The global Transmission market size was USD 179.76 billion in 2022 and is expected to reach a value of USD 330.48 billion in 2030 and register a revenue CAGR of 7% during the forecast period. The demand for automatic transmission systems in passenger cars and commercial trucks is rising, transmission technology is advancing, and government laws requiring fuel efficiency and emissions reduction are all contributing reasons to the market’s growth.
The convenience, fuel efficiency, and ease of use that automatic transmission systems provide in comparison to manual transmission systems are what are driving the increase in demand for them. The market for automobile transmissions is expected to rise as automatic transmission systems become more common in Passenger Vehicles such sedans, SUVs, and hatchbacks. Also, the expanding need for commercial vehicles such as buses, trucks, and trailers is expected to fuel market expansion.
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Transmission system technological developments are also helping the market expand. Manufacturers are working on cutting-edge transmission systems that provide better fuel economy and lower pollutants. For instance, compared to conventional gasoline engines, hybrid transmission systems, which mix electric and gasoline power, offer better fuel efficiency and lower pollutants.
Government rules demanding fuel efficiency and emissions reduction are also driving the expansion of the vehicle transmission market. Globally, governments are enacting stringent laws to lower carbon emissions and increase vehicle fuel efficiency. The Corporate Average Fuel Economy (CAFE) rules, for instance, in the US require automakers to boost the average fuel economy of their vehicles to 54.5 miles per gallon by 2025.
Due to the rising demand for vehicles in nations like China, India, and Japan, the Transmission market is also expanding significantly in the Asia-Pacific region. The demand for vehicles in these nations is being driven by the expansion of the middle class and rising disposable income levels. In addition, the region’s market is expanding as more attention is paid to cutting carbon emissions and enhancing fuel economy.
Competitive Landscape:
- ZF Friedrichshafen AG
- BorgWarner Inc.
- Aisin Seiki Co. Ltd.
- Eaton Corporation
- Allison Transmission Holdings Inc.
- Magna International Inc.
- JATCO Ltd.
- GKN plc
- Schaeffler Technologies AG & Co. KG
- Continental AG
The global market is further segmented into type and application:
| By Transmission 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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