Market Size of Automotive Automatic Transmission Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 7.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Automatic Transmission Market Analysis
The automotive automatic transmission market studied was valued at USD 101.65 billion in 2021. It is expected to reach a value of USD 155.15 billion by 2027 while registering a CAGR of 7% during the forecast period.
With the COVID-19 pandemic affecting the automotive industry, the Transmission Market saw a dip in market share due to low or almost zero automotive sales or new requirements. Although the United States has around 90% of the vehicles running with automatic transmission, mileage-sensitive and huge-scale markets like India are yet to gradually transform into automatic transmission systems. The growing trend towards opting the automatic transmission by drivers worldwide is set to help the industry service the pandemic and come out with good numbers post Covid-19.
The automotive transmission system has many advantages, apart from performing the simple purpose of transferring an engine's power to the wheels. The demand for automotive automatic transmission vehicles has been growing over the past three years, especially in developing countries, such as India and China, due to heavy traffic, congestion, and overcrowded streets.
The major types of automatic transmission systems used in the vehicles are automated manual, continuously variable transmission, and dual-clutch transmission, among others.
According to General Motors, with the growing environmental concerns and strict fuel economy norms, the available manual transmission system cars may decline, in turn, resulting in the rise in demand for automatic transmission systems. Governments in the region are also trying to promote the sales of alternative fuel vehicles through incentives and tax deductions, and fuel-efficient vehicles, which is expected to propel the demand for automotive automatic transmission in the region.
