The global automotive transmission market size is expected to reach USD 259.1 million by 2024 according to a new report by Grand View Research, Inc. Increasing emission standards worldwide is one of the key reasons driving the growth of automotive transmission market. Gasoline engines emit toxic gasses and particles that are hazardous to the environment. Rising pollution and global warming effect has led to the implementation of various government regulation relating to vehicular emissions. Such guidelines have enforced the component suppliers to produce high-efficiency environment-friendly transmission systems for domestic and international markets.
Further, growing adoption for Automatic Manual Transmission (AMT) in the automotive industry is expected to fuel the demand over the forecast period. AMT is more efficient than other transmission systems and is easy to manufacture at low cost. Increasing adoption of AMT across compact cars segment is anticipated to grow further over the next few years.
Growing prominence for electrified transmissions among automotive manufacturers is expected to witness increasing penetration across regions including Europe and North America. Rising focus on hybrid vehicles and their positive impact on fuel economy and emissions in these regions will contribute to the adoption of the transmission systems.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/automotive-transmission-market
Further key findings from the report suggest:
·
Automatic segment is anticipated to grow at CAGR
of over 8.0% from 2016 to 2024. Advancements in the automotive industry and
improvement in transmissions are leading to a shift towards automatic
transmission segment. Automatic transmissions are easier to operate, efficient
and accurate. Improvements in the function and fuel economy of automatic
transmissions is essentially hampering the growth of manual transmission in the
U.S.
·
Diesel fuel type segment is expected to witness
substantial growth at a CAGR of over 7.6% from 2016 to 2024. Growing demand for
diesel engines is due to the high compression ratio, which allows better
efficiency compared to gasoline engines. Moreover, these engines are
prominently used in the SUVs segment cars across the world.
·
Passenger cars segmented dominated the industry
in 2015, which is expected to grow at a CAGR of nearly 8.0% over the forecast
period. Rising demand for luxury vehicles with advanced features such as
improved fuel economy and high efficiency owing to the rising disposable income
of the countries such as India is anticipated to drive the demand. Off-road
vehicle such as ATVs, Hummer vehicles, Monster trucks, Jeep vehicles and
four-wheel drive systems are gaining popularity and is expected to drive the
market over the next eight years.
·
Stringent guidelines across the globe are
anticipated to regulate the automotive transmission market over the future.
Asia Pacific dominated the industry in 2015 and is expected to remain the same
by 2024. Increasing automotive sales especially in countries such as Japan,
India, China and South Korea is projected to favorably impact the market over
the forecast period.
·
Key industry participants include Aisin Seiki
Co., Ltd., Allison Transmission Inc., BorgWarner Inc., Continental AG, Eaton
Corporation PLC, Getrag, GKN PLC, Magna International Inc., Jatco Ltd., and ZF
Friedrichshafen AG. Automotive manufacturers in the industry are investing
immensely in its R&D operations to match the changing technological demands
across the industry.
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/automotive-and-transportation
Grand View Research has segmented the global automotive transmission market on the basis of transmission type, fuel type, vehicle type and region:
Automotive Transmission Type Outlook (Revenue, USD Million, 2014 - 2024)
·
Manual
·
Automatic
Automotive Transmission Fuel Type Outlook (Revenue, USD Million,
2014 - 2024)
·
Gasoline
·
Diesel
·
Others
Automotive Transmission Vehicle Type Outlook (Revenue, USD Million,
2014 - 2024)
·
Passenger cars
·
LCVs
·
ICVs
·
HCVs
·
Off-road
·
Construction
·
Defense
·
Farm Tractors
Automotive Transmission Regional Outlook (USD Million, 2014 - 2024)
·
North America
·
Europe
·
Asia Pacific
·
RoW
For free press release of this report - http://www.grandviewresearch.com/press-release/global-automotive-transmission-market
No comments:
Post a Comment