The global Pinion Gear market size was USD 6.0 billion in 2022 and is expected to reach a value of USD 9.31 billion in 2032 and register a revenue CAGR of 5% during the forecast period. The increasing sales of passenger automobiles, the rising need for fuel-efficient vehicles, and the expanding demand for electric and Hybrid Vehicles are the main drivers of the market revenue growth.
The vehicle transmission system, which makes it easier to transfer power from the engine to the wheels, must include pinion gears. The automobile industry is moving towards lightweight and compact designs that require high-quality pinion gears as a result of the rising demand for fuel-efficient vehicles. Manufacturers are spending money on Research and Development (R&D) to create cutting-edge pinion gear designs that offer lighter weight, better fuel efficiency, and greater durability. The market revenue growth for Pinion Gear s is being driven by this.
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In addition, the popularity of hybrid and electric cars is increasing demand for Pinion Gear s. In order to suit the electric motor’s characteristics, the transmission system and its components must be specially designed since electric and hybrid vehicles function differently from conventional gasoline-powered vehicles. The demand for specially manufactured pinion gears for electric and hybrid vehicles is being driven by this.
Moreover, the need for Pinion Gear s is being driven by the rising sales of passenger cars. People are choosing passenger automobiles more and more due to rising disposable money and shifting lifestyles. Both manual and automatic transmission systems include pinion gears, which are a crucial component of the car transmission system. The need for Pinion Gear s is therefore being driven by the increase in passenger car sales.
In addition, the growing focus on lowering carbon emissions is driving up demand for automobile pinion gears. Globally, governments are enacting strict measures to lower automobile carbon emissions. This is fueling the desire for eco-friendly and fuel-efficient cars, which is fueling the demand for high-performance, lightweight Pinion Gear s.
- GKN Automotive Limited
- Bharat Gears Ltd.
- American Axle & Manufacturing, Inc.
- Showa Corporation
- ZF Friedrichshafen AG
- Dana Incorporated
- Meritor, Inc.
- JTEKT Corporation
- NSK Ltd.
- Linamar Corporation
The global market is further segmented into type and application:
|By Material Type Outlook||
|By Vehicle Type Outlook||
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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