Automotive Transmission Market Size Growing at 5.8% CAGR Set to Reach USD 243.6 Billion By 2030

Acumen Research and Consulting recently published report titled “Automotive Transmission Market and Region Forecast, 2022 – 2030”

BERLIN, Feb. 02, 2023 (GLOBE NEWSWIRE) — The Global Automotive Transmission Market Size accounted for USD 149.2 Billion in 2021 and is estimated to achieve a market size of USD 243.6 Billion by 2030 growing at a CAGR of 5.8% from 2022 to 2030.

Automotive Transmission Market Overview

The Automotive Transmission Market has been growing rapidly encompassing a wide range of technologies and applications. It encompasses the design and manufacturing of transmission systems for vehicles of all types, including passenger cars, trucks, buses, and off-road vehicles. The market is driven by the increasing demand for fuel-efficient and high-performance vehicles, as well as the need for advanced technologies to meet emissions regulations.

One of the key technologies in the Automotive Transmission Market is the continuously variable transmission (CVT). This type of transmission uses a belt or chain to change the gear ratio, allowing for infinite variability between the highest and lowest ratios. This results in a smooth and efficient driving experience, as well as improved fuel economy. CVT transmissions are particularly popular in hybrid and electric vehicles, as they allow for optimal power transfer and energy management.

Another key technology in the Automotive Transmission Market is the dual-clutch transmission (DCT). This type of transmission uses two separate clutches to shift gears, allowing for faster and more precise shifts. DCT transmissions are particularly popular in high-performance vehicles, as they provide a sporty driving experience and improved performance. They are also becoming increasingly common in mainstream vehicles, as they provide a balance of performance and fuel economy.

In addition to these technologies, the Automotive Transmission Market also has a wide range of other applications. For example, there is a growing demand for automated manual transmissions (AMT) in commercial vehicles, as they provide a balance of performance and fuel economy. Similarly, there is an increasing demand for hybrid transmission systems, which combine traditional mechanical transmissions with electric motors for improved fuel efficiency.

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Automotive Transmission Market Report Coverage:

Market	Automotive Transmission Market
Automotive Transmission Market Size 2021	USD 149.2 Billion
Automotive Transmission Market Forecast 2030	USD 243.6 Billion
Automotive Transmission Market CAGR During 2022 – 2030	5.8%
Automotive Transmission Market Analysis Period	2018 – 2030
Automotive Transmission Market Base Year	2021
Automotive Transmission Market Forecast Data	2022 – 2030
Segments Covered	By Transmission Type, By Fuel Type, By Vehicle Type, And By Geography
Automotive Transmission Market Regional Scope	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled	Aisin Corporation, Allison Transmission, BorgWarner Inc., Continental AG, Eaton Corporation plc, Magna PT (GETRAG), GKN Ltd, JATCO Ltd, and Magna International Inc.
Report Coverage	Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

Automotive Transmission Market Report Highlights and Statistics

• The Global Automotive Transmission Market size in 2021 stood at USD 149,200 Million and is set to reach USD 243,600 Million by 2030, growing at a CAGR of 5.8%
• The high demand for fuel-efficient vehicles and the growing popularity of electric and hybrid vehicles, due to rising fuel prices as well as high carbon emissions are the major factors driving the growth of the market.
• The manual transmission segment shall dominate the automotive transmission market share during the forecast period, due to its low cost and high durability.
• The automatic transmission segment is estimated to grow at the fastest CAGR during the forecast period, due to the increasing demand for comfort and convenience in vehicles.
• The passenger cars segment is expected to dominate the market during the forecast period, due to the increasing number of passenger cars on the road.
• The Asia Pacific region is expected to dominate the Automotive Transmission market share during the forecast period, due to the increasing production and sales of vehicles in countries such as China, India, Japan, and South Korea.
• Key players operating in the market include ZF Friedrichshafen AG, Aisin Seiki Co., Ltd., BorgWarner Inc., GKN Plc, JATCO Ltd., Schaeffler AG, and Eaton Corporation PLC.

Trends in the Automotive Transmission Market

Developments in torque converter technology: Torque converters are being developed to improve the fuel efficiency of automatic transmission vehicles.

Growth in transmission system software: There is a growing trend towards the development of sophisticated transmission system software that can optimize transmission performance and improve fuel efficiency.

Increasing adoption of transmission controls: Automotive manufacturers are increasingly adopting advanced transmission controls, such as electronic control units (ECUs) and transmission control modules (TCMs), to improve transmission performance and reduce emissions.

Growing popularity of Direct-Drive Transmission (DDT): DDT is becoming more popular as it eliminates the need for a torque converter and reduces the number of moving parts which results in improved fuel efficiency and reduced cost.

Advancements in Dual Clutch Transmission (DCT): The Dual Clutch Transmission is becoming more popular as it provides better fuel efficiency and faster gear shifts.

Adoption of continuously variable transmissions (CVT): CVT technology is becoming increasingly popular in small and midsize vehicles due to its ability to provide an infinite number of gear ratios, resulting in a smoother driving experience and improved fuel efficiency.

Automated manual transmissions (AMT): Automated manual transmissions (AMT) are becoming increasingly popular as they offer the fuel efficiency and cost benefits of manual transmissions, with the convenience of automatics. They can automatically shift gears, but still allow the driver to manually shift gears if they want.

Increased use of advanced transmission systems: There is an increasing demand for advanced transmission systems such as 8 and 9-speed automatic transmission which offers improved fuel efficiency and smoother gear shifts.

Automotive Transmission Market Dynamics

Shift towards electric and hybrid vehicles: Governments around the world have been implementing stringent fuel economy standards for a long time now. With the increasing focus on reducing emissions and improving fuel efficiency, there is a growing demand for electric and hybrid vehicles. This is leading to the development of advanced transmission systems such as electric drive transmissions (EDT).

Development of lightweight materials: With the increasing spotlight on reducing vehicle weight to improve fuel efficiency, manufacturers are turning to lightweight materials such as aluminum and carbon fiber to produce transmission components.

Advancements in transmission control systems: With high adoption of advanced driver assistance systems (ADAS) and autonomous driving technology, there is a growing demand for advanced transmission control systems that can integrate with these systems.

Growing demand for high-performance transmission: With the high popularity of sports and luxury cars, there is an increasing demand for high-performance transmission that can handle the power and torque of these vehicles.

Growing trend of shared mobility: With the increasing trend of shared mobility, there is a growing demand for transmission systems that can handle high-frequency usage and multiple shifts per day.

Increasing production and sales of vehicles: The global production and sales of vehicles have been increasing in recent years especially in developing countries which have seen a high shift towards the middle class. This is also one of the factors which is driving the demand for transmission systems. The growth in the automotive industry is expected to continue, further boosting the growth of the transmission market.

Advancements in technology: Automotive transmission market is continuously evolving as manufacturers look for ways to improve fuel efficiency and performance while reducing emissions.

Increasing consumer preference for comfort and convenience: Consumers are increasingly looking for vehicles that offer a comfortable and convenient driving experience. Automatic transmission systems offer smooth gear shifts and require minimal driver input, and are becoming increasingly popular as a result.

Automotive Transmission Market Growth Hampering Factors

• High Competition: Car manufacturing is a cutthroat business, the competition is extremely high. Companies have to provide reliable cars with good quality, keeping budget in mind. Many car companies face losses due to fluctuating cost of raw materials as well as being dependent on certain countries for procuring the raw materials.
• High Costs: Advanced transmission systems, such as electric and hybrid drive systems, can be costly to produce and install. This may limit their adoption in the market, particularly in developing countries where cost is a major concern.
• Still developing Infrastructure: The lack of charging and refueling infrastructure for electric and hybrid vehicles may limit their adoption, which in turn may hamper the growth of the automotive transmission market.
• Complex Regulations: Stringent regulations regarding emissions and fuel efficiency may make it difficult for manufacturers to develop and produce new transmission systems, which could limit the growth of the market.
• High Cost of Fuel may discourage many consumers in developing countries into buying a vehicle for themselves, which can overall be a growth hampering factor for the market.
• Lack of Standardization: The lack of standardization in the design and production of electric and hybrid drive systems may make it difficult for manufacturers to mass produce these systems, which could limit the growth of the market.
• Reluctance of Consumers to adapt to newer technologies: Consumers may be hesitant to adopt new transmission technologies due to lack of familiarity or concerns over reliability and durability.

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Market Segmentation

By Transmission Type

• Automatic
• Manual

By Fuel Type

• Gasoline
• Diesel
• Other

By Vehicle Type

• Heavy commercial Vehicles
• Light Commercial Vehicles
• Passenger Vehicles

Automotive Transmission Market Overview By Region

North America: The North American automotive transmissions market share is primarily driven by the presence of global automotive manufacturers such as General Motors, Tesla and Ford, all of which are known for some of the most reliable cars. The region has a significant number of production plants for both manual and automatic transmissions, which has led to a high degree of penetration of these systems in the region. The region’s large fleet of vehicles, coupled with stringent emissions regulations, has also contributed to the growth of the market.

Europe: The European automotive transmissions market share is characterized by the presence of a large number of luxury car manufacturers as well as some of the most sophisticated car companies in the world. European cars are on par with Japanese car companies, they are well known for being of excellent quality. The adoption of advanced technologies such as dual-clutch transmissions and continuously variable transmissions is very high in the region. The region’s focus on fuel efficiency and emission reduction has also driven the adoption of these systems. Germany and Italy are the major markets for automotive transmissions in Europe, with a large number of production facilities for both manual and automatic transmissions.

Asia Pacific: The Asia Pacific automotive transmissions market share is driven by the presence of major automotive manufacturers such as BYD, Tata Motors, Toyota, Hyundai and Honda, as well as the rapid growth of the automotive industry in countries such as China and India. These two countries have rapidly risen to become two of the largest car manufacturing countries surpassing many developed nations, in recent years. Both these countries harbor two of the largest populations in the world as well as a growing middle class. The region has a high degree of penetration of manual transmissions, due to the low cost of these systems and the high demand for budget vehicles. However, the region is also witnessing a growing adoption of automatic transmissions and continuously variable transmissions.

The Latin America and MEA regions account for significantly less automotive transmissions market share comparatively. However the market will be growing in the future and is being driven by the presence of major automotive manufacturers. The Latin American and the African market have a good demand for budget cars and manual transmission. And Some countries in the Middle East have a good demand for luxury cars and automatic transmissions.

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Automotive Transmission Market Key Players

ZF Friedrichshafen AG, Aisin Seiki Co., Ltd., BorgWarner Inc., GKN Plc, JATCO Ltd., Schaeffler AG, Eaton Corporation PLC, General Motors, Honda Motor Co. Ltd, Hyundai Mobis, JTEKT Corporation, Magna International Inc., Punch Powertrain NV, Ricardo plc, Voith GmbH, Oerlikon Graziano S.p.A, DANA Inc., AVTEC Ltd, GETRAG.

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