Lucintel Forecasts the Global Automotive Gear Market to Reach $45 Billion by 2030
Lucintel Forecasts the Global Automotive Gear Market to Reach $45 Billion by 2030
Blog Article
According to a market report by Lucintel, the future of the global automotive gear market looks promising with opportunities in the transmission system, steering system, and differential system markets. The global automotive gear market is expected to reach an estimated $45 billion by 2030 from $39 billion in 2024 at a CAGR of 2.4% from 2024 to 2030. The major drivers for this market are rising interest in low-carbon technology, enhanced acceleration and seamless gear changes for a smoother driving experience, and rising vehicle production worldwide.
A more than 150-page report to understand trends, opportunity and forecast in automotive gear market to 2030 by product type (bevel gears, helical gears, rack & pinion gears, spur gears, worm gears, and others), material type (non-metallic gears and metallic gears), application (transmission system, steering system, differential system, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that bevel gear will remain the largest segment over the forecast period due to the increasing number of mechanical parts installed in passenger automobiles.
APAC will remain the largest region over the forecast period due to the increased use of automated components in cars, rising smooth gear shifting for a better driving experience, and expanding auto manufacturing in this region.
IMS Gear, Robert Bosch, ZF TRW, Dupont, Bharat Gears, GKN, Showa, Univance, RSB, AAM are the major suppliers in the automotive gear market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com. To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1-972-636-5056