Global Automotive Gears Market Analysis, Development, Growth and Demand Forecast to 2022 by P&S Market Research
The automotive gears market is driven by increasing demand for improved acceleration, low carbon footprint and increase in production of vehicles, mainly in Asia-Pacific. In addition, economic growth and increase in income levels in the developing countries result into high demand and production of vehicles, which is further driving the growth of automotive gears market. The production volume for passenger car and LCV segments in Asia-Pacific accounted for more than 50% of the global production. The increasing production in the region is complimented by intensifying demand for passenger cars and LCV in the region. The improving economy and standard of living in countries such as China and India have resulted in increased sales volume of automotive. The high automotive production volume in Asia-Pacific has made it an attractive market for automotive gears.
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An automotive gear is a rotating part containing teeth, which forms a mesh with another toothed machine part or gear and transmits torque. The gears can change torque, speed and direction of the power source. Automotive gears are of various types, including spur gear, bevel gear, planetary gear, helical gear, rack and pinion, and others. An automatic transmission is a type of motor vehicle transmission that can automatically change gear ratios as the vehicle moves, which prevent the driver from shifting the gears manually. Increasing demand for automatic transmission in vehicles is one of the growing trends witnessed in the automotive industry, which has increased the demand of the automotive gears due to its automatic function that provides ease in driving of vehicle. Automatic transmission also helps in achieving better fuel efficiency and less wear and tear of the gears which results in long life of gears.
The planetary gears used in automobiles are expected to account for the largest market during the forecast period, attributed to the increasing demand for low-carbon-footprint technologies. The planetary gear systems enable vehicle’s engine to run at an optimum level, thereby reducing engine losses that may result from friction and lubrication.
Asia-Pacific is expected to lead the automotive gears market during the forecast period. In 2015, India and China were the major contributors of automotive gears market in the region. The increasing domestic automotive production, especially in countries such as India and China, is expected to boost the growth of the Asia-Pacific automotive gears market. North America is expected to constitute the second largest automotive gears market during the forecast period owing to the large customer base and high disposable income resulting in increased demand of vehicles in the region. This has resulted in increased manufacturing activities by local automotive OEMs. This in turn, boosts the growth of the automotive gears market. The European countries such as Germany, France and Spain to contributed highest to the growth of the European automotive gears market in 2015.
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Some of the major competitors in the global automotive gear market include Showa Corporation, Bharat Gears Limited, IMS Gear, RSB Transmissions (I) Ltd., Robert Bosch GmbH, ZF Friedrichshafen AG, E. I. du Pont de Nemours and Company, GKN plc, Univance Corporation and American Axle & Manufacturing Holdings, Inc.
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