Global Automotive gear market was valued at USD 28.40 Billion in 2015 and is projected to grow at a CAGR of 6.4% during the forecast period.

Pune, India -- (SBWire) -- 02/12/2018 --Eaton, Linamar Corporation, NSK Ltd, Bharat Gears Ltd, Neapco Inc, Mitsubishi Group, Dana Holding Corporation, Robert Bosch GmbH, ZF TRW and GKN plc and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Automotive Gear Market.

Automotive Gear Market – Overview

The Global Automotive Gear Market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of Automotive Gear will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2027, which will be a surplus growth at a moderate CAGR during the projected period (2016 -2027).

The high demand for automotive gears is due to the growth in the automotive industry. An automotive gear helps give an automobile, a smooth start to and allows the outer wheel to rotate faster than the inner wheel for safer turns. Smooth gear shifting enhances the driving experience as well as the growing demand for low-carbon-footprint technologies fuels the growth of the global automotive gears market. Moreover, rising disposable incomes and vehicle-ownership boosts the market growth. Lightweight and highly durable aluminium and composite gears are estimated to gain higher popularity during the forecast period. Focus towards high-quality products & the changing lifestyle of consumers and increasing spending power, enhance the growth of the gear market for automotive sector.

However, the high cost of advanced gear system than the conventional gear system acts as a barrier for the growth of automotive gear market.

The automotive Fuel Injection Pump market is completely dependent on the automobile industry. Thus, the increasing or decreasing demand of the automotive industry directly has an impact on the market. The total volume of four wheeler production, across the globe, in 2015, was almost 90 million units and is expected to witness further boost, and reach more than 100 million units, by the year 2020. Moreover, the increase in the sales of new vehicles has mainly been because of competitive and diverse options available for finance. The availability of finance has eased the purchase of vehicles, due to which there has been a rise in the use of automotive Fuel Injection Pump. Another factor responsible for the increase in vehicle sales is the macroeconomic development and the rise in the global middle class consumers. This is the primary factor that drives the growth of the automotive Fuel Injection Pump market and has gained prevalence in the recent times, with technological developments and rapidly increasing disposable income among consumers. Thus, the growth of the automotive Fuel Injection Pump market is expected to go hand in hand with the growth of automotive industry.

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Since 2008, the world has entered into a new era with about half of the population living in cities. This improved lifestyle had led to increase in urbanization, which has resulted in the development of a set of paradigms for both personal and commercial transportation. The increase in urbanization will lead to an increase in use of passenger and commercial vehicles, due to which there will be growth in automotive Fuel Injection Pump market. China is one of the most densely populated urban centre. The automotive market of China has experienced increased growth, which will drive the automotive technology as well as it will drive automotive Fuel Injection Pump market.

The automotive industry as a whole is a capital intensive industry. The dynamic business environment and cut throat competition in the market constantly requires influx of capital to update their technology to cope with increasing incidence of customization by the consumers. Development of hybrid vehicles, aesthetic features and climate control systems require constant research & development support thus resulting in extensive capital investment at a constant rate.

Initially manufacturers offered features such as climate control and blind spot detection among others, only in luxury vehicles, which resulted in completely alienating the majority of middle class individuals. In the current scenario, manufacturers are pushing for such feature including climate control in entry level and budget vehicles at affordable rates in order to acquire a greater market share than their competitors. Such cut throat competition in the automotive industry requires massive investments at a regular basis, thus the high capital investment in the Automotive Gear market is expected to act as a hurdle in the growth of the market due to significant entry barriers for new player which is expected to have a negative impact on the Automotive Gear market.

Industry News:

October, 2014 - Governor Pat McCrory and North Carolina Commerce Secretary Sharon Decker announced today that Linamar North Carolina, Inc., is expanding operations in Buncombe County. The company plans to create 150 new jobs and invest $115 million over the next several years in Arden, near Asheville.

January, 2018– 3M introduces 3M Trizact 5000 Sanding Discs and Hand Sheets. The 3M Trizact 5000 Sanding Discs and Hand Sheets are an innovation that changed the process for paint repair and gave painters better results and improve cycle time and customer satisfaction.

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Automotive Gear Market – Segmentation

Segmentation by Material: Comprises metallic and plastic.

Segmentation by Product Type: Comprises Planetary, Bevel, Helical, Non-Metallic and other

Segmentation by Vehicle Type: Comprises Passenger vehicle, Commercial vehicle

Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

Automotive Gear Market: Regional Analysis

Asia-Pacific market is dominating the market of automotive gear market due to growth in automotive sector. Development of automotive manufacturing industries in developing economies such as China and India are driving the market for automotive gears. The market in the developing countries is largely driven by economic growth and ongoing industrialization, which helps in production of motor vehicles and other manufacturing output.

North America is referred to as the second-largest Automotive Gears Market due to factors such as large customer base and high disposable income of end-users have fueled the demand for vehicles in the country.

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