Market Size of Automotive Transmission Repair Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Transmission Repair Market Analysis
The Automotive Transmission Repair Market is projected to grow with a CAGR of more than 4 % during the forecast period.
- With the advancement in technology and enhanced material quality, the life and quality of spare parts has increased the life of vehicles both commercial and passenger vehicles. Also, there is a growth in demand for used vehicles and increasing average vehicle miles traveled every year. For instance, in March 2018, Government of India decided to increase the life of commercial vehicles to 20 years which was 15 years previously.
- The sales of used cars in United States grew with a CAGR of more than 2.2% and outperformed the sales of new cars during the period of 2014-18. In United Kingdom during the same period, the sales of used cars increased with a rate of 1.36%. In India where the auto sector is going through tuff times, the used car market is blooming with a double-digit growth rate.
- However, the presence of several local and small-scale manufacturers is hindering the growth in the market as it is an obstacle for standardization and research & development in the market.
