The automotive automatic transmission global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Automotive Automatic Transmission Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The automotive automatic transmission market size has grown strongly in recent years. It will grow from $62.55 billion in 2023 to $67.44 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to increased integration of hybrid and plug-in hybrid systems, increasing demand for automatic transmission vehicles, shift towards fuel efficiency and emission reduction, growing preference for convenience and ease of driving, and expansion of the automotive industry globally.
The automotive automatic transmission market size is expected to see strong growth in the next few years. It will grow to $91.48 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to the rising adoption of electric vehicles with automatic transmissions, integration of advanced driver-assistance systems (ADAS) in transmissions, regulatory push towards stricter emission standards, expansion of ride-sharing and autonomous vehicle fleets and Innovations in materials and manufacturing processes for lighter and more efficient transmissions. Major trends in the forecast period include a shift towards dual-clutch and continuously variable transmissions, technological advancements in transmission systems, development of predictive maintenance solutions for transmissions, emphasis on connectivity and communication within transmission systems, and growth of subscription-based transmission services and upgrades.
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Scope Of Automotive Automatic Transmission Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Automotive Automatic Transmission Market Overview
Market Drivers –
The rising shift towards electric vehicles is expected to propel the growth of the automotive automatic transmission market going forward. Electric and hybrid vehicles are automobiles powered by one or more electric motors, either exclusively or in combination with an internal combustion engine, offering reduced environmental impact and increased energy efficiency. The rising popularity of electric vehicles is driven by factors such as environmental concerns, government incentives, advancements in battery technology, and increasing consumer demand for fuel efficiency. Automotive automatic transmission systems are utilized in electric vehicles to manage power delivery and enhance driving performance efficiently. For instance, in April 2023, according to the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, global electric car sales experienced a notable surge of 3.5 million units in 2023 compared to 2022, representing a substantial 35% year-on-year increase. Therefore, the rising shift towards electric vehicles is driving the growth of the automotive automatic transmission market.
Market Trends –
Major companies operating in the automotive automatic transmission market are focusing on developing innovative systems, such as intelligent clutch heat mapping algorithms, to gain a competitive edge in the market. The intelligent clutch heat mapping algorithm refers to a sophisticated software-based system integrated into automotive automatic transmission systems to monitor and optimize the operation of the clutch mechanism. For instance, in July 2022, ZF India, an India-based subsidiary of ZF Friedrichshafen AG that manufactures and supplies integral hydraulic power steering systems, launched the EcoTronic Mid Automated Manual Transmission (AMT) system for commercial vehicles, offering insights to improve fleet operational efficiency. It is equipped with a ‘rock-free’ mode for smooth driving on challenging terrain; the system doubles clutch life and enhances gearbox life, reducing vehicle downtime. This locally manufactured transmission supports various applications, including road transportation, passenger transport, and mining providing easy operation and reliability.
The automotive automatic transmission market covered in this report is segmented –
1) By Type: Automatic Transmission, Automated Manual Transmission, Dual Clutch Transmission, Continuously Variable Transmission
2) By Fuel Type: Gasoline, Diesel, Hybrid
3) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
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Regional Insights –
North America was the largest region in the automotive automatic transmission market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive automatic transmission market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the automotive automatic transmission market are Ford Motor Company, General Motors, Continental AG, ZF Friedrichshafen AG, Magna International Inc., Aisin Seiki Co. Ltd., Eaton Corporation PLC, Schaeffler AG, BorgWarner Inc., JTEKT Corporation, Dana Incorporated, NTN Corporation, GKN Automotive Limited, Voith Group, AVL List GmbH, Allison Transmission Inc., Ricardo plc, Tremec Corporation, Punch Powertrain NV, JATCO Ltd., Honda Transmission Manufacturing of America, GETRAG, Hyundai PowerTech Co. Ltd.
Table of Contents
1. Executive Summary
2. Automotive Automatic Transmission Market Report Structure
3. Automotive Automatic Transmission Market Trends And Strategies
4. Automotive Automatic Transmission Market – Macro Economic Scenario
5. Global Automotive Automatic Transmission Market Size and Growth
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32. Global Automotive Automatic Transmission Market Competitive Benchmarking
33. Global Automotive Automatic Transmission Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Automotive Automatic Transmission Market
35. Automotive Automatic Transmission Market Future Outlook and Potential Analysis
36. Appendix
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