Automotive Automatic Transmission Market:
Growth opportunities in the Automotive Automatic Transmission Market look promising over the next six years. This is mainly due to the intensifying urban population, continuous arrangement of leading enterprises to support the development of these systems, and increasing per-capita income.
Automotive Automatic Transmission Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Swift urbanization, accelerating disposable income of the middle-class population, augmenting sales of mechanized electronic cars, and the availability of medium-range cars with automated transmission systems are some of the crucial drivers contributing to the growth of the global automotive automatic transmission market. Also, the changing preference of consumers towards the acquisition of these systems, which include dual-clutch transmission (DCT), continuous variable transmission (CVT), and automatic transmission (AT) owing to the increasing demand for effortless driving experience without the need for a clutch will further strengthen the market size. In addition, enormous organizations such as Automatic Transmission Rebuilders Association (ATRA), Environmental Protection Agency (EPA), and International Council on Clean Transportation (ICCT) offer constant support, resources, and expansion in the field of unmanned transference in automotive. This factor is forecasted to bring enormous growth opportunities for the market. However, excessive maintenance costs of these systems, insufficient awareness about the benefits, and complicated testing will hamper the market growth. Moreover, the widespread outbreak of the coronavirus pandemic has further disturbed the supply chain and production processes of vehicles will curb the automotive transmission market size.
Fuel Type Segment Drivers
Based on fuel type, electric cars are projected to grow at a higher CAGR over the forecast period. This is primarily attributed to the rapid acceptance of electric vehicles led by their improved functional security, low emission, and excessive prices of gasoline. Moreover, according to the International Energy Agency (IEA), in 2019, electric cars recorded 2.1 million sales with a 40% year-on-year increase and gauged for 2.6% of the global car sales. This is expected to supplement the market growth.
Based on regional coverage, Asia-Pacific is predicted to expand at a faster CAGR over the forecast period. This is mainly because of the escalation in vehicle production coupled with the growing manufacturing of electric cars, LCVs, HCVs, automotive systems, especially in parts in India, China, Bangladesh, and Japan. As per the International Energy Agency (IEA), China accounted for approximately 47% of the car sales in 2019. This will escalate the market growth.
Automotive Automatic Transmission Market’s leading Manufacturers:
- Melrose Industries Plc
- BorgWarner Inc.
- ZF Friedrichshafen AG
- Eaton Corporation Plc
- AISIN SEIKI Co., Ltd
- Allison Transmission Inc.
- Schaeffler Group
- Magna International Inc
- Continental AG
- SAIC Motor Corporation Limited
Automotive Automatic Transmission Market Segmentation:
Segmentation by Type
- Automatic Transmission (AT)
- Automatic Manual Transmission (AMT)
- Continuous Variable Transmission (CVT)
- Dual Clutch Transmission (DCT)
Segmentation by Fuel Type
- Electric Vehicle
Segmentation by Vehicle Type
- Passenger Cars
- Light Commercial Vehicles (LCVs)
- Heavy Commercial Vehicles (HCVs)
Segmentation by Region:
- North America
- United States of America
- Asia Pacific
- Rest of APAC
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
- Rest of the world (remaining countries of the LAMEA region)
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