Lucintel Forecasts Automotive Transmission Market to Reach $679.9 Billion by 2028
Lucintel Forecasts Automotive Transmission Market to Reach $679.9 Billion by 2028
Blog Article
According to the recent study the automotive transmission market is projected to reach an estimated $679.9 billion by 2028 from $366.1 billion in 2022, at a CAGR of 14% from 2022 to 2028. Growth in this market is primarily driven by increasing vehicle production and growing demand for lightweight transmission systems to enhance the driving experience.
Browse 108 figures / charts and 72 tables in this 256 -page report to understand trends, opportunities and forecast in automotive transmission market by vehicle type (Compact Cars, Mid-Size Cars, Luxury Cars, SUVs, LCV, HCV, Electric Vehicles), transmission type (Automatic and Manual), engine type (IC Engine and Electric Vehicle) and region (North America, Europe, Asia Pacific, and the Rest of the World).
“Automatic transmission market is expected to remain the largest segment during the forecast period.”
Based on transmission type, the automotive transmission market is segmented into Automatic and Manual. Lucintel forecasts that the automatic transmission market is expected to remain the largest segment due to ease of operation and low maintenance cost which is driving the automatic transmission market.
“Asia pacific will dominate the automotive transmission market in near future”
Asia Pacific will remain the largest region due to high vehicle production and increasing adoption of automatic transmission in mid size and compact cars. Europe is expected to witness highest growth over the forecast period because of rapidly increasing demand for automatic transmissions in small, compact, and mid-size cars.
Major players of automotive transmission market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Aisin Seiki, Robert Bosch, ZF Friedrichshafen, Continental, Magna, Eaton Corporation, GKN, Jatco, BorgWarner, Schaeffler are among the major automotive transmission providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com
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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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