55% of automotive transmission systems sales accounted for by gasoline vehicles
ESOMAR-certified market research and consulting firm 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.
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 Senior Research 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 uses 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