Automotive Transmission Market Surges to USD 343.89 Billion by 2031, Propelled by 6% CAGR – Verified Market Research®

The automotive transmission market is driven by the increasing demand for fuel-efficient vehicles, technological advancements in transmission systems, and the rising production of automobiles globally. However, market growth is restrained by high costs associated with advanced transmission systems and the complexities involved in their integration and maintenance. Additionally, the transition to electric vehicles, which use simpler transmission systems, poses a challenge to the traditional automotive transmission market.

Lewes, Delaware, June 24, 2024 (GLOBE NEWSWIRE) — The Global Automotive Transmission Market is projected to grow at a CAGR of 6% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 215.76 Billion in 2024 and is expected to reach USD 343.89 Billion by the end of the forecast period.

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Browse in-depth TOC onGlobal Automotive Transmission Market

202 – Pages

126 – Tables

37 – Figures

Scope Of The Report

STUDY PERIOD 2020-2031
UNIT Value (USD Billion)
KEY COMPANIES PROFILED Aisin Seiki Company Ltd., GKN PLC, ZF Friedrischschafen AG, Continental AG, Magna International Inc., Borgwarner Inc.
SEGMENTS COVERED By Transmission Type, By Vehicle Type, By Fuel Type, By Geography.
CUSTOMIZATION SCOPE Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope.

Automotive Transmission Market Overview

Rising Demand for Fuel Efficiency: The Automotive Transmission Market is driven by the demand for fuel-efficient vehicles. In order to satisfy consumer demand for improved fuel economy and regulatory standards, manufacturers are emphasizing the development of innovative transmission systems. This change fosters market expansion, providing lucrative prospects for industry participants.

Technological Advancements: The Automotive Transmission Market is being transformed by state-of-the-art transmission technologies. Dual-clutch and continuously variable transmissions (CVTs) are among the innovations that have attracted automakers to employ these advanced solutions, thereby driving market expansion, as they enhance performance and efficiency.

Global Automobile Production: The Automotive Transmission Market is substantially stimulated by the increase in global automobile production. The demand for vehicles in emerging economies is on the rise, which directly affects the need for efficient and reliable transmission systems, thereby fostering market growth, as a result of accelerated industrialization and urbanization.

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High Costs of Advanced Systems: In the Automotive Transmission Market, the expensive costs of advanced transmission systems serve as a constraint. These costs have the potential to impede the growth of the overall market, despite the technological advantages, by discouraging lesser manufacturers and restricting the adoption rate among cost-sensitive segments.

Complexity in Integration and Maintenance: The Automotive Transmission Market faces a challenge due to the high level of complexity associated with the integration and maintenance of sophisticated transmission systems. The operational costs of manufacturers and service providers are expected to increase as a result of the necessity to invest in specialized training and equipment, which may impede extensive adoption.

Transition to Electric Vehicles: Significant constraints are imposed on the Automotive Transmission Market by the automotive industry’s transition to electric vehicles (EVs). The demand for conventional automotive transmissions is reduced by the use of simpler transmission systems in EVs, which forces market participants to adjust to the changing landscape.

Geographic Dominance:

The Automotive Transmission Market is primarily dominated by the Asia-Pacific region, which is characterized by a substantial automotive manufacturing base and a high demand for vehicles, particularly in countries such as China, Japan, and India. A center for both production and innovation in automotive transmissions, this region is characterized by cost-effective labor, advanced manufacturing technologies, and supportive government policies. Furthermore, North America and Europe maintain substantial market shares as a result of their emphasis on sophisticated technologies and the high demand for efficient vehicles among consumers.

Automotive Transmission Market Key Players Shaping the Future

Major players, including Aisin Seiki Company Ltd., GKN PLC, ZF Friedrischschafen AG, Continental AG, Magna International Inc., Borgwarner Inc. and more, play a pivotal role in shaping the future of the Automotive Transmission Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry’s key players.

Automotive Transmission Market Segment Analysis

Based on the research, Verified Market Research® has segmented the global Automotive Transmission Market into Transmission Type, Vehicle Type, Fuel Type, And Geography.

To get market data, market insights, and a comprehensive analysis of the Global Automotive Transmission Market, please Contact Verified Market Research®.

  • Automotive Transmission Market, by Transmission Type
    • Manual Transmission
    • Dual Clutch Transmission
    • Continuously Variable Transmission
    • Automatic Transmission
    • Automated Manual Transmission
  • Automotive Transmission Market, by Vehicle Type
    • Passenger Cars
    • LCVs
    • HCVs
    • Electric Vehicles
  • Automotive Transmission Market, by Fuel Type
    • Gasoline
    • Diesel
    • Others
  • Automotive Transmission Market, by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

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