The global automotive continuously variable transmission system market is anticipated to expand at a CAGR of 5.2% during the forecast period, 2020-2028. The growth of the market is attributed to technological innovations.
A CVT or Continuous Variable Transmission seamlessly changes the gear ratios, which has an unending range, whereas other types of mechanical transmissions offer a fixed number of gear ratios and have hard shifts. CVT systems are also known as single-speed, shiftless, and stepless transmissions.
Technological advancements in the CVT systems helps the auto manufacturers to add value to the vehicles, reduce the costs, and improve the profit margins. The advancements help the manufacturers to meet the requirements of environmental legislation. It is through technology that manufacturers are able to address consumer demands such as safety and comfort.
A traditional transmission uses a wide variety of intricate parts to shift between a range of gears while most CVT systems work through a pulley system. In short, this system consists of cones at each pulley connected via a chain belt. The cones can move across the chain belt to increase or decrease the belt diameter.
Market Trends, Drivers, Restraints and Opportunities
- Technology advancements is a key driver influencing the growth of the automotive continuously variable transmission system market.
- Rising adoption of CVT systems in premium/luxury cars owing to stellar performance and comfort is speculated to spur the market growth.
- Increasing purchasing power due to improving economic conditions is propelling the market growth
- The Covid-19 pandemic had resulted in shutdown of manufacturing facilities while it has reduced the working hours, which is negatively impacting the market growth.
- Industrial revolution 4.0 has impacted the advancement of the market and is proving lucrative opportunities in the manufacturing industry. This, in turn, is expected to stimulate the market growth.
- Globalization and expansion of overseas manufacturing facilities in addition to mergers between automakers has resulted in opportunistic growth of the market.
Scope of Automotive Continuously Variable Transmission System Market Report
The report on the global body shaping implants 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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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Regional Scope
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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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Global Automotive Continuously Variable Transmission System Market Segment Insights
On the basis of types, the market is segregated into entry-level and mid-level, and luxury. The entry- level segment led the global automotive CVT system market with a share of more than 40% in 2019. This segment is anticipated to grow at a healthy rate during the forecast period.
Based on applications, the market is divided into passenger cars and commercial vehicles. The passenger cars segment comprised of cars, utility vehicles, and vans, which is witnessing substantial rise in demand across the globe. Incentives offered by the government for the adoption of electric vehicles, emission regulations, developments in the used-car market, and market shares of OEMs has led to the rising demand for passenger cars segment. The decreased interest rate offered by banks due to the COVID-19 pandemic has increased the demand for passenger vehicles.
On the basis of regions, the market is segmented into North America, Latin America, Europe, Asia Pacific and Middle East & Africa. In 2019, Asia Pacific accounted for more than 50% of the market share. The market in this region is anticipated to grow at a robust rate during the forecast period owing to rising disposable income and rapid industrialization in the emerging economies such as India and China. On the other hand, the market in Europe is anticipated to grow at a healthy rate owing to presence of major industry players and rapid technological advancements by the auto makers in the region.
Segments
The global automotive continuously variable transmission system market has been segmented on the basis of
Types
- Entry-level
- Mid-level
- Luxury
Applications
- Passenger Cars
- Commercial Vehicles
Regions
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Competitive Landscape
Key players competing in the global automotive continuously variable transmission system market are Aisin Seiki, JATCO, Punch Power Train, IAV Automotive Engineering, Efficient Drivetrains, LuK, TEAM, and Promens Deventer.
Aisin AW Co., Ltd. developed a Direct Shift-CVT (Continuously Variable Transmission) in a joint venture with Toyota. This type of CVT provides outstanding fuel efficiency and powerful driving performance. It is the world's first starting gear that enables direct and powerful starting and acceleration along with top-class gear ratio range. The CVT belt is narrowed and the diameter of the pulley is reduced, increasing the shift speed by 20% for a smooth shift and powerful and rhythmic driving performance.
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