The automotive gearbox market is projected to grow at a CAGR of 4.24% from USD 103.55 Billion in 2018 to USD 138.52 Billion by 2025
Because of growing consumer demand for a better driving experience and seamless gear changes, the market for automobile gearboxes is growing. Another element influencing the increase is the rise in demand for automatic and automated manual transmission cars in developing countries like China, Brazil, and India.
The manual transmission system segment is estimated to be the largest segment in the Automotive Gearbox Market, by application
The manual transmission market share in the global automotive gearbox market is anticipated to be the highest, depending on the application. This market segment commands the largest market share in developing countries like Brazil and India due to its affordability. The desire for automated transmission and automatic manual transmission in these countries has driven up the demand for manual transmission, which is currently limiting the market for manual transmission.
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Above 8 gears segment is estimated to be the fastest growing segment in the Automotive gearbox, by number of gears
During the forecast period, the automotive gearbox market for gearboxes with more than 8 gears is anticipated to develop at the fastest rate. This kind is primarily utilized in commercial and off-road vehicles because they need to be extremely durable. The expansion of this market is being driven by elements including infrastructure development and rising demand for commercial vehicles for freight transportation.
Rest of the World: Fastest growing regional market for automotive gearbox
According to estimates, the region with the quickest rate of growth for automobile gearboxes is the rest of the world. The automotive markets in Brazil, Russia, and South Africa are among the RoW markets. Due to the region’s rising automotive production, the RoW gearbox industry is expanding. The rise in vehicle demand, as well as the accessibility of inexpensive labor, affordable transportation, good environmental regulations, and adaptable export import policies in the area, are all contributing factors to this boom in automobile manufacture. Because of the potential of the Brazilian and Russian markets as well as the alluring export opportunities for established markets, OEMs are expanding into underserved areas in this region. The region has the quickest growth rate as the automotive gearbox market expands in step with the number of vehicles produced. The market is also appealing to auto gearbox makers since it is inexpensive. For instance, in 2014, the production in Brazil was increased by Aisin Seiki Co., Ltd., Aisin AI Co., Ltd., and Advics Co., Ltd. At the location of Aisin Seikis’ manufacturing facility in Itu, Sao Paulo, Aisin AI and Advics created their own manufacturing subsidiaries. Aisin AI started manufacturing manual transmissions.
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Key Market Players:
The report covers all the major players in the automotive gearbox market, including ZF Friedrichshafen (Germany), Aisin Seiki (Japan), Magna (Getrag) (Canada), Schaeffler (Germany), and BorgWarner (US).
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