The continuously variable 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.
Continuously Variable 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 continuously variable transmission market size has grown strongly in recent years. It will grow from $20.14 billion in 2023 to $21.20 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to increase in sales of luxury vehicles, increasing demand for better fuel efficiency, increase in the demand for utility vehicles, increase in sales of luxury vehicles, and increasing comfort and safety concerns.
The continuously variable transmission market size is expected to see strong growth in the next few years. It will grow to $26.30 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to the growing production of automobiles, growing demand for eco-friendly vehicles, a growing number of local manufacturers, rising awareness regarding environmental pollution, and rising sales of commercial and passenger cars. Major trends in the forecast period include technological advancements, integration of assistance systems, adoption in luxury vehicles, start-stop systems, integration with hybrid and electric vehicles, and transmission device technologies.
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Scope Of Continuously Variable 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.
Continuously Variable Transmission Market Overview
Market Drivers –
The growing production of automobiles is expected to propel the growth of the continuously variable transmission market going forward. The production of automobiles refers to the manufacturing process of vehicles, encompassing design, engineering, assembly, and quality assurance to create finished automobiles for distribution and sale. The production of automobiles is attributed to technological advancements in manufacturing processes and materials, increasing demand for electric vehicles, improvements in automation and robotics, and the globalization of supply chains. Continuously variable transmission plays a crucial role in automotive production by offering significant advantages in fuel efficiency, driving comfort, and adaptability across various vehicle types and driving conditions. Its integration into modern vehicles reflects ongoing efforts to enhance performance while meeting environmental and consumer demands. For instance, in 2023, according to the International Organization of Automobile Manufacturers, a France-based trade association, global motor vehicle production increased from 84.83 million in 2022 to 93.55 million in 2023. Therefore, the growing production of automobiles is driving the growth of the continuously variable transmission market.
Market Trends –
Major companies operating in the continuously variable transmission market focus on developing innovative products, such as automatic transmissions, to improve overall vehicle performance and meet stringent emission standards. Automatic transmissions are vehicle transmission systems that automatically change the gear ratio as the vehicle moves, eliminating the need for the driver to shift gears manually. For instance, in June 2021, JATCO Ltd., a Japan-based automatic transmission company, introduced the Jatco CVT-X JF022E, a new continuously variable transmission (CVT) for medium to large forward-facing (FWD) vehicles. This next-generation transmission system boasts several unique features to enhance performance, efficiency, and the driving experience. The Jatco CVT-X incorporates advanced adaptive control algorithms that seamlessly adjust gear ratios based on real-time driving conditions, ensuring optimal power delivery and fuel efficiency across various driving scenarios. Its robust design includes enhanced durability and reliability, catering to conventional internal combustion engines and hybrid powertrains.
The continuously variable transmission market covered in this report is segmented –
1) By Type: Belt-Chain Drive Continuously Variable Transmission, Planetary Continuously Variable Transmission
2) By Capacity: Up To 1.5 L, 1.5 L To 3.0 L, Above 3.0 L
3) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Other Vehicles
4) By End-Use: Original Equipment Manufacturer, Aftermarket
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Regional Insights –
Asia-Pacific was the largest region in the continuously variable transmission market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the continuously variable transmission market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the continuously variable transmission market are Toyota Motor Corporation, Honda Motor Co. Ltd., Hyundai Motor Company, Robert Bosch GmbH, Kia Motors, Renault S.A., ZF Friedrichshafen AG, Aisin Corporation, Mazda Motor Corporation, Subaru Corporation, Geely Automobile, Nidec-Shimpo Corporation, Chery Automobile Co. Ltd., BorgWarner Inc., Peugeot S.A., Endurance Technologies Limited, Team Industries Inc., IAV GmbH, JATCO Ltd., Steyr Motors GmbH, Gaokin Industry Co. Ltd., Wanliyang Co. Ltd.
Table of Contents
1. Executive Summary
2. Continuously Variable Transmission Market Report Structure
3. Continuously Variable Transmission Market Trends And Strategies
4. Continuously Variable Transmission Market – Macro Economic Scenario
5. Global Continuously Variable Transmission Market Size and Growth
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32. Global Continuously Variable Transmission Market Competitive Benchmarking
33. Global Continuously Variable Transmission Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Continuously Variable Transmission Market
35. Continuously Variable Transmission Market Future Outlook and Potential Analysis
36. Appendix
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