The global Automotive Transmission Gears Market is estimated to be valued at US$ 28567 Mn in 2023 and is expected to exhibit a CAGR of 8.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Automotive transmission gears are used in vehicles to change the rotational speed and torque from the engine in order to drive the wheels. Key transmission gears include spur gears, bevel gears, helical gears, planetary gears, and others. Transmission gears help in smooth transfer of torque from the engine to wheels and provide optimum power delivery for diverse driving conditions. Gears enhance the fuel efficiency and performance of vehicles. Developments in autonomous driving technologies are boosting the demand for advanced transmission gears.
Market key trends:
Adoption of autonomous driving technologies is a major trend in the automotive transmission gears market. Adaptive autonomous driving systems require precise torque transmission for safe navigation in variable driving conditions. This is driving the demand for advanced transmission gears with faster ratio shifting capacity. Manufacturers are focusing on development of lightweight transmission gears using advanced materials like carbon fiber composites. Use of composites enhances the strength and durability of gears while reducing the overall weight. Weight saving improves the fuel efficiency of vehicles. Growing demand for lightweight electric vehicles is projected to accelerate the shift towards composite transmission gears.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate to low in the automotive transmission gears market as it requires high capital investment to build manufacturing infrastructure and technical expertise. Additionally, established brands have sizable economies of scale.
Bargaining power of buyers: The bargaining power of buyers is moderate as gear systems are not a highly differentiated product and original equipment manufacturers have considerable influence on suppliers. However, switching costs are also moderately high.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. While there are many parts suppliers, switching costs are moderately high due to validation and product testing requirements.
Threat of new substitutes: There is a low threat of substitute products and technologies as gears have irreplaceable role in automobile transmissions. However, continuously variable transmission technology could grab some market share in future.
Competitive rivalry: Competition is intense among global automotive transmission gear manufacturers.
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 vehicular production and performance enhancement in automotive transmissions.
Regional analysis: Asia Pacific dominates the global automotive transmission gears market and is expected to maintain its leading position during the forecast period, growing at a CAGR of over 9%. This can be attributed to high vehicle production in China and India. Europe and North America are also significant markets owing to presence of tier-1 suppliers and emphasis on dual clutch transmissions.
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. U.S. based American Axle & Manufacturing Holdings Inc. and Germany based ZF Friedrichshafen AG dominate the global market.
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https://marketwebjournal.com/automotive-transmission-gears-market-demand-size-and-analysis/
