Automatic Transmission Market to Surpass US$ 90 Bn by 2026

Transparency Market Research has published a new report titled, “Global Automatic Transmission Market [Transmission Type: Automatic Transmission (AT), Automated Manual Transmission (AMT), Continuously Variable Transmission (CVT) and Dual Clutch Transmission (DCT); Vehicle Passenger Vehicle, Commercial Vehicle] – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.” According to the report, the global automatic transmission market is projected to surpass US$ 90 Bn by 2026, expanding at a CAGR of above 3% during the forecast period.

According to the report, the global automatic transmission market is likely to be driven by a range of macroeconomic and industry-specific factors. Asia Pacific is expected to be at the forefront of global demand, with the market in the region expanding at a CAGR of 3.86% between 2018 and 2026.

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An automotive transmission ensures smooth shifting of gears in a vehicle to transfer torque generated by the engine to drive the vehicle. Automatic transmission consists of sensors and actuators that change gears at different speeds smoothly without the intervention of the driver. Automatic transmission offers a leisurely driving experience and hence, automatic transmission is gaining popularity among consumers and auto manufacturers. The types of transmissions available include continuously variable transmission (CVT) and automated manual transmission (AMT). Regulatory bodies in different regions have enacted rigid standards regarding emission, which is expected to boost the demand for automatic transmission during the forecast period. Rising demand for fuel-efficient vehicles and quality driving experience from consumers is anticipated drive the automatic transmission market during the forecast period.