"Market Intelligence for High-Geared Performance"
The gearbox, or transmission, is a vehicle component responsible for shifting the speed and torque of the engine to the wheels. It's a complex mechanical system that transfers power from the engine to the wheels through a sequence of gears, which are engaged and disengaged by the driver of the vehicle's computer system.
Most automotive transmission is either manual or automatic drive; some vehicle also features semi-automatic Gearbox, which combines both elements of manual as well as automatic. Pedal shifter automatic transmissions are getting market traction nowadays because more vehicles are converting to hybrid or electric, which generally have high torque capacity instead of manual. Automatic handle torque curves much more easily, resulting in a much smoother gear shift and power lag.
Mercedes-Benz announced in 2023 to eliminate manual Gearboxes from its cars from 2024 onwards, except for performance and luxury vehicles. This is because automatic Gearboxes are more efficient and require less service interval. Also, it helps reduce costs for the manufacture and production of these vehicles.
COVID-19 had a substantial effect on the Automotive segment, and the automotive gearbox market was also affected by it; the disruption in the supply chain and decreased demand for vehicles was the critical point. Many countries worldwide implemented strict sanctions and lockdowns on the movement of components and goods, disrupting the market logistics. People staying at home and less passenger vehicle usage led to a decrease in demand for the sales service of these gearbox components.
Post-COVID-19 changes in government regulations and implementation of stimulus packages for automotive industries helped boost the production of electric and hybrid vehicles. This has increased demand for lightweight automotive gearboxes, which have structural rigidity, fuel efficiency, and good ride quality for every type of vehicle.
The need for gearboxes will continue to grow as the vehicle market bounces back and consumers prioritize customization. Currently, the gearboxes used in the vehicle are DCT and CVT ones.
By Vehicle Type | By Transmission | By Region |
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The report will cover the following key insights:
Based on vehicle type, the market is segmented into three sub-segments. The passenger vehicle segment is expected to dominate its market share owing to the high demand for private and public transportation. Additionally, there is an increased focus on better mobility options in urban areas among the populace, contributing towards high production rate and sales of passenger vehicles.
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The highest growth rate is expected in the Asia Pacific market, especially India and other Southeast Asian countries, due to the major production of automotive gearboxes and car manufacturers.
High automation and the presence of major gearbox manufacturers for next-generation smart vehicles will have a rising impact on the gearbox market in the Asia Pacific.
Magna International (Canada), Continental AG (Germany), ZF Friedrichshafen AG (Germany), BorgWarner Inc.(U.S.), Allison transmission Inc. (U.S.), Aisin Seiki Co. Ltd (Japan), and Eaton Corporation (Ireland).