Automotive Transmission Market worth $80.8 billion by 2027

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MarketsandMarkets Presents

Automotive Transmission Market worth 80.8
billion by 2027
https//www.marketsandmarkets.com/Market-Reports/a
utomotive-transmission-systems-market-1063.html
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The report "Automotive Transmission Market by
Transmission Type (Manual Transmission, Automatic
Transmission, CVT, DCT, AMT), Fuel Type, Vehicle
Type, Hybrid Vehicle, Two-Wheeler Transmission,
Number of Forward Gears and Region - Global
Forecast to 2027", is projected to reach USD 80.8
billion by 2027 from USD 59.9 billion in 2022, at
a CAGR of 6.2 during the forecast period.
Technological advancements in current
generation automotive transmissions, Increasing
customer preference for convenience, premium
transmissions are further expected to drive the
automotive transmission market. Overall, the
changing preferences of buyers, improved
standards of living, and focus of OEMs to provide
comfort and convenience are also expected to
drive the growth of the automotive transmission
market. Browse 237 market data Tables and 76
Figures spread through 253 Pages and in-depth TOC
on "Automotive Transmission Market The key
players in the automotive transmission market
include ZF Friedrichshafen (Germany), MAGNA
International (Canada), Aisin Corporation
(Japan), Eaton Corporation(Japan), Hyundai
Transys(South Korea), Allison transmissions(US),
Vitesco Technologies(Germany), Schaeffler
AG(Germany), BorgWarner(US), GKN Automotive(UK),
and Jatco (Japan) and more.
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Download PDF Brochure _at_ https//www.marketsandmark
ets.com/pdfdownloadNew.asp?id1063 CVT, by
Number of forward gears, is estimated to be the
fastest-growing automotive transmission market
during the forecast period. The CVT is an
automatic transmission that consists of two
pulleys connected by a steel belt. The CVT varies
the diameter of the "drive pulley" that transmits
torque from the engine and the "driven pulley"
that sends torque to the wheels at the same time
to continually vary gear ratios. The CVT can
avoid shift-shock and deliver smooth driving
thanks to stepless gear ratio shifting, making it
an excellent transmission alternative. Growing
craze of SUVs worldwide is a good opportunity
for automatic transmissions as automatics makes
city drive hassle free. The growing importance
of CVT is a great opportunity for transmission
manufacturers to increase their market share, as
it not only provides better fuel efficiency but
also reduces the carbon emissions of a vehicle.
This type of transmission is used mainly in
hybrid and electric vehicles, the demand for
which is on the rise due to the growing concern
regarding the environment. Another reason for CVT
systems gaining importance among consumers is
that it provides higher potential efficiency
improvement of 6 as compared to MT and AT,
along with increased savings over a vehicles
lifetime of up to USD 1,800.
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Passenger car segment, by vehicle type, is
estimated to be the largest segment during the
forecast period. With increase in demand for
comfort and ease to drive vehicles, OEMs are
launching new and updated models with loaded
features and advanced transmissions. The
passenger cars segment is estimated to account
for a share of 75 of the global automotive
transmission market by volume in 2022. Passenger
cars comprise sedans, hatchbacks, station wagons,
SUVs, MUVs, and vans. The growing role of
transmission in passenger cars, coupled with
growing influence of fuel-efficient systems, has
been propelling the growth of the automotive
transmission market in the passenger car segment.
The technologies used in passenger vehicles are
frequently changing due to the high demand from
consumers for luxury and convenience features.
Also, government regulations for emissions and
safety for passenger vehicles are frequently
changing. The manufacturers must reduce the
weight of passenger vehicles and offer comfort
and safety at a lower price. Due to the
increasing demand for autonomous and electric
vehicles, the demand for new transmissions is
increasing in passenger vehicles. Request FREE
Sample Report _at_ https//www.marketsandmarkets.com/
requestsampleNew.asp?id1063
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Asia Pacific is estimated to be the
fastest-growing market for automotive
transmission in 2022 The Chinese market is the
largest in the Asia-Pacific and is witnessing
significant growth in the demand for and sales of
premium vehicles. China is one of the major
markets for premium vehicles, given the rising
disposable income in the country. Nearly all
major OEMs have invested in the Chinese market,
which is inclined towards small and affordable
passenger vehicles. A surge in demand for
sophisticated automated transmission is expected,
as the current market penetration of vehicles
with automated transmission systems is low
compared to that in developed countries. The
growing automotive production levels in China
have raised the demand for automotive
transmission systems. This region is also
expected to welcome the energy saving green cars
to their economy. To speak to our analyst for a
discussion on the above findings, click Speak to
Analyst
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