Automotive Transmission market Size 2023
global automotive transmission market was valued at USD 177.3 Bn in 2023. It is projected to grow to USD 279.86 bn in 2032, at a CAGR of 5.2% 2023-2033
NEW YORK,CITY, NEW YORK, UNITED STATES, January 10, 2023 /EINPresswire.com/ — The global automotive transmission market was valued at USD 177.3 Billion in 2023. It is projected to grow to USD 279.86 billion in 2033, at a compound annual rate (CAGR of 5.2%) between 2023 and 2033.
Over the next few years, the Automotive Transmission Market will be driven by the rising demand for user experience, fuel-efficient vehicles, and smooth shifting of the gear. Global Automotive Transmission Market provides an in-depth analysis of the market. The report’s market outlook section focuses on the market dynamics, which include drivers, restraints, and opportunities.
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Growing Demand:
Automotive transmissions offer a number of benefits to users. These include smooth driving and quick acceleration. It is also more efficient than manual transmissions and consumes less fuel. The advantages of an automotive transmission include the ability to achieve maximum speed at low engine speeds. This results in fuel savings and an efficient plowing drive that does precise work at the power takeoff.
The growth in passenger cars and light commercial vehicles is driving the automotive transmission market. There are also growing demands for fuel-efficient vehicles as well as a desire by consumers for a more comfortable driving experience. The automotive transmission market has seen significant growth due to strict regulatory standards in North America and Europe. However, high-end transmission systems are a major obstacle to market expansion.
Rapid technological advancements in automotive transmission manufacturing are expected to aid the automotive transmission market growth.
The market will be driven by the increasing adoption of Continuously Variable Transmission (CVT), Dual-clutch Transmission, and DCT technologies. This is due to the growing demand for zero-emission products that have higher performance. The Asia-Pacific region, including China and India, is also experiencing significant growth.
Driver:
Lightweight transmission systems are in high demand
OEMs are being forced to use lightweight components due to government regulations regarding safety and carbon emissions. The OEMs are under constant pressure to lower the emission levels of automobiles. Consumers in developed countries are more likely to purchase modern, fuel-efficient, environmentally-friendly vehicles with lower emissions and better performance. Six legislations (Euro 1 through Euro 6) have reduced the permissible NOx emissions of a diesel vehicle ten times. New emission norms, known as Euro 7, are currently being developed and will likely be implemented by 2025. These requirements can be met by lightweight cars. To further reduce the overall vehicle’s weight, manufacturers are focusing heavily on the weight reduction of individual parts.
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Restraint:
Adoption and maintenance of advanced transmission systems is expensive.
DCT and CVT transmissions have higher installation costs than conventional systems. These systems have yet to be accepted in the small-car market, which accounts for a large portion of the global passenger vehicle market. Manufacturers are unable to access the Asia-Pacific market due to the high cost of transmission systems. This is a significant region for automobile production. This is due to consumers’ preference for performance over cost-effectiveness. These systems are more expensive than the initial vehicle cost. This has limited their market share in countries where comfort and efficiency are more important. Companies must continue to invest in R&D to develop these transmission systems at a lower price for small cars.
Key Market Segments:
Type
MT
AT
AMT
CVT
DCT
Application
Passenger Vehicle
Commercial Vehicle
Key Market Players included in the report:
ASIN
ZF
Jatco
Getrag
Volkswagen
Honda
MOBIS
Magna
SAIC
GM
Chongqing Tsingshan
Allison Transmission
Continental
Zhejiang Wanliyang
Borgwarner
Eaton Corporation
Key Market trends:
Manufacturers are focusing on developing advanced automatic transmissions
German supplier ZF has developed an 8-speed automatic transmission. This company was primarily focused on increasing fuel efficiency through lightweight technology. The new gear set design includes four planetary gear sets with five shift elements. This reduces drag and increases transmission efficiency. Optional hydraulic impulse oil storage (HIS), which allows for a start/stop function can help increase fuel efficiency. The new hybrid-compatible automatic transmission can be used with all AWD diving concepts including AWD center differential integrated and integrated AWD system as well as hang-on AWD.
ZF produces 3.5 million units annually of its 8-speed auto transmission for Aston Martin FCA, JLR, and the Volkswagen group. BMW awarded ZF a $1 billion contract in 2019. ZF will supply the latest 8-speed version of its automatic transmission to a BMW series of cars that could be launched in 2022.
The demand for commercial transmissions is also expected to rise as the logistics sector recovers its momentum. ZF announced in February 2021 a USD 200 million investment in transmission manufacturing for commercial vehicles to meet the increasing demand in North America. ZF will begin manufacturing its PowerLine 8-speed automatic transmission in Gray Court in South Carolina in 2023. This will create 500 jobs in the United States. ZF is also exploring the possibility of producing this technology in China and the United States. These countries have high shares of automatic passenger vehicles.
Recent Developments
ZF announced in September 2021 that it had placed a large volume order of several billion euros for the supply of 8HP variants (8HP) of its fourth-generation 8-speed transmission (8HP).
In September 2021, Dongfeng Citroen, a brand of Dongfeng-Peugeot-Citroen Automobile Co., Ltd. (DPCA), launched its all-new C5 X luxury crossover paired with an Aisin 8-speed automated manual transmission (AMT)
Jatco Ltd. revealed in July 2021 that it had created the CVTX, a new CVT that is suitable for large FWD vehicles. It improves environmental performance and driving comfort. It has overcome the 90% transmission efficiency barrier, which is considered to be a major challenge for CVTs.
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