Transmission Housing Demand Forecast and CAGR
According to the latest research from Fact.MR, transmission housing market is projected to grow steadily between 2021 and 2031 at a CAGR of 4% to 6%. In the short term, the market will gradually rebound, with an ambitious long-term growth outlook. The market growth has been fueled by the need for modern and reliable designs.
What is Driving Demand for Transmission Housing?
A transmission housing is a mechanical enclosure that protects the mechanical components of a gearbox. It provides mechanical support for the moving components, mechanical protection for those internal components from the outside world. Advanced production methods and technologies are being integrated into the automotive industry, resulting in more effective component designs. Manufacturers are using advanced processes, such as 3D modelling techniques and research methods, to produce the product with high precision and cost-effectiveness.
Innovative processes are being implemented by vendors to streamline the pressing and post-pressing machining processes used in the transmission housing manufacturing phase. These factors are assisting in the development of more effective, lighter, and rigid housing designs, as well as reducing flaws and the likelihood of cracks inside the housing.
Though due to the COVID-19 pandemic the overall sales were hampered and the demand drastically declined during 2020. However, it is estimated that the market will show positive growth from 2021 onwards.
Magnesium Alloy is Increasingly Being Used to Make Transmission Housing Resulting in Growth of the Market
One of the key trends in the market is the increasing use of magnesium alloy to produce transmission housing. In the manufacturing of the product, manufacturers are increasingly using innovative and advanced materials.
Owing to its superior physical and mechanical properties, magnesium outperforms steel, iron, and aluminum. Magnesium alloys can be used to make thin-walled automotive parts with complex geometries, such as housings. This factor is expected to contribute to the market's expansion.
US And Canada Demand Outlook of Transmission Housing
The demand factors such as the high production volume of passenger vehicles and the increasing use of efficient materials in manufacturing have contributed to the growth in North America. Because of the presence of key automotive parts manufacturers in the region, North America is projected to hold a significant share of the global market.
During the forecast era, other factors such as advances in the field of automotive transmission mechanisms and the evolution of advanced algorithms for quick gear shifts using digital circuits will have a significant effect on the growth of the transmission housing market.
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Europe Transmission Housing Sales Outlook
The Europe region is expected to have a prominent share of the global transmission housing sales due to favorable factors such as skilled labor, government incentives for manufacturing, and a strong local market. It consists of countries such as the UK, Germany, Spain, France, and Italy, which produce the majority of automobiles in Europe.
The European automotive industry invests heavily in research and development. According to the European Automobile Manufacturers Association, European companies spend about US$ 60 billion on research and development each year, the most of any region. Since these developments are more customer-centric, European automobiles, which are recognized for their class and comfort around the world, are in higher demand.
Who are the Key Manufacturers and Suppliers of transmission housing?
Some of the leading manufacturers and suppliers include Magna International, American Axle & Manufacturing, CIE Automotive, Eaton, AISIN SEIKI, ZF Friedrichshafen, GF Casting Solutions, GFLinamar LLC, Albert Handtmann Metallgusswerk GmbH & Co. KG, Guangzhou Brace Auto Parts Co., Ltd.
The market is fragmented, but it will become less fragmented during the forecast period. Market vendors are concentrating more on the growth prospects in the fast-growing segments, while retaining their positions in the slow-growing segments, to make the most of the opportunities. Manufacturers would benefit greatly from magnesium alloy-based transmission housings and the increased use of efficient designs.
An Adaptive Approach to Modern-day Research Needs
Transmission housing Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
- Cast iron
- Magnesium Alloy
- Stainless Steel
By Vehicle Type
- Passenger Car
- Commercial Vehicle
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, Italy, France, U.K, Spain, Poland, Russia)
- South Asia and Pacific (India, ASEAN, ANZ)
- East Asia (China , Japan, South Korea)
- Middle East and Africa (GCC Countries, South Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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