortable driving experience provided by the Automatic Gearbox is a major factor that attracts the consumers towards automobiles with Automatic Gearbox.

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This release was published on openPR.