July 17, 2024

Electric Vehicles Driving Growth of the Global Automotive Transmission Gears Market

Market Overview:

Automotive transmission gears refer to gears used in the transmission system of automobiles to transmit power from the engine to the wheels. Gears provide efficient torque transformation and enable smooth transmission of power from one rotating shaft to another. They are critical components that play a vital role in operations of automobiles.

Market key trends:

One of the key trends in the automotive transmission gears market is the rising demand for electric vehicles. Manufacturers are focusing on developing lightweight and efficient transmission gear systems for electric vehicles. For instance, while conventional vehicles require multi-gear transmissions, electric vehicles often use single speed transmissions for better performance and efficiency. Also, with growing demand for zero emission vehicles, more automakers are investing in electric mobility. This is expected to propel the demand for improved transmission gear systems tailored for electric powertrains over the forecast period.

Segment Analysis
The automotive transmission gears market is segmented by type into automatic transmission gear and manual transmission gear. The automatic transmission gear segment dominated the market in 2022 and is expected to continue its dominance during the forecast period. The growth of this segment can be attributed to the increasing demand for comfortable and convenient driving experience among consumers. Automatic transmission gear provides seamless shift changes without any interruption in power delivery, thus enhancing driving convenience.

Key Takeaways
The Global Automotive Transmission Gears Market Demand is expected to witness high growth, exhibiting CAGR of 8.3% over the forecast period, due to increasing vehicle production across the world.

Regional Analysis
Asia Pacific dominated the global market in 2022 and is expected to grow at the highest CAGR during the forecast period. China accounted for the major share in Asia Pacific market owing to the large production base of automotive in the country.

Key Players
Key players operating in the automotive transmission gears market are American Axle & Manufacturing Holdings Inc., AmTech International, Bharat Gears Ltd, Cone Drive, Dynamatic Technologies Limited, Franz Morat Holding GmbH & Co. KG, Gleason Corporation, IMS Gear SE & Co. KGaA, Robert Bosch GmbH, RSB Group, Showa Corporation, UAG LLP, and ZF Friedrichshafen AG.

Note:

  1. Source: Coherent Market Insights, Public sources, Desk research

   2. We have leveraged AI tools to mine information and compile it