Automotive Transmission Market Analysis

Engine Type {Internal Combustion Engines (ICEs), Electric Engines}

The global automotive transmission market is segmented and analyzed for demand and supply by engine type segment into internal combustion engines (ICE) and electric engines. Amongst these segments, the electric engines segment is anticipated to garner the largest revenue by the end of 2037. Transmission systems in electric cars (EVs) are frequently significantly simpler than those in conventional internal combustion engine vehicles. There is no need for gears to boost torque at low speeds since, unlike internal combustion engines, electric motors can create their full torque from a complete stop. Owing to this, the majority of EVs only have a single-speed gearbox. An electric vehicle employs a gear reduction system, sometimes known as a gearbox, in place of a conventional transmission to convert the high-speed rotation of the electric motor to the slower revolution of the driving wheels. This gear reduction system can either be a direct drive system—integrated directly into the electric motor—or a separate component. Therefore, backed by the growing fleet of electric vehicles along with the surge in the sales of electric cars worldwide, the segment will boom. For instance, the electric car fleet is expected to become more than 300 million in 2030 with electric cars accounting for 60% of new car sales globally.

Vehicle Type (Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle)

The global automotive transmission market is also segmented and analyzed for demand and supply by vehicle type into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. Out of these segments, the light motor vehicle segment is projected to produce the most revenue by 2037 and garner the largest market share. Vehicles that are generally lighter and smaller in size and weight and are intended for personal transportation are referred to as light motor vehicles. Typically, this market sector consists of passenger automobiles and light trucks such as pickups, SUV, and vans.  Light motor vehicles are preferred for urban use and personal transportation since they are typically thought to be more efficient and simpler to operate than bigger vehicles. Many people worldwide are buying cars with rising disposable incomes and choosing the safety and security that a car provides. Hence, it is projected that there will be over 255 million light motor vehicles in the U.S.  alone by 2030.

Our in-depth analysis of the automotive transmission market includes the following segments: