Portland, OR, Sept. 22, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global transmission control system market garnered $36.30 billion in 2018, and is anticipated to generate $58.61 billion by 2026, growing at a CAGR of 6.3% from 2019 to 2026.
Rise in demand for automatic transmission in vehicles and Increase in trend of autonomous vehicles propel the growth of the global transmission control system market. However, high cost of transmission control system impedes the market growth. Moreover, production of active shift control transmission is expected to create new opportunities in the market.
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COVID 19 Scenarios of Transmission Control System:
- The global lockdown due to novel corona virus has shuttered complete automotive manufacturing industry. In addition, China being one of the major hubs of automotive accessories provider, have been affected by the pandemic more severely.
- On the other hand, due to the precautionary measures taken by the governments all over the world, the market has observed disruption in supply chain. In addition, the market has also witnessed decline in demand.
Get Detailed COVID-19 Impact Analysis on the Transmission Control System Market Request Now!
Based on installation, the integrated segment held more than half of the total share of the global transmission control system market in 2018, and is expected to continue its lead position during the forecast period. However, the stand-alone segment would witness the highest CAGR of 7.1% from 2019 to 2026.
Based on vehicle type, the passenger vehicle segment held the largest market share of the global transmission control system market in 2018, accounting for nearly two-third of the total share, and will maintain its leadership position in terms of revenue throughout the forecast period. However, the electric vehicle segment is estimated to register the fastest CAGR of 14.9% from 2019 to 2026.
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Based on region, Asia-Pacific contributed to the highest market share in terms of revenue, contributing to more than two-fifths of the global transmission control system market in 2018, and is estimated to continue its dominant share during the forecast period. In addition, the region is estimated to witness the highest CAGR of 7.6% from 2019 to 2026.
Key market players in the report include EATON, ZF Friedrichshafen AG, Delphi Technologies, Infineon Technologies AG, Robert Bosch GMBH, DENSO Corporation, Dana Limited, Allison Transmission Inc., Borgwarner Inc., and Continental AG.
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