The torque, speed, and direction of the power supply can all be changed with geared devices. These systems gain a mechanical advantage by changing the gear ratio, which results in a torque change. Gear transmission is made up of two or more meshing gears that work in a specific order. In automobile systems, gears play an important role. Two or more meshing gears functioning in a particular sequence are known as a gear transmission. Gears are a significant component in the automotive systems. Due to enhanced product durability and vehicle fuel efficiency, automatic transmission has gained pace in the automotive transmission gears market. A technologically designed gear system aids in the smooth operation of the engine and prevents engine losses caused by friction and lubrication.
Furthermore, new prospects for the automotive transmission gear market are projected to arise as the automotive sector develops in emerging nations such as India and Brazil.
The global automotive transmission gears market was valued at US$ 24,356.1Mn in 2021 and is expected to reach US$ 47,538 Mn by 2030, at a CAGR of 8.3% between 2022 and 2030.
Global Automobile Transmission Gears Market - Impact of Coronavirus (Covid-19) Pandemic
COVID-19 pandemic has shutdown the production of various products in the global automotive gears industry, mainly owing to the prolonged lockdown in major countries, globally. The production across industries has been limited due to the pandemic resulting in the shortage of raw materials for automotive transmission gears. The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the U.K., and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery. Suppliers of auto-parts have partially resumed manufacturing operations, as cash liquidity is posing a severe challenge for them, owing to pre-shutdown payments dry-ups. This leads to a supply chain choke-points and slowdown in the manufacturing process of automakers. However, the suppliers are making substantial moves to ramp-up their operations and purchase raw materials, though it is going to be a high pressing issue in a short-order timespan.
Global Automobile Transmission Gears Market - Restraint
The automotive industry is shifting from traditional gasoline vehicles to electric automobiles globally. When compared to traditional fuels burning within IC engines, an electric vehicle does not require gears because the electric engine generates more force at zeroRPM, a hands-free control system. Product pricing is one of the key factors that needs to be taken into consideration while designing marketing strategies. Competitive product pricing strongly influences the market demand for gearing systems, in the price sensitive markets of region such as Europe, Asia Pacific, and others.
Among regions, Asia Pacific held a dominant position in the global automatic transmission gear market in 2021 Statistics:
The Asia Pacific held a dominant position in the global satellite internet market in 2021, accounting for 6.2% share, in terms of value, followed by Europe and North America.
Figure 1: Global Automotive Transmission Gears Market Share (%), By Region, 2021
The Asia Pacific is expected to witness significant growth in the global automotive transmission gears market. Asia Pacific region is the largest market for automotive transmission gears, wherein countries such as China and India have a majority of share of a vehicle installed with manual transmission. Furthermore, in India, the new models of low-end and high-end passenger vehicles are equipped with Automatic Manual Transmission (AMT) systems. For instance, in 2014, the Maruti Suzuki, an Indian automobile manufacturer, based in New Delhi, launched its first passenger car ‘Celerio’ installed with Automatic Manual Technology in India.
Automotive Transmission Gears Market Report Coverage
|Base Year:||2021||Market Size in 2021:||US$ 24,356.1 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2022 to 2030|
|Forecast Period 2022 to 2030 CAGR:||8.3%||2030 Value Projection:||US$ 47,538 Mn|
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
|Restraints & Challenges:||
Hybrid segment is expected to drive the market growth during the forecast period
On the basis of transmission type, the global automotive transmission gears is segmented in to Manual, Automatic, Automated Manual Transmission (AMT), Dual Clutch Transmission, and Hybrid. Hybrid based segment is expected to show highest CAGR of 10.8%, in terms of value, during the forecast period 2022–2030.
For instance, in August 2019, BorgWarner Inc., an American multinational automotive supplier, showcased its new integrated drive module (iDM) at the International Motor Show, the world's largest mobility show in Germany. The company also presented its P2 hybrid modules which can convert combustion-powered vehicles to hybrid vehicles without changing the transmission system.
Figure 2: Global Automotive Transmission Gears Market Value (US$ Mn) Analysis and Forecast, 2017 - 2030
Major players 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.
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