Automotive Gears Market – Global Forecast to 2030
The global automotive gears market is expected to grow from USD 42.7 billion in 2024 to 50.8 billion in 2030, it is projected to grow at a CAGR of 3.0% in the projected period. According to OICA, global vehicle production increased from 84.8 million units in 2020 to 93.5 million in 2023.
世界の自動車用ギア市場は、2024 年の 427 億米ドルから 2030 年には 508 億米ドルに成長すると予想されており、予測期間中に 3.0% の CAGR で成長すると予測されています。 OICAによると、世界の自動車生産台数は2020年の8,480万台から2023年には9,350万台に増加した。
Each vehicle uses gears in transmission systems, differentials, steering systems, and other applications; hence, with the rise in vehicle production, the market for metallic automotive gears will grow in the coming years.
The report provides insights on the following pointers:
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).