Passenger Car Automatic Transmission Market to Grow with a CAGR of 6.9% through 2028
Stringent fuel efficiency and emissions regulations
and consumer demand for convenience are the factors driving the Global
Passenger Car Automatic Transmission Market in the forecast period 2024-2028.
According to TechSci Research report, “Passenger
Car Automatic Transmission Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Passenger Car Automatic
Transmission Market stood at USD 68.8 billion in 2022 and is anticipated to
grow with a CAGR of 6.9% in the forecast period, 2024-2028.
The Global Passenger Car Automatic Transmission Market
has undergone significant transformations and witnessed notable developments in
recent years. Automatic transmissions, characterized by their ease of use and
smooth driving experience, have gained substantial traction, with consumers
increasingly preferring them over manual alternatives. This shift in consumer
preference is driven by the desire for convenience, particularly in congested
urban areas, where automatic transmissions provide a more effortless driving
experience.
Another crucial factor shaping this market is the
tightening of fuel efficiency and emissions regulations worldwide. To meet
these stringent standards, automakers are continuously innovating and investing
in advanced transmission technologies. This includes the development of
multi-speed transmissions, continuously variable transmissions (CVTs), and
other systems designed to enhance fuel economy while maintaining the
performance and comfort levels expected by consumers.
Furthermore, the growth of electric vehicles (EVs) has
introduced a new dimension to the automatic transmission market. EVs typically
utilize single-speed automatic transmissions or direct drive systems,
eliminating the need for traditional multi-speed transmissions. As EV adoption
continues to rise, it has the potential to impact the market dynamics of
traditional automatic transmissions.
In addition to these factors, the emergence of
advanced driver-assistance systems (ADAS) and autonomous driving technologies
is influencing the automatic transmission market. These systems require
sophisticated transmission solutions that can seamlessly integrate with sensors
and computer systems to optimize vehicle control and safety.
In conclusion, the Global Passenger Car Automatic
Transmission Market is evolving to meet the demands of modern consumers,
regulatory requirements, and the ever-advancing automotive industry. The key
drivers include the shift towards automatic transmissions, a focus on fuel
efficiency, adaptations for electric vehicles, and the integration of
transmission systems with advanced driver-assistance and autonomous technologies.
These trends collectively shape the landscape of the passenger car automatic
transmission market.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "Global Passenger
Car Automatic Transmission Market.”
This region emerges as a powerhouse in the passenger
car automatic transmission market, owing to its massive automotive production
and consumption, particularly in countries like China and India. The rapid
urbanization, a burgeoning middle class, and increasing disposable income are
driving the demand for passenger cars with automatic transmissions.
Additionally, a growing preference for SUVs and sedans further boosts the
market in this region.
In North America, there's a continued preference for
automatic transmissions, with many consumers favoring the convenience they
offer. The market is characterized by a strong presence of domestic and
international automakers, with a focus on innovative transmission technologies
to meet stringent emissions regulations. The rise of electric and hybrid
vehicles in this region has also spurred the development of specialized
automatic transmissions. The European market has seen a steady shift towards
automatic transmissions, though manual transmissions still hold a significant
share. Fuel efficiency and emissions regulations are pushing automakers to
invest in advanced transmission technologies. The luxury and premium car
segments in Europe often feature high-end automatic transmissions, contributing
to the market's growth.
Other regions, such as Latin America, the Middle East,
and Africa, exhibit varying degrees of market growth. Economic factors,
consumer preferences, and infrastructure development play a significant role in
shaping the demand for automatic transmissions in these regions. Some markets
are experiencing a gradual shift towards automatic transmissions, while others
still predominantly use manual transmissions due to cost considerations. The
regional insights into the Global Passenger Car Automatic Transmission Market reveal
diverse trends driven by economic conditions, consumer preferences, and
regulatory factors. Asia-Pacific stands out as a dominant force, while North
America and Europe focus on technology innovation to meet regulatory
requirements and consumer demands. The rest of the world presents a mix of
opportunities and challenges, depending on local circumstances.
Major companies operating in Global Passenger Car
Automatic Transmission Market are:
- Aisin Seiki Co Ltd
- Allison
Transmission Holdings
- BorgWarner Inc.
- Continental AG
- Daimler AG
- Delphi Automotive
- Eaton Corporation
PLC
- Fiat Powertrain
Technologies
- Jatco Ltd.
- Magna International
Inc.
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“The Global
Passenger Car Automatic Transmission Market, we can anticipate continued growth
driven by several key factors. Consumer preferences for convenience and ease of
driving are expected to sustain the demand for automatic transmissions,
especially in urban areas. Stringent fuel efficiency and emissions regulations
will push automakers to invest in advanced transmission technologies to meet
these standards. The rising adoption of electric vehicles will necessitate
specialized automatic transmissions, creating new opportunities in the market.
Overall, the market's future looks promising as it aligns with evolving
consumer needs and industry regulations,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Global Passenger
Car Automatic Transmission Market, By
Vehicle Type (SUV, Sedan, Hatchback, MUV), By Fuel Type (Gasoline,
Diesel, and Hybrid), by Type (Automatic Transmission/Torque Converter,
Automated Manual Transmission, Continuously Variable Transmission, and Dual
Clutch Transmission), By Region and By Competition Forecast
& Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Passenger Car
Automatic Transmission Market and provides statistics & information on
market size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Passenger
Car Automatic Transmission Market.
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