Global Automotive Gears Market: Industry Analysis and Forecast 2020 -2026A Story by pp Global Automotive Gears Market is anticipated to reach US$ 54.89 Bn by 2026 from US$ 38.26 Bn in 2020 at a CAGR of 6.2% during a forecast period. Global Automotive Gears Market is anticipated to reach US$ 54.89 Bn by 2026 from US$ 38.26 Bn in 2020 at a CAGR of 6.2% during a forecast period. Gears are an important part of the vehicle, which finds their application in the steering system, differential system, and transmission system. The sales of gears are expected to grow due to its rapidly increasing applications, such as wind and solar power, are expected to grow. In addition, the growing use of mechanized and automated elements in vehicles, technological developments, and demand for a better driving experience in terms of smooth gear shifts are propelling the automotive gears market forward.
To know about the Research Methodology :- Request Free Sample Report The global automotive gear market is driven mainly by increased vehicle manufacturing and global sales. The market is also driving forward due to growing commercial vehicle sales including trucks, tractors, and trailers. Lightweight and very strong aluminum and composite gears are projected to become more popular with a considerable expansion in their markets during the forecast period. The necessity for automatic transmission in automobiles is one of the fastest-growing advancements in the automotive sector, which has increased the demand for automobile gear. The development of plastic gears reinforced with carbon fiber is projected to propel the market forward over the forecast period.
The implementation of strict regulations to decrease excessive emissions has pushed vehicle manufacturers to design and construct environmentally viable alternatives. Electric cars have become a far more appealing choice for customers due to their better range, battery life, dependability, and cost. As a result, the growing electric vehicle market is expected to have a negative impact on the automotive gears market. Similarly, high-end gear system costs are likely to hinder market growth throughout the forecast period. Besides, continued technological advancement and investment in R&D efforts for enhancing vehicle economy and lowering carbon footprint are providing growth possibilities over the forecast period. By Product Type, the planetary gears segment dominated the market, with market size of US$ XX Mn. in 2019 and to reach US$ XX Mn. by 2026, with a CAGR of XX%. Planetary gears are used as speed reducers. They are used to slow down motors and increase the torque. Planetary gears are usually utilized in situations where space is restricted since they are smaller than other types of gearboxes. They are also the foundation of the hydraulic planetary automatic transmission, which is the most popular type of automatic gearbox. Also due to the growing installation of mechanical components in passenger cars, the planetary gears segment is expected to grow during the forecast period. By Material, the non-metallic gears segment dominated the market, with market size of US$ XX Mn. in 2019 and to reach US$ XX Mn. by 2026, with a CAGR of XX%. Non-metallic gears are more flexible than metallic gears due to their low modulus of elasticity, which is about 100 times lower than that of metal gears. As a result, with non-metallic gears, the actual contact ratio is higher than the ideal value.
By Vehicle Type, the passenger vehicles segment dominated the market, with market size of US$ XX Mn. in 2019 and to reach US$ XX Mn. by 2026, with a CAGR of XX%. The passenger cars are the largest segment, which includes sedans, hatchbacks, station wagons, Sports Utility Vehicles (SUVs), and Multi-Utility Vehicles (MUVs). An increase in demand for advanced features, rise in the standard of living, and rise in per capita income of individuals are some of the factors for the growth of the passenger cars Automotive Gears segment globally. Also, the growing interest of consumers towards safety, premium, luxury, and comfortable vehicles is expected to drive the growth of the passenger cars segment during the forecast period. Global Automotive Gears Market By Application, the transmission system gears segment dominated the market, with market size of US$ XX Mn. in 2019 and to reach US$ XX Mn. by 2026, with a CAGR of XX%. The system includes spur gear, helical gear, and planetary gear systems. In 2019, the segment of differential systems is expected to account for the largest share of the market in terms of value. The major function of the differential gear is to allow motorcycles to rotate at various speeds, although both wheels are powered by the motor. China is the largest market for gear manufacturing and sales, followed by India. Additionally, the market is being driven by the growing need for fuel-efficient cars and lightweight automotive parts. Furthermore, because of their high processing capacity, ample raw materials, and the manufacturers' focus on expanding revenue, China and Taiwan are important sites for gear production. The Asia-Pacific region is the largest automotive gears market, with a CAGR of XX per cent expected over the forecast period. North America held a market share of XX% in 2020 and is expected to increase by XX% during the forecast period. The vast consumer base of automobiles in the region has helped the market of automotive gear to grow, especially in commercial vehicles. The growing car industry in North America offers several opportunities for manufacturers of gear and other vehicle parts. Global Automotive Gears MarketThe objective of the report is to present a comprehensive analysis of the Global Automotive Gears Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Global Automotive Gears Market dynamics, structure by analyzing the market segments and project the Global Automotive Gears Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Automotive Gears Market make the report investor’s guide. Global Automotive Gears Market Scope: Inquire before buying Global Automotive Gears Market • North America • GKN PLC This Report Is Submitted By : Maximize Market Research Company Customization of the report: Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities. About Maximize Market Research: Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors. © 2021 pp |
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