Automotive Gearbox Market Demand and Trends Analysis 2034

Automotive Gearbox Market Trends and Global Production Volumes

The automotive gearbox market is expected to increase from USD 70.67 billion in 2025 to USD 113.84 billion by 2034, growing at a CAGR of 5.44% throughout the forecast period from 2025 to 2034.

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Introduction

The automotive gearbox market is a prominent segment of the automotive components industry. This industry deals in manufacturing and distribution of gearboxes for automotives. There are various types of gearboxes available in the market comprising of manual transmission, intelligent manual transmission, automated manual transmission, automatic transmission, continuously variable transmission and dual clutch transmission. These gearboxes are designed for different vehicles including Hatchback/Sedan, SUV, LCV and HCV. The growing demand for commercial vehicles has increased the demand for gearboxes, thereby fostering the industrial expansion. This market is projected to rise significantly with the growth of the automotive sector around the world.

• According to the International Organization of Motor Vehicle Manufacturers, around 71564 commercial vehicles were sold in Netherlands in 2020 that increased to 85828 in 2023.

Highlights of the Automotive Gearbox Market

• Asia Pacific held the dominant share of the automotive gearbox market due to the presence of several automotive brands such as Toyota, Tata, Suzuki, Maruti and some others.
• Europe is expected to grow with a significant CAGR due to the technological advancements in automotive sector along with rising adoption of EVs.
• The automatic transmission (AT) segment held the lion share of the market due to the growing consumer preference for easy drivability and enhanced comfort.
• The ICE segment held the largest share of the market due to the rising popularity of passenger cars in developing regions.

Automotive Gearbox: Stats

• According to the India Brand Equity Foundation, the Indian automotive component industry size in 2024 was valued at Rs 6.14 lakh crores.
• According to the International Organization of Motor Vehicle Manufacturers, around 1903054 passenger cars were sold in United Kingdom in 2023.
• According to the IEA, around 5.8 million PHEVs were sold in China during 2023.

Industry Leader Announcement

In June 2024, Harsha Kadam, the CEO and Managing Director of Schaeffler India made an announcement stating that, "The launch of PGS represents a remarkable achievement for Schaeffler India. This innovation not only strengthens our commitment to the ‘Make in India’ initiative but also underscores our dedication to delivering superior motion technology solutions that meet the evolving needs of the automotive industry. Schaeffler’s global innovation, quality and technology enables us to bring this PSG systems made in India closer us to our OEM partners."

Competitive Landscape

The automotive gearbox market is a matured industry with the presence of a several dominant players. Some of the prominent players in this industry consists of ZF Friedrichshafen AG (Germany), Aisin Seiki Co., Ltd. (Japan), Allison Transmission (U.S.), Eaton Corporation plc (Ireland), BorgWarner Inc. (U.S.) and some others. These companies are constantly engaged in developing high-quality gearboxes for automotives and maintain their dominance in this competitive industry.

• According to the annual report of Eaton, the automotive segment generated a revenue of US$ 2830 million in 2022 that increased to US$ 2965 million in 2023.

Market Segmentations

By Gearbox Type

• Manual Transmission
• Intelligent Manual Transmission
• Automated Manual Transmission
• Automatic Transmission
• Continuously Variable Transmission
• Dual Clutch Transmission

By Fuel Type

• ICE
• HEV
• BEV

By Vehicle Type

• Hatchback/Sedan
• SUV
• LCV
• HCV

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa