Automotive Transmission Market Size To Grow USD 115.43 Billion By 2030, CAGR of 6.2%

New York, May 10, 2023 (GLOBE NEWSWIRE) -- Consegic Business Intelligence has published a new research report title Global Automotive Transmission Market By Type (Manual Transmission, Automatic Transmission, Automated Manual Transmission (AMT), Continuously Variable Transmission (CVT), Dual Clutch Transmission (DCT), and Tiptronic Transmission), Engine Type (IC Engine and Electric Engine), Vehicle Type Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles), and By Region, Forecast Period 2023 - 2030.

The Global Automotive Transmission Market is poised for significant growth, with Consegic Business Intelligence's research projecting a CAGR of 6.2% and market was worth USD 72.98 Billion in 2022 and is anticipated to reach over USD 115.43 Billion by the year 2030.

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The automotive transmission market refers to the industry that designs, develops, and produces transmissions for vehicles. The transmission is an essential component of a vehicle to transfer power from the engine to the wheels, enabling the smooth operation of the vehicle. The global automotive transmission market is anticipated to grow significantly during the forecast period, driven by factors such as the increasing demand for fuel-efficient vehicles, advancements in technology, and the rising popularity of electric vehicles. Consequently, transmission plays a critical role in the operation of a vehicle and is essential for ensuring the vehicle's performance, efficiency, and safety.

The advancement in technology such as the emergence of dual-clutch transmissions (DCTs) is a significant driver for the growth of the automotive transmission market. DCTs use two separate clutches, one for even gears and the other for odd gears, allowing for quicker and smoother gear shifts resulting in improved performance and fuel efficiency, particularly in high-performance vehicles and sports cars. Additionally, DCTs shift gears quickly, in less than 100 milliseconds that allows for more precise control over the engine's power delivery, resulting in improved acceleration and overall performance. For instance, in March 2022, Tata Motors launched the ALTROZ DCA with a Dual Clutch Automatic transmission to offer superior performance, fuel efficiency, and reliability. The integration of DCT technology enables fast gear changing that improves fuel efficiency and enhances the user experience.

The emergence of autonomous vehicles is expected to open up potential future opportunities for the automotive transmission market. Autonomous vehicles are projected to offer higher fuel efficiency compared to traditional vehicles, as autonomous vehicles are programmed to optimize driving behavior for maximum efficiency. However, strict government regulations on the use of IC vehicles and emission standards are the significant factors restraining the growth of the automotive transmission market.

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Key Market Highlights

• Asia Pacific is estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in automotive transmission.
• The market is geographically divided into five regions: Europe, South America, the Asia-Pacific, North America, and Middle East and Africa.
• Globally, Automotive Transmission is divided based on type into manual transmission, automatic transmission, automated manual transmission (AMT), continuously variable transmission (CVT), dual-clutch transmission (DCT), and tiptronic transmission.
• In the context of Engine Type, the market is separated into IC Engine and Electric Engine.
• On the basis of Vehicle Type, the market is categorized into passenger cars, light commercial vehicles, and heavy commercial vehicles

Automotive Transmission Market Growth Drivers

• Advancements in the technology of automotive transmission such as electrification are the key factor driving the growth of the market.
• The growing demand for fuel-efficient vehicles is also contributing significantly to promoting the growth of the market.
• The increasing demand for electric and hybrid vehicles that require advanced transmissions such as continuously variable transmissions (CVTs) is also accelerating the market growth.

Restraints:-

• Strict government regulations on the use of IC vehicles and emission standards function as a major factor restraining the growth of the automotive transmission market.
• The push towards zero-emission vehicles is reducing the demand for traditional transmissions, hindering the growth of the automotive transmission market.

Opportunity:-

• The development of autonomous vehicles is anticipated to create potential future opportunities for the automotive transmission market.

Global Automotive Transmission Market Segmentation Details:

Based on Type, the manual transmission segment contributed to the largest shares in the market growth for the year 2022. Manual transmissions offer greater control over the vehicle and provide drivers with the ability to choose the gear ratio that best suits their driving style, resulting in a more immersive driving experience. Additionally, manual transmissions are more fuel-efficient than automatic transmissions and offer better durability and reliability, thereby driving the growth of the manual automotive transmission market.

Based on Engine Type, the market is bifurcated into IC Engine and Electric Engine. IC engine dominates the market and accounts for the largest revenue share in the year 2022. IC engines are relatively simple and affordable to manufacture along with providing good performance and versatility. IC engines are designed to meet the specific requirements of a wide range of vehicles, from small cars to heavy-duty trucks, and are adapted to run on a variety of fuels, including gasoline, diesel, and natural gas. Additionally, IC engines have a proven record of reliability and durability that contributes significantly to drive the growth of the automotive transmission market.

Based on Vehicle Type, passenger cars dominate the automotive transmission market in 2022 and are also expected to witness the fastest CAGR during the forecast period. Passenger cars are used for personal transportation and are designed to offer a comfortable, convenient, and pleasant driving experience. Further, passenger cars require a variety of transmission options to meet different performance requirements, driving conditions, and customer preferences. For instance, a difference in the preference of the driver, few prefer manual transmissions for engagement and control, while others prefer automatic transmissions for convenience and ease of use.

Based on region, Asia Pacific accounts for the largest revenue share of the market growth in 2022 and is also expected to witness the fastest CAGR during the forecast period. The automotive industry in the Asia Pacific region is known for its high degree of manufacturing efficiency and cost competitiveness that has enabled the region to become a leading producer and supplier of vehicles and components worldwide. Additionally, manufacturers are also investing heavily in research and development to create advanced technologies and manufacturing capabilities to maintain the market position and drive the growth of the automotive transmission market.

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Recent Developments

• In June 2022, Maruti Suzuki launched Brezza with a 6-speed automatic transmission and paddle shifters to offer a smoother and more convenient driving experience, especially in heavy traffic.
• In July 2021, Ford launched the Figo with an automatic transmission to provide a more convenient driving experience and a smoother ride.

List of Major Global Automotive Transmission Market Players

The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —

• Suzuki Motor Corporation
• ZF Friedrichshafen AG
• Hyundai Motor Company
• Eaton Corporation plc
• Tata Motors Limited
• Lotus Cars Limited
• Magna International Inc.
• JATCO Ltd
• Aisin Seiki Co., Ltd.
• Allison Transmission, Inc.

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some chapters from Table Of Content (TOC):-

1. 1) Introduction
   1. 1.1 Market Introduction
   2. 1.2 Market Research Methodology
      1. 1.2.1 Research Process
      2. 1.2.2 Primary Research
      3. 1.2.3 Secondary Research     
      4. 1.2.4 Data Collection Technique      
      5. 1.2.5 Data Sources     
   3. 1.3 Market Estimation Methodology
      1. 1.3.1 Limitations of the Study
   4. 1.4 Global Automotive Transmission Market: Classification
   5. 1.5 Geographic Scope 
   6. 1.6 Years Considered for the Study 
   7. 1.7 Research Methodology in brief  
   8. 1.8 Parent Market Overview
   9. 1.9 Overall Automotive Transmission Market Regional Demand        
   10. 1.10 Research Programs/Design       
   11. 1.11 Market Breakdown and Data Triangulation Approach        
   12. 1.12 Data Source
   13. 1.13 Secondary Sources
   14. 1.14 Primary Sources   
   15. 1.15 Primary Interviews
   16. 1.16 Average primary breakdown ratio       
2. 2) Market Dynamics
   1. 2.1 Drivers
      1. 2.1.1 Technological advancements in automotive transmission
      2. 2.1.2 Increasing demand for fuel-efficient vehicles
   2. 2.2 Restraints
      1. 2.2.1 Stringent government regulations associated with IC vehicles
   3. 2.3 Opportunity
      1. 2.3.1 Increasing adoption of autonomous vehicles
      2. 2.3.2 Impact forces on market dynamics  
      3. 2.3.3 Impact forces during the forecast years 
   4. Continiues...
      

Key Questions Covered in the Automotive Transmission Market Report

• What is automotive transmission ?
  
  - Automotive transmission is a mechanical component in a vehicle that transmits power from the engine to the wheels, enabling the vehicle to move. The transmission works by converting the rotational power generated by the engine into torque, which is then used to turn the wheels.

• Based on current market trends and future predictions, which geographical region will have the largest impact on the automotive transmission market's growth in the coming years?
  
  -According to the current market trends and future predictions, Asia Pacific will have a major impact on the growth of the automotive transmission market owing to the expanding automotive industry. Also, the region encompasses key players that constantly develop advanced technologies and also supply transmission components to international automakers.

• What specific segmentation details are covered in the automotive transmission market report, and how do each dominating segment is influencing the demand globally?
  
  -The report consists of segments namely Type, Engine Type, and Vehicle Type. Each segment consists of a dominating sub-segment segment fuelled by industry trends and drivers. For instance, By Type, manual transmission accounts for the largest market share owing to improved performance and fuel efficiency.

• What specific segmentation details are covered in the automotive transmission market report, and how is the fastest segment anticipated to impact the market growth?
  
  -As aforementioned, each fastest segment is influencing the demand globally due to growing industrial needs. For instance, By Engine Type, electrical engines sub-segment is anticipated to witness the fastest CAGR growth during the forecast period offering several benefits including reduced emissions, improved fuel efficiency, and lower operating costs.

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