SEATTLE, April 26, 2022 (GLOBE NEWSWIRE) -- The global automotive transmission gears market was valued at US$ 24,356 Million in 2021 and is expected to reach US$ 47,538 Million by the end of 2030.
An automotive transmission gear is a rotation part with teeth that transmits torque by meshing with another toothed machine element or gear. From manual gear shift prototypes to automatic gear transmission systems in today's vehicles, the automotive transmission gears market has progressed rapidly. Due to enhanced product durability and vehicle fuel efficiency, automatic transmission has gained pace in the automotive gears market. A technologically designed gear system helps in the smooth operation of the engine and prevents engine losses caused by friction and lubrication.
Market Drivers
Product Differentiation Factor
As most manufacturers such as ZF Friedrichshafen AG, a global technology company, Showa corporation, a manufacturer of high-performance automotive, motorcycle and outboard suspension systems are competing to retain or increase their market share, some of the key players are investing in innovating their product offerings by integrating dual clutch transmission technology in vehicles. In order to solve the problem of high fuel prices, automotive OEMs (Original equipment manufacturer) are focusing on developing higher fuel efficiency and robust DCT (Dual-clutch transmission) technology. Integration of fast and fuel efficient dual clutch transmission has become the product differentiation factor for automotive OEMs such as Ford, BMW, and Volkswagen. DCT technology provides an option to the automotive OEMs to make their vehicles more fuel efficient.
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For instance, in October 2019, ZF Friedrichshafen AG, a technology provider in an automotive industry, launched an automatic transmission system ‘EcoLife 2’ for buses. This new automatic transmission system can reduce the fuel consumption by 3% compared to conventional automatic transmission systems.
Market Opportunities
Automotive Gear Manufacturers have High Business Potential in Passenger Car Segment in the Emerging Countries of Asia Pacific
Automakers have invested in Automated Manual Transmission (AMT) technology to significantly improve the performance and efficiency of automatic passenger cars. In the Asia Pacific region, consumer preference towards the adoption of automatic passenger vehicles is on the rise, owing to the widespread usage of the automatic manual transmission gears systems in modern cars that ease driving in traffic congestion areas. The shift in consumer preference creates immense opportunity for AMT gear manufacturers to expand their footprint in the APAC region in order to grab significant market share in the growing passenger cars market.
According to WMR Analysis 2019, in the Indian market, around 17.4% of passenger cars sold had automatic transmission gear installed in them. The market of AMT transmission gears in India has grown at a speed of 4.3% in last 5 years. However, according to Auto Tech Review magazine, a business magazine for technology, in 2020, 1 out of 5 cars sold in the Indian market come with automatic transmission gears systems.
Market Trends
The lightweight and highly durable aluminum and composite gears are estimated to gain popularity with their market registering a significant growth during the forecast period. Parallel shaft gears and skew shaft gears together are expected to account for a large market share in the overall automotive gears market over the forecast period.
The advent of green initiatives including CO2, NOX reduction, and minimizing dependency on conventional fuels across the automotive sector is motivating OEMs to opt for technologically advanced and ecofriendly solutions for existing automotive. Furthermore, government mandates on CO2 emission are also promoting the usage of renewable fuel and innovative energy-efficient automotive transmission. For instance, European Parliament and the Council adopted Regulation (EU) 2019/631 which introduces CO2 emission performance standards for new passenger cars and new vans is also promoting usage of EV (Electric Vehicle) and hybrid vehicles. EV runs solely on electric power which ultimately reduces the dependency on conventional fuels and furthermore, reduces the CO2 emission.
For instance, in September 2019, AmTech International, a manufacturer of planetary gears, planet drive parts, gearboxes & gear train assemblies, launched three variants of transmission shafts: Counter Transmission Shaft, Input Transmission Shafts, and Output Transmission Shafts. All these mentioned shafts are used in the manual transmission gearboxes.
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Competitive Landscape
Major companies operating in the global automotive transmission gears market include American Axle & Manufacturing Holdings Inc., AmTech International, Bharat Gears Ltd, Cone Drive, Dynamatic Technologies Limited, Franz Morat Holding GmbH & Co. KG, Gleason Corporation, IMS Gear SE & Co. KGaA, Robert Bosch GmbH, RSB Group, Showa Corporation, UAG LLP, and ZF Friedrichshafen AG.
Market segmentation:
- By Gear Type:
- Planetary
- Spur Gear
- Helical Gear
- Others.
- By Transmission Type:
- Manual
- Automatic
- Automated Manual Transmission (AMT)
- Dual Clutch Transmission
- Hybrid
- By Gear Material:
- Ferrous Metal
- Composite Material
- others
- By Vehicle Type:
- Passenger Vehicles
Light Commercial Vehicles - Heavy Commercial Vehicles
- Electric Vehicles
- Passenger Vehicles
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