According to a new market report published by
Lucintel, the future of the global automotive transmission market looks promising
with opportunities in the passenger car, light commercial vehicle, and electric
vehicle markets. The global automotive transmission market is expected to reach
an estimated $526.1 billion by 2024 with a CAGR of 13.4% from 2019 to 2024. The
major drivers for this market are increasing vehicle production and growing
demand for lightweight transmission systems to enhance the driving experience.
In
this market, automatic and manual transmissions are used to transmit vehicle
engine power to driving wheels. On the basis of its comprehensive research,
Lucintel forecasts that the automatic transmission will remain the largest
segment and it also expected to witness the highest growth over the forecast
period. Shifting consumer interest from manual to automatic transmission is the
most disruptive trend due to ease of operation and low maintenance cost which
is driving the automatic transmission market.
By 2025, it is expected that electric CVTs and
AMTs with integrated electric motors will gain market share. There is a higher
demand for Dedicated Hybrid Transmissions (DHT); manufacturers who are
supplying these products can gain significant growth opportunities in the near
future. Different strategies adopted by independent manual transmission
suppliers to compete with the changing customer preferences towards automatic
transmissions are as follows:
- Development
of supplier-OEM or cross-OEM platform collaboration
- Innovation
for powerful actuator for clutch actuation
- Changes
in supply chain from an established in-house transmission part supply to external supply,
- Increasing
investment by suppliers to adopt necessary technology transfer in order to grow
production capabilities.
Within the global automotive transmission
market, passenger cars will remain the largest segment due to increasing demand
for compact, mid size, and luxury cars. Electric vehicle is expected to witness
the highest growth over the forecast period due to government initiatives to
promote the electric vehicles and increasing adoption of e-CVT (electric continuously
variable transmission) system.
Asia Pacific will remain the largest region
due to high vehicle production and increasing adoption of automatic
transmission in mid size and compact cars. Europe is expected to witness highest
growth over the forecast period because of rapidly
increasing demand for automatic transmissions in small, compact, and mid-size
cars.
Emerging
trends, which have a direct impact on the dynamics of the industry, include the
introduction of more efficient automatic transmission and increasing demand for
hybrid and dual clutch transmission. Aisin Seiki, Robert Bosch, ZF
Friedrichshafen, Continental, Magna, Eaton Corporation, GKN, Jatco, Borg
Warner, Schaeffler are the major manufacturers of automotive transmission.
Lucintel, a leading
global strategic consulting and market research firm, has analyzed growth
opportunities in the global automotive transmission market by vehicle type,
transmission type, engine type, and region. Lucintel has compiled a
comprehensive research report entitled “Growth
Opportunities in the Global Automotive Transmission Market 2019-2024: Trends,
Forecast, and Opportunity Analysis.”
The Lucintel report serves as a catalyst for growth strategy, as it provides
comprehensive data and analysis on trends, key drivers, and directions. The
study includes a forecast for the global automotive transmission market by
vehicle type, transmission type, engine type, and region as follows:
By Transmission Type [$B shipment analysis for
2013 – 2024]:
- Automatic
- Manual
By Vehicle Type [$B shipment analysis for 2013
– 2024]:
- Passenger Car
o
Compact Cars
o
Mid-Size Cars
o
Luxury Cars
o
SUVs
- LCV
- HCV
- Electric Vehicles
By Engine Type [$B shipment analysis for 2013
– 2024]:
- IC Engine
- Electric Vehicles
By Region [$B shipment analysis for 2013 – 2024]:
- North America
o
US
o
Canada
o
Mexico
- Europe
o
Germany
o
United Kingdom
o
France
o
Russia
- Asia Pacific
o
China
o
Japan
o
India
o
South Korea
o
Indonesia
- Rest of the World
o
Brazil
o
Argentina
This
256-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.
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About Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence services
to executives and key decision-makers in a variety of industries. For further
information, visit www.lucintel.com.
This
report answers following 11 key questions:
Q. 1 What
are some of the most promising, high-growth opportunities for the automotive transmission
market by vehicle type (Compact Cars, Mid-Size Cars, Luxury Cars, SUVs, LCV,
HCV, Electric Vehicles), transmission type (Automatic and Manual), engine type
(IC Engine and Electric Vehicle) and region (North America, Europe, Asia
Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which
region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the
key challenges and business risks in this market?
Q.5. What are the business risks and competitive
threats in this market?
Q.6. What are the emerging trends in this market
and the reasons behind them?
Q.7. What are some of the changing demands of
customers in the market?
Q.8. What are the new developments in the market? Which companies are
leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives
are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big
of a threat do they pose for loss of market share by material or product
substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has
its impact been on the industry?
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