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Global Automotive Transmission Gears Market Growth Accelerated by Rising Demand for Fuel-Efficient Vehicles

Automotive Transmission Gears Market

Automotive transmission gears are essential components used in modern vehicles to transfer torque and rotational power from an engine to wheels. It allows vehicles to move at different speeds and enables reversing functionality. This critical gear system improves fuel efficiency and performance of vehicles. An increasing demand for passenger vehicles and stringent emission norms are encouraging automakers to focus on manufacturing fuel-efficient and lightweight vehicles. This is boosting the adoption of advanced transmission technologies and light-weight materials in gear manufacturing.

The global Automotive Transmission Gears Market is estimated to be valued at US$ 28567 Mn in 2023 and is expected to exhibit a CAGR of 8.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Key Trends:

The demand for fuel-efficient vehicles is driving automakers to focus on developing lightweight transmission components. Lightweight gears allow engines to function more efficiently while improving the torque and power transmission capabilities. Manufacturers are increasingly adopting composite materials like carbon fiber and magnesium alloys to manufacture lightweight gears. Composite gears are nearly 30% lighter than conventional steel gears and offer significant weight reduction advantages. The rising use of lightweight composite materials in gear manufacturing is expected to accelerate the demand for automotive transmission gears over the forecast period.

Segment Analysis:

The global automotive transmission gears market is segmented by material, type and vehicle type. The aluminum segment dominates the market owing to its high adoption. Aluminum gears are increasingly being used over iron & steel ones since they offer advantages like lower operating costs, better performances and lower weight.

Key Takeaways:

The Global Automotive Transmission Gears Market Size is expected to witness high growth at a CAGR of 8.3% during the forecast period of 2023 to 2030. The market size is projected to grow from US$ 28567 Mn in 2023 to US$ 50000 Mn by 2030.

Regional analysis

Asia Pacific dominates the global market due to high automotive production in countries like China and India. China has emerged as the largest producer of automobiles globally. Moreover, growing adoption of automatic transmission in passenger and commercial vehicles is further fueling market growth in the region.

Key players

Key players operating in the automotive transmission gears market are American Axle & Manufacturing Holdings Inc., AmTech International, Bharat Gears Ltd, Cone Drive, Dynamatic Technologies Limited, Franz Morat Holding GmbH & Co. KG, Gleason Corporation, IMS Gear SE & Co. KGaA, Robert Bosch GmbH, RSB Group, Showa Corporation, UAG LLP, and ZF Friedrichshafen AG.

Explore more information on this topic, Please visit -

https://www.insightprobing.com/automotive-transmission-gears-market-size-and-trends-analysis/ 

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