Increasing demand for electric vehicle is one of the major factor that would drive the automatic transmission system market in coming years.
Albany, NY -- (SBWIRE) -- 02/07/2018 -- According to a latest report titled "Automotive Transmission Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025", a value of US$53.20 bn is estimated to be generated by the global automotive transmission market by the end of 2025. As per the report, the market was evaluated at US$ 30.02 bn in 2016, and is likely to grow at a CAGR of 6.6% during the assessment period. The report has been added to the comprehensive repository of Market Research Hub (MRH).
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The report offers qualitative information on the key factors driving the growth of the market. The drivers, restraints, opportunities, and threats impacting the market have been discussed in detail in the report. According to the report, evolving consumer expectation is one of the key factors driving the growth of the automotive transmission technology around the globe. Over the years, consumers have shown a marked affinity for comfortable driving experience, and there has been a steady surge in the sales of automatic transmission vehicles around the globe. Even in fast-growing markets of China and India, the demand for automatic transmission vehicles has witnessed a steady growth over the years.
The global automotive transmission market has been divided into various segments and sub-segments in the report for thorough analysis and these segments are type, vehicle and region. The report provides information and shares its analysis for these segments in terms of introduction and definition, key findings, market size and market attractiveness. On the basis of region, the report forecasts that Asia Pacific will continue to remain one of the most lucrative markets. Strong sales in China and India are the key factors driving the growth of the market. In terms of revenue, Asia Pacific accounted for nearly 48% revenue share of the market. On the back of growing middle class demographic and steady economic growth, Asia Pacific is likely to continue as one of the leading markets for automotive transmission over the forecast period.
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The report also offers a detailed competitive landscape analysis, highlighting the business and product strategies of key companies. Some of these major players are Continental AG, Borg warner, Eaton Corporation, Schaeffler AG, Aisin Seiki, BONFIGLIOLI RIDUTTORI S.P.A, Magneti Marelli S.p.A, ZF Friedrichshafen AG, Allison Transmission, JATCO, Hyundai Dymos, and Magna International Inc. These companies have been analyzed on the basis of key parameters, such as financials, business strategy, and product strategy.
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