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Automotive Gears Market
Advancements in transmission technologies, which have improved fuel efficiency and lower emissions, are driving the demand for automotive gears.
NEW YORK CITY, NY, UNITED STATES, December 23, 2024 /EINPresswire / -- PESTEL analysis has been used in the research report to help organizations understand and respond to external factors that may impact their business.
The
market for automotive gears is projected to grow, according to the latest study by Polaris Market Research. The automotive gears market size was valued at USD 42.04 billion in 2024 and is projected to grow to USD 57.39 billion by 2034. It is anticipated to exhibit a CAGR of 3.2% from 2025 to 2034.
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What Are Automotive Gears?
Automotive gears are machine components that function to transmit rotation or movement from one component to another. There are many different types of gear, each with a specific function. Planetary gears, bevel gears, hypoid gears, worm gears, spur gears, and pinion gears are some commonly used gears in automobiles. To cater to the diverse needs of automobiles, manufacturers provide gears with different sizes, ridges, and numbers of teeth. The size, number of teeth, and ridges are the key factors that determine the torque generated by the automotive gear.
What Are Key Report Highlights?
.The market for automotive gears is poised to reach USD 57.39 billion by 2034, exhibiting a CAGR of 3.2% from 2025 to 2034.
.The shift towards electric vehicles (EVs) is driving the demand for more efficient, quiet, and lightweight gear systems.
.The market for automotive gears is primarily segmented on the basis of application type, vehicle type, material type, gear type, and region.
.Based on material type, the metallic segment dominated the market in 2024 as they offer superior strength and reliability.
.The automotive gears market report offers a thorough market assessment of all the major regions, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Who Manufacturers Automotive Gears?
The automotive gears market has the presence of a diverse array of regional and global players. These market participants leverage their broad distribution networks and extensive R&D capabilities to provide a wide range of advanced automotive gear products.
A few of the market key players are:
.American Axle and Manufacturing Holdings Inc.
.Bharat Gears Ltd.
.Suzuki
.Robert Bosch GmbH
.Hitachi Astemo
.IMS Gear
.Univance Corporation
.Eaton
.Cummins Inc
.RSB Global
.Schaeffler India
.Toyota
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What's Driving Market Forward?
Technological Advancements: Automotive gear manufacturers are leveraging technological advancements in transmission systems to enhance fuel efficiency and reduce emissions. These advancements are driving the demand for high-performance gears, impacting the automotive gears market expansion favorably.
Regulatory Initiatives: Governments worldwide are focusing on the imposition of stringent fuel efficiency and emission regulations. These regulations are forcing automotive automakers to develop advanced gear technologies.
Shift Towards EVs: The shift towards EVs is driving the need for more efficient and lightweight gear systems, as EVs necessitate specific gear combinations to handle the high torque requirements without compromising on efficiency.
Which Region Leads Market Demand?
Asia Pacific: Asia Pacific accounted for the largest automotive gears market share in 2024. The regional market growth is primarily fueled by the booming automotive production and sales, which has increased the demand for various automotive components, including gears. Also, the strong presence of EV manufacturers contributes to the increased adoption of automotive gears in the region.
North America: North America is projected to register the fastest CAGR from 2025 to 2034. The increased focus on technological innovations in automotive R&D has led to advancements in gear technology, impacting the market development favorably. In addition, the presence of government initiatives promoting fuel efficiency further boosts regional growth in the automotive gears market.
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How Is Market Segmentation Done?
By Application Type Outlook:
.Transmission System
oAutomatic Transmission
oAutomated Manual Transmission
oManual Transmission
oDual-Clutch Transmission
.Differential System
.Steering System
.Other Automotive Applications
By Vehicle Type Outlook:
.Passenger Car
.Light Commercial Vehicle
.Heavy Commercial Vehicle
By Material Type Outlook:
.Metallic
.Non-Metallic
By Gear Type Outlook:
.Planetary Gears
.Bevel Gears
.Rack and Pinion Gears
.Hypoid Gears
.Worm Gears
.Helical Gears
.Spur Gears
.Pinion Gears
By Regional Outlook:
.North America
oUS
oCanada
.Europe
oGermany
oFrance
oUK
oItaly
oSpain
oNetherlands
oRussia
oRest of Europe
.Asia Pacific
oChina
oJapan
oIndia
oMalaysia
oSouth Korea
oIndonesia
oAustralia
oVietnam
oRest of Asia Pacific
.Middle East & Africa
oSaudi Arabia
oUAE
oIsrael
oSouth Africa
oRest of Middle East & Africa
.Latin America
oMexico
oBrazil
oArgentina
oRest of Latin America
FAQs:
What is the growth rate of the automotive gears market value?
The global market is projected to register a CAGR of 3.2% from 2025 to 2034.
Which region held the largest share of the automotive gears market in 2024?
Asia Pacific accounted for the largest market share in 2024.
Which segment, by gear type, led the market in 2024?
In 2024, the bevel gears segment dominated the market.
Which segment, by material type, held the largest share of the market in 2024?
The metallic segment dominated the market in 2024.
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
Likhil G
Polaris Market Research and Consulting
+1 929-297-9727
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