Automotive Transmission Market

The automotive transmission market is estimated to grow from USD 62.4 billion in 2023 to USD 84.2 billion by 2028 at a CAGR of 6.2% over the forecast period. The increasing consumer preference for convenience and comfort, coupled with government initiatives promoting electric and hybrid vehicles, are the key drivers for the automotive transmission industry. This trend highlights the rapid expansion of the automotive transmission market, driven by technological advancements. These advancements are crucial for meeting changing consumer preferences and government regulations.

The automotive market is transitioning to a blend of traditional and electric transmission technologies tailored to vehicle types and regional regulations. Innovation targets enhanced efficiency, performance, and driver satisfaction, irrespective of powertrain. Companies like ZF's Modular eDrive Kit, Eaton's Gearing Solutions, Getrag, and BorgWarner are at the forefront, offering versatile, efficient, and adaptable transmission solutions to meet evolving market demands.

The automotive market is highly competitive.

Major Automotive Transmission Market Companies include

• Aisin Corporation (Japan),
• ZF Friedrichshafen AG (Germany),
• Magna International Inc. (Canada),
• JATCO Ltd. (Japan),
• Borgwarner Inc. (US).

These industry giants employ product launches, expansions, partnerships, collaborations, mergers, and acquisitions to solidify their foothold in the automotive components sector.

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ZF Friedrichshafen AG (Germany):

ZF Friedrichshafen is a major player in automotive transmissions, offering a range of products like manual, automatic, and hybrid transmissions. In December 2023, ZF Friedrichshafen AG expanded the local production of transmissions and axles in Coimbatore, India. The expansion includes a new plant catering to domestic and selected export markets. Also, in May 2023, the company launched the production line of the PowerLine 8-speed automatic transmission in the US. The production line installation is complete as part of a substantial USD 200 million investment.

Magna International Inc. (Canada):

Magna International, a significant player in the automotive transmission market, specializes in powertrain solutions, including manual and advanced transmissions like 6-speed DCT, 7-speed DCT, and 8-speed DCT, along with electric vehicle powertrains. Their global presence and technological prowess enable innovation, as seen in partnerships for three-dimensional navigation systems. With a new facility in Slovakia and a focus on hybrid and electric drivetrains, Magna supplies leading luxury car brands like GM, Ford, BMW, and Mercedes-Benz. Expanding into emerging markets like micro-mobility and autonomous shuttles, they're at the forefront of electric mobility, offering energy-recuperating braking systems and power electronics to extend vehicle range.

Aisin Corporation (Japan):

Aisin Corporation is a major player in automotive transmissions, focusing on complete transmission mechanisms. With a focus on hybrid and electric vehicles, Aisin supplies advanced transmissions to significant players like Toyota and Nissan. In September 2023, the company presented a range of electrification technologies and innovations at the 2023 Detroit Auto Show which includes advanced eAxles for enhanced energy efficiency, a 1-motor Hybrid Transmission, and a 2-motor Hybrid System for improved performance. They aim to boost revenue and market share by tapping into emerging markets like China and India. Aisin plans to enhance profitability through cost-cutting measures, workforce reallocation, and a shift toward electric vehicles and intelligent technologies. Operating globally with 136 production companies, they ensure consistent quality by standardizing processes and enhancing production technology frameworks.

Related Reports:

Automotive Transmission Market by Transmission Type (Manual Transmission, Automatic Transmission, CVT, DCT, AMT), Fuel Type, Vehicle Type, Hybrid Vehicle, Two-Wheeler Transmission, Number of Forward Gears and Region - Global Forecast to 2028

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