Dublin, June 02, 2023 (GLOBE NEWSWIRE) -- The "Automotive Gears Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the market.
The global automotive gears market grew from $34.71 billion in 2022 to $37.08 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The automotive gears market is expected to grow to $47.9 billion in 2027 at a CAGR of 6.6%.
Major players in the automotive gears market are GKN plc, Showa Corporation, ZF TRW, Bharat Gears Limited, IMS Gear, RSB Transmissions Ltd., Robert Bosch GmbH, ZF Friedrichshafen AG, GKN plc, Univance Corporation, American Axle & Manufacturing Holdings Inc., Dupont, Eaton, NSK Ltd., Linamar Corporation, Mitsubishi Group, Dana Holding Corporation, Altra Industrial Motion Corporation, Neapco Inc., Cone Drive, Dynamatic Technologies Limited, Franz Morat Group, Taiwan United Gear Co. Ltd., Universal Auto Gears LLP, Gleason Plastic Gears, AmTech International and AAM.
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An automotive gear refers to a spinning device with teeth that transmits torque by meshing with another toothed machine part or gear because of its ability to modify torque, speed, and direction of the power source. Gears are regarded as a key component in an automobile system that is used in various systems in automobiles.
The main vehicle types of automotive gears market are passenger cars and commercial vehicles. The commercial car uses automotive gears that are designed to transport more than 15 people. A passenger car uses gears to transfer power from the crankshaft (the rotating axle that receives power from the engine) to the driveshaft, which then powers the wheels. These can be of various material types such as non-metallic gears and metallic gears.
The automotive gear market consists of various products which are parallel shaft gears, spur gears, helical gears, rack and pinion gear, intersecting shaft gear, bevel gears, skew shaft gear, hypoid gear, worm gear, planetary gears. These products are used in applications such as transmission systems, steering systems, differential systems, and other systems.
As the automotive gears market expands, new developing trends in the sector are emerging to keep up with the technological advancements surrounding the market. For instance, in 2021 Swiss gear technology company, Humbel's high-precision gear technology one of the leading innovations in gearboxes and transmissions company has designed prototyping for individual special components like internal (ring gears) delivered in the form of flexible, fast, and reliable services that are used in things like e-axels and e-gears in the E-automotive vehicles.
In February 2022, US based private equity company, MidOcean Partners acquired Cloyes for an undisclosed amount. Through this acquisition, MidOcean accelerates its growth in the auto aftermarket space and brings Cloyes into the portfolio of best-in-class auto aftermarket products and services MidOcean has invested. Cloyes is a North American designer, developer, manufacturer and distributor of timing drive systems and engine components for original equipment manufacturers and the automotive aftermarket.
The Asia-Pacific was the largest region in the automotive gears market in 2022. The Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in ththe automotive gears market is report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the automotive gears market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA.
Increasing vehicle production is expected to propel the growth of the automotive gears market. With the rise in vehicle production, the demand for automotive gears will increase as it provides enhanced product durability and vehicle fuel efficiency.
For instance, according to IBEF (India Brand Equity Foundation), an Indian Government export promotion agency, by 2026, the Indian automobile sector (including component production) is predicted to be worth between $251.4 and $282.8 billion. After recovering from the effects of the COVID-19 pandemic, the Indian auto sector is predicted to rise rapidly in 2021-22. Therefore, an increase in vehicle production drives the growth of automotive gears.
The automotive gears market consists of sales of torque converter, planetary gear set, output shaft, and clutch packs. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $37.08 billion |
| Forecasted Market Value (USD) by 2027 | $47.9 billion |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Automotive Gears Market Market Characteristics
3. Automotive Gears Market Market Trends And Strategies
4. Automotive Gears Market - Macro Economic Scenario
4.1 COVID-19 Impact On Automotive Gears Market
4.2 Ukraine-Russia War Impact On Automotive Gears Market
4.3 Impact Of High Inflation On Automotive Gears Market
5. Automotive Gears Market Market Size And Growth
5.1. Global Automotive Gears Market Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Automotive Gears Market Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Automotive Gears Market Market Segmentation
6.1. Global Automotive Gears Market Market, Segmentation By Material Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Non- Metallic Gears
- Metallic Gears
6.2. Global Automotive Gears Market Market, Segmentation By Vehicle, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Passenger Car
- Commercial Vehicles
6.3. Global Automotive Gears Market Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Parallel Shaft Gears
- Spur Gear
- Helical Gear
- Rack and pinion Gear
- Intersecting shaft gear
- Bevel gear
- Skew shaft gear
- Hypoid Gear
- Worm Gear
- Planetary Gears
6.4. Global Automotive Gears Market Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Transmission System
- Steering System
- Differential System
- Other System
7. Automotive Gears Market Market Regional And Country Analysis
7.1. Global Automotive Gears Market Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Automotive Gears Market Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/2ww3xi
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