“The North American transmission system market was valued at $ 27,305.8 million in 2014 and is expected to reach $ 37,149.8 million by 2019, at a CAGR of 6.4% during the period under consideration. The U.S. segment is expected to account for the largest share of 70.0% in the North American transmission systems market by 2019, in terms of volume, and is projected to grow at a CAGR of 6.9% during the given forecast period. The transmission systems market in North America is segmented into three countries, namely the U.S., Mexico, and Canada. The North American transmission system market is driven by factors such as improved fuel efficiency for conventional systems and growing demand for low carbon footprint technologies. The restraining factors are saturation of the automatic transmission systems in the North American market and the high cost of high-end transmission systems. A transmission system transmits power from the engine to the wheels to enable them to move forward.
By vehicle type, the transmission system market has been divided into passenger cars, light commercial vehicles, and heavy commercial vehicles. The North American transmission systems market recorded a volume of 18,771.2 thousand units in 2014 and is expected to reach 25,629.0 thousand units by 2019, at a CAGR of 6.4% during the given forecast period.
By transmission type, the North American transmission system market has been segmented into automatic transmission, manual transmission, automated manual transmission, and continuously variable transmission. The continuously variable transmission system segment is expected to drive the North American transmission system market, and is projected to grow at a CAGR of 14.6% during the forecast period of 2014 to 2019.
Geographically, three countries have been covered for the purpose of the market study, namely the U.S., Mexico, and Canada. The U.S. is leading the market and is expected to grow from $18,923.0 million in 2014 to $26,209.3 million by 2019, at a CAGR of 6.7%. The Mexican and Canadian segments are expected to grow at CAGRs of 5.8% and 5.1% respectively from 2014 to 2019.
The North American transmission system market is a competitive market with a number of market players with niche technologies. As of 2014, the North American market was dominated by ZF Friedrichshafen AG (Germany) and Aisin Seiki (Japan), among others. New product launches, partnerships, agreements, collaborations, and joint ventures are the major strategies adopted by most market players to achieve growth in the North American transmission system market.
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