Global Automotive Gears Market is Projected to Reach 38.27 Billion by 2020

Date: 2016-09-18

The global automotive gears market is projected to grow at a CAGR of 6.1% from 2015 to 2020. The market is estimated to be USD 28.47 billion in 2015 and is projected to reach 38.27 billion by 2020. The growth of this market is fueled by the rising vehicle production and increasing installation of mechanical components in cars.

“Enhanced driving experience in terms of smooth gear shifting & improved acceleration to drive the automotive gears market”

Asia-Pacific is estimated to be the largest market for automotive gears. The Asia-Pacific automotive gears market, in terms of value, is projected to grow at the highest CAGR from 2015 to 2020. This can be mainly attributed to the rising vehicle production and the increasing installation of mechanical parts in passenger cars and light commercial vehicles. The differential system application segment is estimated to account for the largest market share in 2015. However, the transmission system segment is projected to grow at the highest CAGR during the forecast period.

“Growing demand for low-carbon-footprint technologies to drive the automotive gears market”

Improved gear systems allow the vehicle engine to run at an optimum level, thereby reducing engine losses that may result from friction and lubrication. This lowers the emission levels of the vehicle. Automatic gear systems reduce emission levels by 20%; thus, vehicles equipped with these systems contribute to a cleaner environment. The growing demand for eco-friendly vehicles from consumers has led to the increased adoption of these gear systems, which reduce carbon emissions throughout the vehicle’s life cycle.

GKN plc is a global engineering company that specializes in the design, manufacture, and servicing of systems and components for original equipment manufacturers (OEMs). GKN conducts operations through four divisions: driveline, aerospace, land systems, and powder metallurgy.

Showa Corporation manufactures and sells automotive products in Japan and internationally. The company operates in four business segments—namely, automotive components, steering system components, motorcycle & hydraulic components, and gas springs. It offers hypoid gear and transfer gear sets under its steering systems components segment. Other major players in the automotive gears market are Bharat Gears (India), AAM (U.S.), ZF TRW (U.S.), and Univance Corporation (Japan).

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Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 001-510-400-8520

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