SAN FRANCISCO, August 3, 2016 /PRNewswire/ --
The global automotive transmission market size is expected to reach USD 259.1 million by 2024 according to a new report by Grand View Research, Inc. Increasing emission standards worldwide is one of the key reasons driving the growth of automotive transmission market. Gasoline engines emit toxic gasses and particles that are hazardous to the environment. Rising pollution and global warming effect has led to the implementation of various government regulation relating to vehicular emissions. Such guidelines have enforced the component suppliers to produce high-efficiency environment-friendly transmission systems for domestic and international markets.
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Further, growing adoption for Automatic Manual Transmission (AMT) in the automotive industry is expected to fuel the demand over the forecast period. AMT is more efficient than other transmission systems and is easy to manufacture at low cost. Increasing adoption of AMT across compact cars segment is anticipated to grow further over the next few years.
Growing prominence for electrified transmissions among automotive manufacturers is expected to witness increasing penetration across regions including Europe and North America. Rising focus on hybrid vehicles and their positive impact on fuel economy and emissions in these regions will contribute to the adoption of the transmission systems.
Browse full research report with TOC on "Automotive Transmission Market Analysis By Transmission Type (Manual and Automatic), By Fuel Type (Gasoline, and Diesel), By Vehicle Type (Passenger Cars, LCVs, ICVs, HCVs, Off-road, Construction, Defense and Farm Tractors) And Segment Forecasts To 2024" at: http://www.grandviewresearch.com/industry-analysis/automotive-transmission-market
Further key findings from the report suggest:
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Grand View Research has segmented the global automotive transmission market on the basis of transmission type, fuel type, vehicle type and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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