Automotive Synchronizer Market to be dominated by Passenger Car through 2027
High demand for luxury vehicles and increase in efforts to
enhance vehicle performance is expected to drive the demand of global automotive
synchronizer market in the forecast period, 2023-2027.
According
to TechSci Research report, “Automotive Synchronizer Market - Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2017-2027”,
the global automotive synchronizer market is anticipated to grow at a steady
rate in the forecast period, 2023-2027. The increasing need for handling
efficiency and safety in automobiles and the launch of newer automobile models
with superior features are driving the demand of the global automotive
synchronizer market. Automotive synchronizer helps maintain smooth vehicle
traction, elevating the passengers' experience while driving the vehicles.
Automotive
gear is a rotating part containing teeth that form a mesh with gear to generate
torque. Gears are used in automobiles to change speed, torque, direction of
power source and have witnessed the transformation from manual gear to
automatic gear transmission. Improvements in the fuel efficiency and product
durability of the vehicle and the advancement of the existing infrastructure to
ensure smooth functioning of the engine and prevent engine losses are
accelerating the market demand.
However,
rapid changes in raw materials prices may restrain the growth of the global
automotive synchronizer market in the forecast period.
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The
global automotive synchronizer market is segmented by vehicle type, demand
category, material, competitional landscape, and regional distribution.
Based on the vehicle type, the global
automotive synchronizer market is divided into passenger car, light commercial
vehicle, medium & heavy commercial vehicle, and OTR. The passenger car
segment is expected to hold the largest market share for the forecast period,
2023-2027. The increasing need for private vehicle ownership and the rise in
the purchasing power of consumers is influencing the sales of passenger cars
across the globe. The surge in demand for fuel-efficient systems and enhanced
driving experience makes the market players fulfill customer demand.
Improvements in the economic conditions of developing countries like India,
China, and Brazil and the change in living standards have accelerated the need
for advanced technologies, making the manufacturers make advancements in
components like synchronizers that affect vehicle performance.
Based on the demand category, the global
automotive synchronizer market is bifurcated into OEM and replacement. The OEM
segment is anticipated to dominate the global market share in the forecast
period. The use of advanced technologies in the manufacturing process and the
increase in the production of the passenger car segment are expected to fuel
the demand of the OEM segment. The automotive parts and components manufactured
by the OEMs are of high quality as they use quality raw material. They offer
warranty guarantees on their products, which plays a crucial role in the sales
of automotive components.
Based on the material, the global
automotive synchronizer market is divided into steel, brass and other. The
steel segment is expected to account for a significant market share for five
years. Steel is the preferred choice among the manufacturers as they are hard, tough,
and has high tensile strength. Steel has a very high strength-to-weight ratio
and high resistance to wear and can improve its physical properties through
heat treatment. It is a cost-effective option for manufacturers to attain
desired quality according to the requirement.
Based on the regional analysis, the
Asia-pacific region holds the largest market share and is expected to witness
significant growth opportunities in the forecast period. The rise in the demand
for fuel-efficient vehicles and passenger cars and the country's improving
economic conditions are driving the market growth in the forecast period.
Presence of significant market players in the region and the increasing vehicle
production in countries like India ad China to satiate the high demand for
personal and commercial vehicles is expected to create lucrative opportunities
for the global automotive synchronizer market growth.
Major market players operating in global
automotive synchronizer market are:
- Schaeffler Group
- Anand CY Myutec Automotive Private Limited
- Dana Graziano Srl
- Oerlikon Friction Systems GmbH
- Hoerbiger Holding AG
- Owari Seiki Co. Ltd.
- Diehl Metall Stiftung & Co. Kg
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“Intense competition among the market
players makes them make substantial investments in research and development
activities to find innovative technologies and launch advanced products to stay
ahead. Increasing vehicle production and high demand for improved vehicle
performance with a lower carbon footprint fuel adopting measures that influence
market demand. The rise in demand for automatic transmission in vehicles and
the use of lightweight materials in the manufacturing process is expected to
propel the global automotive synchronizer market growth till 2027” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Automotive Synchronizer
Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027”, has evaluated the future
growth potential of global automotive synchronizer 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 automotive synchronizer market.
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