What is Global Automotive Gear Market?
The Global Automotive Gear Market is a vast and dynamic sector that plays a crucial role in the automotive industry. It encompasses a wide range of gears used in various types of vehicles, including cars, trucks, and motorcycles. These gears are integral components of a vehicle's transmission system, which is responsible for transferring the engine's power to the wheels. The market's value was estimated at US$ 29,590 million in 2023, and it is projected to grow significantly in the coming years. The increasing demand for vehicles, advancements in gear technology, and the need for fuel-efficient transmission systems are some of the key factors driving the growth of this market. The global automotive gear market is also influenced by various trends in the automotive industry, such as the shift towards electric vehicles and the increasing use of advanced materials in gear manufacturing.
Spur Gear, Bevel Gear, Screw Gear, Miter Gear, Others in the Global Automotive Gear Market:
The Global Automotive Gear Market is segmented into various types of gears, including Spur Gear, Bevel Gear, Screw Gear, Miter Gear, and others. Each of these gears has unique characteristics and applications in the automotive industry. Spur gears, for instance, are the most common type of gear used in vehicles. They have straight teeth and are used in transmissions to change the speed or direction of rotation. Bevel gears, on the other hand, are used in differential drives to allow wheels to rotate at different speeds. Screw gears are used in applications where high precision is required, while miter gears are used in applications where the direction of rotation needs to be changed by 90 degrees. The choice of gear depends on various factors, including the type of vehicle, the requirements of the transmission system, and the desired performance characteristics.
Passenger Cars, Commercial Vehicles in the Global Automotive Gear Market:
The Global Automotive Gear Market caters to a wide range of applications, including Passenger Cars and Commercial Vehicles. In passenger cars, gears are used in various systems, including the transmission, differential, and steering. They play a crucial role in ensuring smooth and efficient operation of the vehicle. In commercial vehicles, gears are used in heavy-duty applications, such as trucks and buses. These vehicles require robust and durable gears that can withstand high loads and harsh operating conditions. The demand for gears in these applications is driven by factors such as the increasing number of vehicles on the road, the need for fuel-efficient vehicles, and the advancements in gear technology.
Global Automotive Gear Market Outlook:
Looking at the market outlook, the Global Automotive Gear Market is poised for substantial growth in the coming years. In 2023, the market was valued at US$ 29,590 million. However, it is projected to reach a staggering US$ 39,130 million by 2030. This represents a compound annual growth rate (CAGR) of 3.6% during the forecast period from 2024 to 2030. This growth can be attributed to several factors, including the increasing demand for vehicles, advancements in gear technology, and the need for fuel-efficient transmission systems. The market's growth is also influenced by various trends in the automotive industry, such as the shift towards electric vehicles and the increasing use of advanced materials in gear manufacturing.
| Report Metric | Details |
| Report Name | Automotive Gear Market |
| Accounted market size in 2023 | US$ 29590 million |
| Forecasted market size in 2030 | US$ 39130 million |
| CAGR | 3.6% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | A. BENEVENUTA & C (Italy), A.M. GEARS (Italy), ThyssenKrupp (Germany), Eaton (USA), GKN (UK), NOK (Japan), Linamar (Canada), SHOWA (Japan), Musashi Seimitsu Industry (Japan), Aichi Steel (Japan), TPR (Japan), Sona Group (India), Zhejiang Wanliyang (China), Univance (Japan), Nittan Valve (Japan), Fine Sinter Co., Ltd. (Japan), Metalart (Japan), Motonic (Korea), Ningbo Tianlong Electronics (China), ILJIN (Korea), Aarnika (India) |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
