Automotive Transmission Market

Automotive Transmission Market Size & Share - Future Growth Expectations

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 transmission market is poised for substantial growth in the coming years, driven by several key factors:

  • Increasing Vehicle Production
  • Technological Advancements
  • Stringent Emission Regulations
  • Rising Demand for Fuel-Efficient Vehicles
  • Shift towards Electric Vehicles (EVs) and Hybrid Vehicles
  • Urbanization and Traffic Congestion
  • Focus on Vehicle Performance and Driving Experience
  • Emerging Markets
  • Aftermarket Demand

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Increasing Vehicle Production: 

  • The developing interest for cars around the world, especially in developing business sectors, is driving the requirement for car transmissions.
Technological Advancements: 
  • Continuous developments in transmission innovation, like jolt, high level materials, and further developed productivity, are powering market development.
Stringent Emission Regulations: 
  • Stricter discharge principles are provoking auto producers to embrace more effective transmission frameworks to decrease fuel utilization and outflows.
Rising Demand for Fuel-Efficient Vehicles: 
  • Buyer inclinations for eco-friendly vehicles are prompting the reception of transmissions that improve mileage and lessen working expenses.
Shift towards Electric Vehicles (EVs) and Hybrid Vehicles: 
  • The rising reception of electric and crossover vehicles requires specific transmission frameworks custom-made for energized powertrains, driving interest on the lookout.
Urbanization and Traffic Congestion: 
  • Urbanization and clog in urban areas are driving the interest for programmed transmissions and robotized manual transmissions (AMTs) that offer comfort and usability in unpredictable rush hour gridlock conditions.
Focus on Vehicle Performance and Driving Experience: 
  • Car producers are focusing on transmissions that convey smoother moving, further developed speed increase, and improved driving elements to meet purchaser assumptions for vehicle execution and solace.
Emerging Markets: 
  • Market extension in arising economies, combined with rising dispensable salaries and foundation improvement, presents learning experiences for auto transmission producers.
Aftermarket Demand: 
  • The reseller's exchange interest for transmission parts, including new parts and overhauls, adds to the general development of the auto transmission market.

Automotive Transmission Market Share - Global Industry Landscape

The automotive transmission market is characterized by the presence of several key players competing for market share. Some of the leading companies in the automotive transmission industry include:

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

While specific market share data may vary based on factors such as region, product offerings, and industry dynamics, these companies are significant players in the automotive transmission industry, contributing to the development and advancement of transmission technology globally. 

Aisin Corporation (Japan):

  • Aisin Corporation is a leading Japanese automotive parts manufacturer, known for its transmission systems, including automatic, manual, and continuously variable transmissions (CVTs).
  • Aisin Corporation has a significant market presence globally, supplying transmissions to various automotive manufacturers.

ZF Friedrichshafen AG (Germany):

  • ZF Friedrichshafen AG is a prominent German automotive supplier specializing in transmission technology, including manual transmissions, automatic transmissions, and hybrid drivetrains.
  • ZF is one of the largest transmission manufacturers globally, serving major automotive OEMs across different vehicle segments.

Magna International Inc. (Canada):

  • Magna International Inc. is a Canadian automotive supplier that manufactures a wide range of automotive components, including transmissions and drivetrain systems.
  • Magna is known for its expertise in transmission design, manufacturing, and integration, serving automotive manufacturers worldwide.

JATCO Ltd. (Japan):

  • JATCO Ltd. is a Japanese manufacturer of automatic transmissions, specializing in continuously variable transmissions (CVTs) and automatic transmission systems.
  • JATCO has a significant market share in the global automotive transmission market, supplying transmissions to various automakers.

BorgWarner Inc. (US):

  • BorgWarner Inc. is an American automotive supplier known for its transmission components and systems, including clutches, gears, and transmission control modules.
  • BorgWarner supplies transmission technologies to automotive manufacturers worldwide, contributing to the global automotive transmission market.

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


Automotive Transmission Market Size,  Share & Growth Report
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AT 3570
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