Introduction:
Global automotive sector is growing with decent pace after the 2008-09 recession period, and demand for automobiles in Asia Pacific region is strongest due to its rapid urbanization rate and increase in disposable income. Furthermore, due to increasing traffic in major urban areas, consumers are leaning more towards advanced transmission system such as automatic transmission (AT), continuous variable transmission (CVT), and dual clutch transmission (DCT) for smooth driving experience.
Transmission system provides smooth and comfortable drive by transmitting the optimal power from engine to wheels through gear box. Now a day’s most of low range and mid-range cars comes with semi-automatic and automatic transmission system. In automatic transmission system, depending upon the electronic system used in the transmission and design of transmission system, transmission system can significantly influence the maneuverability and fuel efficiency of vehicle.
Global Automotive Transmission Market Dynamics:
Global Automotive Transmission Market is basically driven by global automotive production and sales. Rising demand for low range and mid-range automobile in Asia Pacific and Latin America region are fueling the growth of global automotive transmission market. Asia Pacific is thriving market for low and mid-range passenger cars and is anticipated to grow with brisk rate in forecast period of 2016-2026, which will further propel the global automotive transmission market. Rise in demand for high end cars in North America and Europe is fueling the market for advanced transmission system such as automatic transmission (AT), continuous variable transmission (CVT), and dual clutch transmission (DCT). Large adoption rate of semi-automatic transmission system and automatic transmission system in commercial vehicle is key driving factor for the growth of global automotive transmission market.
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