The Latin America, Middle East and Africa Automotive Transmission Market would witness market growth of 6.7% CAGR during the forecast period (2021-2027).
The industry is predicted to expand due to rapid technological advancements in automotive transmission manufacturing. Furthermore, owing to the shift in demand for fuel-efficient products with increased performance, the adoption of Continuously Variable Transmission (CVT) and Dual Clutch Transmission (DCT) technologies over manual and automatic systems would increase in the coming years.
CVTs, or continuously variable transmissions, are pulley-based gearboxes that are most commonly found in compact vehicles with modest engines. CVTs are widely utilized by snowmobiles, ATVs, and side-by-sides for several years. These have recently become more prevalent in hybrid vehicles.
The increase in the number of regulations and compliances imposed on the automobile makers across this region in order to use latest technology to lower down the level of emission would encourage automotive manufacturers to adopt advanced automotive transmission for their vehicles. In 2018, Euro 4 regulation was made a mandate by the country’s Emirates Authority for Standardization and Metrology (ESMA), which promotes environment-friendly fleets in the UAE.
The Brazil market dominated the LAMEA Automotive Transmission Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $6.5 billion by 2027. The Argentina market would showcase a CAGR of 7.2% during (2021 - 2027). Additionally, The UAE market is poised to grow a CAGR of 6.4% during (2021 - 2027).
Based on Fuel Type, the market is segmented into Gasoline, Diesel and Others. Based on Transmission Type, the market is segmented into Manual and Automatic. Based on Vehicle Type, the market is segmented into Passenger Cars, LCVs and HCVs. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Automotive Transmission Market is Predict to reach $199.7 Billion by 2027, at a CAGR of 4.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nissan Motor Corporation (Jatco Ltd), Allison Transmission Holdings, Inc., GKN plc (Melrose Industries plc), Continental AG, Eaton Corporation PLC, BorgWarner, Inc., Magna International, Inc., ZF Friedrichshafen AG, and Schaeffler AG.
By Fuel Type
By Transmission Type
By Vehicle Type
By Country
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