Automotive Gearbox Market: Key Highlights
Automotive Gearbox Market: Key Market Dynamics
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Automotive Gearbox Market: Regional Overview
The growth in the Asia-Pacific region is attributed to the high production and sales of automobiles owing to rising per capita income of consumers. This region has witnessed high penetration of automotive gearbox due to the economic growth and rise in industrialization in countries such as India, China, Australia, and Japan which are expected to boost the market growth. Furthermore, the rising demand for off-road and commercial vehicles are fueling the growth of automotive gearbox market.
In Europe, the increasing vehicle production, and changing lifestyle of the consumer are expected to propel the demand for automotive gearbox market. Furthermore, the increasing demand for passenger cars and customers’ preference towards premium vehicles has resulted in boosting the market growth in Europe. Moreover, Germany and France are the leading countries for automobile production which directly propels the automotive gearbox market growth in this region.
Automotive Gearbox Market: Key Players Overview
ZF Friedrichshafen AG company provides automotive components. The company offers systems for commercial vehicles, passenger cars, and industrial technology. In July 2019, ZF Friedrichshafen AG company invested in R&D for designing new generation 8-speed automatic transmission for hybrid vehicles. This new system enables mild, full, and plug-in hybrid drives to achieve electric power of up to 160 kilowatts.
Eaton company manufactures products for vehicle, aerospace, industrial, and commercial markets. The company offers, electrical power distribution and control equipment, hydraulic products and fluid connectors, engine components, truck drivetrain systems, and a wide variety of controls. In October 2019, the company plans to launch heavy-duty transmission for electric commercial vehicles. This is designed to provide maximum efficiency, for fast gear changes and to extend the battery life and range.
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