Automotive Transmission Market: Structure and Overview of Key Market Forces Propelling Market

The global automotive transmission market is largely consolidated in terms of its vendor landscape, partly owing to the presence of very few manufacturers that solely operate in the field and the preference of several leading auto-makers to in-house manufacturing of transmission systems in collaboration with some tier-I companies, observes Transparency Market Research in a recent report. This has led to a scenario wherein other transmission system manufacturers are left with very little scope of expansion. For sustainable returns, companies could benefit from strategic alliances with leading auto-makers. Some of the leading players in the market are Eaton Corporation, Continental AG, Allison Transmission, ZF Friedrichshafen AG, Borg Warner, Magana International Inc., JATCO, and Aisin Seiki.

According to the report, the global automotive transmission market was valued at US$30.02 bn in 2016 and is projected to rise to US$53.20 bn by 2025, registering a CAGR of 6.6% from 2017 to 2025.

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Manual Transmission Continues to Remain Most Preferred Owing to Low Cost

In terms of the type of transmission chiefly used in automobiles, namely manual and automatic, the segment of manual transmission is presently the clear leader. Low cost of vehicles with manual transmission, well-established market for manual transmission vehicles, and lack of awareness among consumers regarding the vast benefits of automatic transmission have worked in favor of the manual transmission segment so far.

Geographically, the rising uptake of passenger vehicles across emerging economies such as India and China, the market for automotive transmission in Asia Pacific is likely to emerge as the most lucrative one. The market in North America is also expected to exhibit a promising pace of expansion owing to the demand for vehicles with advanced transmission systems.