New York, NY -- (SBWIRE) -- 10/11/2017 -- Introduction:
Global automotive sector is growing with decent pace after the 2008-09 recession period, and demand for automobiles in Asia Pacific region is strongest due to its rapid urbanization rate and increase in disposable income. Furthermore, due to increasing traffic in major urban areas, consumers are leaning more towards advanced transmission system such as automatic transmission (AT), continuous variable transmission (CVT), and dual clutch transmission (DCT) for smooth driving experience.
Transmission system provides smooth and comfortable drive by transmitting the optimal power from engine to wheels through gear box. Now a day's most of low range and mid-range cars comes with semi-automatic and automatic transmission system. In automatic transmission system, depending upon the electronic system used in the transmission and design of transmission system, transmission system can significantly influence the maneuverability and fuel efficiency of vehicle.
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Global Automotive Transmission Market Dynamics:
Global automotive transmission market is basically driven by global automotive production and sales. Rising demand for low range and mid-range automobile in Asia Pacific and Latin America region are fueling the growth of global automotive transmission market. Asia Pacific is thriving market for low and mid-range passenger cars and is anticipated to grow with brisk rate in forecast period of 2016-2026, which will further propel the global automotive transmission market. Rise in demand for high end cars in North America and Europe is fueling the market for advanced transmission system such as automatic transmission (AT), continuous variable transmission (CVT), and dual clutch transmission (DCT). Large adoption rate of semi-automatic transmission system and automatic transmission system in commercial vehicle is key driving factor for the growth of global automotive transmission market.
Properly designed, programmed and tuned transmission system can improve the fuel efficiency dramatically, which will help the automotive OEM to meet the stringent environmental norms in various countries.
Consumers are leaning more towards comfort of vehicle, driving experience and energy efficiency and this trend is prominent in North American countries and European countries, which may increase the demand for advanced automotive transmission.
Global Automotive Transmission Market Segmentation:
The automotive transmission market can be segmented on the basis of product type, vehicle type, and sales channel.
Global automotive transmission market can be segmented on the basis of product type such as manual transmission, automated manual transmission, automatic transmission, continuous variable transmission, and dual clutch transmission.
Furthermore, global automotive transmission market can be segmented by vehicle type such as passenger cars, light commercial vehicles, and heavy commercial vehicles.
Global automotive transmission market can be segmented on the basis of sales channel such as OEM (original equipment manufacturer) and aftermarket
Global Automotive Transmission Market: Regional Outlook
The global automotive transmission market can be segmented based on geographical region such has North America, Latin America, Western and Eastern Europe, Asia-Pacific region, Japan, and Middle East & Africa. Asia Pacific is biggest market for automotive sector and poised to healthy growth for the forecast period of 2016 – 2026. Rising demand for commercial vehicles in Asia Pacific region is also major driver for global automotive transmission system. Furthermore, North America and Europe is major market for luxury cars and sports, and is anticipated to grow at steady growth rate during forecast period. Demand of aftermarket transmission system is significant in North America and Europe which might positively impact the global automotive transmission market.
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Global Automotive Transmission Market Players
Major players identified for global automotive transmission market are:
Aisin Seiki Co., Ltd.
Allison Transmission Inc.
ZF Friedrichshafen AG