Global Automotive Transmission Systems Market: Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2028

 

The transmission system of an automobile delivers power to the engine. It consists of multiple transmission components such as gears, shafts, and other pieces that work together to move the device. There are two types of transmission systems in motor vehicles: automatic transmission and manual transmission. Automotive Transmission Systems Market changes gear ratios automatically as the vehicle moves, whereas manual transmissions change gear ratios manually. The rising demand for automobiles is fueling the expansion of the automotive transmission system industry.

The fast spread of the coronavirus has had a significant impact on the global vehicle gearbox sector. Business halting, stringent lockdowns, travel and transportation bans, and disrupted supply chains all had an impact on the global Automotive Transmission Systems Market. This reduced vehicle sales of passenger cars, light-duty vehicles, medium and heavy-duty vehicles, and so on. Technological developments in transmission systems, on the other hand, are predicted to revitalize the worldwide automotive transmission industry. The increased use of advanced technology by car OEMs worldwide creates revenue potential in the near future.

The rapid global expansion of the vehicle sector is expected to greatly enhance the automotive transmission market. Global mergers and acquisitions in the automotive industry are expected to enhance the automotive transmission market. Furthermore, rising disposable income and increased purchasing power of customers throughout the world are driving car sales, which is expected to enhance the industry.

The expansion of the global supply chain and logistics sector is increasing demand for heavy commercial vehicles like as trucks and trailers, which require a lot of power to turn the wheels. The transmission system transfers the torque generated by the engine to the power train and wheels.

Getrag Corporate Group, Aisin Seiki Co., ZF Friedrichshafen AG, Jatco Ltd., General Motors, GKN PLC, Magna Powertrain, Eaton Corporation, Honda Transmission Manufacturing of America Inc., and Allison Transmission Inc. are among the key competitors in the automotive transmission systems market.