Global Automotive Transmission Market Overview And Statistic For 2024-2033

The Business Research Company’s Automotive Transmission Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, July 18, 2024 /EINPresswire.com/ -- The global automotive transmission market has witnessed robust growth, with the market size expected to grow from $123.35 billion in 2023 to $131.61 billion in 2024, reflecting a compound annual growth rate (CAGR) of 6.7%. This growth in the historic period can be attributed to the increasing global automobile production, rising consumer preference for automatic transmissions, stringent government regulations on fuel efficiency and emissions, and the improving economic conditions worldwide.

Rising Demand for Electric and Hybrid Vehicles Drives Market Growth
The automotive transmission market is expected to continue its strong growth trajectory, reaching $171.46 billion by 2028, with a CAGR of 6.8%. This forecasted growth is driven by ongoing innovations in electric vehicle (EV) transmissions, growing demand for fuel-efficient and low-emission vehicles, and the expanding automotive industries in emerging markets. Additionally, increased adoption of advanced driver-assistance systems (ADAS) and government incentives for green technologies are further boosting market expansion.

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Major Players and Market Trends
Key players in the automotive transmission market, including Volkswagen, Toyota Motor Corporation, and General Motors Co., are focusing on developing technologically advanced products to maintain a competitive edge. Features like crawl mode and hill-start assistance enhance driving comfort and safety, addressing diverse consumer needs and driving conditions. For instance, ZF Group's Transwin series of automatic transmissions for medium and heavy-duty trucks in China exemplifies these advancements, offering precise gear shifts and optimal performance.

Innovative products such as crawl mode and hill-start assistance are gaining prominence for their ability to enhance driving comfort and safety. For example, ZF Group recently launched the Transwin series, a set of automatic transmissions for medium and heavy-duty trucks in China. This series includes 9-speed and 6-speed variants, designed to meet various user requirements and operating conditions. It caters to long-distance and urban delivery scenarios, providing features like crawl mode and hill-start assistance for enhanced driving comfort and safety. Equipped with ZF's latest software platform and OptiDrive shift system, the Transwin series ensures precise gear shifts and optimal performance under all driving conditions.

Segments
• Transmission Type: Manual Transmission, Intelligent Manual Transmission (IMT), Automated Manual Transmission (AMT), Automatic Transmission (AT), Dual-clutch Transmission, Other Transmission Types
• Engine: Internal Combustion (IC) Engine, Electric Engine
• Fuel Type: Gasoline, Diesel, Other Fuel Types
• Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle, Electric Vehicle

Geographical Insights: Asia-Pacific Leading the Market
Europe dominated the automotive transmission market in 2023, driven by significant automotive production and technological advancements. Asia-Pacific is projected to emerge as the fastest-growing region during the forecast period, fueled by rising automotive manufacturing, increasing consumer disposable income, and government initiatives promoting electric vehicle adoption.

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Automotive Transmission Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Automotive Transmission Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on automotive transmission market size, automotive transmission market drivers and trends, automotive transmission market major players, competitors' revenues, market positioning, and market growth across geographies. The automotive transmission market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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