The automotive transmission market is projected to grow from USD 59.9 billion in 2022 to USD 80.9 billion by 2027, at a CAGR of 6.2% during the forecast period. The rising demand for convenience, and comfort from the consumers and various government campaigns for promoting electric and hybrid vehicles are forcing automotive transmission manufacturers to bring technological advancements in transmissions for hybrid transmissions.
Some of the key market players include Asin Corporation (Japan), ZF Friedrichshafen (Germany), Magna International (Canada), Hyundai Transys (South Korea), JATCO (Japan), Aichi Machine industry Co. Ltd. (Japan), Allison transmissions (US), Vitesco Technologies (Germany), Schaeffler AG (Germany), Borgwarner (US), and GKN Automotive (UK). New product developments, expansions, collaborations, and supply contracts are the key strategies adopted by these players to gain traction in the automotive Transmission market.
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ZF Friedrichshafen specializes in designing, developing, and manufacturing automotive transmissions. It is one of the leading players in the automotive transmissions and offers transmissions like Manual transmissions, AT gearboxes, AMT gearboxes and hybrid transmissions. In February 2022, ZF announced expansion of its manufacturing plant, The company planned to perform simulations, testing, and system developments for applications for almost all product categories of the CVS divisions, including brake components required for ABS and EBS and powertrains (e.g., integrated automatic mechanical transmissions for autonomous driving).
Aisin Corporation is another key player in the automotive transmission market. Under the automotive transmission, the company designs and manufactures complete transmission mechanisms. In april 2019, Aisin announced the establishment of a new 50-50 joint venture in China with Anhui Ring New Group. Aisin Seiki Co., Ltd. jointly established Aisin (Anqing) Auto Parts Co., Ltd. with Anhui Ring New Group Co., Ltd. (Anhui Ring New Group) to support production expansion of passenger car automatic transmissions (ATs) in China.
Magna International offers products such as manual transmissions, 6-speed DCT, 7-speed DCT, 8-speed DCT and Etelligent Reach battery electric vehicle powertrain solution under the powertrain business segment. In January 2021, Continental partnered with Here and Leia Inc. to develop a first-in-industry integrated three-dimensional navigation system for vehicle display units. In September 2020 Magna announced to open its new facility in Kechnec, Slovakia, it will be the first powertrain metal forming solutions plant for the company in Europe.
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 2027
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