The automotive gearbox market is projected to grow at a CAGR of 4.24% from USD 103.55 Billion in 2018 to USD 138.52 Billion by 2025
The increase in demand for enhanced driving experience and smooth gear shifting is driving the growth of the automotive gearbox market. The growth can also be attributed to the increase in the demand for automatic and automated manual transmission vehicles in growing economies such as China, Brazil, and India.
The manual transmission system segment is estimated to be the largest segment in the Automotive Gearbox Market, by application
The manual transmission segment is estimated to hold the largest market share in the global automotive gearbox market, by application. The market share of this segment is the highest in developing economies such as India and Brazil because of its cost effectiveness. However, the increasing demand for smooth gear shifting and convenient driving has fueled the demand for automatic transmission and automatic manual transmission in these countries, which is restraining the market for manual transmission.
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Above 8 gears segment is estimated to be the fastest growing segment in the Automotive gearbox, by number of gears
The automotive gearbox market for above 8 gears gearbox segment is estimated to grow at the highest rate during the forecast period. This type is mostly used in commercial and off-highway vehicles which require a high degree of durability. Factors such as the development of infrastructure and increasing demand for commercial vehicles for freight transport are driving the growth of this segment.
Rest of the World: Fastest growing regional market for automotive gearbox
Rest of the world is estimated to be the fastest growing regional market for automotive gearbox. The RoW markets include automotive markets of Brazil, Russia, and South Africa. The RoW gearbox market is growing because of the increasing automobile production in this region. This growth in automobile production is due to the increase in demand for vehicles, along with the availability of cheap labor, low transportation costs, favorable environmental regulations, and flexible export import policies in the region. OEMs are expanding into untapped markets in this region because of the potential of the Brazilian and Russian markets and the attractive export opportunities for established markets. As the automotive gearbox market grows in line with the vehicle production the region has the fastest growth rate. Also, automotive gearbox manufacturers are attracted to this market owing to its cost effectiveness. For instance, in 2014, Aisin Seiki Co., Ltd., Aisin AI Co., Ltd., and Advics Co., Ltd. expanded their production in Brazil. Aisin AI and Advics established their own manufacturing subsidiaries at the site of Aisin Seikis production base in Itu, Sao Paulo. Aisin AI commenced the production of manual transmissions.
Key Market Players
The report covers all the major players in the automotive gearbox market, including ZF Friedrichshafen (Germany), Aisin Seiki (Japan), Magna (Getrag) (Canada), Schaeffler (Germany), and BorgWarner (US).
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