Techno World Automotive-Transmission-Systems-Market | Page 2

period. Automatic and semi-automatic transmission systems used in the vehicle are expected to
drive growth of automotive transmission market, as these transmission systems are expected to
replace conventional mechanism. Transmission technologies such as dual clutch transmission
and continuous variable transmission have a high market potential due to their fuel efficiency.
Passenger car is the fastest growing segment in automotive transmission system
market
Among vehicle types, passenger car segment is the fastest growing segment, owing to
increasing sales of these vehicles worldwide. According to International Organization of Motor
Vehicle Manufacturers, in 2016, around 70 million units of passenger car were sold worldwide.
Growing passenger cars per thousand inhabitants over the past few years have reached to 182
per thousand inhabitants in 2015 from 178 in 2014, which is major factor fuelling growth of
passenger cars. These factors are expected to drive growth of the automotive transmission
systems market during the forecast period.
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Automotive Transmission Systems Market Regional Insight:
On the basis of geography, the automotive transmission system market is segmented into North
America, Europe, Asia Pacific, Middle East, and Africa. Asia Pacific is the fastest growing market
for the automotive transmission due to increasing disposable income of the population in the
region, which has led to the rise in sales of vehicles and relevant systems. According to Coherent
Market Insights, Asia Pacific held dominant position in the passenger cars segment. For instance,
according to OICA, passenger car sales in the region was valued at around US$ 39.4 million in
2016. Out of these, sales in China was valued at US$ 24.3 million. Europe held a considerable
market share in automotive transmission system market due to DCT-equipped cars and light
commercial vehicles. According to OICA, registrations or sales of new vehicles sales in the region
was valued at around US$ 20.1 million in 2016 and the requirement followed by US$ 20.9 million
in 2017
Automotive Transmission Systems Market Background:
Key players operating in the automotive transmission systems market include Getrag Corporate
Group, Aisin Seiki Co., ZF Friedrichshafen AG, Jatco Ltd., General Motors, GKN PLC, Magna
Powertrain, Eaton Corporation, Honda Transmission Manufacturing of America Inc., and Allison
Transmission Inc.
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