55% of Automotive Transmission Systems Sales Accounted for by Gasoline Vehicles, Investigates Fact.MR
Published : 18 Oct 2021 Industry: Automotive
Fact.MR predicts the global sales of automotive transmission systems to exceed US$ 70 Bn, registering a CAGR of 6.3% through the assessment period 2021-2031. Governments across the globe are contributing a massive share in fuelling the expansion of the automotive transmission system market by setting stricter regulatory norms regarding vehicular emission control. In addition, governments are compelling a growing number of automakers and technology leaders to bring electrification and fuel efficiency that would upgrade the automotive transmission systems.
Historically, from 2016 to 2020, the global automotive transmission system surged at a CAGR exceeding 5%. The COVID-19 pandemic affected various businesses. Due to the restriction on movements, the automotive industry faced losses. But, with work stations gaining momentum, the sales of automotive transmission systems are expected to retrieve.
Research has confirmed time and again that the type of automotive transmission system implemented in a vehicle is imperative in shaping its fuel efficiency. Also, it has been proven that automated automotive transmission systems and dual-clutch automotive transmission systems exhibit higher efficiency over the manual variant of automotive transmission systems – in terms of gearshift comfort and reduced energy loss. This, in turn, is accelerating the sales of automotive transmission systems.
Key Takeaways from the Market Study
- Gasoline expected to hold the highest share for sales, accumulating more than 55% market share
- Manual automotive transmission systems to remain highly demanded, capturing more than 50% demand
- Automotive transmission system industry expected to possess 25% market share throughout North America
- Asia likely to account for more than 1/3rd revenue share until 2031
“Increasing usage of passenger cars and strict regulations set by the government is expanding the demand for automotive transmission systems.” opines a Fact.MR analyst
Prominent companies operating in the automotive transmission systems space include Aisin Seiki Co. Ltd, Renault SA, Continental AG, Magna International Inc., Eaton Corporation PLC and Hyundai Motor Company among others.
- In December 2020, Vitesco Technologies supplied Renault with actuator module for electrified transmissions. Renault has integrated the same in its E-Tech platform.
- In June 2020, Hyundai Motor Corp. introduced the 2020 Santa Fe 7-seater SUV, which utilizes a third-generation architecture, equipped with a plug-in hybrid powertrain. The vehicle is equipped with an 8-speed automatic transmission system, as well as a manual shift mode.
- In August 2021, Aisin Seiki Co. Ltd. equipped in the new Toyota Aqua an electric water pump for inverter cooling and a shift-by wire which can automatically shift gears. The integrated electromechanical, small-sized and highly responsive shift-by-wire will pave the way for future automated driving
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global automotive transmission system market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.
The study indulges essential insights on the market on the basis of transmission type (manual, automatic, automated, dual clutch and continuously variable), vehicle type (PC, LCV and HCV) and fuel type (gasoline and diesel) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).
About the Automotive Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned automobile team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the automotive industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Consultant - Industrial Goods and Automotive