Allison Transmission (US) and ZF (Germany) are the Top Players in the Transmission Repair Market
An increase in vehicle sales and average vehicle miles traveled is propelling the growth of the transmission repair market. The transmission repair market is projected to grow at a CAGR of 3.25% during the forecast period, to reach a market size of USD 233.70 Billion by 2022. North America is estimated to be the largest market for transmission repair in 2017. The market growth in this region can be attributed to the increase in sales of commercial vehicles and average vehicle miles traveled. Asia Pacific is estimated to be the fastest growing market for transmission repair owing to the increase in the adoption rate of advanced transmission and increasing vehicle parc in markets such as China and Japan. The adoption of preventive/periodic maintenance services of transmission would grow steadily in developing countries such as China, India, and South Korea. Increased consumer preference for efficient transmission technologies such as Automatic Transmission (AT), Continuously Variable Transmission (CVT), and Dual Clutch Transmission (DCT) over the traditional manual transmission systems has helped transmission manufacturers to provide a technological advantage to global automobile manufacturers. This will directly boost the market for transmission repair globally.
The top players in the transmission repair market include Allison Transmission (US), ZF (Germany), BorgWarner (US), Schaeffler (Germany), Continental (Germany), and Mister Transmission (Canada).
Allison Transmission (US) is the largest manufacturer of transmission and offers aftermarket support in the transmission repair market. The company manufactures transmission products for on-highway vehicles, off-highway vehicles, and tracked military products. It also provides tools and training for transmission repair. In 2016, Allison Transmission generated sales of USD 1.84 billion and invested USD 92.0 million in R&D. The company has adopted the strategy of new product development to stay ahead in the transmission business across the globe. In April 2015, Allison introduced xFE fully automatic transmission models for buses. xFE automatic transmission incorporates gear ratio with Allison FuelSense technology. The gear ratio is designed to operate at low engine speed to improve fuel economy.
Another important player in the transmission repair market is ZF (Germany), which is a key transmission manufacturer and offers transmission repair support in the aftermarket. ZF provides automatic transmission, manual transmission, axle, and clutch system to OEMs and aftermarket. ZF and TRW established a joint aftermarket organization in 2016. It has an employee strength of 136,820 as of December 2016. ZF generated sales of USD 38.89 billion and invested USD 2.14 billion in R&D in 2016. Product development is the key strategy employed by the company. In September 2016, ZF introduced a range of torque converters for automatic transmissions in passenger car. The company has launched 55 new range of torque converters for automatic transmissions under Sachs brand. The product would increase fuel efficiency, deliver smooth shifting, and improve driving comfort.
Related Reports:
Transmission Repair Market by Component (Gasket & Seal, Fluid, O-ring, Transmission Filter, Gear, Clutch Plate, Pressure Plate, Oil Pump), Repair type (Transmission General Repair, Overhaul), Vehicle Type, and Region - Global Forecast to 2022
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