Automotive Transmission Market Will Represent Us$181.8 Mn Opportunity by 2021, Consumer Preference Shifting Toward Automatic Transmission Systems

According to a new market report published by Transparency Market Research “Automotive Transmission Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021,” the automotive transmission market was valued at US$119.7 mn in 2014, which is expected to reach US$181.8 mn by 2021, logging a CAGR of 5.9% from 2015 to 2021.

The automotive transmission transfers the required torque from the engine to the drive wheels of the vehicle by changing multiple gear ratios. The automotive transmission system uses clutch which is operated either manually, automatically or semi automatically. This provides optimum generation of power from engine of the vehicle. The power transmission of the vehicle differs through different gear ratios. Earlier, vehicles used to have 4-speed transmission, latest modern transmission technology have 8-speed and 9-speed transmission which enhance the comfort and fuel efficiency of the vehicle.

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The global automotive transmission market is segmented by geography into North America, Europe, Asia Pacific (APAC) and Rest of the World (RoW). In 2014, Asia Pacific accounted for the largest market share in the global automotive transmission market. The countries such as China and India are driving the automotive transmission market in the region. Asia Pacific accounted 34% market share of the total global automotive transmission market.

The global automotive transmission market has been segmented on the basis of transmission type into: manual and automatic. Manual transmission accounted for the largest market share in 2014. Manual transmission is preferred in Asia Pacific and Europe and together these two regions account for 60% of the total market share in the global automotive transmission market at present. Although this trend is expected to change over the forecast period and there is a shift in preference from manual system to automatic transmission system, this is expected to...