Automotive Gear Industry Overview
According to the detailed report published by Market Research Future (MRFR), the global Automotive Gear Industry is poised to acquire a significant market valuation at a substantial 6.4% CAGR over the review period.
Drivers and Restraints
The higher demand for automotive gears is due to the growth in the automotive industry. automotive gears help give an automobile, a smooth start to and allows the outer wheel to rotate better than the inner wheel for safer turns. Smooth gear shifting improves the driving experience, as well as the growing demand for low-carbon-footprint technologies, drives the growth of the global market for automotive gears over the review period. Moreover, rising disposable incomes and vehicle-ownership boost the Automotive Gear Industry growth. Lightweight and highly resilient aluminum and composite gears are estimated to achieve higher popularity over the forecast period. Shifting Focus towards high-quality products & the changing lifestyle of consumers and growing spending power, enhance the growth of the gear market for the automotive industry.
However, the high cost of advanced gear systems than the conventional gear system acts as a hindrance to the growth of the Automotive Gears Industry over the assessment period.
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The leading market players operating identified by MRFR in the global Automotive Gear Industry are
Bharat Gears Ltd
Dana Holding Corporation
Robert Bosch GmbH
The global market for automotive gears has a highly competitive scenario. The leading market players are expected to contribute significantly towards the automotive leaf spring market growth over the review period. The market is also expected to witness the rise of numerous entrants in the foreseeable future. Increasing research and development activities towards developed technology integration along with strategic business tactics such as product development, mergers, acquisitions, partnerships, and joint ventures, to sustain the competitive dynamics.
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Automotive Gear Market Segmental Analysis
The global Automotive Gear Industry is analyzed on the basis of the material, product, and vehicle.
The material segment of the global Automotive Gear Industry is bifurcated into metallic and plastic. The metallic segment is poised to witness a higher CAGR over the review period. This is attributed to the increased durability of metals as compared to plastics.
The product segment of the global Automotive Gears Market is segmented into planetary, bevel, helical, non-metallic, and others.
The vehicle segment of the global automotive gear segment is bifurcated into passenger vehicles and commercial vehicles. Both segments are expected to witness higher growth over the assessment period, owing to the increasing commercialization across the globe and the rising disposable income of consumers.
The geographical analysis of the global Automotive Gear Market has been conducted in four major regions, namely the Asia Pacific, North America, Europe, and the rest of the world (including Latin America and the Middle East and Africa).
The Asia-Pacific market is dominating the market of The Asia-pacific Automotive Gear Industry due to growth in the automotive sector. The growth of the Automotive Gear Industry is also influenced by the automotive manufacturing industries in developing economies such as Japan, China, and India, which are driving the demand for automotive gears. The market in the developing countries is primarily driven by economic growth and ongoing industrialization, which helps in the production of motor vehicles and other manufacturing output.
North America is considered as the second-largest automotive gears market due to factors such as a large customer base systems and high disposable income of end-users have fueled the demand for vehicles in the country. The established automotive industry in the region is also expected to contribute substantially to the North American gear market share over the review period.
Table Of Content
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 Industry, By Material
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LIST OF TABLES
Table 1 Global Automotive Gear Industry, By Material
Table 2 Global Automotive Gear Market, By Product Type
Table 3 Global, By Vehicle Type
Table 4 Global Market, By Regions
Table 5 North America Market, By Material
Table 6 North America Market, By Product Type
Table 7 North America Market, By Vehicle Type
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