April 22, 2022 08:30 ET | Source: Transparency Market Research Transparency Market Research
Albany, New York, UNITED STATES
ALBANY, N.Y., April 22, 2022 (GLOBE NEWSWIRE) -- The automotive transmission market is projected to expand at a CAGR of 2.71% during the forecast period, from 2021 to 2031. The exponential rise in sales of passenger vehicles, light duty vehicles, two/three wheelers, medium & heavy duty trucks, and buses propels the automotive transmission market. Factors such as expanding population, globalization, and rapid urbanization leading to the growth of the transportation sector is creating ample opportunities in the automotive transmission market.
Monumental growth of the supply chain and logistics sector that heavily depend on heavy commercial vehicles, such as trucks and trailers, is creating ample opportunities in the automotive transmission market. Heavy commercial vehicles, such as trailers and trucks, require high power to operate the wheels, wherein the torque generated by the engine is transferred to the power train and wheels with the help of transmission system.
Furthermore, regulations to control carbon emission and pollution that significantly depends on efficient transmission system to reduce fuel consumption stimulate the growth of the automotive transmission market.
Asia Pacific is anticipated to emerge as a significant region in the automotive transmission market over the forecast period. Factors such as population explosion, significant rise in economic prosperity, and growth of the transportation sector stir the growth of the automotive transmission market of the region.
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Automotive Transmission Market – Key Findings of Report
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Automotive Transmission Market – Growth Drivers
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Automotive Transmission Market – Key Players
Some of the key players operating in the automotive transmission market are;
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The automotive transmission market is segmented as follows;
Automotive Transmission Market, by Transmission Type
Automotive Transmission Market, by Vehicle Type
Automotive Transmission Market, by Region
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