According to TechSci Research report, “Passenger Car Automatic Transmission Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Passenger Car Automatic Transmission Market stood at USD 68.8 billion in 2022 and is anticipated to grow with a CAGR of 6.9% in the forecast period, 2024-2028.
The Global Passenger Car Automatic Transmission Market has undergone significant transformations and witnessed notable developments in recent years. Automatic transmissions, characterized by their ease of use and smooth driving experience, have gained substantial traction, with consumers increasingly preferring them over manual alternatives.
This shift in consumer preference is driven by the desire for convenience, particularly in congested urban areas, where automatic transmissions provide a more effortless driving experience.
Another crucial factor shaping this market is the tightening of fuel efficiency and emissions regulations worldwide. To meet these stringent standards, automakers are continuously innovating and investing in advanced transmission technologies. This includes the development of multi-speed transmissions, continuously variable transmissions (CVTs), and other systems designed to enhance fuel economy while maintaining the performance and comfort levels expected by consumers.
Furthermore, the growth of electric vehicles (EVs) has introduced a new dimension to the automatic transmission market. EVs typically utilize single-speed automatic transmissions or direct drive systems, eliminating the need for traditional multi-speed transmissions. As EV adoption continues to rise, it has the potential to impact the market dynamics of traditional automatic transmissions.
In addition to these factors, the emergence of advanced driver-assistance systems (ADAS) and autonomous driving technologies is influencing the automatic transmission market. These systems require sophisticated transmission solutions that can seamlessly integrate with sensors and computer systems to optimize vehicle control and safety.
In conclusion, the Global Passenger Car Automatic Transmission Market is evolving to meet the demands of modern consumers, regulatory requirements, and the ever-advancing automotive industry. The key drivers include the shift towards automatic transmissions, a focus on fuel efficiency, adaptations for electric vehicles, and the integration of transmission systems with advanced driver-assistance and autonomous technologies. These trends collectively shape the landscape of the passenger car automatic transmission market.
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This region emerges as a powerhouse in the passenger car automatic transmission market, owing to its massive automotive production and consumption, particularly in countries like China and India. Rapid urbanization, a burgeoning middle class, and increasing disposable income are driving the demand for passenger cars with automatic transmissions. Additionally, a growing preference for SUVs and sedans further boosts the market in this region.
In North America, there's a continued preference for automatic transmissions, with many consumers favoring the convenience they offer. The market is characterized by a strong presence of domestic and international automakers, with a focus on innovative transmission technologies to meet stringent emissions regulations. The rise of electric and hybrid vehicles in this region has also spurred the development of specialized automatic transmissions.
The European market has seen a steady shift towards automatic transmissions, though manual transmissions still hold a significant share.
Fuel efficiency and emissions regulations are pushing automakers to invest in advanced transmission technologies. The luxury and premium car segments in Europe often feature high-end automatic transmissions, contributing to the market's growth.
Other regions, such as Latin America, the Middle East, and Africa, exhibit varying degrees of market growth. Economic factors, consumer preferences, and infrastructure development play a significant role in shaping the demand for automatic transmissions in these regions. Some markets are experiencing a gradual shift towards automatic transmissions, while others still predominantly use manual transmissions due to cost considerations.
The regional insights into the Global Passenger Car Automatic Transmission Market reveal diverse trends driven by economic conditions, consumer preferences, and regulatory factors. Asia-Pacific stands out as a dominant force, while North America and Europe focus on technology innovation to meet regulatory requirements and consumer demands. The rest of the world presents a mix of opportunities and challenges, depending on local circumstances.
Major companies operating in the Global Passenger Car Automatic Transmission Market are:
- Aisin Seiki Co Ltd
- Allison Transmission Holdings
- BorgWarner Inc.
- Continental AG
- Daimler AG
- Delphi Automotive
- Eaton Corporation PLC
- Fiat Powertrain Technologies
- Jatco Ltd.
- Magna International Inc.
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“The Global Passenger Car Automatic Transmission Market, we can anticipate continued growth driven by several key factors. Consumer preferences for convenience and ease of driving are expected to sustain the demand for automatic transmissions, especially in urban areas. Stringent fuel efficiency and emissions regulations will push automakers to invest in advanced transmission technologies to meet these standards. The rising adoption of electric vehicles will necessitate specialized automatic transmissions, creating new opportunities in the market. Overall, the market's future looks promising as it aligns with evolving consumer needs and industry regulations,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Global Passenger Car Automatic Transmission Market, By Vehicle Type (SUV, Sedan, Hatchback, MUV), By Fuel Type (Gasoline, Diesel, and Hybrid), by Type (Automatic Transmission/Torque Converter, Automated Manual Transmission, Continuously Variable Transmission, and Dual Clutch Transmission), By Region and By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Passenger Car Automatic Transmission Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Passenger Car Automatic Transmission Market.
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Table of Content-Passenger Car Automatic Transmission Market
- Introduction
1.1. Market Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
- Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
- Executive Summary
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments
- Impact of COVID-19 on Global Passenger Car Automatic Transmission Market
- Global Passenger Car Automatic Transmission Market Outlook
5.1. Market Size & Forecast
5.1.1. By Volume & Value
5.2. Market Share & Forecast
5.2.1. By Vehicle Type (SUV, Sedan, Hatchback, MUV)
5.2.2. By Fuel Type (Gasoline, Diesel, and Hybrid)
5.2.3. By Type (Automatic Transmission/Torque Converter, Automated Manual Transmission, Continuously Variable Transmission, and Dual Clutch Transmission)
5.2.4. By Regional Market Share Analysis
5.2.4.1. Asia-Pacific Market Share Analysis
5.2.4.2. Europe & CIS Market Share Analysis
5.2.4.3. North America Market Share Analysis
5.2.4.4. South America Market Share Analysis
5.2.4.5. Middle East & Africa Market Share Analysis
5.2.5. By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2022)
5.3. Global Passenger Car Automatic Transmission Market Mapping & Opportunity Assessment
5.3.1. By Vehicle Type Market Mapping & Opportunity Assessment
5.3.2. By Fuel Type Market Mapping & Opportunity Assessment
5.3.3. By Type Market Mapping & Opportunity Assessment
5.3.4. By Regional Market Mapping & Opportunity Assessment
- Asia-Pacific Passenger Car Automatic Transmission Market Outlook
6.1. Market Size & Forecast
6.1.1. By Volume & Value
6.2. Market Share & Forecast
6.2.1. By Vehicle Type Market Share Analysis
6.2.2. By Fuel Type Market Share Analysis
6.2.3. By Type Market Share Analysis
6.2.4. By Country Market Share Analysis
6.2.4.1. China Market Share Analysis
6.2.4.2. India Market Share Analysis
6.2.4.3. Japan Market Share Analysis
6.2.4.4. Indonesia Market Share Analysis
6.2.4.5. Thailand Market Share Analysis
6.2.4.6. South Korea Market Share Analysis
6.2.4.7. Australia Market Share Analysis
6.2.4.8. Rest of Asia-Pacific Market Share Analysis