Automotive Transmission Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Global Automotive Transmission Market Share and the market has been segmented by Transmission Type (Manual Transmission, Intelligent Manual Transmission (IMT), Automated Manual Transmission (AMT), Automatic Transmission (AT), Dual-clutch Transmission, and Others), Vehicle Type (Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles), Fuel Type (Gasoline and Diesel), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The report offers market size and forecasts for the Automotive Leaf Spring Market in value (USD Billion) for all the above segments.

Automotive Transmission Market Size

Automotive Transmission Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 6.00 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Medium

Major Players

Automotive Transmission Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Automotive Transmission Market Analysis

The Automotive Transmission Market was valued at USD 180.3 billion in 2021 and USD 257.3 billion in 2027 and is expected to register a CAGR of ~6% during the forecast period (2022 - 2027).

The COVID-19 pandemic led the majority of businesses globally to collapse in the year 2020, owing to the compulsory suspension of manufacturing and production operations, which impacted key manufacturing companies globally. This is also had a negative impact on the automotive transmission market. However, increased vehicle demand has been observed in past recent months, enabling the rise of the automotive transmission market after the outbreak of COVID-19.

Rapid technical improvements in automobile transmission production, as well as customers' rising preference for a pleasant driving experience, will boost demand for the automotive transmission market throughout the projected period. Furthermore, lightweight transmission systems lower the weight of the vehicle in proportion, ensuring that it meets severe pollution and fuel efficiency standards. The widespread adoption of AMT, with the increasing popularity of autonomous vehicles. This tendency has been helped by improved fuel economy, increasing traffic circumstances, and the progressive elimination of myths regarding automated vehicles. The automatic transmission provides easy and smooth gear changes, and lower fuel consumption adds to driving comfort.

Raw material price variations might make the market less competitive. Weight-reducing alloys and lightweight materials are costly, but they are important in the development of efficient and lightweight transmissions. One of the primary constraints for manufacturers is the high cost of raw materials, which leads to the high cost of transmission systems. This is primarily due to consumers' preference for cost-effectiveness vehicle above performance majorly in the emerging regions.

Asia-Pacific is expected to dominate worldwide automotive transmission industry owing to increased production of passenger cars and light commercial vehicles in the region's growing economies, . Many OEMs are willing to establish manufacturing facilities in this region, particularly in rising markets like as China and India. During the projection period, North America is predicted to be the second biggest market.

Automotive Transmission Market Trends

This section covers the major market trends shaping the Automotive Transmission Market according to our research experts:

Automatic Transmission Segment is Expected to Hold Major Share in the Market

Automated transmission technologies is an upgraded form of manual transmission that eliminates the need to contact the clutch pedal while shifting gears. Additionally, the increasing need for fuel-efficient transmission systems, as well as the elimination of the driver's behavioral effect on the vehicle, is driving the demand for automated manual transmissions (AMTs) and automatic transmissions (ATs). The growing move from mechanical to automated driving systems presents a significant opportunity for the market expansion of new transmission technologies. The ease of the AMT over the manual transmission is crucial since using the clutch is not part of the diver's work, which lowers fatigue. AMT is more fuel-efficient than automatic transmission, allowing more energy to travel to the wheels.

  • In February 2021, ZF announced a USD 200 million investment in commercial vehicle gearbox manufacturing in North America. Beginning in 2023, ZF will manufacture the ZF Powerline 8-speed automatic transmission in Gray Court, SC, at the company's cutting-edge manufacturing plant. ZF also obtained a roughly USD 6 billion axle contract in July 2021 for the Marysville, Michigan factory to provide beam axles and axle drives for pick-up trucks until 2027.
Automotive Transmission Market Report

Asia-Pacific is Expected to Witness the Fastest Growth Rate

The Asia-Pacific region is expected to lead the automotive transmission market, with China playing a significant role in the industry's growth. Asia-Pacific is the largest market for automotive equipment. With rising vehicle production in countries like India and China, as well as manufacturers' emphasis on improving production capacity, demand for automotive gear is expected to rise dramatically in the coming years. 

Rising car demand entails increased emissions from the transportation sector. As a result, players in the automobile sector are working on optimizing vehicle performance to reduce emissions and provide sustainable mobility. The primary emphasis is on improving fuel economy and lowering emissions.

Automotive Transmission Market Analysis

Automotive Transmission Industry Overview

The existence of multiple global companies led the automobile transmission market to be moderately consolidated. While some of the market's top players compete on the basis of product offering, other firms are collaborating, product launching, and partnering throughout the globe. For instance,

  • In October 2021, Stellantis will invest $229 million to design and manufacture a new 8-speed gearbox that will ultimately power electric Jeep, Ram, Dodge, and Chrysler vehicles. The funds will be used to update and rebuild three of its Indiana sites in order to manufacture the new transmission. The announcement is the first stage in the company's anticipated $35 billion global investment in electrification by 2025. Stellantis has stated that by 2030, it hopes to have low-emission cars account for more than 70% of its sales in Europe and 40% of its sales in the United States.
  • In June 2021, JATCO developed a new continuously variable transmission "CVT-X" for medium and large FWD vehicles, with increased environmental performance and drivability. It is believed to have achieved transmission efficiency of greater than 90%, which was considered impossible for a CVT.

Some major players dominating the market include ZF Friedrichshafen AG, Aisin Corporation, Jatco Ltd. , Schaeffler AG and Magna International Inc.

Automotive Transmission Market Leaders

  1. ZF Friedrichshafen AG

  2. Aisin Corporation

  3. Hyundai Transys Co., Ltd.

  4. JATCO Ltd

  5. Musashi Seimitsu Industry Co., Ltd.

*Disclaimer: Major Players sorted in no particular order

ZF Friedrichshafen AG, Aisin Corporation, Hyundai Transys Co., Ltd., JATCO Ltd, Musashi Seimitsu Industry Co., Ltd.
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Automotive Transmission Market News

  • In April 2022, Allison Transmission announced the completion of its acquisition of India-based AVTEC's off-highway transmission business and the off-highway component machining business of the Madras Export Processing Zone (MEPZ). Allison's product range will be positioned for strategic expansion in the off-highway category in India and other worldwide markets that need purpose-built products that give better performance, durability, dependability, and productivity.
  • In March 2021, Magna revealed its all-new linked plug-in hybrid electric vehicle (PHEV) transmission as well as next-generation battery electric vehicle (BEV) drive systems. Both technologies were fully operational at the company's Winter Test driving facility in northern Sweden. The combination of these characteristics, as well as its specifically tuned operational software and controls, and its all-new dedicated hybrid gearbox, allows for considerable CO2 savings.
  • In February 2021, Volvo Cars and Geely Auto have committed to a broad partnership that will leverage the Swedish and Chinese automotive manufacturers' capabilities, generating opportunities in engines and transmissions, sharing of electric vehicle architecture, collaborative procurement, autonomous driving technology, and aftersales. Powertrain activities will be amalgamated into a new company that will focus on next-generation hybrid systems and internal combustion engines.
  • In February 2021, Eaton's Vehicle Group, a power management firm, is creating gearing solutions for electrified vehicles (EVs). The Vehicle Group intends to be a leader in the design, development, and delivery of EV reduction gearing by using its expertise in creating transmissions and contract-produced gear sets for passenger and commercial vehicles. In the electrified vehicle powertrain industry, the new technology complements Eaton's eMobility power electronics offering.

Automotive Transmission Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porters 5 Force Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry


    1. 5.1 Transmission Type

      1. 5.1.1 Manual Transmission

      2. 5.1.2 Intelligent Manual Transmission (IMT)

      3. 5.1.3 Automated Manual Transmission (AMT)

      4. 5.1.4 Automatic Transmission (AT)

      5. 5.1.5 Dual-clutch Transmission

      6. 5.1.6 Other

    2. 5.2 Vehicle Type

      1. 5.2.1 Passenger Cars

      2. 5.2.2 Light Commercial Vehicles

      3. 5.2.3 Heavy Commercial Vehicles

    3. 5.3 Fuel type

      1. 5.3.1 Gasoline

      2. 5.3.2 Diesel

    4. 5.4 Geography

      1. 5.4.1 North America

        1. United States

        2. Canada

        3. Rest of North America

      2. 5.4.2 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Italy

        5. Spain

        6. Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. India

        2. China

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      4. 5.4.4 Rest of World

        1. South America

        2. Middle-East and Africa


    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles*

      1. 6.2.1 ZF Friedrichshafen AG

      2. 6.2.2 Aisin Corporation

      3. 6.2.3 JATCO

      4. 6.2.4 Hyundai Transys Inc.

      5. 6.2.5 Musashi Seimitsu Industry Co., Ltd.

      6. 6.2.6 Magna International Inc.

      7. 6.2.7 Allison Transmission, Inc.

      8. 6.2.8 Schaeffler Group

      9. 6.2.9 Eaton Corporation PLC

      10. 6.2.10 BorgWarner Inc.


**Subject to Availability
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Automotive Transmission Industry Segmentation

It is a multi-speed gearbox used in vehicles where the driver does not need to change forward gears under typical driving conditions. A planetary gearset, hydraulic controls, and torque converter are included. The engine is linked to a torque converter, which is linked to a gear system, which is ultimately linked to the gearbox. Some sections of the torque converter interact with one another. The flywheel, which rotates the whole device, is housed in the outermost section.

The automotive transmission market is segmented by transmission type, vehicle type, fuel type, and geography. 

The Automotive Transmission Market is segmented by By Transmission Type, the market is segmented into Manual Transmission, Intelligent Manual Transmission (IMT), Automated Manual Transmission (AMT), Automatic Transmission (AT), Dual-clutch Transmission, and Others. By Vehicle Type, the market is segmented into Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles. By fuel type, the market is segmented into Gasoline and Diesel. By Geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. For each segment, market sizing and forecast have been done on basis of value (USD billion).

Transmission Type
Manual Transmission
Intelligent Manual Transmission (IMT)
Automated Manual Transmission (AMT)
Automatic Transmission (AT)
Dual-clutch Transmission
Vehicle Type
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
Fuel type
North America
United States
Rest of North America
United Kingdom
Rest of Europe
South Korea
Rest of Asia-Pacific
Rest of World
South America
Middle-East and Africa
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Automotive Transmission Market Research FAQs

The Automotive Transmission Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

ZF Friedrichshafen AG, Aisin Corporation, Hyundai Transys Co., Ltd., JATCO Ltd and Musashi Seimitsu Industry Co., Ltd. are the major companies operating in the Automotive Transmission Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia-Pacific accounts for the largest market share in Automotive Transmission Market.

The report covers the Automotive Transmission Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Automotive Transmission Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Automotive Transmission Industry Report

Statistics for the 2024 Automotive Transmission market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Automotive Transmission analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Automotive Transmission Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)