The North America Automotive Transmission Market would witness market growth of 3.6% CAGR during the forecast period (2021-2027).
The method of managing the power application in an automobile is known as automotive transmission. It is utilized to transfer power from the engine to the differential and axel, which then transmit to the wheels. The automotive transmission system's job is to control power applications and engage gears in response to the vehicle's torque and speed. The gearbox, propeller shaft, clutch, rear axle, and wheels are all part of it.
Driving in congested areas can be challenging for drivers, especially in situations where there is a frequent interaction takes place with other motorists. Automotive transmission enables drives to match their speed with the surrounding and correctly judge the situation. Attention is one of the requirements for safe driving.
Developed countries across this region like Canada and the US are taking numerous efforts or initiatives to minimize the emission of harmful pollutants from vehicles into the atmosphere. For example, Kyoto Protocol is an agreement signed by the U.S. and other developed nations, which aimed to bind these nations in order to minimize greenhouse gas emissions. Due to such regulations on the automotive manufacturers, they are using improved automotive transmission to boost the fuel efficiency and performance of the vehicle.
The US market dominated the North America Automotive Transmission Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $29.5 billion by 2027. The Canada market is expected to witness a CAGR of 5.3% during (2021 - 2027). Additionally, The Mexico market would exhibit a CAGR of 4.6% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Automotive Transmission Market is Estimated 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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