Automotive Automatic Transmission Market Outlook 2031
The global automotive automatic transmission market size was USD 59.9 Billion in 2022 and is anticipated to reach USD 102.93 Billion by 2031 expand at a significant CAGR 6.2% during the forecast period, 2023-2031. The growth of the market is attributed to rising vehicle production across developing nations such as China, India, and Brazil.
An automatic transmission (AT) is also known as self-shifting transmission or dual pedal technology. AT is a multi-speed transmission used in motor vehicles that doesn’t require driver to shift gears. It generally involves a transmission, axle, and differential in one integrated assembly, thus technically becoming a transaxle.
The COVID-19 pandemic negative impacted the automotive industry due to closedown of the manufacturing facilities. However, the relaxation in restrictions is estimated to positively influence the market growth.
Automotive Automatic Transmission Market Trends, Drivers, Restraints and Opportunities
- Rising consumer preference for enhanced driving experience in terms of smooth gear shifting and improved acceleration is projected to drive the market growth during the forecast period.
- Increasing demand for self-shifting automobile transmission is expected to boost the market growth in the coming years.
- Growing demand for lightweight transmission systems is projected to drive the market growth during the forecast period.
- High cost of advanced transmission systems is estimated to restrict the market growth in the coming years.
- Growing demand for hybrid vehicles can create lucrative opportunities during the forecast period.
Scope of The Automotive Automatic Transmission Market Report
The report on the global automotive automatic transmission market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Automotive Automatic Transmission Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types (Automatic Transmission, Automated Manual Transmission, Continuously Variable Transmission, and Dual Clutch Transmission), Fuel Types (Gasoline, Diesel, and Hybrids), and Vehicle Types (Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles)
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Regions
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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ZF Friedrichshafen AG; Continental AG; Eaton Corporation PLC; Magna International Inc.; and Aisin Seiki Co Ltd.
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Automotive Automatic Transmission Market Segment Insights
Automated manual transmissions segment to hold a significant market share
Based on types, the market is divided into automatic transmission, automated manual transmission, continuously variable transmission, and dual clutch transmissions. The automatic transmission segment is anticipated to hold a key share of the market in the coming years due to easy of use. However, the automated manual transmission segment is anticipated to expand at a rapid pace during the forecast period owing to demand for comfortable driving and better fuel economy of vehicles.
Diesel segment is expected to grow at a rapid pace
On the basis of fuel types, the market is divided into gasoline, diesel, and hybrid. The gasoline is expected to represent a major share of the market in the coming years due to easy to refuel, light-weight, and lesser emissions. On the other hand, the diesel segment is anticipated to expand at a rapid pace during the forecast period owing to most efficient and energy dense fuel.
Heavy commercial vehicles segment is anticipated to hold a large market share
In terms of vehicles types, the market is bifurcated into passenger cars, light commercial vehicles, and heavy commercial vehicles. The light commercial vehicles segment is anticipated to hold a key share of the market in the coming years due to improvement in fuel efficiency, reduced environmental pollution, and fuel costs. However, the heavy commercial vehicles segment is anticipated to expand at a rapid pace during the forecast period.
North America is estimated to account a major market share
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period due to increasing demand for automatic transmission cars and SUVs in the past three years.
However, the market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period due to the worsening road conditions, advancements in technology, growing preference toward economy and convenience, and rising demand for fuel-efficient cars.
Segments
The global automotive automatic transmission market has been segmented on the basis of
Types
- Automatic Transmission
- Automated Manual Transmission
- Continuously Variable Transmission
- Dual Clutch Transmission
Fuel Types
Vehicle Types
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the automotive automatic transmission market includes ZF Friedrichshafen AG; Continental AG; Eaton Corporation PLC; Magna International Inc.; and Aisin Seiki Co Ltd.
Some of these players are engaging in business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market share.
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