Automotive Transmission Market Projected to Witness a Double-Digit CAGR During 2019-2027

Automotive transmission provide different gears or drive ratios between the engine and drive wheels of an automotive vehicle. A major function of the automotive transmission is to enable the vehicle to accelerate from rest through a wide speed range, while the engine operates within its most effective range. The automotive transmission is a part of the power train of the vehicle. It ensures smooth shifting of gears in a vehicle for transferring torque generated by the engine to drive the vehicle. The automotive transmission is primarily of two types: automatic and manual. The basic difference between the manual and automatic transmission is that unlike manual transmission, automatic transmission does not require manual interference to shift the gear. In case of automatic transmission, the vehicle changes gears at different speeds without the control of a driver.

Increasing production volumes of both passenger as well as commercial vehicles is expected to drive the automotive transmission market during the forecast period. Increasingly stringent norms and regulations regarding reduced vehicular emissions and increased fuel efficiency that are laid down by the governments of various nations across the world are prompting manufacturers of passenger vehicles to develop advanced transmission system in order to ensure lower fuel consumption. This is anticipated to further boost the automotive transmission market for passenger vehicles in the next few years.

Increasing efforts for electrification of vehicles being taken by automotive OEMs as well as the governments of various countries across the world are creating a need for modification in the transmission system in order to cater to the requirements of electric vehicles. This is expected to restrain the automotive transmission market for passenger vehicles during the forecast period.

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Based on vehicle type, the automotive transmission market for passenger vehicles can be classified into electric vehicles and non-electric vehicles. The electric vehicles segment is anticipated to expand at a rapid pace during the forecast period owing to the rising awareness regarding increasing fuel efficiency, which is likely to offer promising opportunities for electrification of vehicles in the next few years.

Based on type of transmission, the automotive transmission market for passenger vehicles can be divided into manual transmission, continuously variable transmission (CVT), automated manual transmission (AMT), and automatic transmission. Manual transmission is not preferred in North America owing to the high rate of technology adoption and rising consumer preference for the usage of automated systems in vehicles in order to reduce human effort. Instead, automatic transmission is witnessing increasing popularity in North America.

CVT is equipped with one special gear, which is variable across all driving situations and can change effortlessly through a continuous range of effective gear ratios. The advantages offered by CVT include control over engine speed or rpm for accelerating or decelerating the car. The automated manual transmission (AMT) is the most preferred type of automotive transmission for passenger vehicles, and this trend is anticipated to continue during the forecast period. This is primarily ascribed to the fact that AMT is similar to manual transmission with the only difference being that it provides a facility to change gear without the need for the driver to manually press the clutch.

Based on geographical region, the automotive transmission market for passenger vehicles can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to hold a prominent share of the automotive transmission market for passenger vehicles during the forecast period owing to the increase in vehicle production in the region and the strong presence of key vehicle manufacturers in a few countries of Asia Pacific such as China, Japan, and South Korea.

Key players operating in the global automotive transmission market for passenger vehicles include Continental AG, ZF Friedrichshafen AG, Allison Transmission, Eaton Corporation, Borg Warner, Magana International Inc., Aisin Seiki, JATCO, Schaeffler AG, Hyundai Dymos, Bonfiglioli RIDUTTORI S.P.A., and Magneti Marelli S.p.A.

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