Automotive Gears Market Overview:
Global Automotive Gears Market size and share is currently valued at USD 42.04 billion in 2024 and is anticipated to generate an estimated revenue of USD 57.39 Billion by 2034, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 3.2% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2025 – 2034
Key Market Drivers:
- Rising Vehicle Production: An increase in global vehicle manufacturing directly boosts demand for automotive gears.
- Technological Advancements: Developments in gear design and materials improve performance and efficiency, driving market growth.
- Aftermarket Services Expansion: The growth of automotive repair and customization services increases the need for replacement gears.
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Key Companies in Automotive Gears Market:
- American Axle and Manufacturing Holdings Inc.
- Bharat Gears Ltd.
- GKN Powder Metallurgy
- JTEKT Corporation
- Suzuki
- Robert Bosch GmbH
- Hitachi Astemo
- IMS Gear
- Univance Corporation
- Eaton
- Cummins Inc
- RSB Global
- Schaeffler India
- Toyota
- ZF
Automotive Gears – Research Scope
Research on automotive gears encompasses advancements in material composition, manufacturing techniques, and gear design optimization for improved vehicle performance. The scope includes the impact of electrification on gear systems, innovations to reduce noise and vibration, and the development of lightweight yet durable gears. Studies also analyze the growing use of high-precision gears in autonomous and electric vehicles.
Automotive Gears Market Segmentation:
The automotive gear market is segmented by gear type, material, application, and region. Gear types include spur gears, helical gears, and bevel gears. Materials are divided into metal and plastic gears. Applications focus on transmission systems, differentials, and steering systems. Regionally, segmentation covers North America, Europe, Asia-Pacific, and Latin America, with Asia-Pacific dominating due to a strong automotive manufacturing base.
Automotive Gears Market, Application Type Outlook (Revenue – USD Billion, 2020-2034)
- Transmission System
- Automatic Transmission
- Automated Manual Transmission
- Manual Transmission
- Dual-Clutch Transmission
- Differential System
- Steering System
- Other Automotive Applications
Automotive Gears Market, Vehicle Type Outlook (Revenue – USD Billion, 2020-2034)
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Automotive Gears Market, Material Type Outlook (Revenue – USD Billion, 2020-2034)
- Metallic
- Non-Metallic
Automotive Gears Market, Gear Type Outlook (Revenue – USD Billion, 2020-2034)
- Planetary Gears
- Bevel Gears
- Rack and Pinion Gears
- Hypoid Gears
- Worm Gears
- Helical Gears
- Spur Gears
- Pinion Gears
Automotive Gears Industry Developments:
- June 2024: Schaeffler India unveiled an innovative Planetary Gear System (PGS) tailored for Dedicated Hybrid Transmission (DHT) vehicles in India. Designed to enhance vehicle performance, the system offers significant advantages to OEM partners. By manufacturing these systems locally, Schaeffler India strengthens its value proposition for OEMs.
- September 2024: The GR Corolla lineup expanded for the 2025 model year with the introduction of an 8-speed GAZOO Racing Direct Automatic Transmission (DAT) featuring paddle shifters. This new transmission option caters to both enthusiasts seeking the thrill of a manual transmission and drivers prioritizing dynamic handling with an automatic.
- February 2024: ZF announced the commencement of production for its PowerLine 8-speed automatic transmissions at its Gray Court, South Carolina facility. Following a USD 200 million investment from 2021, the facility is scaling up production to 200,000 units annually by 2025 to meet growing demand from U.S. commercial vehicle manufacturers, including three domestic customers.
The Automotive Gears market report offers an in-depth analysis of market dynamics, including trends, sizes, patterns, and growth factors. It highlights critical developments and emerging trends to help stakeholders refine their strategies and strengthen market positioning. The report concludes with a detailed summary of key findings and the research methodologies employed. This comprehensive analysis serves as a valuable resource for businesses, investors, and stakeholders, enabling them to make informed decisions and drive sustainable growth.