Automotive Gears Market Worth $50.8 Billion By 2030 Marketsandmarkets

(MENAFN- PR Newswire) Asia Pacific is estimated to be the largest global automotive gear market during the forecast period. The market dominance of Asia Pacific can be attributed to the higher production of passenger and commercial vehicles. The region dominates Economy class vehicles installed with rack & pinion gears for the steering system and helical and spur gears for 5-speed manual transmission. Further, regional countries have noticed a shift towards mid-price range vehicles provided with 6-speed manual & 7-9-speed automatic transmission or DCT. This will enable the growth of planetary and helical gears for transmission systems. In addition, strong demand for DCT has been noticed in China, India, and Japan, accelerating the SUV market growth. Rising sales of mid & full-size SUVs with AWD/4WD configurations in countries such as China and India drive the demand for differential gears. With the growing demand for premium vehicles with advanced safety & convenient features, like automated tailgates, electric sunroofs, and ORVMs, the demand for non-metallic gear is also expected to rise. Together, these factors will drive the Asia Pacific market for automotive gears.

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Automotive Gears Market Dynamics:

Drivers:

1.
Rising production of passenger cars and light commercial vehicles.

Restraints:

1.
Rising popularity of electric vehicles

Opportunities:

1.
Increasing adoption of plastic/polymer gears in automotive applications

Challenge:

1.
High costs of advanced and lightweight gears

Key Market Players Automotive Gears Industry :

Prominent players in the Automotive Gears Market include as American Axle & Manufacturing Holding, Inc. (US), GKN Powder Metallurgy (US), Bharat Gears Ltd. (India), JTEKT Corporation (Japan), and Robert Bosch GmbH (Germany).

The break-down of primary participants is as mentioned below:

• By Company Type: Tier 1 – 50%, Tier 2 – 30%, OEMs -20%
• By Designation: C level Executives - 60%, Director Level - 30%, Others – 10%
• By Region: North America - 25%, Europe - 20%, Asia Pacific - 55%

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Automotive Gears Industry Recent Developments:

• In May 2023, AAM invested USD 10 million in the Global Strategic Mobility Fund, a venture capital fund by EnerTech Capital. Due to this investment, AAM has access to Enertech's vast network of mobility businesses, which will help enhance AAM's products.
• In April 2023, Dowlais Group announced the demerger of GKN Automotive, GKN Powder Metallurgy, and GKN hydrogen business from Melrose Industries plc into Dowlais Group Plc. Dowlais Group plc acquired the above three companies from Melrose Industries Plc in this demerger.
• In August 2022, in response to the growth of electric vehicles, JTEKT developed JTEKT Ultra Compact Diff., a differential for Electric vehicles eAxle. The differential is small in size and is highly durable. The new differential features high torque density and durability. Despite the compact, the differential strength is the same for JUCD (JTEKT Ultra Compact Differential).

Automotive Gears Market Size - Key Benefits of Buying the Report:

• This report offers comprehensive analyses of market share and supply chains and detailed information on gear manufacturers.
• It is designed to help market leaders and new entrants by providing precise revenue estimates for the overall automotive gears market.
• Additionally, the report helps stakeholders understand the market dynamics, highlighting key drivers, restraints, challenges, and opportunities.

This report provides insights on:

• Analysis of key drivers (rise in production of vehicles to drive the growth of the automotive gears market, including the rise in several passenger cars and light commercial vehicles, rise in the number of mid-range and luxury vehicles, rise in the number of SUVs and heavy commercial vehicles and buses and coaches and growing demand for low-carbon-footprint technologies), restraints (increasing popularity of electric cars), opportunities (adoption of lightweight gear materials, growth in number of hybrid vehicles and rising adoption of polymer/plastic gears in automotive applications), and challenges (high costs of advanced and light-weight gears) are fueling the demand of the automotive gears market.
• The report provides a detailed country analysis of the type of gears used in transmission types (automatic transmission, automated manual transmission, manual transmission, and dual-clutch transmission) and differential types (open differential, locking differential, limited slip differential, torque vectoring differential, and Torsen differential)
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the automotive gears market, such as using various materials to manufacture the gears, such as metallic and non-metallic gears.
• Market Development: Comprehensive information about lucrative markets – the report analyses the automotive gears market across varied regions.
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the automotive gears market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players in the automotive gears market, such as American Axle & Manufacturing Holding, Inc. (US), GKN Powder Metallurgy (US), Bharat Gears Ltd. (India), JTEKT Corporation (Japan), and Robert Bosch GmbH (Germany).

Related Reports:

Automotive Steering System Market - Global Forecast to 2027

Automotive Differential Market - Global Forecast to 2027

Automotive Transmission Market - Global Forecast to 2028

Electric Powertrain Market - Global Forecast to 2030

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