Automotive Transmission System Market expected to be valued at US$ 40 Bn during the forecast period 2017-2024 | CAGR 5%

Prevailing demand for low range and medium range automobiles among consumers based in emerging economies has been a strong factor providing the impetus to the growth of automotive transmission system market over the past couple of decades. With fostering vehicle electrification and frequent launch of next-gen vehicles in the automotive space, it is most likely that the sales of fully or semi-automatic automotive transmission system will witness steady growth over the next few years.

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Moreover, governments across the globe are contributing a massive share in fueling expansion of automotive transmission system market. By setting stricter regulatory norms regarding vehicular emission control, governments are compelling a growing number of automakers and technology leaders to bring electrification and fuel efficiency to bear. According to a new study on the global market for automotive transmission system, Fact.MR reveals this as among the most impactful factors pushing the revenue sales of automotive transmission system.

While the development and implementation of regulatory frameworks revolves around optimum fuel efficiency and emission control, Fact.MR anticipates the global market for automotive transmission system to gather promising pace in the near future. A recent publication by Fact.MR forecasts 5% CAGR for the global automotive transmission system market over 2017-2022, driving the revenue in excess of US$ 40 Bn by 2024 end.

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Uncontested dominance of passenger vehicles over LCVs, HCVs, and other commercial vehicle types in terms of revenue is presumed to account for over 65% share of the total value represented by the global automotive transmission system market towards to end of forecast period.

Research has confirmed time and again that the type of automotive transmission system implemented in a vehicle is imperative in shaping its fuel efficiency. Also, it has been proven that automated automotive transmission system and dual clutch automotive transmission system exhibit higher efficiency over the manual variant of automotive transmission system – in terms of gearshift comfort and reduced energy loss.

Driven by incessantly worsening traffic congestion issue in urban areas, consistently boosting consumer preference for the more convenient and flexible automotive transmission systems such as automatic, automated, dual clutch, and continuously variable – is extending strong support to these research findings. The global market for automotive transmission system will thus witness steadily thriving demand for automatic automotive transmission system; however, the revenue generation through manual automotive transmission system sales will continue to represent the maximum share in the global market for automotive transmission system through 2024.

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Hyundai recently rolled out the redesign of its flagship model Santa Fe Sport that is anticipated to enter markets in 2019 that has been anticipated to add value to the sustainability quotient of the automotive transmission system market. The engine of this new model has been exclusively equipped with an eight-speed automatic automotive transmission system, placing this car straightaway with other top contenders in the industry. Also, Hyundai engineers, with this automotive transmission system innovation, claim to have slashed down the emission output by almost 40% of the earlier model.

Although Hyundai’s technology innovation holds exclusivity with the engine of 2019 Hyundai Santa Fe Sport, the global landscape of automotive transmission system market is foreseen to witness a heap of innovations on the similar line through 2024. Hyundai Motor Company, being one of the leaders in automotive transmission system market, has been covered in the competitive landscape analysis of automotive transmission system market report by Fact.MR. Other players profiled in the report include Aisin Seiki Co., Ltd., Continental AG, Renault SA, Magna International Inc., and Eaton Corporation PLC.

Further insights on the top performing vehicle type, fuel type, and transmission type in the automotive transmission system space, and the potential growth opportunities for the players partaking in the automotive transmission system market landscape, get in touch.