Global Automotive Transmission Market Projected to Reach $146.2 Billion by 2031
Meticulous Research® has recently released a
comprehensive report titled “Automotive Transmission Market by Type (Manual
Transmission, Automated Manual Transmission, and Semi-automated Manual
Transmission), Engine Type (Petrol Engine and Diesel Engine), Vehicle Type,
Sales Channel, and Geography - Global Forecast to 2031.” The report
outlines key insights into the growing market, highlighting that the global
automotive transmission market is poised to reach $146.2 billion by 2031,
exhibiting a CAGR of 5.4% from 2024 to 2031.
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Key Drivers and Market Dynamics
The rapid growth of the automotive transmission market is
being driven by significant advancements in automotive transmission
technologies and the increasing enforcement of stringent regulatory
standards for emissions and fuel efficiency. These developments are
enabling automakers to deliver more efficient, eco-friendly, and
high-performance vehicles to meet evolving consumer and regulatory demands.
However, the complexity of advanced transmission systems and fluctuations in
raw material costs present potential challenges that may restrain market
expansion.
The report also notes the rising emphasis among automakers
on lightweight and highly efficient materials, coupled with the integration
of artificial intelligence (AI) and machine learning in transmission
systems, which is expected to create substantial growth opportunities.
Conversely, supply chain disruptions remain a persistent challenge,
hindering the smooth growth of the market.
Segment Analysis
The report delves into a detailed segmentation of the
automotive transmission market by type, engine type, vehicle type, and sales
channel.
By Transmission Type:
The global automotive transmission market is segmented into manual
transmissions, automated manual transmissions (AMT), and semi-automated manual
transmissions (SMT). The manual transmission segment is anticipated
to maintain the largest share—accounting for 48.0% of the market in
2024. This dominance is primarily attributed to the superior fuel efficiency
of manual transmissions, a significant factor for consumers concerned with fuel
economy and reducing their carbon footprint. Regions with high fuel costs or
stringent environmental regulations are likely to sustain the demand for manual
transmission vehicles.
Nevertheless, the automated manual transmission segment
is forecasted to experience the fastest growth, driven by its ability to
combine the convenience of automatic transmissions with the control of manual
systems. Industry leaders like ZF Friedrichshafen AG and Tata Motors
are at the forefront of innovation in AMT technologies, further propelling the
market forward. For instance, ZF's PowerLine 8-speed automatic transmission
launched in the U.S. in 2024 is set to scale up production significantly,
reinforcing demand across North America.
By Engine Type:
The market is bifurcated into petrol and diesel engines,
with the petrol engine segment expected to hold the larger share of 56.0%
in 2024. This dominance is linked to the compatibility of automated
transmissions—including dual-clutch transmissions (DCTs) and continuously
variable transmissions (CVTs)—with petrol engines, enhancing vehicle
performance and driving dynamics. The petrol engine segment is also expected to
achieve the highest growth rate, buoyed by the increasing demand for responsive
and engaging driving experiences.
By Vehicle Type:
The passenger car segment is projected to lead the
market, representing 47.0% of the global automotive transmission market
in 2024. The strong demand for advanced transmission technologies such as CVTs,
DCTs, and automatic transmissions in passenger cars is driven by a
shift toward more efficient, comfortable, and high-performance vehicles.
Furthermore, the sheer size of the passenger car market—both in production and
sales volume—amplifies the demand for cutting-edge transmission systems.
By Sales Channel:
In 2024, the original equipment manufacturer (OEM)
segment is anticipated to dominate, capturing 85.0% of the market
share. OEMs are increasingly expanding their global footprint, targeting
emerging markets, and tailoring their product offerings to meet regional
demands. Strategic collaborations with transmission component suppliers and
tech companies are enabling OEMs to integrate the latest features into vehicles
while optimizing costs and accelerating time-to-market for new technologies.
Geographic Insights
Regionally, Asia-Pacific is expected to claim the
largest share of the automotive transmission market—accounting for 41.0%
in 2024—due to rapid urbanization, rising disposable incomes, and
increasing vehicle ownership in countries like China, India, Japan, and South
Korea. Growing urban congestion, along with the demand for automatic
transmission systems, is further fueling market growth in this region.
Additionally, stringent regulatory mandates in the
Asia-Pacific region are pushing automakers toward more fuel-efficient and
environmentally friendly transmission solutions. Market players such as Aisin
Corporation are actively launching innovative technologies to cater
to this evolving demand. For instance, Aisin’s recent showcase at the 2023
Detroit Auto Show highlighted advancements in hybrid transmission
systems and electrification technologies, which are expected to gain
significant traction in the region.
Market Leaders
Key players shaping the competitive landscape of 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.)
- KATE
LLC (Russia)
These industry leaders are focused on technological
advancements, geographic expansion, and strategic partnerships
to strengthen their positions and capitalize on new growth opportunities in the
evolving automotive transmission market.
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