Download Sample, Vehicle Sales Have a Direct Impact on the Growth of the Gears Market
The global automotive gears market is expected to increase significantly over the forecast period, owing mostly to the expanding automotive sector. The increased production volume of passenger cars and commercial vehicles in recent years has directly contributed to the growth of the automotive sector. Furthermore, the rising installation of mechanized and automated parts in automobiles, technological breakthroughs, and the need for greater driving experiences in terms of smooth gear shift and enhanced acceleration are propelling the automotive gears business forward. The automotive gears market is divided into spur, helical, rack and pinion, and worm gear categories.
Spur gears are easy to manufacture and may be utilized for a variety of applications in the automobile industry, therefore market demand for them is expected to expand significantly in the future years. Automotive gears are widely used in transmission, steering, and differential systems. As gears are widely used in vehicle differential systems, the automotive gears market is likely to expand significantly in the future years.
Spur gears are easy to manufacture and may be utilized for a variety of applications in the automobile industry, therefore market demand for them is expected to expand significantly in the future years. Automotive gears are widely used in transmission, steering, and differential systems. As gears are widely used in vehicle differential systems, the automotive gears market is likely to expand significantly in the future years.
Increasing Traffic Bottlenecks to Push the Market Growth Further
According to the OECD, in most European countries, the average commute time is 38 minutes, compared to 25 minutes in the United States. This figure can reach 45 minutes in the United Kingdom, which has the most congested commuting in Europe. However, in Asian cities, daily commuting time is typically the longest, owing to related high congestion and density. Contrary to popular belief, commute times increase when public transportation accounts for a greater proportion of total trips.
Traffic jams and long commutes are shaking deep-seated reliance on manual-transmission autos in densely populated urban areas. The tedium of clutch, brake, and gear changes in bumper-to-bumper traffic is increasing demand for automatic automobiles. The average city commute now takes up to two hours every day. Long-distance commercial and freight vehicles face much more severe delays. Growing urban populations and automobile ownership are anticipated to raise traffic density even further. As smart infrastructure develops and digitally innovates to meet these socioeconomic shifts, most drivers are likely to choose automated features that lead to a sweeping shift toward simple and efficient travel. This shift in the market for choosing automatic transmission from conventional manual transmission is anticipated to propel the growth of the automotive gears market.
Traffic jams and long commutes are shaking deep-seated reliance on manual-transmission autos in densely populated urban areas. The tedium of clutch, brake, and gear changes in bumper-to-bumper traffic is increasing demand for automatic automobiles. The average city commute now takes up to two hours every day. Long-distance commercial and freight vehicles face much more severe delays. Growing urban populations and automobile ownership are anticipated to raise traffic density even further. As smart infrastructure develops and digitally innovates to meet these socioeconomic shifts, most drivers are likely to choose automated features that lead to a sweeping shift toward simple and efficient travel. This shift in the market for choosing automatic transmission from conventional manual transmission is anticipated to propel the growth of the automotive gears market.
Recent Trends in the Automotive Gear Industry:
- Electric vehicles (EVs) gaining traction, impacting traditional gear demand.
- Advanced transmission systems optimizing fuel efficiency and performance.
- Lightweight materials enhancing gear durability and fuel economy.
- Shift towards hybrid powertrains driving demand for innovative gear solutions.
- Integration of IoT and AI technologies for smart gear systems.
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Growing Popularity of Electric Vehicles is Anticipated to Hamper Market Growth
Electric vehicle market penetration is currently low, accounting for only a small portion of overall vehicle sales. However, EV industry growth is projected to bolster as governments around the world encourage zero-emission vehicles through economic incentives and favorable policies. The number of gears required in automobiles is projected to decrease as electric vehicles have fewer mechanical parts than conventional gasoline-powered vehicles. Furthermore, due to advancements in motor drive technology, the growth of the automotive gears sector may decelerate throughout the forecast period.
Key Players are Gearing-up for R&D and Possible JV to Increase Productivity
Some of the drivers driving global expansion in the passenger vehicle Automotive Gears industry are increased demand for sophisticated features, rising living standards, and rising per capita revenue. Dana Incorporated stated in March 2019 that it has completed the acquisition of the Oerlikon Group's Drive Systems sector. In September 2021, ZF announced the integration of the MICO brand and new products at MINExpo 2021. In addition to the Redulus4F Industrial Gearbox Series and Advanced Serviceability Solutions, the company has released various additional items. JATCO developed the "CVT-X" continuously variable transmission for medium and large FWD cars in June 2021, with increased environmental economy and drivability. It claims to have achieved more than 90% transmission efficiency, which was previously thought to be unachievable for a CVT.
Other than this Eaton Corporation Bharat Gears Limited, GKN Plc., Inc., Altra Industrial Motion Corporation, Showa Corporation, American Axle and Manufacturing, Inc., Linamar Corporation, NSK Limited, and Univance Corporation etc. are some of the prominent market players operating in the global automotive gear market.
Other than this Eaton Corporation Bharat Gears Limited, GKN Plc., Inc., Altra Industrial Motion Corporation, Showa Corporation, American Axle and Manufacturing, Inc., Linamar Corporation, NSK Limited, and Univance Corporation etc. are some of the prominent market players operating in the global automotive gear market.
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North America and Europe are Likely to Account for a Sizable Market Share
The Asia-Pacific region is expected to have an impact on the automotive gears market, with China playing an important part in the sector's progress. The Asia-Pacific region has the largest automotive equipment market. Demand for automotive gear is predicted to skyrocket in the future years, thanks to growing automobile production in countries such as India and China, as well as manufacturers' emphasis on expanding manufacturing capacity.
North America is predicted to be a significant market throughout the projection period due to the region's large base of vehicle consumers, particularly commercial vehicles, enabling increased expansion of the automotive gears industry. As a result, the thriving North American automobile market offers several opportunities for makers of automotive gear and other automotive components. Europe is likely to account for a significant percentage of the global automotive gears market by 2033, followed by North America, with Italy, the United Kingdom, France, and Germany leading the way.
North America is predicted to be a significant market throughout the projection period due to the region's large base of vehicle consumers, particularly commercial vehicles, enabling increased expansion of the automotive gears industry. As a result, the thriving North American automobile market offers several opportunities for makers of automotive gear and other automotive components. Europe is likely to account for a significant percentage of the global automotive gears market by 2033, followed by North America, with Italy, the United Kingdom, France, and Germany leading the way.
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The report provides a detailed overview of the automotive gear market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for automotive gear market has been offered for all regional market share, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the automotive gear market. These Y-o-Y projections on regional and country-level markets brighten the political, economic and business environment outlook, which are anticipated to have a substantial impact on the growth of the automotive gear market. Some key country and region included in the automotive gear market report as follows:
| Regions | Countries |
|---|---|
| North America | United States, Canada |
| Latin America | Brazil, Mexico, Argentina, Colombia, Chile, Rest of Latin America |
| Europe | Germany, United Kingdom, France, Italy, Spain, Russia, Poland, Netherlands, Belgium, Sweden, Austria, Slovakia, Hungary, Romania, Czech Republic, Rest of Europe |
| Asia Pacific | China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Vietnam, Thailand, Rest of Asia Pacific |
| Middle East and Africa | GCC Countries, South Africa, Egypt, Turkey, Morocco, Nigeria, Iran, Rest of MEA |
Automotive Gear Market Research Report Covers In-depth Analysis on:
- Automotive gear market detailed segments and segment-wise market breakdown
- Automotive gear market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in automotive gear industry)
- Current, historical and forthcoming 10 years market valuation in terms of automotive gear market size (US$ Mn), volume (Units), share (%), Y-o-Y growth rate, CAGR (%) analysis
- Automotive gear market demand analysis
- Automotive gear market pricing analysis over forecast period (by key segment and by region)
- Automotive gear market regional insights with region-wise market breakdown
- Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
- Latest developments and innovations in automotive gear market
- Regulatory landscape by key regions and key countries
- Supply chain and value chain analysis in automotive gear market
- Automotive gear market sales and distribution strategies
- A comprehensive overview of parent market
- A detailed viewpoint on the automotive gear market forecast by countries
- Mergers and acquisitions in automotive gear market
- Essential information to enhance market position
- Robust research methodology
- Frequently Asked Questions -
What are the key market drivers influencing the growth of the automotive gear industry?
The primary drivers include rising demand for fuel-efficient vehicles, advancements in gear manufacturing technologies, and growing adoption of automatic transmission systems across passenger and commercial vehicles.
What challenges are faced by manufacturers in the automotive gear market?
Challenges include fluctuating raw material costs, stringent government regulations on emissions, and the increasing shift towards electric vehicles, which demand alternative drive systems.
How are advancements in material technology impacting automotive gears?
Advanced materials, such as composites and lightweight alloys, improve gear durability and performance while contributing to vehicle weight reduction, meeting consumer demand for energy-efficient transportation solutions.
