Global Automotive Transmission Market Outlook 2024-2028: An $84.2 Billion Opportunity with ZF, Magna Int'l, Aisin Corp, Eaton Corp, and Jatco Dominating the Landscape

Dublin, April 10, 2024 (GLOBE NEWSWIRE) -- The "Global 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 - Forecast to 2028" report has been added to * ResearchAndMarkets.com's* offering.

The global automotive transmission market is projected to grow from USD 62.4 billion in 2023 to USD 84.2 billion by 2028 at a CAGR of 6.2%. Governments worldwide are implementing stringent emission regulations, driving the increased adoption of electric and hybrid vehicles to curb greenhouse gas emissions. HEVs and PHEVs are primarily equipped with automatic or CVT transmissions for seamless integration between electric and gasoline propulsion, optimizing efficiency and ensuring smooth transitions. Additionally, these transmissions offer driver comfort and convenience by eliminating the need for manual gear changes and facilitating regenerative braking, thus enhancing the overall driving experience and efficiency.

Ensuring cost-effectiveness and enhancing performance remains a primary concern for transmission system manufacturers. Achieving this balance necessitates R&D investments to incorporate advanced technologies that improve fuel efficiency, drivability, and overall vehicle dynamics. Additionally, managing thermal loads within the transmission system poses a significant challenge, especially with the trend toward high-pressure injector engines and higher power densities, which can lead to increased heat generation.
*Automatic transmission in two-wheeler segment is expected to grow at the highest CAGR during the forecast period*

With urbanization on the rise, marked by growing traffic congestion and the need for effortless navigation within cities, the demand for mopeds/scooters and electric two-wheelers is growing. These two-wheelers are equipped with automatic transmissions. In addition, the surge in female ridership is driving demand for automatic transmissions. Furthermore, an aging demographic of motorcyclists with physical limitations or diminishing strength are also the key customers for effortless automatic transmissions. Thus, the automatic transmission facilitates a smoother and more accessible riding experience for a broader audience. In the Asia-Pacific region, manual transmissions dominate the two-wheelers market, comprising an estimated 70% of sales in the fiscal year 2020-2021. This trend underscores the enduring preference for manual transmission technology among consumers in the region. For instance, in India, motorcycle sales in 2023 reached 10.2 million units, reflecting a 14% increase from the previous year's figure of 8.9 million units in 2022.

Conversely, the scooter market experienced even stronger growth, with a remarkable 26% increase. This surge indicates a growing demand for automatic transmission vehicles in India, although the current market is predominantly dominated by motorcycles. Electric bikes and scooters are experiencing significant growth in Asia, with China, Japan, and India leading the market. China, in particular, holds the largest market share for e-scooters, driven by stringent environmental regulations and the lower cost of electric vehicles than conventional options. This growth underscores a shift towards sustainable transportation solutions in response to environmental concerns and government initiatives promoting electric mobility. The surge in electric bike and scooter adoption in the Asia-Pacific region is poised to drive the growth of automatic transmissions due to the increasing demand for convenient and efficient urban mobility solutions.

*North America is the second-largest market for automotive transmissions*

Vehicle production in North America experienced a notable 13% growth from 2021 to 2023, with a projected increase of 23% by 2028, where the US contributes nearly 67% of the region's total production. Light commercial vehicles (LCVs) hold a significant share, driven by the region's growing small-scale businesses. In the US, SUVs and trucks dominate, with manufacturers investing in advanced transmissions to meet fuel economy standards while prioritizing consumer comfort and convenience. In both the US and Canada, automatic transmissions dominate the vehicle market. They are expected to continue their dominance in the forecasted period alongside the region's overall growth in vehicle production.

Automatic transmissions are widespread in US passenger cars due to their early adoption, cultural preference for convenience, and suitability for urban driving. Factors like price parity, limited manual options, and dealer incentives also contribute to their popularity. However, CVT and DCT transmissions play significant roles, catering to diverse customer preferences. CVT holds a larger and expanding share, particularly in fuel-efficient segments, while DCT remains relevant for performance-oriented vehicles. CVT is expected to maintain a strong market presence, while DCT will continue to hold a significant position due to its preference for high-performance cars. DCTs offer quicker and smoother gear changes than traditional automatics, enhancing acceleration and responsiveness. In conclusion, automatic transmissions and CVT will dominate the market, and automated manual transmission will grow at the fastest CAGR of 11.9% in the forecasted period.

*Research Coverage*

The study segments the automotive transmission market by volume and value, based on region (Asia-Pacific, Europe, North America, Latin America and Middle East& Africa), By transmission type (Automatic Transmission, Manual Transmission, Automated Manual Transmission, Continuously variable transmission, Dual Clutch Transmission), By Number of forward gears (Up to 5, 6-8, 9-10, Above 10, CVT), vehicle type (PCs, LCVs, Trucks, Buses), Hybrid Electric Vehicles type (Asia-Pacific, North America, Europe), By fuel type (Diesel, Gasoline and Alternate Fuels), by Two-wheeler transmission Type (Manual, Automatic).

The study also includes an in-depth competitive analysis of the major automotive transmission manufacturers, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies. The key players in the market are Aisin Corporation (Japan), ZF Friedrichshafen AG (Germany), Magna International Inc. (Canada), JATCO Ltd. (Japan), Borgwarner Inc. (US), Eaton Corporation (Ireland), Hyundai Transys (South Korea), Allison transmissions (US), Vitesco Technologies (Germany), Schaeffler AG (Germany), and GKN Automotive (UK). Major companies' key strategies to maintain their position in the global automotive transmission market are strong global networking, mergers and acquisitions, partnerships, and technological advancement.

*Key Attributes*

*Report Attribute* *Details*
No. of Pages 329
Forecast Period 2023-2028
Estimated Market Value (USD) in 2023 $62.4 Billion
Forecasted Market Value (USD) by 2028 $84.2 Billion
Compound Annual Growth Rate 6.2%
Regions Covered Global

*Premium Insights*

· Growing Demand for Fuel-Efficient Vehicles to Drive the Market
· Automatic Transmission Segment to Lead the Market During the Forecast Period
· Passenger Cars Segment to Lead the Market During the Forecast Period
· Alternate Fuel Segment to Grow at the Highest Rate from 2023 to 2028
· Up to 5 Segment to Lead the Market During the Forecast Period
· North America to Register the Highest CAGR During the Forecast Period
· Automatic Transmission Segment to Grow at a Higher Rate than Manual Transmission Segment During the Forecast Period
· Asia-Pacific to Account for the Largest Market Share in 2023

*Market Dynamics*

· Drivers

· Increasing Consumer Preference for Enhanced Driving Experience and Smooth Gear Shifting
· Rising Popularity of Fuel-Efficient Cars
· Growing Demand for Lightweight Transmission Systems
· Collaboration of Leading Auto Manufacturers with Domestic Players

· Restraints

· High Adoption Cost and Frequent Maintenance of Advanced Transmission Systems
· Volatility in Raw Material Prices

· Opportunities

· Wide Acceptance of CVT Technology for Fuel Efficiency and Lowering Emissions
· Increasing Adoption of Automatic Transmissions and Development of Hybrid Drives
· Rising Demand for Electric Vehicles
· Growing Need for Transmission Fluids in Evolving Automotive Landscape

· Challenges

· High Cost of Lightweight and Efficient Transmissions
· Efficient Power Flow Management

*Case Study Analysis*

· Life Cycle Assessment of Transmission Case: Magnesium vs. Aluminum
· Design Analysis and Fabrication of Automotive Transmission Gearbox Using Hollow Gears for Weight Reduction
· Lightweight Assembled Gears: Green Design Solution for Passenger and Commercial Vehicles
· Ultra-Lightweight Design of Single-Speed Transmission
· Integrating Planetary Differential for Lighter Transmission

*Technological Analysis*

· Dedicated Hybrid Transmission (DHT)
· 800-Volt Power Electronics System for Electric Axles
· Automated Manual Transmission
· Electrification of Automotive Transmission
· Innovative Gearbox Design for Electric Vehicles
· Ingear 2-Speed Electric Vehicle Transmission
· CVT Transmission for Electric Vehicles

*Companies Profiled*

· ZF Friedrichshafen AG
· Magna International Inc.
· Aisin Corporation
· Eaton Corporation
· Jatco Ltd.
· Vitesco Technologies
· Schaeffler AG
· Borgwarner Inc.
· Allison Transmission Inc.
· GKN Automotive
· Hyundai Transys
· Dana Limited
· Weichai Power Co. Ltd.
· General Motors
· Kate LLC
· Muhr Und Bender KG
· Startransmission & Starassembly
· Maclean-Fogg Component Solutions, LLC
· Mazda
· Ford
· Daihatsu
· Subaru
· Tremec
· Punch Powertrain N.V.
· Zeroshift
· Xtrac Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/a2jiwg

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*Attachment*

· Global Automotive Transmission Market

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