The International Organization of Motor Vehicle Manufacturers (OICA) estimates that 77,621,582 vehicles were produced globally in 2020, of which 21,787,126 units were commercial vehicles and 55,834,456 units were cars. Thus, the burgeoning production and sales of vehicles, especially in the Asia-Pacific (APAC) and North American regions, is projected to fuel the integration of automotive transmission systems in vehicles in the near future.
Moreover, the rapid technological advancements and the surging disposable income of people in developing countries will also help the automotive transmission market prosper in the forthcoming years. For instance, the Reserve Bank of India (RBI) data reveals that the gross national disposable income and net national disposable income of India grew from INR 1,92,62,652 crore in the financial year (FY) 2018–2019 to INR 2,06,30,319 crore in the FY 2019–2020 and INR 1,72,83,028 crore in the FY 2018–2019 to INR 1,85,11,719 crore in the FY 2019–2020, respectively.
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| Automotive Transmission Market Report |
The leading manufacturers of manual transmission systems and automatic transmission systems, such as dual-clutch transmission (DCT), automated manual transmission (AMT), and continuously variable transmission (CVT), include DENSO Corporation, Faurecia S.A., TRW Automotive Holdings Corp., Hitachi Automotive Systems, Continental AG, Hyundai Mobis Co. Ltd, Robert Bosch GmbH, ZF Friedrichshafen AG, BASF SE, Aisin Seiki Co. Ltd., Yazaki Corp., Sumitomo Electric Industries, Johnson Controls Inc., Lear Corp., Toyota Boshoku Corp., Magna International Inc., Delphi Automotive PLC, and JTEKT Corp.
According to P&S Intelligence, the APAC region leads the automotive transmission market, wherein China is the leading user of automotive transmission systems. The dominance of China can be attributed to the largescale automobile production and extensive demand for personal vehicles. The OICA states that China manufactured 5,231,161 commercial vehicles and 19,994,081 cars in 2020. Additionally, the mounting disposable income and accelerating urbanization in India and Thailand will also facilitate the adoption of automotive transmission systems in the region.
Thus, the soaring automobile sale and production and the growing customer preference for enhanced comfort and smooth driving options will augment the usage of automotive transmission systems in the upcoming years.
