Meticulous Research®, a leading global market intelligence firm, has published its latest report titled, “Automotive Transmission Market by Type (Manual, Automated Manual, Semi-automated), Engine Type (Petrol, Diesel), Vehicle Type, Sales Channel, and Geography – Global Forecast to 2031.” The report forecasts that the global automotive transmission market will reach a value of $146.2 billion by 2031, growing at a CAGR of 5.4% from 2024 to 2031.

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Market Growth Drivers
The growth of the automotive transmission market is primarily driven by significant advancements in transmission technologies, along with the enforcement of stringent regulatory standards and emission norms. However, the complexity of transmission systems and fluctuations in raw material prices present challenges to the market's growth.

On the upside, the rising demand for lightweight, highly efficient materials in vehicle manufacturing, combined with the integration of AI and machine learning in automotive transmission systems, is set to unlock new growth opportunities. Despite this, the industry faces significant hurdles in the form of ongoing supply chain disruptions.

Market Segmentation and Key Insights
The global automotive transmission market is segmented into:
• Type: Manual, Automated Manual (Automatic, Continuously Variable Transmission (CVT), and Dual-clutch), and Semi-automated Manual
• Engine Type: Petrol and Diesel
• Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles (Trucks and Buses)
• Sales Channel: Original Equipment Manufacturers (OEMs) and Aftermarket

Type Segment: Dominance of Manual Transmissions
In 2024, the manual transmission segment is expected to dominate, capturing 48.0% of the global market share. Manual transmissions are favored for their superior fuel efficiency compared to automatic counterparts, particularly in regions with high fuel costs and strong environmental regulations. Their simpler design, which translates to lower maintenance and repair costs, continues to make them a popular choice among cost-conscious consumers.

However, the automated manual transmission segment is forecasted to experience the highest growth, driven by the increasing adoption of dual-clutch and CVT technologies that offer enhanced fuel efficiency and driving comfort. For instance, ZF Friedrichshafen AG announced in February 2024 the production of PowerLine 8-speed automatic transmissions at its South Carolina facility to meet growing demand in the U.S. market.

Engine Type: Petrol Engines Lead the Charge
The petrol engine segment is anticipated to account for 56.0% of the market share in 2024, reflecting the increasing compatibility of advanced transmission technologies with petrol engines. Automated transmissions, including DCTs and CVTs, are optimizing the performance of petrol-powered vehicles, offering smoother gear transitions and enhanced driving dynamics.

The segment is also expected to grow at the highest CAGR during the forecast period, driven by consumer demand for efficient, high-performance vehicles equipped with the latest transmission technologies.

Vehicle Type: Passenger Cars Hold the Largest Market Share
Passenger cars are expected to account for 47.0% of the global automotive transmission market in 2024. The widespread adoption of advanced transmission systems, including CVTs and DCTs, is fueling demand within this segment. Additionally, the large volume of vehicle production and sales in the passenger car market ensures a steady demand for innovative transmission solutions.

Sales Channel: OEMs Maintain a Strong Foothold
Original Equipment Manufacturers (OEMs) are projected to dominate the market, with an 85.0% share in 2024. OEMs are continuously expanding their global footprint, with many targeting emerging markets through tailored transmission offerings and local partnerships. These strategic moves are set to drive sustained growth for OEMs during the forecast period.

Regional Insights: Asia-Pacific Leads the Way
Asia-Pacific is projected to command the largest share of 41.0% of the global automotive transmission market in 2024. The region’s rapid urbanization, rising disposable incomes, and expanding middle class are driving vehicle demand, especially in key markets like China, India, and Japan. Moreover, the increasing adoption of automatic transmissions in response to urban traffic congestion and regulatory requirements is boosting growth prospects in this region.

In September 2023, Aisin Corporation showcased its cutting-edge electrification technologies, including hybrid transmission systems, at the Detroit Auto Show, further underlining the region's commitment to innovation in the automotive space.

Key Market Players
Prominent players in the global automotive transmission market include ZF Friedrichshafen AG (Germany), Magna International Inc. (Canada), BorgWarner Inc. (U.S.), Continental AG (Germany), Eaton Corporation plc (U.S.), Allison Transmission Holdings, Inc. (U.S.), Marelli Holdings Co., Ltd. (Japan), AISIN Group (Japan), Bonfiglioli S.P.A (China), Hyundai Transys Inc. (South Korea), Musashi Seimitsu Industry Co., Ltd. (Japan), Schaeffler AG (Germany), Vietesco Technologies Group AG (Germany), GKN plc (U.K.), and KATE LLC (Russia).

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