Pune, India, April 25, 2022 (GLOBE NEWSWIRE) -- The global automotive transmission market size is projected to grow from USD 96.98 billion in 2021 to USD 146.57 billion in 2028. The increasing adoption of innovatively advanced, superior, and robotic vehicles is attracting the attention of younger populations worldwide. Hence, several manufacturers are producing environmentally-friendly transmission systems to fulfil the high demand. Fortune Business Insights™ published this information in a report, titled, “Automotive Transmission Market, 2021-2028.” The report further states that the automotive transmission market stood at USD 91.48 billion in 2020. It is set to exhibit a CAGR of 6.08% in the forecast period between 2021-2028.
Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/automotive-transmission-market-105272
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast Period 2021 to 2028 CAGR | 6.08% |
| 2028 Value Projection | USD 146.57 billion |
| Base Year | 2020 |
| Market Size in 2021 | USD 96.98 billion |
| Historical Data for | 2017-2018 |
| No. of Pages | 200 |
| Segments covered | IC Engine and Electric |
| Growth Drivers | Expansion of the Logistics Industry to Accelerate Growth |
| Asia Pacific Earned USD 51.62 Billion Revenue in 2020: Fortune Business Insights™ |
Increasing Blockages of Ports to Hinder Assembling of Vehicles amid COVID-19 Pandemic
The COVID-19 pandemic has resulted in the sudden halt of automotive production because of the unavailability of crucial parts, such as engines, braking, interior components, lighting, and electrical parts. It has also disturbed the supply chain of a large number of firms as most of these parts are exported from China. Additionally, the assembling of vehicles is getting affected on account of the blockages at ports and postponement of orders. These factors are anticipated to hinder the demand for automotive transmission systems amid the pandemic.
Click here to get the short-term and long-term impacts of COVID-19 on this Market. Please visit: https://www.fortunebusinessinsights.com/automotive-transmission-market-105272
Drivers & Restraints-
Expansion of the Logistics Industry to Accelerate Growth
Improvements in road infrastructure and rapid industrialization & urbanization are gradually augmenting the logistics industry. At the same time, the expansion of the mining, construction, and IT industries worldwide is surging populations, which, in turn, is driving the demand for commercial vehicles. The automatic manual transmission contains a dual slant that would enable the driver to switch to the manual transmission system or customize the automatic transmission as per their requirement. It would help contribute to the automotive transmission market growth in the near future. However, conventional vehicles cause air pollution owing to the emission of toxic gases in the atmosphere. It may impact the demand for automotive transmission systems.
Report Coverage-
The report involved four notable activities in projecting the current market size. Exhaustive secondary research was conducted to gather data influencing the automotive transmission industry. Our next step included primary research to validate these sizing and assumptions with multiple experts. We have also used bottom-up and top-down approaches to compute the market size.
Quick Buy - Automotive Transmission Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/105272
Segmentation-
Automatic Transmission Segment to Grow Rapidly Backed by Rising Usage of Passenger Cars
By type, the market is classified into manual transmission, automatic transmission (AT), automated manual transmission (AMT), and others (CVT, DCT). Out of these, the automatic transmission segment procured 51.5% in terms of share in 2020 because of the increasing demand for passenger cars across the globe. The others segment generated 6.9% in 2020 in terms of the automotive transmission market share. This growth is attributable to the surging adoption of transmissions in hybrid vehicles.
Regional Insights-
Asia Pacific Earned USD 51.62 Billion Revenue in 2020: Fortune Business Insights™
Regionally, Asia Pacific held USD 51.62 billion in 2020 in terms of revenue. China is considered to be the major growth contributor fueled by the rising production of automotive transmission systems in this country. Europe is likely to show considerable growth because of the surging sales of electric vehicles. North America, on the other hand, would exhibit healthy growth owing to the increasing mining and transportation activities in this region.
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/automotive-transmission-market-105272
Competitive Landscape-
Key Companies Aim to Compete with Their Rivals through Collaborations & Joint Ventures
The global market for automotive transmission is fragmented with the presence of numerous companies. Most of them are striving persistently to compete with their rivals through partnerships and joint ventures. Out of all, Magna International Inc. is a leading firm that provides innovative mobility solutions for almost every vehicle. Below is one of the industry developments:
- December 2020: Magna International Inc and LG Electronics Inc introduced a joint venture named LG Magna e-Powertrain worth USD 1 billion. It would manufacture major components required for electric cars, such as onboard chargers, inverters, and e-motors. It would also broaden the consolidation among suppliers focusing on capturing the market for e-axle systems and electric vehicles.
List of the Key Companies Profiled:
- Aisin Seiki Company ltd. (Kariya, Aichi, Japan)
- Borgwarner Inc. (Auburn Hills, Michigan, United States)
- Eaton Plc. (Dublin, Ireland)
- ZF TRW (Ohio, United States)
- Magna International Inc., (Aurora, Canada)
- Continental AG (Hanover, Germany)
Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments - Merger, Acquisitions, and Partnerships
- Porter’s Five Forces Analysis
- SWOT Analysis
- Technological Developments
- Value Chain Analysis
- Impact of COVID-19 on Electric Bus Market
- Global Electric Bus Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
Continued…
Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/automotive-transmission-market-105272
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Attachment
