PUNE, India, December 5, 2016 /PRNewswire/ --
The report "Automotive Transmission Market by Type (Automatic, Manual, AMT, DCT, CVT), Vehicle type (Passenger Car, LCV, HCV, & Electric Vehicle), Number of Forward Gears, Fuel, & Region (Asia-Pacific, North America, Europe, RoW) - Global Forecast to 2021", published by MarketsandMarkets, the market is projected to grow at a CAGR of 5.89%, to reach a market size of USD 196.20 Billion by 2021.
Browse 86 market data Tables and 79 Figures spread through 150 Pages and in-depth TOC on "Automotive Transmission Market"
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The market is driven by factors such as enhanced driving experience in terms of smooth gear shifting and improved acceleration and the growing demand for low carbon footprint technologies.
AT leading the Automotive Transmission Market- due to growing demand for low carbon footprint technologies such as (continuously variable transmission) CVT and dual-clutch transmission (DCT)
The rise in pollution levels in major cities has prompted the need for environmental regulations across the globe. The continuously varying fuel prices and unstable demand pattern has ensured that OEMs develop systems which will help to improve fuel efficiency. These factors are projected to drive the demand for automotive transmission systems. Transmission systems like DCT, CVT and AMT are poised to benefit from these factors owing to their fuel efficient performance. These transmission systems are being adopted to meet the growing demand for eco-friendly vehicles.
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Passenger Car: Leading vehicle type in Automotive Transmission Market
The Automotive Transmission Market for the passenger car segment has the highest share in terms of value and volume as compared to other vehicle segments in 2016. The overall increased automobile production across the world has led to the increase in the Automotive Transmission Market.
Asia-Pacific to be the largest market for automotive transmissions
Asia-Pacific is estimated to dominate the Automotive Transmission Market, and is projected to grow at the highest CAGR during the forecast period. The region has emerged as a hub for alternative fuel passenger cars in recent years, with China and Japan as the frontrunners. Governments in the region are also trying promote the sales of alternate fuel vehicles through incentives and tax deductions.
The global Transmission Market is dominated by many international as well as local players such as Aisin Seiki Co. (Japan), ZF Friedrichshafen AG (Germany), Getrag Corporate Group (Germany), Jatco Ltd. (Japan), and Magna Powertrain (U.S.).
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