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(USGovernment-News.Com, October 10, 2018 ) The Automotive Gears Market is projected to grow at a CAGR of 6.1% from 2015 to 2020. The market is estimated to be USD 28.47 Billion in 2015 and is projected to reach USD 38.27 Billion by 2020.
Smooth gear shifting (which enhances the driving experience) and the growing demand for low-carbon-footprint technologies are some of the key drivers fueling the growth of the global automotive gears market.
Planetary gears: A promising market
Planetary gears are estimated to dominate the global automotive gears market, in terms of value, in 2015. Planetary gear systems are used in various automotive applications, including transmission and differential systems. The growth of planetary gears can also be attributed to the growing demand for low-carbon-footprint technologies, as these gear systems enable the vehicle’s engine to run at an optimum level, thereby reducing engine losses that may result from friction and lubrication. The planetary gears segment of the global automotive gears market, in terms of value, is projected to grow at the highest CAGR during the forecast period.
Asia-Pacific accounted for the largest share of the global automotive gears market in 2015. The region generates high demand for vehicles with advanced features. OEMs are subsequently increasing production capacity and expanding technical centers to meet the demand for these vehicles. The automotive industry in Asia-Pacific has witnessed a year-on-year increase in sales. The region is the leading producer of automobiles in the world.
North America is estimated to constitute the second-largest automotive gears market, by value, in 2015. The region is dominated by domestic OEMs such as Ford Motors Co. (U.S.), General Motors Co. (U.S.), and Fiat-Chrysler Automotive (U.S.). The U.S. alone has 32 manufacturing facilities dedicated to vehicle production. The large customer base and high disposable income of end-users have fueled the demand for vehicles in the country, which has resulted in increased manufacturing activities by local automotive OEMs. The growing North American automotive market represents several opportunities for manufacturers of automotive gears and other automotive parts.
The European region has been segmented into Germany, France, the U.K., and Italy. Europe is estimated to account for the third-largest share in the global automotive gears market in 2015. The European automotive gears market is projected to grow at a promising CAGR during the forecast period.
The report analyzes all major players in the automotive gears market, including Robert Bosch GmbH (Germany), GKN plc (U.K.), Showa Corporation (Japan), Bharat Gears (India), and ZF TRW (U.S.), along with numerous local players.
It covers the automotive gears market, in terms of volume (million units) and value (USD million). It explains the qualitative and quantitative aspects of the market on the basis of region, application, product type, material type, and vehicle type from 2015 to 2020. It also provides an overview of technical factors and other important aspects of the automotive gears market.
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