Automotive Gear Market to Hit USD 52.26 billion by 2032 Owing to Growing Demand for Efficient & Lightweight Transmission

The Automotive Gear Market is experiencing robust growth driven by technological advancements in gear systems and a surge in demand for fuel-efficient vehicles

AUSTIN, TX, UNITED STATES, December 2, 2024 /EINPresswire.com/ --


Automotive Gear Market¹

The Automotive Gear Market was valued at USD 40.05 billion in 2023 and is expected to reach USD 52.26 billion by 2032, growing at a CAGR of 3.2% over the forecast period of 2024-2032.

Rising Demand for Automotive Gears Driven by Vehicle Production Growth, Consumer Preferences, and Technological Advancements.

The upsurge in the production of both conventional and electrical vehicles has been one of the main drivers for demand in automotive gear. Moreover, higher consumer preference for a quality driving experience and the efficiency of performance adds to the same notion. Automatic transmissions have gradually gained acceptance as their adoption rate is increasing by 10-12% on an annual basis. The growth has prominently accelerated in regions, such as North America and Europe.

Technological advancements in gear mechanisms - both DCTs and CVTs - have culminated in superior fuel efficiency as well as ride quality. There will also be gear growth in the powertrain sector for electric vehicles (EVs) by about 20-25% over the next few years, due to the rising adoption of EVs globally.

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Key Players Listed in the Automotive Gear Market Are:

• ZF Friedrichshafen AG
• BorgWarner Inc
• Aisin Seiki Co. Ltd.
• Mahindra & Mahindra
• Timken Company
• Rockwell Automation
• Brembo S.p.A.
• Getrag and other Key Players

Lightweight Material Usage is another Important Factor in The Growth of Automotive Gear Market.

Gears made from aluminum and composite are becoming increasingly popular as they can reduce up to 15% of a car's weight, which is quite stringent for the emission and fuel efficiency standards. With growing demand from the consumers for high-performance vehicles, the scope for more complex gear systems, higher power delivery, and even refined control parameters develops.

Thus, it is very much in accordance with the need that goes with the helical gears because of the primary attribute that makes them favourable in electric vehicles; this is the aspect of noise cancellation during operation, which factors helped in its growth by about 35% over the last five years. Additionally, lightweight aluminum gears have seen a 28% increase in demand during the last two years, which clearly shows momentum towards emission control and efficient driving.

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Automotive Gear Market Segment Analysis

In terms of Raw Material

Metallic gears had a major share of about 70% in 2023. They are characterized by great strength, toughness, and load-bearing capabilities, which position them for use in high-stress applications including transmission and differential units. Materials such as carbon steel, stainless steel, and aluminum alloys also find common applications in these gears, the reason they are still the preferred choice for a conventional vehicle powertrain.

On the other hand, plastic gears accounted for almost 30% of the market mainly because of their lightweight and cheaper properties. Some of the common raw materials include acetal, nylon, and polycarbonate. They are used in low-load applications, such as electronic componentry, where reduced noise is very essential.

In terms of Product Types

Planetary gears held the highest share at 35% in 2023. Their small size and high torque output also make them first choice for the use in automatic and hybrid transmissions, all-wheel drive systems, and differentials of SUVs and off-road vehicles. Bevel gears follow with a share of 25% as they are used for power transmission on different angles.

Helical gears are appreciated in terms of efficiency, smoothness, and noise reduction, which more often nowadays places them at an increased order in both conventional and electric vehicles. The importance of these non-metallic gears primarily as a weight-reduction factor and corrosion-resistant is gaining much momentum today, especially because of the popularity of electric vehicles.

Automotive Gear Market Key Segmentation:

By Material

• Metallic
• Plastic

By Product Type

• Planetary
• Bevel
• Helical
• Non-Metallic
• other

By Vehicle Type

• Passenger vehicle
• Commercial vehicle

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Regional Analysis:

North America led with a market share of approximately 30% of the total market in 2023. This can be ascribed to prominent presence of multinational automobile firms and the significance of technology and innovation. The US is the most prominent car market, offering a massive mileage for technological progress in electric and autonomous vehicles, most of which make use of advanced gear technologies. Not to mention the urgent demands in North America on concerns of fuel efficiency and emissions, stringent regulations are significantly driving the demand for high-performance gear systems.

Europe comprises about 25% of market share in 2023. The region is famous for its large manufacturing capacities of automobiles. A high emphasis on research and development has kept it as the critical location for any developed automobile. Countries like Germany, France, and UK lead in the design of advanced transmission systems and lightweight materials for gear.

Recent Developments:

ZF Friedrichshafen AG, has made significant steps forward in developing electric drive systems that bring together high-class gear technology for Electric Vehicles. In 2023, the Company presented new modular drive architecture that includes innovative gear designs to ensure increased efficiency and the elimination of noise generation.
BorgWarner Inc. Sees Huge Spikes in Power Shares in the Hybrid and Electric Vehicle Market After It Launched its Latest eGearDrive Systems.

Table Of Contents

1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Automotive Gear Market Segmentation, By Material Type
8. Automotive Gear Market Segmentation, by Product Type
9. Automotive Gear Market Segmentation, by Vehicle Type
10. Regional Analysis
11. Company Profiles
12. Competitive Landscape
13. Use Case and Best Practices
14. Conclusion

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¹ https://www.snsinsider.com/reports/automotive-gear-market-4708