Transmission system provides required torque delivery from the engine to the driven vehicle. Transmission system uses set of pulleys or gears to ensure the required speed and alternating torque from engine to the wheel of the vehicle. Automatic transmission has several advantages such as transferring power from engine to wheel, easy to handle, etc. Automatic transmission shifts the gear ratios automatically and hence make the task easy for the driver. Process of automatic transmission involves the transmission of engine torque so that upshift and downshift are managed automatically without any assistance of driver. Automatic transmission system are gaining demand in the developing economies as it is easy to handle and maintain as compared to manual automatic system. Automatic transmission make it easy to drive in heavy traffic by adjusting the gear automatically. Consumers’ main preference is to focus on the fuel efficient system without compromising with the efficiency of the vehicle. Automatic transmission is preferred over the manual one because of its prominent features of higher fuel efficiency, better comfort and increased power. Automatic transmission enhances driving experience due to improved acceleration and auto gear shifting. Rising fuel prices has shifted the focus of the consumer towards more efficient fuel systems. Technological advancement has led to the launch of 9-speed automatic transmission, continuous variable transmission and dual shaft gearboxes. Convenience and comfort offered by automatic transmission system is one of the most prominent driver to accelerate the growth of automatic transmission global market. The main reasons for opting for this technology are fuel efficiency, augmented power requirements, growing demand for vehicle performance and growing comfort levels. However, higher preliminary cost and low implementation rates in high volume markets have restrained the development of new technologies.
Market Dynamics: Automatic Transmission Global Market
The Automatic Transmission market is estimated to gain traction in the market over the forecast period owing to its significant drivers such as significant innovation processing technologies and introduction of fuel efficient. However, there are others factors which also expected to drive the demand of automatic transmission such as, growing automotive industrial sector in emerging and developed regions, increasing awareness about the benefits of automatic transmission system, growing consumer consciousness concerning environment-friendly and comfort. Manufacturers have strong opportunity to introduce innovative transmission system which are being manufactured to provide transitioning consumer demands of fuel effective & high-performance vehicles. Automotive and construction industries are expected to fuel the demand of automatic transmission in between the forecast period. The trend in the automatic transmission market is increase in demand of heavy-duty vehicles utilized for agriculture & building activities, rising population across the world in line with this growing spending on infrastructure is also expected to create new trend in the industry growth. On the basis of application, heavy-duty vehicles segment is expected to remain the dominant with more than half of the market value and volume share in 2016. The major manufacturers in the automatic transmission market which have extensive presence globally dominating the market with their extensive distribution network along with their innovative product portfolio is a key driving factor for the growth of automatic transmission market. Growing consumer preferences towards less carbon emission control vehicles has encouraged the manufacturers to achieve the minimum fuel efficiency and to continue this manufacturers has tie ups with OEM to develop specific product for automotive. Lack of awareness about the advantages of the automatic transmission system is acting as a restraint for the global automatic transmission system.
Market Segmentation: Automatic Transmission Global Market
The Automatic Transmission market is segmented on the basis of product types, classification and application
On the basis of Vehicle types, the Automatic Transmission market is segmented into:
On the basis of fuel type, the Automatic Transmission market is segmented into:
Regional Outlook: Automatic Transmission Global Market
Growing automotive sector in Asia Pacific is expected to grow with healthy CAGR over the forecast period, countries like India and China are the growing countries and are expected to gain traction in the forecast period. Stringent fuel efficiency and emission regulation in the North America and Europe are increasing the demand of automatic transmission vehicle. Middle East and Africa is expected to gain healthy market value share in automatic transmission market over forecasted period.
Key Market players: Automatic Transmission Global Market
Some of the key players in the polyurethanes additives market are:
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