Press release
Automotive Gears Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Automotive Gears Market
The Business Research Company offers in-depth market insights through Automotive Gears Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The automotive gears market size has grown strongly in recent years. It will grow from $37.68 billion in 2023 to $40.64 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to industrial revolution and machinery demand, automotive industry evolution, innovation in gear design and materials, impact of world wars on automotive industry, rise of mass production techniques.
The automotive gears market size is expected to see strong growth in the next few years. It will grow to $53.95 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to regulatory shifts and emissions standards, adoption of advanced manufacturing techniques, global economic growth and vehicle production, electric mobility and sustainable transmissions, adoption of lightweight and high-strength materials. Major trends in the forecast period include demand for compact and efficient gears, transition to electrification, advancements in gearbox technology, focus on fuel efficiency and emissions, incorporation of advanced materials.
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Market Segmentation:
The automotive gears market covered in this report is segmented -
1) By Material Type: Non- Metallic Gears, Metallic Gears
2) By Vehicle: Passenger Car, Commercial Vehicles
3) By Product: Parallel Shaft Gears, Spur Gear, Helical Gear, Rack And Pinion Gear, Intersecting Shaft Gear, Bevel Gear, Skew Shaft Gear, Hypoid Gear, Worm Gear, Planetary Gears
4) By Application: Transmission System, Steering System, Differential System, Other System
Major Driver - Rising Vehicle Production Fuels Growth In The Automotive Gear Market
Increasing vehicle production is expected to propel the growth of the automotive gears market. With the rise in vehicle production, the demand for automotive gears will increase as it provides enhanced product durability and vehicle fuel efficiency. For instance, according to IBEF (India Brand Equity Foundation), an Indian Government export promotion agency, by 2026, the Indian automobile sector (including component production) is predicted to be worth between $251.4 and $282.8 billion. After recovering from the effects of the COVID-19 pandemic, the Indian auto sector is predicted to rise rapidly in 2021-22. Therefore, an increase in vehicle production drives the growth of automotive gears market.
Competitive Landscape:
Major companies operating in the automotive gears market report are Mitsubishi Corp., Robert Bosch GmbH, ZF Friedrichshafen AG, Eaton Corporation plc, DuPont de Nemours, Inc., Dynamatic Technologies Limited, Dana Holding Corporation, NSK Ltd., Linamar Corporation, American Axle & Manufacturing Holdings Inc., Universal Auto Gears LLP, Altra Industrial Motion Corporation, Gleason Corporation, Univance Corporation, Neapco Inc., Franz Morat Group, Amtech International Inc., Bharat Gears Limited, IMS Gear SE & Co. KGaA, RSB Transmissions Ltd., Framo Morat GmbH & Co. KG, Precipart Group Inc., Cone Drive Operations Inc., Taiwan United Gear Co. Ltd., Atlanta Gear Works Inc., Tracey Gear & Precision Shaft Inc., Showa Corporation, B.D. Industries (India) Pvt. Ltd., GKN plc
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https://www.thebusinessresearchcompany.com/report/automotive-gears-global-market-report
Top Trend - High-Performance Transmissions Gain Traction In The Automotive Gear Market
Major companies operating in the automotive gear market are increasing their focus on introducing high-performance transmissions, such as the Jatco CVT-X, to gain a competitive edge in the market. The Jatco CVT-X is a continuously variable transmission system that is designed to improve fuel efficiency, provide smoother performance, and enhance driving dynamics in vehicles. For instance, in June 2021, JATCO Ltd., a Japan-based automobile company, launched the new Jatco CVT-X for medium- to large front-wheel-drive (FWD) vehicles. The CVT-X enhances fuel economy by 8% when compared to the Jatco CVT-8. It has excellent acceleration performance from rest due to the 8.2 ratio coverage, and by combining feed-forward and feedback control, JATCO has reduced both shift response time and shift shock, minimizing the time between accelerator input and vehicle response.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Gears Market Characteristics
3. Automotive Gears Market Trends And Strategies
4. Automotive Gears Market - Macro Economic Scenario
5. Automotive Gears Market Size And Growth
…..
27. Automotive Gears Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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