The growing demand for automatic transmission in entry-level vehicles in developing countries is boosting the global automatic transmission market. The adoption of advanced automotive transmission is witnessing a remarkable uptake as drivers prefer a smooth driving experience on congested roads due to poorly managed traffic. Additionally, the fuel efficiency brought about by technologically-advanced automotive transmission systems is also bolstering the market’s growth. The introduction of 9-speed automatic transmission has completely revolutionized the scenario global automotive transmission market; its impact will continue to be felt in the short term.
“Companies need to keenly focus on developing technologically sound products that deliver high performance,” says the lead author of the report. Products such as ZF’s novel 9-speed automatic transmission are a step in this direction. Such developments along with transmission systems that match up to the international quality standards will be the key strategies adopted by players during the forecast period to tread a progressive trajectory during the forecast period.
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The major factors driving the global automotive transmission market are the growing demand for automatic transmission systems in entry-level vehicles, and the lower emission of harmful gases and improved fuel efficiency due to the use of automatic transmission. In addition, the development of CVT technology in the automotive transmission market is one of the biggest opportunities that is expected to fuel the growth of the market. On the other hand, limited use of advanced transmission in volume markets and rising costs of advanced transmission systems are the major factors hampering the growth of the global automotive transmission market.
By transmission type, the global automotive transmission market has been classified into automatic and manual transmission. In 2014, the manual transmission segment accounted for the biggest share in the global market. The manual transmission segment is in high demand in many parts of Europe and Asia Pacific. Presently, these two regions collectively hold a 60% share in the global automotive transmission market. However, the automatic transmission segment is expected to gain traction owing to the changing preference from manual to automatic systems in the next few years. This trend is estimated to boost the demand for automatic transmission systems globally.
By fuel type, the global automotive transmission market has been categorized into diesel, gasoline, and others. In 2014, the gasoline segment accounted for the largest share in the global automotive transmission market. In the next few years, the diesel segment is projected to overtake gasoline as the dominant segment of the automotive transmission market. The others segment comprises fuel sources such as hybrid and electric vehicles. This segment is projected to grow significantly throughout the forecast period.
By industry application, the global automotive transmission market has been segmented into farm tractors, construction equipment, passenger cars, LCVs, HCVs, off road vehicle, ICVs, and defense vehicles. In 2014, the passenger cars segment led the global automotive transmission market.
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BorgWarner Inc., Continental AG, ZF Friedrichshafen, Aisin SEIKI Co. Ltd., Allison Transmission, and GKN PLC are the key players in the global automotive transmission market. Players will focus on investing in research and development activities to develop advanced automotive transmission systems that deliver never-seen-before fuel-efficiency and driving experience.
Global automotive transmission market expands at a CAGR of 5.9% between 2015 and 2021
Passenger cars segment estimated to reach US$81.5 mn by 2021, making it the leading segment
Asia Pacific automotive transmission market to emerge as key contributor, to exhibit CAGR of 6.6% 2015-2021