Albany – New York, Oct. 12, 2015 (GLOBE NEWSWIRE) — According to a new market report published by Transparency Market Research “Automotive Transmission Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2021,” the automotive transmission market was valued at US$119.7 mn in 2014, which is expected to reach US$181.8 mn by 2021, logging a CAGR of 5.9% from 2015 to 2021.
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The automotive transmission transfers the required torque from the engine to the drive wheels of the vehicle by changing multiple gear ratios. The automotive transmission system uses clutch which is operated either manually, automatically or semi automatically. This provides optimum generation of power from engine of the vehicle. The power transmission of the vehicle differs through different gear ratios. Earlier, vehicles used to have 4-speed transmission, latest modern transmission technology have 8-speed and 9-speed transmission which enhance the comfort and fuel efficiency of the vehicle.
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The global automotive transmission market is segmented by geography into North America, Europe, Asia Pacific (APAC) and Rest of the World (RoW). In 2014, Asia Pacific accounted for the largest market share in the global automotive transmission market. The countries such as China and India are driving the automotive transmission market in the region. Asia Pacific accounted 34% market share of the total global automotive transmission market.
The global automotive transmission market has been segmented on the basis of transmission type into: manual and automatic. Manual transmission accounted for the largest market share in 2014. Manual transmission is preferred in Asia Pacific and Europe and together these two regions account for 60% of the total market share in the global automotive transmission market at present. Although this trend is expected to change over the forecast period and there is a shift in preference from manual system to automatic transmission system, this is expected to drive the market over the forecast period.
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On the basis of fuel type, the global automotive transmission market has been segmented into gasoline, diesel and others. Gasoline accounted for the major market share in the global automotive transmission market in 2014. Diesel is expected to substitute gasoline over the forecast period and is expected to account for the maximum share of fuel used in automotives. Other alternative source of fuel sources such as electric and hybrid vehicles expected to rise over the forecast period.
The global automotive transmission market on the basis of type of vehicle has been segmented into: passenger cars, LCV’s, ICV’s, HCV’s, off road vehicle, construction equipment, defense vehicles and farm tractors. Passenger cars accounted for the largest market share in global automotive transmission market in 2014. The key players operating in the automotive transmission market are Magna International Inc. (Canada), Eaton Corporation (Ireland), Continental AG (Germany), ZF Friedrichshafen (Germany), Allison Transmission (U.S.A), BorgWarner Inc. (U.S), Aisin SEIKI Co. Ltd. (Japan), and GKN PLC (U.K) among others.
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The automotive transmission market has been segmented as follows:
Automotive Transmission Market: By Transmission Type
Automotive Transmission Market: By Fuel Type
Automotive Transmission Market: By Industry Application
- Passengers Cars
- Off Road Vehicle
- Construction Equipment
- Defense Vehicles
- Farm Tractors
Automotive Transmission Market: By Geography
- United Kingdom
- Rest of Europe)
- South Korea
- Rest of Asia Pacific
Rest of the World
- South America
- Middle East
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