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Automotive Gear Market 2018
Automotive Gear Market Share, Size, Trends, And Business Opportunity Analysis Report 2018
include historic data, with forecast data to 2023. Automotive Gear Market report is helpful for
future strategy development, and to know about Market Drivers, Restraints, Opportunities, And
Global market size, share, Growth, Trends, key players forecast to 2023
Global Automotive Gear Market, By material (metallic and plastic) By product type (Planetary,
Bevel, Helical, Non-Metallic and other), By vehicle type (Passenger vehicle, Commercial vehicle)
and Region - Forecast 2016-2023.
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Market Synopsis of Automotive Gear Market:
Market Scenario:
The high demand for automotive gears is due to the growth in the automotive industry. An
automotive gear helps give an automobile, a smooth start to and allows the outer wheel to
rotate faster than the inner wheel for safer turns. Smooth gear shifting enhances the driving
experience as well as the growing demand for low-carbon-footprint technologies fuels the
growth of the global automotive gears market. Moreover, rising disposable incomes and
vehicle-ownership boosts the market growth. Lightweight and highly durable aluminum and
composite gears are estimated to gain higher popularity during the forecast period. Focus
towards high-quality products & the changing lifestyle of consumers and increasing spending
power, enhance the growth of the gear market for automotive sector.
However, the high cost of advanced gear system than the conventional gear system acts as a
barrier for the growth of automotive gear market.
Global Automotive gear market was valued at USD 28.40 Billion in 2015 and is projected to
grow at a CAGR of 6.4% during the forecast period.
Regional Analysis:
Asia-Pacific market is dominating the market of automotive gear market due to growth in
automotive sector. Development of automotive manufacturing industries in developing
economies such as China and India are driving the market for automotive gears. The market in
the developing countries is largely driven by economic growth and ongoing industrialization,
which helps in production of motor vehicles and other manufacturing output.