The global vehicle industry's rapid expansion is expected to enhance the automotive transmission market significantly. The automotive transmission market is expected to benefit from increased mergers and acquisitions in the global automotive industry. Furthermore, growth in an individual's disposable income and the buying power of customers around the world is driving car sales, which is expected to enhance the industry. One of a vehicle's most crucial components is the transmission. It is responsible for transmitting power from the engine to the wheels. Car transmissions come in a variety of styles. Some are automated, whereas manual transmissions in stick-shift cars necessitate additional steps from the driver in order for the vehicle to function properly. In a car, where is the transmission located? Transmission is usually situated in the front of a vehicle's chassis. Automobile component makers are working hard to deliver cost-effective alternatives without sacrificing vehicle performance. To address the rising demand for transmission systems across the automotive sector, they are implementing a variety of expansion methods. Aisin Seiki Co., Ltd., for example, is concentrating its development and manufacturing skills on Toyota Motor Corp.'s manual transmission products under the Aisin AI brand. Consolidating their expertise will help enterprises to fulfill global demand and boost their manual systems business' competitiveness. The Global Automotive Transmission Market is expected to grow at a CAGR of ~6% between 2021-2027.

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Market Overview

Apart from just transmitting an engine's power to the wheels, the vehicle transmission system has a number of advantages. Due to excessive traffic and congestion, as well as overcrowded streets, the demand for automotive automatic transmission vehicles has increased in recent years, particularly in emerging nations such as India and China. Market growth is likely to be boosted by rapid technological improvements in automotive transmission production. Furthermore, owing to the shift in demand for fuel-efficient products with increased performance, the market is expected to be driven by the increasing adoption of Continuously Variable Transmission (CVT) and Dual Clutch Transmission (DCT) technologies over manual and automatic systems over the forecast period. Many automakers are now offering Intelligent Manual Transmission (IMT), which allows drivers to shift ratios without having to depress the clutch. Mergers and acquisitions in the worldwide automobile transmission market are expected to promote market growth. Modernization and an increase in an individual's disposable money are two significant elements driving the use of automated transmission systems in vehicles.

COVID-19 Impact

•       The global economy has suffered a significant setback as a result of the COVID-19 epidemic, which has had a detrimental influence on vehicle production. Supply chain interruptions have resulted as a result of COVID-19, with some production facilities grinding to a halt. Furthermore, it has had a negative influence on passenger and commercial vehicle sales, affecting demand for automotive transmission. In the past, Europe was the dominant regional market in terms of product sales; however, due to a drop in car sales in the region, the adoption rate has lately declined. Because of the economic stimulus packages and municipal limits, Europe will experience a mixed recovery cycle. According to the German Automobile Association (VDA), 5.1 million passenger automobiles were registered in Europe in the first half of 2020, down 39% from the same period in 2019. Furthermore, passenger vehicle sales in the United States fell by roughly 26% in 2020 compared to the previous year.

Global Automotive Transmission Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Transmission Type, the market is primarily studied into:

·       Manual

·       Automatic

Based on transmission type, the market is segmented into Manual and Automatic. The Automatic segment is to see the fastest growth during the forecasted period. Advances in the automotive sector, as well as improvements in automatic gearboxes, can be credited for the development. Furthermore, automatic types are more powerful and accurate, as well as being easier to operate. The high cost of these items may prevent them from being adopted in nations like India and Mexico. Over the projected period, however, changing preferences and rising consumer purchasing power in these nations are expected to boost segment expansion. In 2020, the manual type segment had the highest revenue share. The price differential between vehicles with manual and automatic transmissions is to blame for this increase. Due to price sensitivity, consumers are more likely to choose manual transmissions. Furthermore, as compared to its automatic counterpart, the manual version delivers higher mileage because the gear shifting may be manually regulated to reduce fuel consumption.

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By Vehicle Type, the market is primarily bifurcated into:

·       Passenger Car

·       Light Commercial Vehicles

·       Heavy Commercial Vehicles

Based on vehicle type, the market is segmented into Passenger Car, Light Commercial Vehicles, and Heavy Commercial Vehicles. The Passenger Car segment generated the highest revenue in 2020 and is expected to grow at the highest CAGR during the forecasted period. The demand for passenger automobiles is influenced by volatile fuel prices and transit infrastructure. The improving economic outlook in the United States and many developing nations, such as China and India, is likely to boost global demand for passenger automobiles. Furthermore, advancements in transmission technology in the passenger car segment, from 4-speed automatic transmissions to 8-speed and 9-speed automatic transmissions, have resulted in improvements in overall comfort, driving experience, and fuel efficiency, boosting segment growth.

By Fuel Type, the market is primarily bifurcated into:

·       Gasoline

·       Diesel

Based on the fuel type, the market is segmented into Gasoline and Diesel. The Actuator segment generated the highest revenue in 2020 and is expected to grow at the highest CAGR during the forecasted period. Almost all pollution criteria are met by gasoline cars. When compared to diesel engines, they are more efficient and emit less gas. Over the projected period, the segment is expected to rise due to rising gasoline demand in nations such as the United States, China, and India. According to the International Energy Agency (IEA), gasoline demand is expected to rise in the next years as a result of fast-growing markets in Asia, Central and South America, Africa, and the Middle East, which will account for almost 70% of world demand growth in 2021

Global Automotive Transmission Market Region Segmentation Includes:

·       North America

·       Europe

·       Asia Pacific

·       Rest of World

In 2020, Asia Pacific had the greatest revenue share, and it is expected to maintain its dominance while increasing at the quickest CAGR during the projection period. The presence of several important vehicle manufacturers and ancillaries in the region is driving market expansion. Companies in the Asia Pacific have been driven to implement efficient transmission networks by stringent rules. Furthermore, rising vehicle sales, particularly in countries such as China, India, Japan, and South Korea, are expected to boost regional market growth throughout the projection period. Many OEMs are eager to establish manufacturing operations in this region, particularly in growing economies like China and India. During the projection period, North America is expected to be the second-largest market. The sector is predicted to increase because of the rising demand for automatic manual transmission (AMT) across the region. Furthermore, the industry's expansion is likely to be bolstered by sophisticated manufacturing centers and a technologically advanced market.

The major players targeting the market include:

·       Eaton Corporation PLC

·       Aisin Seiki Co., Ltd.

·       BorgWarner Inc.

·       ZF Friedrichshafen AG

·       Allison Transmission, Inc.

·       Continental AG

·       Magna International Inc.

·       Jatco Ltd.

·       Schaeffler AG

·       GKN PLC

Competitive Landscape

The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating in the Global context. The specialist team of research analysts sheds light on various traits such as Global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Global Automotive Transmission Market. The major players have been analyzed using different research methodologies for getting insight views on market competition.

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Key questions resolved through this analytical market research report include:

·       What are the latest trends, new patterns, and advancements in the Global Automotive Transmission Market?

·       Which factors are influencing the Global Automotive Transmission Market over the forecast period?

·       What are the global challenges, threats, and risks in the Global Automotive Transmission Market?

·       Which factors are propelling and restraining the Global Automotive Transmission Market?

·       What are the demanding global regions of the Automotive Transmission Market?

·       What will be the market size in the upcoming years?

·       What are the crucial market acquisition strategies and policies applied by the companies?

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