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Automotive Transmission System Market is Anticipated to Reach US$ 70.2 Bn by 2031 End

Automotive Transmission System Market

Industrial technology concept.

Fact.MR predicts the global sales of automotive transmission systems to exceed US$ 70 Bn, registering a CAGR of 6.3% through the assessment period 2021-2031. Governments across the globe are contributing a massive share in fuelling the expansion of the automotive transmission system market by setting stricter regulatory norms regarding vehicular emission control. In addition, governments are compelling a growing number of automakers and technology leaders to bring electrification and fuel efficiency that would upgrade the automotive transmission systems.

Historically, from 2016 to 2020, the global automotive transmission system surged at a CAGR exceeding 5%. The COVID-19 pandemic affected various businesses. Due to the restriction on movements, the automotive industry faced losses. But, with work stations gaining momentum, the sales of automotive transmission systems are expected to retrieve.

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Research has confirmed time and again that the type of automotive transmission system implemented in a vehicle is imperative in shaping its fuel efficiency. Also, it has been proven that automated automotive transmission systems and dual-clutch automotive transmission systems exhibit higher efficiency over the manual variant of automotive transmission systems – in terms of gearshift comfort and reduced energy loss. This, in turn, is accelerating the sales of automotive transmission systems.

Key Takeaways from the Market Study

 “Increasing usage of passenger cars and strict regulations set by the government is expanding the demand for automotive transmission systems.” opines a Fact.MR analyst

Competitive Landscape

Prominent companies operating in the automotive transmission systems space include Aisin Seiki Co. Ltd, Renault SA, Continental AG, Magna International Inc., Eaton Corporation PLC and Hyundai Motor Company among others.

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