How much is the automotive transmission market worth, and how is it expected to expand?
The automotive transmission market size has grown strongly in recent years. It will grow from $131.61 billion in 2024 to $140.96 billion in 2025 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to growth in global automobile production, increasing consumer preference for automatic transmissions, government regulations on fuel efficiency and emissions, rising disposable incomes and improved living standards and rising investments in research and development for transmission innovations.
The automotive transmission market size is expected to see strong growth in the next few years. It will grow to $182.96 billion in 2029 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to continued innovation in electric vehicle (EV) transmissions, growing demand for fuel-efficient and low-emission vehicles, expansion of automotive industries in emerging markets, increased adoption of advanced driver-assistance systems (ADAS) and government incentives for the development of green technologies. Major trends in the forecast period include shift towards hybrid and fully electric vehicle transmissions, development of lightweight and compact transmission systems, integration of smart and connected transmission technologies, enhanced focus on transmission durability and performance and technological advancements in transmission systems.
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Which industry factors have accelerated the automotive transmission market’s expansion?
The increasing demand for electric and hybrid vehicles is expected to propel the growth of the automotive transmission market going forward. Electric and hybrid vehicles are automobiles that utilize electric propulsion systems, either exclusively or in combination with conventional internal combustion engines, to reduce emissions and increase fuel efficiency. There is a rising demand for electric and hybrid vehicles due to factors such as rising environmental awareness, government incentives, and advancements in battery technology. Automotive transmission systems are used in electric and hybrid vehicles to manage power distribution between electric motors, batteries, and internal combustion engines to optimize efficiency and performance. For instance, in April 2023, according to The International Energy Agency (IEA), a Europe-based autonomous intergovernmental organization, global electric car sales experienced a notable surge of 3.5 million units in 2023 compared to 2022, representing a substantial 35% year-on-year increase. Therefore, the increasing demand for electric and hybrid vehicles is driving the growth of the automotive transmission market.
What are the primary segments of the automotive transmission market?
The automotive transmission market covered in this report is segmented –
1) By Transmission Type: Manual Transmission, Intelligent Manual Transmission (IMT), Automated Manual Transmission (AMT), Automatic Transmission (AT), Dual-Clutch Transmission, Other Transmission Types
2) By Engine: Internal Combustion (IC) Engine, Electric Engine
3) By Fuel Type: Gasoline, Diesel, Other Fuel Types
4) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle, Electric Vehicle
Subsegments:
1) By Manual Transmission: 5-Speed Manual Transmission, 6-Speed Manual Transmission, 7-Speed Manual Transmission, Other Manual Transmission Variants
2) By Intelligent Manual Transmission (IMT): Semi-Automatic IMT, Fully Automated IMT
3) By Automated Manual Transmission (AMT): Single Clutch AMT, Dual Clutch AMT
4) By Automatic Transmission (AT): Conventional Automatic Transmission, Continuously Variable Transmission (CVT), Torque Converter AT, Variable Torque Converter AT
5) By Dual-Clutch Transmission (DCT): 6-Speed DCT, 7-Speed DCT, 8-Speed DCT
6) By Other Transmission Types: Hybrid Transmission, Electric Vehicle (EV) Transmission, Continuously Variable Planetary (CVP) Transmission, Single-Speed Transmission
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Which firms are leading the automotive transmission market?
Major companies operating in the automotive transmission market are Volkswagen, Toyota Motor Corporation, Ford Motor Company, General Motors Co., Honda Motor Co. Ltd., Nissan Motor Co. Ltd., Caterpillar Inc., ZF Friedrichshafen AG, Magna International Inc., Aisin Corporation, Chang’an Automobile Co. Ltd., BorgWarner Inc., American Axle & Manufacturing Inc., FAW Group Corp. Ltd., CLAAS, Allison Transmission Holdings Inc., Kalyani Technoforge Limited, TREMEC Corporation, Link Engineering Company, JATCO Ltd., Solero Technologies LLC, IMS Global Gear Machining LLC, Avtec Limited, Shanghai Automotive Transmission Co. Ltd., Hyundai Kefico Corporation, Colotti Trasmissioni, Gimec Trasmissioni S.r.l.
Which market trends are set to define the future of the automotive transmission market?
Major companies operating in the automotive transmission market focus on technologically advanced products with features such as crawl mode and hill-start assistance to gain a competitive advantage. Crawl mode and hill-start assistance enhance driving comfort and safety by providing smoother incline starts and slow-speed maneuvering in off-road or congested urban environments. For instance, in October 2023, ZF Group, a Germany-based automotive parts manufacturer, launched the Transwin. It is an automatic transmission for medium and heavy-duty trucks in China. These series include 9-speed and 6-speed variants, catering to diverse user requirements and working conditions. It targets various transportation scenarios, including long-distance and urban delivery, with features such as crawl mode and hill-start assistance for enhanced driving comfort. It was equipped with ZF’s latest software platform and OptiDrive shift system to ensure precise gear shifts and optimal performance under all driving conditions.
Which geographic trends are shaping the automotive transmission market, and which region has the highest market share?
Europe was the largest region in the automotive transmission market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive transmission market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Automotive Transmission Market Report 2025 Offer?
The automotive transmission market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
An automotive transmission, also known as a gearbox, is a critical component of a vehicle’s drivetrain. It is responsible for transferring the power generated by the engine to the wheels, enabling the vehicle to move. The transmission adjusts the torque and speed from the engine to match the driving conditions and the driver’s inputs, ensuring optimal performance and efficiency. It regulates the power flow from the engine to the wheels, allowing the vehicle to operate efficiently at different speeds and loads.
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