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Industrial And Automotive Power Transmission Products Market

Industrial and Automotive Power Transmission Products Market Forecasts to 2028 – Global Analysis By Product (Gear Drives, Couplings), Application (Automotive, Industrial), End User, and By Geography

4.6 (96 reviews)
Published: May 2022 ID: SMRC21475
4.6 (96 reviews)
Published: May 2022 ID: SMRC21475

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Industrial and Automotive Power Transmission Products Market is accounted for $201,684.61 million in 2021 and is expected to reach $443,081.25 million by 2028 growing at a CAGR of 11.9% during the forecast period. The transmission system provides a smooth and comfortable drive by transmitting the optimal power from the engine to the wheels through the gearbox. In the automatic transmission system, depending upon the electronic system used in the transmission and design of the transmission system, the transmission system can significantly influence the maneuverability and fuel efficiency of the vehicle.

Market Dynamics:

Driver:

Increasing demand for lightweight transmission systems


The increasing government regulations for safety, carbon emission, and lightweight vehicles are forcing original equipment manufacturers to utilize components that will help in an overall weight reduction of the vehicle. There is continuous pressure on OEMs to reduce emission levels of automobiles. Consumers in developed countries are more inclined toward purchasing modern fuel-efficient, eco-friendly cars with reduced emission levels and better performance. Manufacturers are focusing on weight reduction of various parts of the automobile to further reduce the weight of the entire vehicle.

Restraint:

High cost of adoption and frequent maintenance


The latest transmission systems have a higher cost of installation as compared to traditional transmission systems. The high cost of transmission systems is one of the major constraints for the manufacturers to enter the market. This is mainly because of the preference of consumers for cost-effectiveness rather than performance. Higher costs of these systems limited the market in countries, where the initial cost of the vehicle is a priority over comfort or efficiency. Therefore, companies have to work on their R&D to produce these improved transmission systems for a lesser price, for the small car segment.

Opportunity:

Increasing adoption of automatic transmissions and development of hybrid drives


The popularity of automatic cars is on the rise owing to the wide adoption of automated manual transmissions. Better fuel efficiency, worsening traffic conditions, and gradual dispelling of misconceptions about automatic cars have contributed to this trend. Automatic transmission delivers gentle and smooth gear changes, and reduced fuel consumption is delivering additional driving comfort. The increasing number of electric and hybrid vehicles is also likely to occupy a big share of the market. Developments in hybrid automatic transmission technologies to achieve top performances may further drive market share.

Threat:

Reduction in costs for lightweight and efficient transmissions


The dilemma faced by the automotive industry is between technological innovation and cost reduction. Vehicle weight is inversely proportional to the fuel economy of the vehicle. Many original equipment manufacturers are at present focusing on the overall weight reduction of their vehicle models in order to achieve the targets. Huge fluctuations in raw materials prices could make the market less competitive. Lightweight transmission systems proportionately reduce the weight of the automobile which ensures that the vehicle complies with the stringent emission and fuel efficiency norms. However, these weight-reducing alloys and lightweight materials are expensive in nature which further increases the cost of manufacturing lightweight and efficient transmission systems. The challenge, therefore, is to come up with transmissions that are efficient and economical at the same time.

The industrial segment is expected to be the largest during the forecast period

The industrial segment is estimated to have a lucrative growth as starting from conveyor belts to transportation vehicle cargo, the majority of the industrial processes run on power transmission products. With the development in technologies, engineers have modified existing types of machinery with better components such as gear drives, valves, belts, couplings, and other power industrial power transmissions.

The passenger vehicle segment is expected to have the highest CAGR during the forecast period

The passenger vehicle segment is anticipated to witness the fastest CAGR growth during the forecast period owing to the improving economic outlook in the U.S. and many developing markets, such as China and India. Furthermore, advancements in the transmission technology in the passenger cars segment from 4-speed automatic transmissions to 8-speed and 9-speed automatic transmissions have led to enhancements in the overall comfort, driving experience, and fuel efficiency of these vehicles, which, in turn, augments the segment growth.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period due to increasing exportation-related components worldwide, a rise in demand for commercial vehicles, the presence of several prominent automobile manufacturers, and increasing automotive sales, especially in countries like China, India, Japan, and South Korea. Stringent regulations across the Asia Pacific have encouraged companies to adopt efficient transmission systems.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period owing to the increasing penetration of electrified transmissions because of the increasing focus on hybrid vehicles and their beneficial impact on fuel economy and emissions. Demand for aftermarket transmission systems is considerably high in North America, which is estimated to propel the global automotive transmission market.

Key players in the market

Some of the key players profiled in the Industrial and Automotive Power Transmission Products Market include ZF Friedrichshafen, Timken, ABB, Schaeffler AG, Royal DSM, NXP Semiconductors, BorgWarner Inc, Litens Automotive Group, Eaton Corporation PLC, Continental AG, Bucher Hydraulics, DANA.CN, B & R Machine and Gear Corporation, Aisin Seiki, Nordex, Inc., AB SKF, and Texas Instruments.    

Report Coverage

Details

Published Year:

2022

Estimated Market Size in 2020:

USD 201,684.61 million

Estimated Period:

2021

Compound Annual Growth Rate (CAGR)  from 2020 to 2028:

11.9%

Predicted 2028 Value:

USD 443,081.25 million

Forecast Years:

2022-2028

Tables, Graphs & Figures

191

Chapters Covered:

Type, Product, Application, End User, and Region

Core Drivers and Opportunities:

  • Rising demand for lightweight transmission systems
  • Growing industrialization worldwide

Restraining Factors & Market Threats:

  • High cost of adoption and frequent maintenance


Key Developments:

In March 2021, Schaeffler partnered with Flender to launch a new eco-friendly packaging system. Both the companies combined and developed “Smart Box,” a reusable transport box of large bearings. Smart Box offers an innovative solution for climate and environmental protection. The box ensures reduced storage space and improved handling.

In March 2021, Eaton Corporation PLC announced its new aftermarket product for ELocker differential for Toyota Tacoma midsize pickup trucks with manual transmissions. In addition, the company also launched eleven other Elocker differentials in the past year.
 
Types Covered:
• Mechanical Drive Train 
• Hydrostatic Drive Train 
• Hydraulic Transmission System 
 
Products Covered:
• Belting & Belt Drives
• Gear Drives
• Couplings
• Pulley
• Hoses
• Chain & Chain Drives
• Bearings
 
Applications Covered:
• Automotive
• Industrial
 
End Users Covered:
• Aftermarket
• Original Equipment Manufacturer (OEM)
 
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
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

Key Questions Answered In The Report

The Global Industrial and Automotive Power Transmission Products Market is majorly driven by increasing demand for lightweight transmission systems and growing industrialization worldwide.

The passenger vehicle segment is growing at a highest CAGR owing to advancements in the transmission technology in the passenger cars and improving economic outlook in the U.S. and many developing markets.

Asia Pacific dominated with a significant market share due to the presence of several prominent automobile manufacturers and increasing exportation-related components worldwide.

North America region is growing at a highest CAGR owing to rising penetration of electrified transmissions because of the increasing focus on hybrid vehicles and their beneficial impact on fuel economy and emissions.

Key players in the Industrial and Automotive Power Transmission Products Market include ZF Friedrichshafen, Timken, ABB, Schaeffler AG, Royal DSM, NXP Semiconductors, BorgWarner Inc, Litens Automotive Group, Eaton Corporation PLC, Continental AG, Bucher Hydraulics, DANA.CN, B & R Machine and Gear Corporation, Aisin Seiki, Nordex, Inc., AB SKF, and Texas Instruments.

1 Executive Summary           
             
2 Preface     
       
 2.1 Abstract           
 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        
  2.5.3 Assumptions         
             
3 Market Trend Analysis          
 3.1 Introduction          
 3.2 Drivers           
 3.3 Restraints          
 3.4 Opportunities          
 3.5 Threats           
 3.6 Product Analysis          
 3.7 Application Analysis         
 3.8 End User Analysis          
 3.9 Emerging Markets          
 3.10 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 Industrial and Automotive Power Transmission Products Market, By Type     
 5.1 Introduction          
 5.2 Mechanical Drive Train         
 5.3 Hydrostatic Drive Train         
 5.4 Hydraulic Transmission System        
             
6 Global Industrial and Automotive Power Transmission Products Market, By Product    
 6.1 Introduction          
 6.2 Belting & Belt Drives         
  6.2.1 V Belt          
  6.2.2 Timing Belt         
  6.2.3 Serpentine Belt         
 6.3 Gear Drives          
  6.3.1 Worm Gear         
  6.3.2 Helical Gear         
  6.3.3 Bevel Gear         
 6.4 Couplings            
  6.4.1 Tire Coupling         
  6.4.2 Jaw Coupling         
  6.4.3 Gear Coupling         
  6.4.4 Disc Coupling         
 6.5 Pulley           
 6.6 Hoses           
 6.7 Chain & Chain Drives         
 6.8 Bearings           
             
7 Global Industrial and Automotive Power Transmission Products Market, By Application    
 7.1 Introduction          
 7.2 Automotive          
  7.2.1 Commercial Vehicle        
  7.2.2 Passenger Vehicle         
 7.3 Industrial           
              
8 Global Industrial and Automotive Power Transmission Products Market, By End User     
 8.1 Introduction          
 8.2 Aftermarket          
 8.3 Original Equipment Manufacturer (OEM)        
             
9 Global Industrial and Automotive Power Transmission Products Market, By Geography    
 9.1 Introduction          
 9.2 North America          
  9.2.1 US          
  9.2.2 Canada          
  9.2.3 Mexico          
 9.3 Europe           
  9.3.1 Germany          
  9.3.2 UK           
  9.3.3 Italy          
  9.3.4 France          
  9.3.5 Spain          
  9.3.6 Rest of Europe         
 9.4 Asia Pacific          
  9.4.1 Japan          
  9.4.2 China          
  9.4.3 India          
  9.4.4 Australia          
  9.4.5 New Zealand         
  9.4.6 South Korea         
  9.4.7 Rest of Asia Pacific         
 9.5 South America          
  9.5.1 Argentina         
  9.5.2 Brazil          
  9.5.3 Chile          
  9.5.4 Rest of South America        
 9.6 Middle East & Africa         
  9.6.1 Saudi Arabia         
  9.6.2 UAE          
  9.6.3 Qatar          
  9.6.4 South Africa         
  9.6.5 Rest of Middle East & Africa        
             
10 Key Developments           
 10.1 Agreements, Partnerships, Collaborations and Joint Ventures      
 10.2 Acquisitions & Mergers         
 10.3 New Product Launch         
 10.4 Expansions          
 10.5 Other Key Strategies         
             
11 Company Profiling           
 11.1 ZF Friedrichshafen           
 11.2 Timken           
 11.3 ABB           
 11.4 Schaeffler AG          
 11.5 Royal DSM          
 11.6 NXP Semiconductors         
 11.7 BorgWarner Inc          
 11.8 Litens Automotive Group         
 11.9 Eaton Corporation PLC         
 11.10 Continental AG          
 11.11 Bucher Hydraulics          
 11.12 DANA.CN           
 11.13 B & R Machine and Gear Corporation        
 11.14 Aisin Seiki          
 11.15 Nordex, Inc.          
 11.16 AB SKF           
 11.17 Texas Instruments           


List of Tables            
1 Global Industrial and Automotive Power Transmission Products Market Outlook, By Region (2020-2028) ($MN)  
2 Global Industrial and Automotive Power Transmission Products Market Outlook, By Type (2020-2028) ($MN)  
3 Global Industrial and Automotive Power Transmission Products Market Outlook, By Mechanical Drive Train (2020-2028) ($MN)
4 Global Industrial and Automotive Power Transmission Products Market Outlook, By Hydrostatic Drive Train (2020-2028) ($MN)
5 Global Industrial and Automotive Power Transmission Products Market Outlook, By Hydraulic Transmission System (2020-2028) ($MN)
6 Global Industrial and Automotive Power Transmission Products Market Outlook, By Product (2020-2028) ($MN)  
7 Global Industrial and Automotive Power Transmission Products Market Outlook, By Belting & Belt Drives (2020-2028) ($MN) 
8 Global Industrial and Automotive Power Transmission Products Market Outlook, By V Belt (2020-2028) ($MN)  
9 Global Industrial and Automotive Power Transmission Products Market Outlook, By Timing Belt (2020-2028) ($MN) 
10 Global Industrial and Automotive Power Transmission Products Market Outlook, By Serpentine Belt (2020-2028) ($MN) 
11 Global Industrial and Automotive Power Transmission Products Market Outlook, By Gear Drives (2020-2028) ($MN) 
12 Global Industrial and Automotive Power Transmission Products Market Outlook, By Worm Gear (2020-2028) ($MN) 
13 Global Industrial and Automotive Power Transmission Products Market Outlook, By Helical Gear (2020-2028) ($MN) 
14 Global Industrial and Automotive Power Transmission Products Market Outlook, By Bevel Gear (2020-2028) ($MN)  
15 Global Industrial and Automotive Power Transmission Products Market Outlook, By Couplings (2020-2028) ($MN)  
16 Global Industrial and Automotive Power Transmission Products Market Outlook, By Tire Coupling (2020-2028) ($MN) 
17 Global Industrial and Automotive Power Transmission Products Market Outlook, By Jaw Coupling (2020-2028) ($MN) 
18 Global Industrial and Automotive Power Transmission Products Market Outlook, By Gear Coupling (2020-2028) ($MN) 
19 Global Industrial and Automotive Power Transmission Products Market Outlook, By Disc Coupling (2020-2028) ($MN) 
20 Global Industrial and Automotive Power Transmission Products Market Outlook, By Pulley (2020-2028) ($MN)  
21 Global Industrial and Automotive Power Transmission Products Market Outlook, By Hoses (2020-2028) ($MN)  
22 Global Industrial and Automotive Power Transmission Products Market Outlook, By Chain & Chain Drives (2020-2028) ($MN) 
23 Global Industrial and Automotive Power Transmission Products Market Outlook, By Bearings (2020-2028) ($MN)  
24 Global Industrial and Automotive Power Transmission Products Market Outlook, By Application (2020-2028) ($MN) 
25 Global Industrial and Automotive Power Transmission Products Market Outlook, By Automotive (2020-2028) ($MN) 
26 Global Industrial and Automotive Power Transmission Products Market Outlook, By Commercial Vehicle (2020-2028) ($MN) 
27 Global Industrial and Automotive Power Transmission Products Market Outlook, By Passenger Vehicle (2020-2028) ($MN) 
28 Global Industrial and Automotive Power Transmission Products Market Outlook, By Industrial (2020-2028) ($MN)  
29 Global Industrial and Automotive Power Transmission Products Market Outlook, By End User (2020-2028) ($MN)  
30 Global Industrial and Automotive Power Transmission Products Market Outlook, By Aftermarket (2020-2028) ($MN) 
31 Global Industrial and Automotive Power Transmission Products Market Outlook, By Original Equipment Manufacturer (OEM) (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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