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Automotive Transmission Market Forecasts to 2028 - Global Analysis By Transmission Type (Automatic Transmission, Manual Transmission and others), Vehicle Type (Passenger Cars, Light Commercial Vehicles and other Vehicle Types), Fuel Type (Diesel, Gasoline and Hybrid), Engine (Electric and IC Engine), Gear Type (Spur Gear, Planetary, Helical Gear and Other Gear Types), Gear Material and By Geography
Estimated Year Value (2022)
US $59.9 BN
Projected Year Value (2028)
US $96.1 BN
CAGR (2022 - 2028)
North America, Europe, Asia Pacific, South America, and Middle East & Africa
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa
Highest Growing Market
According to Stratistics MRC, the Global Automotive Transmission Market is accounted for $59.9 billion in 2022 and is expected to reach $96.1 billion by 2028 growing at a CAGR of 8.2% during the forecast period. A device that provides different gear or drive ratios between an automobile's engine and its wheels, primarily with the purpose of allowing the vehicle can accelerate fast from a stop and keep its engine running efficiently at varying speeds. Automotive transmission systems have features like powerful engine brakes and easy infinite gear control. The transmission systems are the main parts of a car that affect fuel economy, and an AMT system is particularly adept at providing the driver with the optimal gear at the appropriate time. A computer-controlled input shaft, a transmission pump, a hydraulic system, and other components make up this transmission.
According to the German Association of the Automotive Industry (VDA), in Europe, 5.1 million passenger cars were registered in the first half of 2020, which was 39% lesser than in 2019.
Increasing demand for light weight transmission systems
Government rules for safety, carbon emissions, and lightweight automobiles have forced OEMs to utilise parts that will help reduce the vehicle's overall weight. Manufacturers are under constant pressure to lower the pollution emissions of cars. Worldwide, buyers in industrialised nations are more likely to choose new, fuel-efficient, environmentally friendly cars with improved performance and lower pollution levels. These requirements can be met by lightweight vehicles. Manufacturers are mainly concentrating on lightening up different components of the car to further lighten up the whole thing.
High cost of adoption
Installation costs for the most recent transmission systems, like DCT and CVT, are more than those for traditional transmission systems. The high-volume market for small cars, which makes up a significant portion of the worldwide passenger car market, has still not accepted these systems. One of the main barriers for manufacturers to access the Asia-Pacific market, which is additionally a key auto manufacturing region, is the massive cost of transmission systems. This is primarily a result of consumers favouring cost-effectiveness over performance. Companies must therefore focus on their R&D in order to create these enhanced transmission systems for the small car category at a lower cost.
Increasing adoption of automatic transmissions and development of hybrid drives
Automatic vehicles are becoming more and more common as AMT is being widely used. This tendency has been influenced by increased fuel efficiency, deteriorating traffic conditions, and the progressive debunking of myths regarding automatic vehicles. Reduced fuel consumption and soft, smooth gear changes are provided by automatic gearbox, adding to driving comfort. Automatic gearbox is a safer option than manual transmission since drivers may focus more on the road and less on driving. A sizable portion of the market for manual transmissions is also anticipated to be taken up by an increasing number of electric and hybrid vehicles.
Reduction in costs for light weight and efficient transmissions
Choosing between technological advancement and cost-cutting is a challenge for the automotive industry. The fuel efficiency of a vehicle is inversely related to its weight. To meet the goals established for the upcoming years, many OEMs are actively concentrating on reducing the overall weight of their vehicle models. Price swings for raw commodities could significantly reduce market competition. By proportionally reducing the weight of the car, lightweight transmission systems make sure the car complies with the strict emission and fuel economy standards. Yet, the expense of these lightweight materials and weight-reducing alloys adds to the overall cost of manufacture. Hence, developing transmissions that are both effective and inexpensive poses a difficulty.
The COVID-19 pandemic has revealed the drawbacks of concentrating so many resources in one place that is remote from Europe, North America, and Latin America's core economic sectors. Most car parts are exported from China, and well-known auto transmission manufacturers have manufacturing operations in the impacted areas. Production of vehicles has been halted due to a shortage of parts, particularly in brakes, electrical, lighting, engine, and interior parts, as a result of a global inventory network disruption. Furthermore, shipping delays brought on by congestion at ports are likely to have an impact on how cars are put together around the world. This is then anticipated to temporarily slow the market's expansion.
The automatic transmission segment is expected to be the largest during the forecast period
The automatic transmission segment is estimated to have a lucrative growth. The expansion can be attributed to advancements in automatic transmission technology and advancements in automotive manufacturing. The automatic categorization is precise, effective, more powerful, and simpler to use. These products exorbitant prices may make them less popular in some countries, such Mexico and India. In contrast, it is predicted that, these countries' changing inclinations and expanding consumer purchasing power will support the segment’s growth over the projected period.
The passenger cars segment is expected to have the highest CAGR during the forecast period
The passenger cars segment is anticipated to witness the fastest CAGR growth during the forecast period, due to an increase in the demand for such cars in developing nations. Due to this market's growing urbanisation, which will also lead to an increase in logistics operations, transportation, and mining activities, the light and heavy commercial vehicle segments are predicted to experience strong expansion. Due to the rising popularity of these vehicles due to their zero-emission and environmentally friendly features, the electric vehicle segment is also anticipated to experience exponential growth in this market throughout the forecast period.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to rising vehicle production and shifting adoption and consumer patterns. The market for transmissions is anticipated to expand along with the growth of the global automotive industry. Emissions from the transportation industry will rise as car demand rises. In order to ensure sustainable mobility, the players in the automotive sector are concentrating on improving vehicle performance to reduce emissions. Maximizing fuel efficiency and reducing emissions are the main priorities.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to the presence of significant global automakers like Ford, Tesla, and General Motors, all of which are renowned for producing some of the most dependable vehicles. Both manual and automatic transmission production facilities are abundant in the area, which has resulted in a substantial penetration of these systems. The market has expanded in part because to the region's vast fleet of automobiles and strict emission laws.
Key players in the market
Some of the key players profiled in the Automotive Transmission Market include Eaton Corporation PLC, Aisin Seiki Co., Ltd., Allison Transmission, Inc., Continental AG, BorgWarner Inc., Magna International, Inc., Getrag, ZF Friedrichshafen AG, GKN PLC, Jatco Ltd., Hyundai Transys Inc., Schaeffler AG, Honda Motor Co., Ltd., Generac Holdings Inc., Yamaha Motor Co. Ltd., Champion Power Equipment Inc., Toshiba Corporation, Lifan Industry (Group) Co., Ltd, Briggs & Stratton Corporation and Ryobi Limited.
In September 2021, ZF announced that a volume order worth several billion euros covers the supply of conventional but primarily mild and plug-in hybrid variants of the fourth-generation 8-speed transmission (8HP).
In September 2021, Dongfeng Citroen, a brand of Dongfeng-Peugeot-Citroen Automobile Co., Ltd. (DPCA), launched its all-new C5 X luxury crossover paired with an Aisin 8-speed automated manual transmission (AMT)
In July 2021, Jatco Ltd. announced that it had developed the CVT-X, a new CVT for medium to large FWD vehicles that improve environmental performance and drivability. It has overcome the 90% transmission efficiency barrier that is considered a difficult feat for CVTs.
In February 2021, Eaton announced its Vehicle Group is developed gearing solutions for electrified vehicles (EVs). Leveraging its expertise in producing transmissions and contract manufactured gear-sets for passenger and commercial vehicles
Transmission Types Covered:
• Automatic Transmission
• Manual Transmission
• Continuous Variable Transmission (CVT)
• Dual Clutch Transmission (DCT)
• Automated Manual Transmission
Vehicle Types Covered:
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Electric Vehicles
Fuel Types Covered:
• IC Engine
Gear Types Covered:
• Spur Gear
• Helical Gear
• Other Gear Types
Gear Materials Covered:
• Composite Material
• Ferrous Metal
• Other Gear Materials
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
3 Market Trend Analysis
3.6 Emerging Markets
3.7 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Automotive Transmission Market, By Transmission Type
5.2 Automatic Transmission
5.3 Manual Transmission
5.4 Continuous Variable Transmission (CVT)
5.5 Dual Clutch Transmission (DCT)
5.6 Automated Manual Transmission
6 Global Automotive Transmission Market, By Vehicle Type
6.2 Passenger Cars
6.2.1 Compact Cars
6.2.2 Mid-Size Cars
6.2.3 Luxury Cars
6.3 Light Commercial Vehicles
6.4 Heavy Commercial Vehicles
6.5 Electric Vehicles
7 Global Automotive Transmission Market, By Fuel Type
8 Global Automotive Transmission Market, By Engine
8.3 IC Engine
9 Global Automotive Transmission Market, By Gear Type
9.2 Spur Gear
9.4 Helical Gear
9.5 Other Gear Types
10 Global Automotive Transmission Market, By Gear Material
10.2 Composite Material
10.3 Ferrous Metal
10.4 Other Gear Materials
11 Global Automotive Transmission Market, By Geography
11.2 North America
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.5 Other Key Strategies
13 Company Profiling
13.1 Eaton Corporation PLC
13.2 Aisin Seiki Co., Ltd.
13.3 Allison Transmission, Inc.
13.4 Continental AG
13.5 BorgWarner Inc.
13.6 Magna International, Inc.
13.8 ZF Friedrichshafen AG
13.9 GKN PLC
13.10 Jatco Ltd.
13.11 Hyundai Transys Inc.
13.12 Schaeffler AG
13.13 Honda Motor Co., Ltd.
13.14 Generac Holdings Inc.
13.15 Yamaha Motor Co. Ltd.
13.16 Champion Power Equipment Inc.
13.17 Toshiba Corporation
13.18 Lifan Industry (Group) Co., Ltd
13.19 Briggs & Stratton Corporation
13.20 Ryobi Limited
List of Tables
1 Global Automotive Transmission Market Outlook, By Region (2020-2028) ($MN)
2 Global Automotive Transmission Market Outlook, By Transmission Type (2020-2028) ($MN)
3 Global Automotive Transmission Market Outlook, By Automatic Transmission (2020-2028) ($MN)
4 Global Automotive Transmission Market Outlook, By Manual Transmission (2020-2028) ($MN)
5 Global Automotive Transmission Market Outlook, By Continuous Variable Transmission (CVT) (2020-2028) ($MN)
6 Global Automotive Transmission Market Outlook, By Dual Clutch Transmission (DCT) (2020-2028) ($MN)
7 Global Automotive Transmission Market Outlook, By Automated Manual Transmission (2020-2028) ($MN)
8 Global Automotive Transmission Market Outlook, By Vehicle Type (2020-2028) ($MN)
9 Global Automotive Transmission Market Outlook, By Passenger Cars (2020-2028) ($MN)
10 Global Automotive Transmission Market Outlook, By Compact Cars (2020-2028) ($MN)
11 Global Automotive Transmission Market Outlook, By Mid-Size Cars (2020-2028) ($MN)
12 Global Automotive Transmission Market Outlook, By Luxury Cars (2020-2028) ($MN)
13 Global Automotive Transmission Market Outlook, By Light Commercial Vehicles (2020-2028) ($MN)
14 Global Automotive Transmission Market Outlook, By Heavy Commercial Vehicles (2020-2028) ($MN)
15 Global Automotive Transmission Market Outlook, By Electric Vehicles (2020-2028) ($MN)
16 Global Automotive Transmission Market Outlook, By Fuel Type (2020-2028) ($MN)
17 Global Automotive Transmission Market Outlook, By Diesel (2020-2028) ($MN)
18 Global Automotive Transmission Market Outlook, By Gasoline (2020-2028) ($MN)
19 Global Automotive Transmission Market Outlook, By Hybrid (2020-2028) ($MN)
20 Global Automotive Transmission Market Outlook, By Engine (2020-2028) ($MN)
21 Global Automotive Transmission Market Outlook, By Electric (2020-2028) ($MN)
22 Global Automotive Transmission Market Outlook, By IC Engine (2020-2028) ($MN)
23 Global Automotive Transmission Market Outlook, By Gear Type (2020-2028) ($MN)
24 Global Automotive Transmission Market Outlook, By Spur Gear (2020-2028) ($MN)
25 Global Automotive Transmission Market Outlook, By Planetary (2020-2028) ($MN)
26 Global Automotive Transmission Market Outlook, By Helical Gear (2020-2028) ($MN)
27 Global Automotive Transmission Market Outlook, By Other Gear Types (2020-2028) ($MN)
28 Global Automotive Transmission Market Outlook, By Gear Material (2020-2028) ($MN)
29 Global Automotive Transmission Market Outlook, By Composite Material (2020-2028) ($MN)
30 Global Automotive Transmission Market Outlook, By Ferrous Metal (2020-2028) ($MN)
31 Global Automotive Transmission Market Outlook, By Other Gear Materials (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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