Global Automotive Transmission Market to be hampered by High Costs of Advanced Transmission Systems
A new research report has been recently published by Transparency Market Research, a global market intelligence firm, and is available for sale on the company website. The research report, “Automotive Transmission Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2021,” presents a comprehensive analysis of the global automotive transmission market. The study includes a market overview, market drivers and restraints, challenges and opportunities, market trends, product segmentation, geographical segmentation, and the competitive landscape of the market.
According to the research report, in 2014, the global automotive transmission market was worth US$119.7 mn and is projected to reach a value of US$181.8 mn by the end of 2021. The market is estimated to exhibit a 5.90% CAGR between 2015 and 2021.
The major factors driving the global automotive transmission market are the growing demand for automatic transmission systems in entry-level vehicles, and the lower emission of harmful gases and improved fuel efficiency due to the use of automatic transmission. In addition, the development of CVT technology in the automotive transmission market is one of the biggest opportunities that is expected to fuel the growth of the market. On the other hand, limited use of advanced transmission in volume markets and rising costs of advanced transmission systems are the major factors hampering the growth of the global automotive transmission market.
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By transmission type, the global automotive transmission market has been classified into automatic and manual transmission. In 2014, the manual transmission segment accounted for the biggest share in the global market. The manual transmission segment is in high demand in many parts of Europe and Asia Pacific. Presently, these two regions collectively hold a 60% share in the global automotive transmission market. However, the automatic transmission segment is expected to gain traction owing to the changing preference from manual to automatic systems in the next few years. This trend is estimated to boost the demand for automatic transmission systems globally.
By fuel type, the global automotive transmission market has been categorized into diesel, gasoline, and others. In 2014, the gasoline segment accounted for the largest share in the global automotive transmission market. In the next few years, the diesel segment is projected to overtake gasoline as the dominant segment of the automotive transmission market. The others segment comprises fuel sources such as hybrid and electric vehicles. This segment is projected to grow significantly throughout the forecast period.
By industry application, the global automotive transmission market has been segmented into farm tractors, construction equipment, passenger cars, LCVs, HCVs, off road vehicle, ICVs, and defense vehicles. In 2014, the passenger cars segment led the global automotive transmission market.
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By geography, the global automotive transmission market has been divided into North America, Europe, Asia Pacific, and Rest of the World. In 2014, the Asia Pacific automotive transmission market dominated the overall market and held a 34% share in the global automotive transmission market. In Asia Pacific, developing economies such as India, South Korea, Japan, and China are accountable for the rapid growth of the automotive transmission market.
Furthermore, the research report covers the competitive landscape of the global automotive transmission market. Some of the prominent players operating in this market are Continental AG, BorgWarner Inc., Magna International Inc., Allison Transmission, GKN PLC, Eaton Corporation, Aisin SEIKI Co. Ltd., and ZF Friedrichshafen.
Key segments of the Automotive Transmission market:
Automotive Transmission Market: By Transmission Type
Automotive Transmission Market: By Fuel Type
Automotive Transmission Market: By Industry Application
Off Road Vehicle
Automotive Transmission Market: By Geography
Rest of Europe)
Rest of Asia Pacific
Rest of the World