Automatic Transmission Market Global Industry Growth Analysis, Size, Share, Trend, Future Demand and Leading Players Updates by Forecast to 2030

Research Reports

Apr 07, 2022

Automatic Transmission Market Overview:

According to the market research report, the global Automatic Transmission Market is expected to reach a CAGR of 7%, with a value of USD 95 million during the estimated quarter of 2026.

Apart from just delivering engine power to the wheels, the vehicle gearbox system offers numerous advantages. Due to excessive traffic and congestion, and packed streets, demand for automotive automatic transmission cars has increased over the last three years, particularly in emerging nations such as India and China. The primary types of automatic transmission systems used in automobiles are automated manual transmission, continuously variable transmission, dual and transmission.

With increased concern for the environment and strong fuel efficiency standards, the number of manual transmission system automobiles on the market may drop, increasing demand for automated gearbox systems. Governments in the region are also attempting to encourage the sales of renewable fuels cars and fuel-efficient automobiles through incentives and tax breaks, which is projected to drive demand for the automatic transmission market in the region. Lighting is one of the most important elements in a car since it offers comfort and security when driving. It is also a significant stylistic feature in current vehicles.

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The automobile lighting system is made up of illumination and signalling devices situated on the vehicle’s top, wings, and tail. The fundamental role of automotive lighting is to ensure the driver’s sight by illuminating the route ahead of the vehicle. Lighting increases vehicle visibility by alerting others to the presence and location of the vehicle. As a result, vehicle lighting systems are created and prepared in collaboration with the visible range and how human eyes detect it.

The COVID-19 crisis is creating uncertainty in the market by slowing down the supply chains, hampering business growth, and increasing panic among the customer segments. Governments across different regions announced total lockdown and the temporary shutdown of industries, adversely affecting overall production and sales.

Top Giant Market Players

Aisin Seiki Co. Ltd. (Japan), Allison Transmission Inc. (U.S.), BorgWarner Inc. (U.S.), Continental AG (Germany), GKN PLC (U.K.), Eaton Corporation PLC (Ireland), Magna International Inc. (Canada), Jatco Ltd. (U.S.), and Schaeffler AG (Germany) are some of the leading players operating in this market.

Top Impacting Factors

Automotive transmission framework highlights various gadgets, by which seamless gearshifts ensue. The high torque is transmitted from the engine to the live axle of an automobile through the drive shaft. Each component, such as shafts, gears, and other useful accessories, takes pride in delivering motion to the automobile. These components impart velocity to the car and are directly related to the speed ratio of the cars. All these features have stood up as essential factors motivating the market and its growth to a great extent.

The demand for automatic transmission vehicles has been growing for over the past three years, mainly in the developing countries of India and China, owing to heavy traffic and congestion and overcrowded streets. The expansion drivers for the automotive transmission market are attributed to the growing demand for the automatic transmission that offers fuel-efficient, lightweight, and comfortable driving experience in exploding traffic congestion situations in growing cities.

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With this, the escalating spending capacity of the middle-class population in developing countries, stringent regulations for controlling fuel emission, rising demand of electric vehicles encouraging the electrification of transmission systems are transforming the industry growth at a high pace.

On the contrary, the factor of the higher cost of installing technically advanced systems and limited use of high-end technology is known to be restricting the sales of the market. This would result in risking the market’s growth to lessen up the forecast period.

Market Segmentation:

According to the report, the automatic transmission market has been segmented into four sections type fuel type, vehicle type and regional sections. In terms of type, it is further divided into four categories such as automatic transmission, automatic manual transmission, continuously variable transmission, dual-clutch transmission. The fuel type is classified into three segments: gasoline, diesel, & hybrid. In the vehicle segmentation, the entire market is segmented into three forms passenger cars, light commercial vehicles, heavy commercial vehicles. With the regional basis, the entire global market has been segmented into five sections Asia-Pacific, Europe, North America, South America and Middle East & Africa.

Regional Analysis:

During the projection period, Asia-Pacific is predicted to increase at the quickest rate. With a constantly rising automobile population, nations such as China, India, and Asian countries are expected to see considerable demand for automated cars in Asia-Pacific, particularly India. Over the last three years, there has been a considerable surge in demand for automatic transmission automobiles and SUVs in India.

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