The global automotive gears market size was valued at $40.31 billion in 2020, and is projected to reach $61.17 billion by 2026, growing at a CAGR of 7.2% during the forecast period.
• Improved product durability and fuel efficiency of the vehicle and growth in passenger as well as production of vehicles are augmenting the popularity of automotive gears.
• Additionally, the demand for passenger cars and light commercial vehicles is on the rise, much of which can be attributed to the rise in per capita income and standard of living in fast-growing economies such as China and India. These economies are also the major markets for the automotive industry because of their rapid urbanization and growing consumer base.
• However, the major restraint for the market is growing demand for electric vehicles, due to rising emission regulations. The overall number of gears used is significantly less, due to fewer transmission systems, lesser use of differentials, and near elimination of gearboxes.
A gear is a component of a spinning machine that has cogs or cut teeth that can mesh with another toothed component. The torque, speed, and direction of the power supply can all be changed with geared devices. These systems gain a mechanical advantage by changing the gear ratio, which results in a torque change. An automotive gear is a spinning device with teeth that transmits torque by meshing with another toothed machine part or gear. Gears are a key component in an automobile system since they may change the torque, speed, and direction of the power source. From manual gear shift prototypes to automatic gear transmission systems in today's vehicles, the automotive gears business has progressed.
By Application, the Differential Systems Segment Emerges as the Dominant Segment
The differential systems segment made huge revenue in 2020 and growing its prominence during the forecast period. Spiral bevel gears, planetary gears, worm gears, and hypoid gears are all included in the differential gears category. The differential is an essential component of all four-wheeled vehicles. The differential gear's primary function is to allow the drive wheels to rotate at various RPMs while receiving power from the engine. A differential system also serves to lower speed at the pinion-ring gear assembly, in addition to letting the wheels to revolve at various RPMs.
By Geography, Asia Pacific Region is Projected to Strong Presence in the Global Market
Asia-Pacific dominated the automotive gears market, with China being a key contributor to the growth of the market studied. Asia-Pacific is the world's largest market for automotive equipment. The need for automotive gear is expected to expand significantly in the future, owing to rising vehicle production in countries like India and China, as well as manufacturers' focus on improving production capacity. The demand for personal transportation and commercial vehicles has increased in emerging countries due to low automobile penetration and infrastructure development. Additionally, the market is being driven by two factors: the growing need for fuel-efficient automobiles and lightweight automotive parts.
List of the Key Players Profiled in the Market Include:
• Bharat Gears Ltd
• GKN PLC
• American Axle & Manufacturing Holdings Inc
• AmTech International
• Brevini Power Transmission Spa
• E. I. du Pont de Nemours and Company
• Gleason Plastic Gears
• IMS Gear GmbH
• Robert Bosch GmbH
• RSB Transmissions Ltd
• Showa Corporation
• TRW Automotive
• Univance Corporation
• Universal Auto Gears LLP
• ZF Friedrichshafen AG
What Can be Explored with this Research Report:
• Understand the key trends that will drive the market, challenges it faces in the current market scenario.
• Identify growth opportunities.
• Porter’s five force analysis.
• In-depth analysis of market segments, and regions/countries predicted to observed promising growth.
• Historical and forecast size of the market in terms of revenue (USD Million).
• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted.
Market Segmentation:
The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:
Market by, Product Type:
• Bevel Gear
• Helical Gear
• Hypoid Gear
• Intersecting Shaft Gears
• Parallel Shaft Gears
• Pinion Gear
• Planetary Gears
• Rack Gear
• Skew Shaft Gears
• Spur Gear
• Worm Gear
Market by, Material:
• Ferrous Metals
• Non-ferrous Metals
• Other Materials
Market by, Application:
• Steering Systems
• Transmission Systems
• Differential Systems
Market by, Geography:
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa
Table Of Content
1 Market Overview
1.1 Introduction
1.2 Research Objectives
1.3 Market Segmentation
1.4 Stakeholders
1.5 List of Acronyms
2 Executive Summary
3 Research Methodology
3.1 Identification of Data
3.2 Evaluation of Market Dynamics
3.3 Collaboration of Data
3.4 Verification and Analysis
3.5 Data Sources
3.6 Assumptions
4 Market Dynamics
4.1 Market Drivers
4.1.1 Enhanced driving experience in terms of smooth gear shifting & improved acceleration
4.1.2 Increasing demand for low carbon footprint technologies
4.1.3 Rising vehicle production
4.2 Market Restraints
4.2.1 High cost of high-end gear systems
4.3 Market Opportunities
4.3.1 Increasing demand for the automatic transmission in vehicles
4.4 Market Challenges
4.4.1 Complex mechanical systems with high maintenance cost
4.5 Impact of COVID-19 on Automotive Gears Market
5 Porter's Five Force Analysis
5.1 Bargaining Power of Suppliers
5.2 Bargaining Power of Buyers
5.3 Threat of New Entrants
5.4 Threat of Substitutes
5.5 Competitive Rivalry in the Market
6 Global Automotive Gears Market by, Product Type
6.1 Overview
6.2 Bevel Gear
6.3 Helical Gear
6.4 Hypoid Gear
6.5 Intersecting Shaft Gears
6.6 Parallel Shaft Gears
6.7 Pinion Gear
6.8 Planetary Gears
6.9 Rack Gear
6.10 Skew Shaft Gears
6.11 Spur Gear
6.12 Worm Gear
7 Global Automotive Gears Market by, Material
7.1 Overview
7.2 Ferrous Metals
7.3 Non-ferrous Metals
7.4 Other Materials
7.4.1 Composites
7.4.2 Plastics
8 Global Automotive Gears Market by, Application
8.1 Overview
8.2 Steering Systems
8.3 Transmission Systems
8.3.1 Manual
8.3.2 Automatic
8.4 Differential Systems
9 Global Automotive Gears Market by, Geography
9.1 Overview
9.2 North America
9.3 Europe
9.4 Asia Pacific
9.5 South America
9.6 Middle East & Africa
10 Key Developments
11 Company Profiling
11.1 Bharat Gears Ltd
11.1.1 Business Overview
11.1.2 Product/Service Offering
11.1.3 Financial Overview
11.1.4 SWOT Analysis
11.1.5 Key Activities
11.2 GKN PLC
11.3 American Axle & Manufacturing Holdings Inc
11.4 AmTech International
11.5 Brevini Power Transmission Spa
11.6 E. I. du Pont de Nemours and Company
11.7 Gleason Plastic Gears
11.8 IMS Gear GmbH
11.9 Robert Bosch GmbH
11.10 RSB Transmissions Ltd
11.11 Showa Corporation
11.12 TRW Automotive
11.13 Univance Corporation
11.14 Universal Auto Gears LLP
11.15 ZF Friedrichshafen AG
Report Details
| SKU Code | : DI2055 |
| Industry | : Automotive & Transportation |
| Region | : Global |
| Tables | : 180 |
| Format | : Electronic PDF |
| Published | : 2023 |
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