Automotive Automatic Transmission Market Is Driven By Increasing Automotive Production And Sales Globally
Pune, Maharashtra, November 06, 2019 (Wired Release) Prudour Pvt. Ltd. – The automotive automatic transmission is also called as auto, self-shifting transmission, n-speed automatic or AT, is a critical part of a vehicle’s powertrain, which transfers power developed by the engine to the driven wheels. Nowadays, automotive manufacturers are focusing to minimize power losses in the transmission along with maximizing efficiency. It comprises of the gearbox, clutch, rear axle, propeller shaft, and wheels.
There are different kinds of automatic transmissions, including the automatic transmission (AT), the automated manual transmission (AMT), dual clutch automatic transmission (DCT) and the continuously variable transmission (CVT). These automatics used in passenger vehicles, commercial vehicles, as well as off-highway vehicles.
The major factors driving the target market include the emergence of lightweight vehicles, growing demand for fuel-efficient vehicles along with smooth driving experience. In addition, stringent regulatory norms have fueled the growth of the market. Moreover, significant growth in automobiles, increasing RandD activities related to transmission technologies, along with rising demand for reduced carbon footprint technologies are expected to drive the global automotive automatic transmission market in the coming years. Properly designed and programmed transmission system can improve fuel efficiency, which likely helps the automotive OEM to meet the stringent environmental and emission norms in various countries.
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A recent trend observed in the target market is manufacturers are opting automatic transmission systems rather than a manual transmission, owing to the emergence of advanced automotive engines and the arrival of electric vehicles (EVs) and hybrid vehicles. Moreover, smooth and faster gear-shifting abilities and low involvement while driving are some factors extending automotive automatic transmission demand across the globe. Whereas, the high cost of advanced transmission systems may hamper growth of the target market.
Geographically, the rising adoption of passenger vehicles in emerging countries such as China and India, the market for automotive transmission in the Asia Pacific registering the highest growth rate. Increasing automotive sales, the presence of a large number of automotive manufacturers, stringent guidelines to reduce carbon emissions, technological advancements such as 9-speed automatic transmission for passenger cars and dual shafts gearboxes (DSG) in countries such as Japan, China, India, and South Korea is projected to impact the global market growth positively. The market in North America is anticipated to register fast pace over the forecast period, owing to the increasing demand for sports sedans, luxury cars, and high-performance cars. Moreover, increasing demand for aftermarket transmission system is significant in Europe and North America which might positively impact the automotive automatic transmission market globally.
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Key players of automotive automatic transmissions have been profiled in the report. These include ArcelorMittal, ThyssenKrupp, JFE, POSCO, Baosteel Group, Hebei Iron and Steel, Bohai Steel Group, NSSMC, Shougang, Ansteel, Tata Steel, Shandong Steel Group, Jiangsu Shagang, Wuhan Iron and Steel, Maanshan Steel, and Hyundai Steel, Gerdau, and Nucor Corporation. A majority of these companies are likely to expand their manufacturing bases, integrate smart technologies to increase the performance and improve the working of the vehicles. In March 2018, for instance, Jaguar Land Rover India launched Range Rover Evoque Convertible with the automatic transmission system.