# Global Automatic Transmission Market (2023-2029) --- ## Report Summary The Global Automatic Transmission Market worth USD 106.00 billion in 2023 is projected to reach USD 94.60 billion by 2030, growing during 2025-2031. --- ## Global Automatic Transmissions Market Table of Content Table of Content - 1. Global Automatic Transmission Market Overview - 1.1. Market Highlights - 1.2. Global Automatic Transmission Market Taxonomy - 1.3. Global Transmission Market Definition - 2. Global Automatic Transmission Market Ecosystem - 3. Global Automatic Transmission Market Size (in USD Bn), 2017-2023 - 4. Global Automatic Transmission Market Segmentation, 2023 - 4.1. Global Automatic Transmission Market Segmentation by Type of Transmission (in USD Bn), 2023 - 4.2. Global Automatic Transmission Market Segmentation by Type of Consumer (in USD Bn), 2023 - 4.3. Global Automatic Transmission Market Segmentation by Region (in USD Bn), 2023 - 5. Global Automatic Transmission Market Competitor Analysis - 5.1. Global Automatic Transmission Market Share (in%), 2023 - 5.2. Global Automatic Transmission Market Company Profile - 5.3. Global Automatic Transmission Market Players Cross-Comparison, 2023 - 6. Global Automatic Transmission Market Players Cross-Comparison, 2023 - 6.1. Growth Drivers in Global Automatic Transmission Market - 6.2. Challenges in Global Automatic Transmission Market - 6.3. Recent developments in Global Automatic Transmission Market - 7. Global Automatic Transmission Future Market Size (in USD Bn), 2023-2030 - 8. Global Automatic Transmission Future Market Segmentation, 2030 - 8.1. Global Automatic Transmission Market Segmentation by Type of Transmission (in USD Bn), 2030 - 8.2. Global Automatic Transmission Market Segmentation by Type of Consumer (in USD Bn), 2030 - 8.3. Global Automatic Transmission Market Segmentation by Region (in USD Bn), 2030 - 9. Global Automatic Transmission Market Opportunities and Future Trends - 10. Global Automatic Transmission Market Macro Indicators - 10.1. Global GDP and GDP Growth Rate,2017-2023 - 10.2. Global Inflation Rate, 2017-2023 - 10.3. Global Customer Confidence Index, 2017-2023 - 10.4. Global Employment Rate, 2017-2023 - 11. Global Automatic Transmission Market Research Methodology - 11.1. Global Automatic Transmission Market Definitions - 11.2. Global Automatic Transmission Market Sizing Approach - 11.3. Global Automatic Transmission Market Consolidated Research Approach --- ## Global Automotive Market Overview Global Automotive Transmission Market Highlight The global automotive transmission market was valued at USD 106 Bn in 2023 and grew at a CAGR of -3.02% during 2017–2023. The market is expected to reach USD 107.6 Bn by 2029, growing at a CAGR of 6.53% during 2023–2029. The automotive transmission market is highly consolidated, with the presence of certain large established players. Key factors influencing growth include the increasing number of passenger vehicles, rising fuel efficiency requirements, and a shift from manual to automatic transmission. *The global automotive transmission market was valued at USD 106 Bn in 2023 grown at a CAGR of -3.02% in 2017-2023* --- ## Taxonomy | ID | Parent ID | Label | | --- | --- | --- | | 1 | | Global Automatic Transmission Market | | 2 | 1 | Transmission Type | | 3 | 2 | Automatic Transmission | | 4 | 2 | Automated Manual Transmission | | 5 | 2 | Dual Clutch Transmission | | 6 | 2 | Continuously Variable Transmission | | 7 | 2 | EV/Hybrid Vehicle Transmission | | 8 | 1 | Vehicle Type | | 9 | 8 | Light Commercial Vehicles | | 10 | 8 | Heavy Commercial Vehicles | | 11 | 8 | Passenger Vehicles | | 12 | 1 | Region | | 13 | 12 | North America | | 14 | 12 | Europe | | 15 | 12 | Asia-Pacific | | 16 | 12 | Middle East and Africa | | 17 | 12 | Latin America | | 18 | 1 | Fuel Type | | 19 | 18 | Petrol (Gasoline) | | 20 | 18 | Diesel | | 21 | 18 | Hybrid | | 22 | 18 | Electric | | 23 | 1 | Products/ Services Offered | | 24 | 23 | Complete Transmissions | | 25 | 23 | Spare Parts | --- ## Global Automotive Transmission Market Ecosystem ### Market Ecosystem **Ecosystem of Global Automotive Transmission** --- ## Global Automotive Transmission Market Size (in USD Bn), 2017-2023 The global automatic transmission market witnessed significant losses over the past few years, declining from USD 127.4 billion in 2017 to around USD 106.0 billion by 2023, registering a CAGR of -3.02%. This downturn can be largely attributed to multiple factors, including the COVID-19 pandemic and the Russia-Ukraine conflict, both of which severely disrupted supply chains and raw material procurement. Another major factor was the shortage of silicon-based chips, which slowed vehicle production and increased prices, thereby affecting the broader automotive market. However, the global automatic transmission market has started to normalize and is expected to return to its previous level by 2025 or 2026, with projected growth at an accelerated CAGR of over 6.5%. --- ## Global Automotive Transmission Market Segmentation, 2023 ### Global Automatic Transmission Market Segmentation by Type of Transmission (in % revenue), 2023 In the global automatic transmissions market, traditional automatic transmission has emerged as the leading segment, holding a market share of over 52%, followed by continuously variable transmission with a 26% share and dual clutch transmission with a 20% market share. It is interesting to note that DCT and CVT have witnessed rapid growth in certain niches, such as CVT in small and hybrid cars and DCT in high-performance and luxury cars. Continuously Variable Transmission (CVT) and Automatic Manual Transmission are expected to see growing popularity in developing regions across Asia-Pacific, Latin America, and Africa, mainly due to their low cost and better fuel efficiency, making them popular choices because of lower upfront and maintenance costs. Dual Clutch Transmissions are popular choices in luxury and sports cars due to their significantly faster shifting times, making them suitable options. The demand for automatic transmission is also increasing in the commercial vehicle space, where Dual Clutch Transmissions and traditional automatic transmissions are among the most suitable applications. ### Global Automatic Transmission Market Segmentation by Region (in % revenue), 2023 In the global automatic transmissions market, Asia-Pacific has emerged as the leading region, accounting for over 44% of the market share, followed by North America with 36% and Europe with 16%. Asia-Pacific holds the largest share owing to the high volume of vehicle production in the region and the increased penetration of automatic transmissions, especially automated manual transmissions, due to reduced cost and availability in the budget segment. Europe is also expected to witness strong growth, mainly because of the declining cost of automatic transmissions and improving shifting performance, making them a more popular choice among consumers. In Latin America and Africa, however, the growth of automatic transmissions continues to be strongly affected by high costs, a flourishing used car market, and a general preference and lower awareness for automatic transmissions. ### Global Automatic Transmission Market Segmentation by Vehicles Type (in % revenue), 2023 In the global automatic transmissions market, passenger vehicles have emerged as the leading segment, accounting for over 72% of the market share, followed by commercial vehicles with a 28% share. Within the commercial vehicle segment, light commercial vehicles hold a share of over 84%, followed by heavy commercial vehicles at 14.1% and heavy buses and coaches at around 1.08%. The demand for automatic transmission has also increased in the commercial vehicle space, where Dual Clutch Transmissions and Automatic Manual Transmission are gaining relevance. --- ## Global Automotive Transmission Industry Analysis ### Global Automatic Transmission Market Growth Drivers **Increasing Number of Passenger Vehicles** As economies in developing regions like Asia-Pacific, Latin America and Africa grows so does the demand in growth of personal vehicles. Considering the reducing prices and increasing adoptions for automatics in these market for automatic transmission is also expected to rise. It is estimated that the total number of passenger vehicles is expected to grow at a CAGR of about 1.25% globally to a total of about 75.16m vehicles by 2028 **Comfort and Convenience** Automatic transmissions offer a more relaxed and comfortable driving experience as compared to manual transmissions. This preference is particularly strong in regions with dense traffic conditions and long commutes. In 2022, Only 1.7% of vehicle sales accounted for manual transmission in the US, Europe also saw a sharp rise of less than 20% automatics in 2018 to over 50% in 2022. **Increasing Fuel Efficiency** Modern automatic transmission are becoming increasingly more sophisticated thanks to advances such as multiple gear ratio resulting in smoother shifting and increased fuel efficiency. This makes them more appealing to consumers on a budget. CVT offer the best in class fuel efficiency ### Global Automatic Transmission Market Challenges **High Ownership and Maintenance Cost** Modern automatic transmissions face a dual challenge concerning cost and maintenance. The increasing complexity of these systems, featuring multiple gear ratios and advanced control systems, raises manufacturing costs, potentially affecting consumer affordability. Simultaneously, the intricate nature of automatic transmissions complicates aftermarket service and repair, demanding skilled technicians, specialized tools, and accessible spare parts. **Stringent Regulatory Standards and Rise of Electric Vehicles** Meeting stringent emissions standards necessitates continuous innovation to reduce fuel consumption without compromising performance. Concurrently, manufacturers must balance consumer expectations, encompassing fuel efficiency, performance, and affordability, in their design and marketing strategies. The shift towards electrification, driven by the increasing popularity of EVs, demands adaptations in transmission technologies. Manufacturers face the intricate task of aligning with regulatory requirements, meeting consumer demands, and integrating seamlessly into the electrified future of the automotive industry. ### Global Automatic Transmission Market Recent Developments In May 2023, ZF announced that the PowerLine 8-speed automatic transmission production line has been installed and expects the production to start by fall of 2023 In August 2022, Toyota announced a new 1-motor hybrid transmission in collaboration with Denso, BluE Nexus Corp., and AISIN Corp. The transmission is used in Toyota’s new Crown Crossover RS In June 2021, Jatco Ltd. announced that it had developed the CVT-X, a new CVT for medium to large FWD vehicles that improves environmental performance and drivability In September 2021, Citroen announced starting the production of its new C5 X crossover wagon equipped with an eight-speed automatic transmission supplied by Aisin Seiki In February 2020, Hyundai and Kia Motors announced the development of world’s first connect transmission system enables the vehicle to automatically shift to the optimal gear after identifying the road and traffic conditions ahead --- ## Global Automotive Transmission Market Major Players Profile | Year | Company | Description | | --- | --- | --- | | 1915 | Friedrichshafen | ZF Friedrichshafen was established in 1915, headquartered in Germany. The company has its operations globally and has an employee base of around 164,869 employees. The company generated a revenue of USD 25.21 Bn in 2023. The company offers multiple automotive solutions namely powertrains, active passive safety, car chassis, commercial automotive solutions, and e-mobility. The company offers powertrains for both passenger and commercial vehicles | | 1965 | Aisin Corporation | Aisin Corporation was established in 1965, headquartered in Japan. The company has its operations globally and has an employee base of around 116,649 employees. The company generated a revenue of USD 32.58 Bn in 2022. The company offers multiple automotive solutions namely powertrains, chassis, body products, and electronic solutions and has over 199 subsidiaries across the world The company offers powertrains for both passenger and commercial vehicles | | 1999 | Jatco | Jatco stands for "Japan Automatic Transmission COmpany" was established in 1999, headquartered in Japan. The company has its operations globally and has an employee base of around 11,800 employees. The company generated a revenue of USD 4.13 Bn in 2022. The company claims to be a leading manufacturer of CVT (continuously variable transmission), and are highly acclaimed for their smooth acceleration and superior fuel performance. The company offers powertrains for passenger vehicles | | 1994 | Hyundai Transys | Hyundai Transys was established in 1994, headquartered in South Korea. The company has its operations globally and has an employee base of around 9964 employees. The company generated a revenue of USD 8.21 Bn in 2022. The company offers automotive solutions foscused towards powertrains and seats. The company offers powertrains for both passenger and commercial vehicles. In 2020, the company was first to develop world’s first connect transmission system enables the vehicle to automatically shift to the optimal gear after identifying the road and traffic conditions ahead | | 1957 | Magna International | Magna International was established in 1957, headquartered in Canada. The company has its operations globally and has an employee base of around 181,100 employees. The company generated a revenue of USD 37.8 Bn in 2023. The company offers multiple automotive solutions namely powertrains, assembly, modules, and components, the company offers its transmission solutions through is subsidiary GETRAG which it acquired in 2016. The company offers powertrains for both passenger and commercial vehicles | | 1999 | Eaton | EATON was established in 1999, headquartered in Ireland. The company has its operations globally and has an employee base of around 92,000 employees. The company generated a revenue of USD 20.752 Bn in 2023. The company offers multiple automotive solutions and offers powertrains and aftermarket parts. The company offers powertrains and spare parts for commercial vehicles | --- ## Global Automotive Transmission Future Market Size ### Global Automotive Transmission Future Market Size (in USD Bn), 2023-2030 The global automatic transmissions market is expected to witness strong growth, rising from USD 99.6 billion in 2023 to over USD 160 billion by 2030, registering a CAGR of 6.53% during 2023–2030. This growth is primarily driven by increasing customer preference for a smooth and comfortable driving experience, growth in both passenger and commercial vehicle volumes, and rising consumer awareness and preference for fuel-efficient and environmentally friendly options. In terms of transmission type, traditional automatic transmission is expected to continue leading the market and currently holds over 50% share. Regionally, Asia-Pacific is poised to be the fastest-growing market, supported by increasing vehicle production, rising customer preference for automatic transmissions, and declining transmission prices. Some of the leading players in the market include ZF Friedrichshafen, AISIN Corporation, JATCO, Hyundai Transys, Magna International, and EATON. --- ## Global Automotive Transmission Market Macro Economic Indicators ### Global Gross Domestic Product and Growth Rate (USD Tn), 2017 – 2022 From 2017 to 2022, the World’s Gross Domestic Product (GDP) experienced an unsteady growth trajectory, starting at $814.8 Tn in 2017 and reaching $1013.3 Tn in 2022. The major reason for this erratic trend is owed to the COVID-19 pandemic which resulted in complete lockdowns and strong restrictions on global trade which was followed by strong growth in 2021 to normalization and in levels with growth before 2020. ### Global Inflation Rate (in %), 2017 – 2022 From 2017 to 2022, the World’s inflation rate has been fairly constant till 2020, starting at 2.3% in 2017 and falling to just 1.9% in 2020 and the taking significant jumps in 2021 and 2022. The Inflation rate for 2022 is around 8% which is the highest in the past decade and is just short of the inflation rate in 2008. ### Consumer Confidence Index, 2017 – 2023 Consumer confidence reflects the overall sentiment of buyers. Higher confidence levels typically result in increased spending on big-ticket items like vehicles. The Consumer confidence index has been gradually declining from 101 in 2017 to 97.8 in 2022, this decline has majorly occurred starting 2020 due to the decline in GDP and other socio-economic conditions like the pandemic, global layoffs and the ongoing war between Russia and Ukraine. ### Global Employment Rate (in %), 2017 – 2022 Employment levels influence consumer purchasing power. High employment rates generally boost consumer confidence, leading to increased vehicle purchases. The global employment rate has been fairly stable except for the year 2020, where the employer rate dipped to around 54.5% which resulted in huge losses both in terms of GDP and employment rates. The employment rates have started to improve and are currently at 56.4%, however, they are still lower as compared to pre-COVID-19 levels --- ## Frequently Asked Questions Find quick answers to common questions about the Global Automatic Transmissions Market **Q: How big is Global Automatic Transmissions Market?** A: The Global Automatic Transmissions market, valued at USD 105.98 Bn in 2023, declined with a Compound Annual Growth Rate (CAGR) of -3.02% from 2017 to 2023. **Q: Who are the major players in Global Automatic Transmissions Market?** A: The Global Automatic Transmissions Market is fragmented with presence of certain large established players in the market. Some of well-established players in this market are ZF Friedrichshafen, Aisin Corporation, Jatco and Magna International. **Q: What are the factors driving Global Automatic Transmissions Market?** A: The major growth drivers for the automatic transmission market are customer preference smooth and comfortable driving experience, a rise in number of vehicles both passenger and commercial, and consumer awareness and preference for fuel efficiency and environmentally friendly options. **Q: What is the future of Global Automatic Transmissions Market?** A: Global Automatic Transmissions Market is expected to reach USD 164.9 by 2030 with a projected CAGR of 6.53% between 2023-2030.