The automotive gear market is anticipated to witness the growing market due to changing preference of automated transmission system as well as due to the technological advancement coupled with electrical vehicle. Gears are a common component of modern machinery which found in gearheads, watches, motors, furnaces and automation equipment. Due to the ease of manufacturing and the variety of alloys available, metal alloys are the most common material used for gears. Moreover, increased production of automobiles results in increased demand for gear systems. Factors such as better steering and handling control, flexible as well as cost effective nature are some of the factors driving the market of automotive gear market. Automotive gear market is growing in Asia-Pacific region with China and India expected to be the most promising markets. However, the high cost of components is a major challenge for the market.
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Key Players of Automotive Gear Market:
- Linamar Corporation
- NSK Ltd.
- Bharat Gears Ltd.
- Neapco Inc.
- Mitsubishi Group
- Dana Holding Corporation
- Robert Bosch GmbH
- ZF TRW
- GKN plc
1 Executive Summary
2 Research Methodology
2.1 Scope of the Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4 Global Automotive Gear Market, by material
5 Global Automotive Gear Market, by product type
Market Research Analysis:
Asia-Pacific is leading the market of automotive gear. With increasing vehicle production in countries such as India and China as well as the manufacturers’ focus on increasing production capacity, demand for automotive gear is anticipated to grow significantly. Growing purchasing power, low penetration of automobiles, and infrastructure development in emerging nations have resulted in an increase in demand for personal transportation and commercial vehicles. Increasing operational performance, improving drivability and ensuring safe transport of cargo and passengers is the top priority of automobile manufacturers. Additionally, increasing need for fuel-efficient vehicles with light-weight automotive parts and the increase in the demand for vehicles are the two factors driving the growth of the market. Europe and North America are referred as mature markets for the automotive gear. Whereas, North America holds the second largest market share in market followed by Asia-Pacific.
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