Automotive Transmission Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026
Report ID: GMI1445
Automotive Transmission Market size is projected to grow exponentially over the coming years impelled by rising demand for fuel efficient, comfortable, and lightweight driving experience, amid burgeoning traffic congestion levels.
Automotive transmission provides diverse drive ratios or gears between the engine and drive wheels of an automobile. The primary function of the device, to allow for acceleration of the vehicle from rest through a vast speed range, makes it an integral component of a vehicle’s structure, thus driving market penetration in the automotive domain.
Proliferating demand for vehicles with automatic transmission is expected to stimulate the market demand. Automatic transmissions can enable change in gear ratios, without the need for manual gear shifting. Ease of use in heavy traffic conditions and integration of the device into most mid- and low-range cars is likely to boost automatic transmission market share. Furthermore, since automatic transmission systems consist of more gears, which enable the engine to maintain its optimal RPM range for a longer period and thus consume less fuel, they can achieve more fuel efficiency than manual counterparts.
Technological innovations in recent years have asserted a significant influence on the automotive transmission industry, making automatic transmission systems faster than conventional automotive transmissions. For instance, Porsche’s dual-clutch automatic transmission system, PDKs, helps reduce gear shift times by preselecting the ensuing gear in the other half of the transmission, through the simultaneous opening and closing of the clutches.
AMT (Automatic Manual Transmission), on the other hand, is poised to gain vast prominence in the automotive transmission market space, given its high efficiency and low-cost manufacturing. Furthermore, the growing integration of AMT in compact automotive vehicles is expected to augment segmental growth over the forthcoming years.
The automotive transmission industry is bolstered by the presence of prominent local and international participants, including Magna PT (previously Getrag Corporate Group), Subaru Corporation (formerly Fuji Heavy Electricals Limited), ZF Friedrichshafen AG, Continental AG, BorgWarner Inc., Eaton Corporation, Volkswagen, Aisin Seiki Co.(Toyota), Honda, GKN PLC (Melrose Industries), General Motors, Jatco Ltd.(Nissan), Hyundai, Xtrac Limited, Allison Transmission Inc., etc.
Strategies adopted by key industry players and manufacturers to attain a competitive position in the market share includes R&D investments and partnerships, among others.
For example, Magna PT has been awarded a transmission technology production order, the largest in the firm’s history, by BMW Group. The multi-year contract includes variants of hybrid transmissions, in addition to all dual-clutch transmissions for front-wheel drive vehicles.
The massive upheaval caused by the ongoing COVID-19 pandemic has resulted in unprecedented economic setbacks across various global industries. In the wake of this impact, policy makers, investors, industry participants and others associated with the auto industry and it peripherals, including the automotive transmission market, are making persistent efforts to find a potential path to recovery in the post-pandemic era.
To that end, numerous automatic transmission industry players have initiated commendable steps to curb further economic impact on their businesses, through quick and informed decision making, strategic maneuvers and business reorganization. Honda, for instance, has resumed engine, automobile and transmission manufacturing at its US and Canada facilities, albeit with certain changes. These changes include staggering of start-ups at each facility, mandatory COVID-19 prevention training for front-line leaders, as well as implementation of safety measures and renewed work process training for associates.
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