Automotive Transmission Market – Consumer Preference Shifting toward Automatic Transmission Systems
Automotive Transmission Market
The automotive transmission system also known as the gearbox helps in controlling the power generated by engine of a vehicle. The gear trains used in transmission system provide torque and speed conversion from a rotating power source to another device. Transmission systems used in vehicles are hydraulic transmissions. This type of transmission uses a kind of fluid coupling instead of friction clutch, and changes gears by locking and unlocking a system of planetary gears.
Automotive Transmission Market Description –
Broadly, the automotive transmission system has been segmented into two types: manual and automatic transmission. By fuel type, automotive transmission is segmented into gasoline, diesel, and others. The automotive transmission system by vehicle type is segmented into passenger cars, LCV’s, ICV’s, HCV’s, off road vehicles, construction equipment vehicles, defense vehicles, and farm tractors. Latest automotive transmission systems enhances the driving experience in terms of improved acceleration, gear shifting and improves fuel efficiency over conventional manual transmission systems. Growing demand for lower carbon emissions is driving the automotive transmission system market. Low penetration of advanced transmission system in markets like India, Brazil, and Mexico is restraining the automotive transmission system market. End users in emerging countries like India and Pakistan still prefer manual transmission over automatic transmissions. Moreover, variants with automatic transmission are costlier than manual transmissions and this is one of the major limiting factors for the automotive transmission market. Growing demand for advanced transmission systems in the entry level vehicle segment is expected to drive the market.
The global automotive transmission market is segmented by region into North America, Europe, Asia Pacific and Rest of the World (RoW). Asia Pacific led the global automotive transmission market in 2014. Asia Pacific is the largest producer as well as the biggest transmission market in terms of value due to presence of countries like China, India, South Korea and Japan.
The key players operating in the automotive transmission market are Magna International Inc. (Canada), Eaton Corporation (Ireland), Continental AG (Germany), ZF Friedrichshafen (Germany), Allison Transmission (U.S.A), BorgWarner Inc. (U.S), Aisin SEIKI Co. Ltd. (Japan), and GKN PLC (U.K) among others.
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