The global automatic transmission market was valued at USD 108.9 billion in 2022. It is projected to reach USD 168.7 billion by 2032, with a compound annual growth rate (CAGR) of 4.2% during the forecast period. Several factors contribute to the revenue growth of the market.
One of the major drivers is the rising demand for technologically innovative and fuel-efficient automobiles. Consumers are increasingly seeking vehicles that offer advanced features and better fuel economy. Automatic transmissions, with their seamless gear changes and improved fuel efficiency, are meeting these demands and gaining popularity among car buyers.
Increased disposable income and global urbanization are also significant factors driving market revenue growth. As disposable incomes rise, consumers have more purchasing power and are willing to invest in vehicles with enhanced features and comfort. Additionally, the growth of urban areas worldwide has led to increased traffic congestion, making automatic transmissions desirable for their ease of use and convenience in heavy traffic conditions.
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Moreover, revenue growth of the market for automatic transmissions is expected to be driven by the ongoing trend toward electric vehicles. Adoption of electric vehicles is rising as a result of demand for sustainable and clean transportation options, especially in urban areas. Manufacturers are making significant investments in this area in order to provide more effective and ecologically friendly automatic transmission systems for electric vehicles. In the next years, this is expected to drive revenue growth of the market.
The popularity of autonomous driving systems is another factor that is expected to drive demand for automatic transmissions. The ability of autonomous driving systems to decrease accidents, improve fuel efficiency, and improve the overall driving experience is leading to an increase in their use. Manufacturers are making significant investments in the development of modern automatic transmission systems in order to make their products compatible with autonomous driving systems. In the next years, this is expected to drive revenue growth of the market.
Government mandates requiring use of fuel-efficient and environment-friendly automobiles are another factor expected to drive revenue growth of the market. Globally, governments are putting into place strict requirements to cut greenhouse gas emissions and boost fuel economy. As a result, manufacturers are making significant investments in the creation of automatic transmission systems that are more environmentally responsible. In the next years, this is expected to drive revenue growth of the market.
Competitive Landscape:
- General Motors Company
- Aisin Seiki Co., Ltd.
- BorgWarner Inc.
- Eaton Corporation Plc
- Ford Motor Company
- Magna International Inc.
- JATCO Ltd.
- Hyundai Motor Company
- Valeo SA
- ZF Friedrichshafen AG
- Continental AG
The global market is further segmented into type and application:
By Type Outlook
- Manual Mode
- Automatic Mode
- Dual-Clutch Transmission
- Continuously Variable Transmission
- Others
By Vehicle Type Outlook
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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