Automotive Transmission Market Expansion Projected to Gain an Uptick Automotive Transmission Market Projected to Discer | Page 2

According to the mindaspires analyst survey, the global automotive transmission market was
valued at US$30020 Mn in 2016 and is projected to rise to US$53.2 Bn by 2025, registering a
CAGR of 6.6% 2025 End
Manual Transmission Continues to Remain Most Preferred Owing to Low Cost
In terms of the type of transmission chiefly used in automobiles, namely manual and
automatic, the segment of manual transmission is presently the clear leader. Low cost of
vehicles with manual transmission, well-established market for manual transmission vehicles,
and lack of awareness among consumers regarding the vast benefits of automatic
transmission have worked in favor of the manual transmission segment so far.
Geographically, the rising uptake of passenger vehicles across emerging economies such as
India and China, the market for automotive transmission in Asia Pacific is likely to emerge as
the most lucrative one. The market in North America is also expected to exhibit a promising
pace of expansion owing to the demand for vehicles with advanced transmission systems.
Rising Focus on Achieving Improved Fuel Economy Drives Major Developments in
Market
While the continuous rise in demand for passenger vehicles across emerging economies
forms the central factor driving the steady expansion of the market, a number of factors are
also leading to vast changes in the way the market is developing. Factors such as changing
preferences of consumers in terms of vehicle performance, the need for improved fuel
economy of vehicles, and higher power requirements are pushing automotive companies and
transmission system manufacturers to invest more in research and development activities.
Moreover, automobile manufacturers are also continuously undertaking research efforts to
improve vehicle performance so as to reduce transmission power response time and meet
carbon emission norms.
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The scenario has resulted in the development of technologically advanced products such as
continuous variable transmission (CVTs), 9-speed automatic transmission, and dual shafts
gearboxes (DSG). The increased demand for automatic transmission in entry-level vehicles,
especially across emerging economies such as India, Brazil, and Mexico owing to the added
convenience and comfort offered by automatic transmission, is also working in favor of the
market.
Lack of Awareness Regarding Benefits of Automatic Transmission Continues Limit
Growth
The market struggles to exploit its full potential across regional markets that feature
consumer that lack the awareness regarding the vast benefits of advanced transmission
systems and are highly sensitive regarding the cost of advanced vehicles. Several economies
with a thriving automotive industry due to the rising disposable incomes and increased uptake
of passenger vehicles, such as India, China, Mexico, and Brazil, still showcase the dominance
of vehicles boasting manual transmission. While lack of awareness is largely attributable for