Global Automotive Automatic Transmission Market Analysis 2024: Trends, Growth, And Forecasts

The Business Research Company's Automotive Automatic Transmission Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, July 18, 2024 /EINPresswire.com/ -- The automotive automatic transmission market has demonstrated robust growth in recent years, with projections showing continued expansion. Starting from $62.55 billion in 2023, the market is set to reach $67.44 billion in 2024, growing at a compound annual growth rate (CAGR) of 7.8%. This growth is attributed to factors such as increased integration of hybrid and plug-in hybrid systems, rising demand for automatic transmission vehicles, and the global automotive industry's expansion focusing on fuel efficiency and emission reduction.

Rising Shift towards Electric Vehicles Drives Market Growth
The automotive automatic transmission market is poised for substantial growth, expected to achieve $91.48 billion by 2028, with a CAGR of 7.9%. This growth phase will be driven by the increasing adoption of electric vehicles equipped with automatic transmissions. Factors contributing to this trend include the integration of advanced driver-assistance systems (ADAS) in transmissions, stringent emission standards globally, and the expansion of ride-sharing and autonomous vehicle fleets. Innovations in materials and manufacturing processes aimed at lighter and more efficient transmissions are also significant contributors to this growth.

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Key Players and Market Trends
Major companies such as Ford Motor Company, General Motors, and Continental AG are focusing on developing innovative transmission systems to enhance efficiency and performance. For instance, Ford Motor Company has been at the forefront with advancements like intelligent clutch heat mapping algorithms, which optimize clutch operation and improve overall transmission performance.

In a notable development, ZF Friedrichshafen AG launched the EcoTronic Mid Automated Manual Transmission (AMT) system in July 2022. This system, designed for commercial vehicles, features a 'rock-free' mode for smoother driving on challenging terrains, thereby increasing clutch and gearbox lifespan and reducing vehicle downtime.

Major Trends and Innovations
The market is witnessing a shift towards dual-clutch and continuously variable transmissions, driven by technological advancements and consumer demand for enhanced driving experiences. Innovations such as predictive maintenance solutions for transmissions and connectivity within transmission systems are gaining traction. Additionally, subscription-based transmission services and upgrades are emerging trends that cater to evolving consumer preferences.

Segments
• Type: Automatic Transmission, Automated Manual Transmission, Dual Clutch Transmission, Continuously Variable Transmission
• Fuel Type: Gasoline, Diesel, Hybrid
• Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles

Geographical Insights: Asia-Pacific Leading Growth
North America emerged as the largest region in the automotive automatic transmission market in 2023. However, Asia-Pacific is expected to witness the fastest growth during the forecast period, driven by increasing automotive production and adoption of electric vehicles in countries like China, Japan, and India.

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Automotive Automatic Transmission Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Automotive Automatic Transmission Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on automotive automatic transmission market size, automotive automatic transmission market drivers and trends, automotive automatic transmission market major players, competitors' revenues, market positioning, and market growth across geographies. The automotive automatic transmission market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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