55% of automotive transmission systems sales accounted for by gasoline vehicles
Summary
ESOMAR-certified market research and consulting firm predicts the global sales of automotive transmission systems to exceed US$ 70 bn, registering a CAGR of 6.3% through the assessment period 2021-2031. Governments across the globe are contributing a massive share in fuelling the expansion of the automotive transmission system market by setting stricter regulatory norms regarding vehicular emission control. Governments are compelling a growing number of automakers and technology leaders to bring electrification and fuel efficiency that would upgrade the automotive transmission systems. • Gasoline expected to hold the highest share for sales, accumulating more than 55% market share • Manual automotive transmission systems to remain highly demanded, capturing more than 50% demand • Asia likely to account for more than 1/3rd revenue share until 2031 “Increasing usage of passenger cars and strict regulations set by the government is expanding the demand for automotive transmission systems.” opines a Senior Research Analyst Prominent companies operating in the automotive transmission systems space include Aisin Seiki Co. Ltd, Renault SA, Continental AG, Magna International Inc., Eaton Corporation PLC and Hyundai Motor Company among others. • In August 2021, Aisin Seiki Co. Ltd. equipped in the new Toyota Aqua an electric water pump for inverter cooling and a shift-by wire which can automatically shift gears.