Automotive Gears Market report categorizes the global market by Application (Transmission, Differential, Steering System, Other), Product Type (Planetary, Bevel, Rack & Pinion, Hypoid, Worm, Helical, Non-Metallic), Material (Metallic, Non-Metallic), by Vehicle Type, & Region
Northbrook, IL -- (SBWIRE) -- 10/11/2018 -- The Automotive Gears Market is projected to grow at a CAGR of 6.1% from 2015 to 2020. The market is estimated to be USD 28.47 Billion in 2015 and is projected to reach USD 38.27 Billion by 2020.
Smooth gear shifting (which enhances the driving experience) and the growing demand for low-carbon-footprint technologies are some of the key drivers fueling the growth of the global automotive gears market.
Planetary gears: A promising market
Planetary gears are estimated to dominate the global automotive gears market, in terms of value, in 2015. Planetary gear systems are used in various automotive applications, including transmission and differential systems. The growth of planetary gears can also be attributed to the growing demand for low-carbon-footprint technologies, as these gear systems enable the vehicle's engine to run at an optimum level, thereby reducing engine losses that may result from friction and lubrication. The planetary gears segment of the global automotive gears market, in terms of value, is projected to grow at the highest CAGR during the forecast period.
Download PDF Brochure: https://tinyurl.com/y8hn3qyd,
Asia-Pacific: Largest market for automotive gears
Asia-Pacific accounted for the largest share of the global automotive gears market in 2015. The region generates high demand for vehicles with advanced features. OEMs are subsequently increasing production capacity and expanding technical centers to meet the demand for these vehicles. The automotive industry in Asia-Pacific has witnessed a year-on-year increase in sales. The region is the leading producer of automobiles in the world.
North America is estimated to constitute the second-largest automotive gears market, by value, in 2015. The region is dominated by domestic OEMs such as Ford Motors Co. (U.S.), General Motors Co. (U.S.), and Fiat-Chrysler Automotive (U.S.). The U.S. alone has 32 manufacturing facilities dedicated to vehicle production. The large customer base and high disposable income of end-users have fueled the demand for vehicles in the country, which has resulted in increased manufacturing activities by local automotive OEMs. The growing North American automotive market represents several opportunities for manufacturers of automotive gears and other automotive parts.
The European region has been segmented into Germany, France, the U.K., and Italy. Europe is estimated to account for the third-largest share in the global automotive gears market in 2015. The European automotive gears market is projected to grow at a promising CAGR during the forecast period.
To Know More Speak to Analyst: https://tinyurl.com/y8t2tgu9
The report analyzes all major players in the automotive gears market, including Robert Bosch GmbH (Germany), GKN plc (U.K.), Showa Corporation (Japan), Bharat Gears (India), and ZF TRW (U.S.), along with numerous local players.
It covers the automotive gears market, in terms of volume (million units) and value (USD million). It explains the qualitative and quantitative aspects of the market on the basis of region, application, product type, material type, and vehicle type from 2015 to 2020. It also provides an overview of technical factors and other important aspects of the automotive gears market.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.