Automotive Transmission Market (By Engine: Internal Combustion (IC) Engine and Electric Engine; By Type: Manual, Automatic, Automatic Manual Transmission (AMT), Continuously Variable Transmission (CVT), Dual-clutch Transmission (DCT), and Others; By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle, and Electric Vehicle) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023– 2032
The global automotive transmission market was estimated at US$ 150 billion in 2022 and is expected to reach US$ 259.88 billion by 2032, poised to grow at a CAGR of 5.70% from 2023 to 2032.
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The Asia Pacific automotive transmission market was estimated at US$ 48 billion in 2022 and is expected to reach US$ 83.16 billion by 2032, growing at a CAGR of 5.70% from 2023 to 2032.
Based on the region, the Asia-Pacific segment dominated the global automotive transmission market in 2022, in terms of revenue. The market growth is projected to be aided by rising electric vehicles sales in the region. The automotive transmission market is expected to rise due to an increase in demand for automatic manual transmission (AMT) enabled commercial vehicles in Asia-Pacific.
On the other hand, the North America is estimated to be the most opportunistic segment during the forecast period. The growing demand for commercial vehicles in North America is also major driver for the global automotive transmission system. Furthermore, North America is a key market for luxury vehicles and sports vehicles, and are expected to develop at a consistent rate during the forecast period. The North America have high demand for aftermarket transmission systems, which might boost the automotive transmission market.
The automotive transmission market is fueled by a variety of benefits for users, including a smooth driving experience and rapid acceleration. It also had more usable power and uses less fuel than manual transmission systems. Furthermore, the advantages of automotive transmission include achieving maximum speed at low engine speeds, resulting in fuel savings, and efficient ploughing drive with accurate work at the power take off.
The automotive transmission market is being driven by an increase in the number of passenger vehicles and light weight commercial vehicles, as well as a growing need for fuel-efficient vehicles and a consumer desire for a comfortable driving experience. Furthermore, the automotive transmission market expansion has been aided by strict regulatory standards, particularly in developed regions such as North America and Europe.The expensive cost of enhanced transmission systems, on the other hand, is a major hurdle to market expansion.
The automotive transmission market expansion is projected to be aided by rapid technological developments in automotive transmission production. Moreover, owing to the shift in demand for zero-emission products with increased performance, the market is expected to be driven by the increasing adoption of Dual-clutch Transmission (DCT) and Continuously Variable Transmission (CVT) technologies over manual and automatic systems during the forecast period. In addition, the Asia-Pacific region is registering substantial growth in the countries such as India and China.
Automotive Transmission Market Share, By Vehicle Type, 2022 (%)
| Vehicle Type | 2022 (%) |
| Passenger Vehicle | 66% |
| Light Commercial Vehicle | 20% |
| Heavy Commercial Vehicle | 5% |
| Electric Vehicle | 9% |
Based on the engine, the Internal Combustion (IC) engine segment dominated the global automotive transmission market in 2022, in terms of revenue. To improve fuel economy, internal combustion (IC) engines are now combined with hybrid electric vehicles. These engines are also used in conjunction with plug-in hybrid electric systems to broaden the range of plug-in electric vehicles. These advantages are expected to provide opportunities for the growth of internal combustion (IC) engine segment in the coming years.
On the other hand, the Electric Engine segment is estimated to be the most opportunistic segment during the forecast period.The market demand of electric engines has increased as a result of increased urbanization and increased demand for electric automobiles. The electric engine segment will benefit from the growth and expansion of the automobile sector, as well as increased personal disposable income. The electric engine segment expansion will be aided by rising global power consumption and the use of electrical equipment.
Based on thetype, the Automatic Manual Transmission (AMT) segment dominated the global automotive transmission market in 2022, in terms of revenue and is estimated to sustain its dominance during the forecast period.The automatic manual transmission (AMT) segment is driven by rising demand for fuel-efficient transmission system. The change from mechanical to automated driving technologies is creating huge market opportunity. Thus, the automatic manual transmission (AMT) is widely used in the market.
On the other hand, the Continuously Variable Transmission (CVT) segment is estimated to be the most opportunistic segment during the forecast period. Continuously Variable Transmission (CVT) allows for maximum speed at low engine speeds, saving fuel and allowing for more efficient ploughing. Continuously Variable Transmission (CVT) systems are favored by vehicle manufacturers around the world because they are light in weight, small in size, and have fewer moving components.
Based on the vehicle type, the passenger vehicle segment accounted 66% revenue share in 2022. The demand for passenger vehicles is influenced by volatile fuel prices and road infrastructure. The improving economic outlook in developing nations is likely to boost the demand for passenger vehicles in the market.
On the other hand, the electric vehicle segment is estimated to be the most opportunistic segment during the forecast period. The technological advancements are resulting into surge in demand for automotive transmission systems during the forecast period.
Key Companies & Market Share Insights
The market is moderately fragmented with the presence of several local companies. These market players are striving to gain higher market share by adopting different marketing strategies, such as new product launch, investments, partnerships, and mergers & acquisitions. The companies are also spending on the development of improved products. Moreover, they are also focusing on competitive pricing.
In December 2020, the LG Electronics announced the joint venture with Magna International Inc.
The various developmental strategies such as business expansion, investments, new product launches, acquisition, partnerships, joint venture, and mergers fosters market growth and offers lucrative growth opportunities to the market players.
Segments Covered in the Report
By Engine
By Type
By Vehicle Type
By Geography
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Automotive Transmission Market
5.1. COVID-19 Landscape: Automotive Transmission Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Automotive Transmission Market, By Engine
8.1. Automotive Transmission Market, by Engine Type, 2023-2032
8.1.1. Internal Combustion (IC) Engine
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Electric Engine
8.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Automotive Transmission Market, By Type
9.1. Automotive Transmission Market, by Type, 2023-2032
9.1.1. Manual
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Automatic
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Automatic Manual Transmission (AMT)
9.1.3.1. Market Revenue and Forecast (2020-2032)
9.1.4. Continuously Variable Transmission (CVT)
9.1.4.1. Market Revenue and Forecast (2020-2032)
9.1.5. Dual-clutch Transmission (DCT)
9.1.5.1. Market Revenue and Forecast (2020-2032)
9.1.6. Others
9.1.6.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Automotive Transmission Market, By Vehicle
10.1. Automotive Transmission Market, by Vehicle, 2023-2032
10.1.1. Passenger Vehicle
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Light Commercial Vehicle
10.1.2.1. Market Revenue and Forecast (2020-2032)
10.1.3. Heavy Commercial Vehicle
10.1.3.1. Market Revenue and Forecast (2020-2032)
10.1.4. Electric Vehicle
10.1.4.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Automotive Transmission Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Engine (2020-2032)
11.1.2. Market Revenue and Forecast, by Type (2020-2032)
11.1.3. Market Revenue and Forecast, by Vehicle (2020-2032)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Engine (2020-2032)
11.1.4.2. Market Revenue and Forecast, by Type (2020-2032)
11.1.4.3. Market Revenue and Forecast, by Vehicle (2020-2032)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Engine (2020-2032)
11.1.5.2. Market Revenue and Forecast, by Type (2020-2032)
11.1.5.3. Market Revenue and Forecast, by Vehicle (2020-2032)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Engine (2020-2032)
11.2.2. Market Revenue and Forecast, by Type (2020-2032)
11.2.3. Market Revenue and Forecast, by Vehicle (2020-2032)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Engine (2020-2032)
11.2.4.2. Market Revenue and Forecast, by Type (2020-2032)
11.2.4.3. Market Revenue and Forecast, by Vehicle (2020-2032)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Engine (2020-2032)
11.2.5.2. Market Revenue and Forecast, by Type (2020-2032)
11.2.5.3. Market Revenue and Forecast, by Vehicle (2020-2032)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Engine (2020-2032)
11.2.6.2. Market Revenue and Forecast, by Type (2020-2032)
11.2.6.3. Market Revenue and Forecast, by Vehicle (2020-2032)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Engine (2020-2032)
11.2.7.2. Market Revenue and Forecast, by Type (2020-2032)
11.2.7.3. Market Revenue and Forecast, by Vehicle (2020-2032)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Engine (2020-2032)
11.3.2. Market Revenue and Forecast, by Type (2020-2032)
11.3.3. Market Revenue and Forecast, by Vehicle (2020-2032)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Engine (2020-2032)
11.3.4.2. Market Revenue and Forecast, by Type (2020-2032)
11.3.4.3. Market Revenue and Forecast, by Vehicle (2020-2032)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Engine (2020-2032)
11.3.5.2. Market Revenue and Forecast, by Type (2020-2032)
11.3.5.3. Market Revenue and Forecast, by Vehicle (2020-2032)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Engine (2020-2032)
11.3.6.2. Market Revenue and Forecast, by Type (2020-2032)
11.3.6.3. Market Revenue and Forecast, by Vehicle (2020-2032)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Engine (2020-2032)
11.3.7.2. Market Revenue and Forecast, by Type (2020-2032)
11.3.7.3. Market Revenue and Forecast, by Vehicle (2020-2032)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Engine (2020-2032)
11.4.2. Market Revenue and Forecast, by Type (2020-2032)
11.4.3. Market Revenue and Forecast, by Vehicle (2020-2032)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Engine (2020-2032)
11.4.4.2. Market Revenue and Forecast, by Type (2020-2032)
11.4.4.3. Market Revenue and Forecast, by Vehicle (2020-2032)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Engine (2020-2032)
11.4.5.2. Market Revenue and Forecast, by Type (2020-2032)
11.4.5.3. Market Revenue and Forecast, by Vehicle (2020-2032)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Engine (2020-2032)
11.4.6.2. Market Revenue and Forecast, by Type (2020-2032)
11.4.6.3. Market Revenue and Forecast, by Vehicle (2020-2032)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Engine (2020-2032)
11.4.7.2. Market Revenue and Forecast, by Type (2020-2032)
11.4.7.3. Market Revenue and Forecast, by Vehicle (2020-2032)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Engine (2020-2032)
11.5.2. Market Revenue and Forecast, by Type (2020-2032)
11.5.3. Market Revenue and Forecast, by Vehicle (2020-2032)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Engine (2020-2032)
11.5.4.2. Market Revenue and Forecast, by Type (2020-2032)
11.5.4.3. Market Revenue and Forecast, by Vehicle (2020-2032)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Engine (2020-2032)
11.5.5.2. Market Revenue and Forecast, by Type (2020-2032)
11.5.5.3. Market Revenue and Forecast, by Vehicle (2020-2032)
Chapter 12. Company Profiles
12.1. Aisin Seiki Company Ltd.
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. GKN PLC
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. ZF Friedrischschafen AG
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Continental AG
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Magna International Inc.
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Borgwarner Inc.
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Eaton Corporation PLC
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. JATCO Ltd.
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Schaeffler AG
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Allison Transmission Inc.
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
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