July 17, 2024

Automotive Transmission Gears Market are Engineered for Superior Performance and Efficiency

Automotive transmission gears are integral components in modern automobiles that help transmit torque from the engine to drive the wheels of the vehicle. They come in a variety of designs based on the type of transmission system including manual, automatic, continuously variable, and dual-clutch transmissions. Transmission gears play a crucial role in efficiently transferring power from one rotating shaft to another with precision and durability using gear trains and layshafts. Their hardened steel construction and precisely cut teething patterns allow for smooth shifting across gears under varying speeds and loads.

The global Automotive Transmission Gears Market is estimated to be valued at US$ 28567 Mn in 2024 and is expected to exhibit a CAGR of 6.6% over the forecast period 2024-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Manufacturers are focusing on developing transmission gears using advanced alloys that are stronger, lighter, and more durable than conventional steel alloys. For instance, aluminum alloys, titanium alloys, and magnesium alloys are now commonly used for manufacturing transmission gears to reduce weight and improve fuel efficiency of vehicles without compromising on strength. Furthermore, surface coating technologies such as nitriding and carbonitriding are gaining traction, as they help increase the surface hardness and reduce friction of transmission gears resulting in enhanced performance and lifespan. 3D printing technology is also being leveraged for prototyping as well as manufacturing of customized transmission gears with complex geometries, thereby facilitating product innovation.

Porter’s Analysis
Threat of new entrants: The automotive transmission gears market requires high capital investment and technical know-how. Brand loyalty as well as strong relationships with automobile manufacturers create significant entry barriers.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of a wide range of transmission gear suppliers. However, stringent quality checks and customized requirements for automobile manufacturers increase buyers’ power.
Bargaining power of suppliers: Major suppliers possess strong bargaining power due to their differentiated technologies and expertise. However, the increasing number of regional players limits the suppliers’ dominance.
Threat of new substitutes: There exists no close substitute for transmission gears as all vehicles require them. However, continuous technology evolution can pose a potential threat from alternative powertrain technologies.
Competitive rivalry: The automotive transmission gears market features intense competition among global and regional players. Key players compete based on pricing, product innovation, reliability, and delivery.

Key Takeaways

The Global Automotive Transmission Gears Market Size is expected to witness high growth.

Regional analysis: Asia Pacific is projected to be the fastest growing as well as the largest market for automotive transmission gears during the forecast period. Abundant availability of raw materials and low-cost manufacturing boost production in the region. Countries such as China and India represent major markets, with growing automotive Component outsourcing contributing to regional expansion.

Key players: Key players operating in the automotive transmission gears market are Novartis AG, Gilead Sciences, Inc., Castle Creek Biosciences, Inc., Lineage Cell Therapeutics, Inc., Transgene SA, Cellectis, ImmunityBio, Inc., Sorrento Therapeutics, bluebird bio, Inc., Arcellx, Sana Biotechnology, Inc., Biodesix, Inc, and Laurus Labs. Novartis AG and Gilead Sciences, Inc. are the leading players focusing on strategic partnerships and new product launches to strengthen their market position.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it