New York, USA, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Market Overview:
The global automotive gears market size is projected to grow from USD 42.04 billion in 2024 to USD 57.39 billion by 2034, at a CAGR of 3.2%, according to a new report by Polaris Market Research.
An automotive gear is a gyrating part with teeth that traces with alternate toothed machine constituent and gear and transmits torque. Gears are an important component of the function of an automobile. They arrive in varied kinds, each with its particular function. For instance, the gearbox conveys power from the engine to the divergent, which assists the car move. Comprehending how automotive gears function is critical to driving securely and productively. By comprehending the varied kinds of gears as well as the operations they serve, one might be able to drive with conviction and productivity.
Key Insights from the Report:
- The market for automotive gears is significantly shaped by varied gear types such as spur gears, helical gears, bevel gears, and planetary gears are engaged relying on the vehicle type and arrangement systems.
- The automotive gears market segmentation is mainly based on application type, vehicle type, material type, gear type, and region.
- Based on application type, the differential system segment is expected to experience the highest CAGR during the forecast period.
- By region, the report provides market insights into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
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Automotive Gears Market Scope:
| Report Attributes | Details |
| Market size value in 2024 | USD 42.04 billion |
| Market size value in 2025 | USD 43.30 billion |
| Revenue forecast in 2034 | USD 57.39 billion |
| CAGR | 3.2% from 2025 to 2034 |
| Base year | 2024 |
| Historical data | 2020-2023 |
| Forecast period | 2025-2034 |
Market’s Growth Drivers:
Technological Progressions: The demand for automotive gears has escalated due to progressions in transmission technologies which enhance fuel efficiency, lesser discharge, and enhanced driving ease. The inventions in transmission technologies maximize power dissemination and sanction seamless gear shifts, causing superior vehicle performance. Further, the move towards electric vehicles has pushed the requirement for more productive, soundless, and weightless gear systems as EVs need particular gear arrangements to manage elevated torque without coming to terms with productivity, contributing to the automotive gears market growth.
Progression in Automotive Transmission Systems: Advancements in automotive transmission systems, especially in dual-clutch (DCT) and continuously variable transmissions (CVT), are notably driving the demand for elevated performance gears. DCT systems utilize two clutches to sanction speedier, seamless gear shifts, decreasing transformation times and improving productivity. This needs excessively accurate and resistant gears to manage elevated torque and momentum.
Stringent Fuel Efficiency Norms: Governments globally are growingly inflicting strict fuel efficiency and discharge directives. Such directives compel automakers to advance progressive gear technologies. For instance, the European Union established contemporary regulations to lessen carbon dioxide discharge, and the US EPA refurbished its fuel efficiency levels, needing a 15% curtailment in discharge from more economical trailers by 2030 as contrasted to 2025.
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List of Automotive Gears Market Key Players:
- American Axle and Manufacturing Holdings Inc.
- Bharat Gears Ltd.
- GKN Powder Metallurgy
- JTEKT Corporation
- Suzuki
- Robert Bosch GmbH
- Hitachi Astemo
- IMS Gear
- Univance Corporation
- Eaton
- Cummins Inc
Geographical Analysis:
Asia Pacific accounted for the largest automotive gears market share. This is due to speedy growth in automotive production and sales. The strong growth in the automotive sector has notably pushed the demand for several automotive constituents involving gears. There is a robust existence of electric vehicle manufacturers, improved technological potential in EVs, and progression in conveyance, steering, and differential congregation elements.
North America is also expected to grow at the highest CAGR during the forecast period. The region is flourishing due to a strong concentration on technological invention in automotive research and development, which causes progressions in gear technologies, particularly for EVs. The robust automotive industry, with surging disposable income and moving consumer inclinations, is pushing the demand for elevated presentation gear systems in vehicles.
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Market Segmentation:
By Application Type Outlook
- Transmission System
- Automatic Transmission
- Automated Manual Transmission
- Manual Transmission
- Dual-Clutch Transmission
- Differential System
- Steering System
- Other Automotive Applications
By Vehicle Type Outlook
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
By Material Type Outlook
- Metallic
- Non-Metallic
By Gear Type Outlook
- Planetary Gears
- Bevel Gears
- Rack and Pinion Gears
- Hypoid Gears
- Worm Gears
- Helical Gears
- Spur Gears
- Pinion Gears
By Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Vietnam
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
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