The Latest Automotive Transmission Industry Statistics Explained
In 2020, the global automotive transmission market size was valued at $150.3 billion.
The statistic that in 2020, the global automotive transmission market size was valued at $150.3 billion signifies the total revenue generated from the sales of automotive transmissions worldwide within that year. This figure reflects the substantial economic significance of the automotive transmission industry on a global scale. Factors such as technological advancements, growing demand for vehicles, and shifting consumer preferences contribute to the market’s size. Understanding the market size is crucial for industry stakeholders, policymakers, and investors to make informed decisions and strategies in response to market trends and opportunities.
The automotive transmission market is predicted to reach $304.5 billion by 2027.
The statistic stating that the automotive transmission market is predicted to reach $304.5 billion by 2027 indicates the projected total value of this market in the given year. This prediction suggests significant growth and opportunities within the automotive transmission industry over the coming years. Factors such as technological advancements, increasing demand for fuel-efficient vehicles, and expansion of the automotive sector in emerging markets could contribute to this substantial market size. Stakeholders in the automotive industry, including manufacturers, suppliers, and investors, may use this statistic to anticipate market trends, make strategic decisions, and assess the potential for growth and investment in the automotive transmission sector.
The global automotive transmission industry is expected to grow at a compound annual growth rate (CAGR) of 8.2% from 2020 to 2027.
The statistic indicates that the global automotive transmission industry is projected to experience consistent growth over the period from 2020 to 2027, with an estimated compound annual growth rate (CAGR) of 8.2%. This growth rate suggests that the industry is expected to expand steadily at a rate of 8.2% each year on average during this period. Such growth could be attributed to various factors such as technological advancements in transmission systems, increasing demand for more fuel-efficient vehicles, and the growing automotive market in emerging economies. This data provides valuable insights for businesses, policymakers, and investors looking to capitalize on the opportunities presented by the automotive transmission sector in the coming years.
Manual transmissions accounted for around 33% of the global market in 2020.
In 2020, approximately 33% of the global market share was accounted for by manual transmissions. This statistic suggests that a significant portion of vehicles sold globally that year were equipped with manual transmissions, indicating ongoing consumer preference for manual gear-shifting systems over automatic transmissions. While automatic transmissions have become more popular due to their convenience and ease of use, manual transmissions still hold a notable share of the market, appealing to drivers who enjoy the greater control and engagement offered by manual driving. Ultimately, this statistic highlights the enduring popularity and demand for manual transmissions in the automotive industry.
Automatic transmissions are expected to grow at a CAGR of 9% from 2020 to 2027.
This statistic indicates that the market for automatic transmissions is projected to expand at a compound annual growth rate (CAGR) of 9% between the years 2020 and 2027. This means that the demand and adoption of automatic transmissions are expected to steadily increase by an average of 9% each year over this period. Such growth could be driven by factors such as rising consumer preference for convenience and ease of driving, technological advancements improving the performance and efficiency of automatic transmissions, and regulatory changes pushing towards more fuel-efficient and environmentally friendly transmission options. Businesses operating in the automatic transmission industry may need to prepare for this growth by ramping up production capacity, investing in research and development for innovative products, and adapting their marketing strategies to cater to a growing market segment.
The automotive transmission market in Asia-Pacific was valued at $54 billion in 2020.
The statistic that the automotive transmission market in Asia-Pacific was valued at $54 billion in 2020 indicates the total worth of all transactions related to automotive transmissions within the region during that year. This value represents the size and importance of the automotive transmission industry in Asia-Pacific, highlighting the significant economic impact of this sector. The market value of $54 billion reflects the combined value of sales, production, and trade of automotive transmissions within the region, providing insight into the scale of the industry and its contribution to the overall economy of Asia-Pacific in the specified year.
Asia-Pacific is expected to witness the highest growth rate in the automotive transmission market during the forecast period (2020-2027).
The statistic indicates that the Asia-Pacific region is anticipated to experience the most significant increase in the automotive transmission market compared to other regions during the forecast period from 2020 to 2027. This growth could be driven by factors such as increasing demand for vehicles in emerging economies, technological advancements in transmission systems, rising disposable income, and expanding urban populations. Asia-Pacific’s strong economic growth, growing infrastructure development, and expanding automotive industry are likely to contribute to the region’s high growth rate in the automotive transmission market. Manufacturers and investors may find attractive opportunities in the Asia-Pacific region due to the favorable market conditions and promising growth prospects in the automotive transmission sector.
China was the largest market for automotive transmissions in 2020 with a share of about 25.8%.
The statistic indicates that in 2020, China comprised approximately 25.8% of the global market for automotive transmissions, making it the largest market in terms of volume. This suggests that a significant portion of automotive transmission units were bought or manufactured in China compared to other countries or regions. The statistic highlights the importance of the Chinese automotive market in driving demand and production within the automotive transmission industry, indicating a strong presence and influence in the global automotive sector.
The aftermarket segment makes up 20% of the automotive transmission market.
The statistic that the aftermarket segment makes up 20% of the automotive transmission market indicates that a significant portion of sales and transactions in the automotive transmission industry occur in the aftermarket sector. This suggests that a notable share of consumers are actively seeking replacement or upgraded transmission components outside of the traditional original equipment manufacturer (OEM) channel. The aftermarket segment may cater to various customer needs, such as repair, customization, or performance enhancements, reflecting a diverse demand within the automotive transmission market. Understanding the size and impact of the aftermarket segment is crucial for industry players to effectively target and capitalize on this market opportunity.
In 2020, the share of conventional vehicles in the automotive transmission market was about 78%.
The statistic ‘In 2020, the share of conventional vehicles in the automotive transmission market was about 78%’ indicates that the majority of vehicles using conventional transmission systems dominated the automotive market in that year. This statistic suggests that traditional vehicles with automatic or manual transmissions were prevalent compared to alternative transmission types such as electric vehicles or hybrids. The 78% share signifies a significant portion of the market being occupied by conventional vehicles, highlighting the continued dominance of traditional transmission technology in the automotive industry during 2020.
The commercial vehicle segment is projected to expand at a CAGR of 7.6% from 2020 to 2027.
This statistic indicates that the commercial vehicle segment is expected to experience significant growth between the years 2020 and 2027, with a Compound Annual Growth Rate (CAGR) of 7.6%. This means that the commercial vehicle industry is forecasted to expand at a steady rate of 7.6% annually during this period. The CAGR provides a measure of the annual growth rate over a specified timeframe, offering insight into the consistent rate at which the commercial vehicle market is expected to grow. This projection suggests that there is strong market demand and favorable conditions for commercial vehicles, resulting in anticipated expansion and opportunities within this sector over the specified time frame.
In North America, the U.S. held the largest market share of automotive transmissions in 2020.
The statistic “In North America, the U.S. held the largest market share of automotive transmissions in 2020” indicates that among all the countries in North America, the United States had the highest proportion of automotive transmissions sold in the market during the year 2020. This could imply that the U.S. either produced or imported the most automotive transmissions compared to other countries in the region, leading to a dominating market share. This statistic is significant as it highlights the strong presence and influence of the U.S. in the automotive transmission industry in North America, showcasing its competitive advantage and potentially reflecting the size and strength of its automotive manufacturing sector in the region.
About 98% of cars sold in U.S., in 2020, came with automatic transmissions.
The statistic indicates that a large majority, specifically 98%, of cars that were sold in the United States in 2020 were equipped with automatic transmissions rather than manual transmissions. This suggests that automatic transmissions are highly preferred by consumers in the American market, likely due to factors such as convenience, ease of use, and the driving habits of the population. The high percentage also reflects industry trends and advancements in automotive technology, as automatic transmissions have become increasingly prevalent and standard in modern vehicles. This statistic highlights an important shift in the automotive industry towards automatic transmissions, showcasing the preferences of consumers and the direction of the market.
European market is expected to witness a CAGR of 7.5% from 2020 to 2027 in the automotive transmission industry.
The statistic indicates that the European market for automotive transmissions is forecasted to experience a Compound Annual Growth Rate (CAGR) of 7.5% between the years 2020 and 2027. This suggests a steady and relatively strong growth trend in the European automotive transmission industry over the specified period. The CAGR metric is used to measure the annual growth rate of an investment over a specified period and smooths out the fluctuations in data to provide a more accurate representation of growth. Therefore, this forecast implies that the demand for automotive transmissions in Europe is expected to consistently expand at a rate of 7.5% per year over the seven-year period, reflecting potential opportunities for industry players and stakeholders operating within this market.
Continuous Variable Transmissions (CVT) segment is expected to see at a CAGR of 8.3% from 2020 to 2027.
The statistic stating that the Continuous Variable Transmissions (CVT) segment is expected to see a Compound Annual Growth Rate (CAGR) of 8.3% from 2020 to 2027 indicates the projected annual growth rate of this specific market segment over the specified time period. A CAGR of 8.3% suggests that the CVT market is anticipated to expand by 8.3% each year on average during this period. This growth rate is significant and indicates a positive trend in demand for CVT technology, reflecting potential opportunities for businesses operating within this market segment. The CAGR provides a useful measure to assess the rate of growth and forecast future performance in the CVT industry.
Semi-automatic transmission is expected to grow at the highest CAGR of 10% from 2020 to 2027.
This statistic indicates that the semi-automatic transmission technology is projected to experience the highest Compound Annual Growth Rate (CAGR) of 10% between the years 2020 and 2027. This implies that the adoption and usage of semi-automatic transmissions in vehicles is anticipated to increase significantly during this time period. The expected growth rate suggests a higher rate of change in market demand and consumer preference towards semi-automatic transmission systems as compared to other types of transmission technologies. Factors such as advancements in automotive technology, increasing focus on driving comfort and convenience, and potential fuel efficiency benefits may contribute to the rapid growth expected in semi-automatic transmissions in the automotive industry over the specified timeframe.
Dual clutch transmissions are forecast to experience growth at a CAGR of 9.5% from 2020 to 2027.
This statistic indicates that the market for dual clutch transmissions is expected to grow at a Compound Annual Growth Rate (CAGR) of 9.5% from 2020 to 2027. This means that on average, the market for dual clutch transmissions is projected to increase by 9.5% annually over this period. This growth rate suggests a positive trend and increasing demand for dual clutch transmissions in the automotive industry. Factors driving this growth may include technological advancements, increasing adoption of dual clutch transmissions in vehicles, and evolving consumer preferences. Overall, the forecasted CAGR of 9.5% highlights potential opportunities for manufacturers, suppliers, and other stakeholders in the dual clutch transmission market to capitalize on this growth trajectory.
The passenger vehicles segment held the largest market share, accounting for more than 74%, in 2020.
The statistic indicates that the passenger vehicles segment, consisting of cars, sedans, SUVs, and other vehicles designed for personal use, dominated the market in 2020 by holding over 74% of the total market share. This suggests that the demand for passenger vehicles was significantly higher compared to other segments such as commercial vehicles or motorcycles. The large market share of passenger vehicles indicates a strong preference among consumers for personal transportation options, possibly influenced by factors such as urbanization, lifestyle preferences, and economic conditions. This statistic highlights the importance of the passenger vehicles segment within the automotive industry and underscores the significant role it plays in driving overall market trends and dynamics.
In 2020, 4-wheel vehicles held the largest share in the automotive transmission market, accounting for more than 76%.
The statistic signifies that in 2020, among all types of vehicles, 4-wheel vehicles dominated the automotive transmission market by holding a share of over 76%. This indicates that a significant majority of vehicles equipped with automatic or manual transmissions belonged to the category of 4-wheel vehicles, such as cars, trucks, and SUVs. The high market share of 4-wheel vehicles suggests a strong demand and preference for these types of vehicles among consumers, highlighting their popularity and importance in the automotive industry.
Hybrid vehicles are anticipated to grow at a CAGR of 10.7% in the global automotive transmission market from 2020 to 2027.
This statistic indicates that the market for hybrid vehicles within the automotive transmission industry is projected to experience a Compound Annual Growth Rate (CAGR) of 10.7% from 2020 to 2027. This growth rate suggests a steady and significant increase in the adoption and demand for hybrid vehicles over the forecasted period. Factors such as rising awareness of environmental concerns, government incentives for fuel-efficient vehicles, and advancements in hybrid technology are likely to drive this growth. The forecasted CAGR of 10.7% highlights a promising trend for the hybrid vehicle segment within the global automotive transmission market, signaling opportunities for manufacturers, investors, and other stakeholders in the industry.
References
0. – https://www.www.alliedmarketresearch.com
1. – https://www.www.grandviewresearch.com
2. – https://www.www.statista.com
3. – https://www.www.caranddriver.com
4. – https://www.www.mordorintelligence.com
