Automotive Gears Market is expected to generate a revenue of USD 76.38 Billion by 2031, Globally, at 6.82% CAGR: Verified Market Research®
Lewes, Delaware, Nov. 13, 2024 (GLOBE NEWSWIRE) -- The Global Automotive Gears Market Size is projected to grow at a CAGR of 6.82% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 45.06 Billion in 2024 and is expected to reach USD 76.38 Billion by the end of the forecast period.
With advancements in automotive technology, gears play a critical role in enhancing vehicle performance, fuel efficiency, and driving experience. Our latest report covers every aspect of the market, including the increasing adoption of electric and hybrid vehicles, which is pushing the demand for lightweight and durable gear solutions.
Key Features of the Report
Market Size & Forecast: Detailed analysis of the market's current size, projected growth, and trends influencing the automotive gears industry.
Technological Trends: Insights into innovations in gear materials, manufacturing techniques, and the impact of electrification on gear design.
Competitive Landscape: A comprehensive overview of key players, market shares, product portfolios, and strategic initiatives shaping the future of automotive gears.
Regional Analysis: Deep dive into regional markets with forecasts and trends specific to North America, Europe, Asia-Pacific, and other key regions.
Opportunities & Challenges: Identification of opportunities to capitalize on emerging trends and a thorough analysis of challenges faced by industry participants.
Who Will Benefit from This Report?
This report is essential for automotive manufacturers, component suppliers, gear technology innovators, R&D teams, and investment firms seeking insights into the evolving automotive gears market. It offers actionable intelligence for stakeholders looking to enhance their product offerings, optimize supply chains, and capitalize on growth opportunities.
Stay ahead of the curve in the ever-evolving Automotive Gears Market. For more information or to request a sample copy of the report, please visit: https://www.verifiedmarketresearch.com/download-sample?rid=33956
202 - Pages
126 – Tables
37 – Figures
Scope Of The Report
| REPORT ATTRIBUTES | DETAILS |
| STUDY PERIOD | 2021-2031 |
| GROWTH RATE | CAGR of ~6.82% from 2024 to 2031 |
| BASE YEAR FOR VALUATION | 2024 |
| HISTORICAL PERIOD | 2021-2023 |
| FORECAST PERIOD | 2024-2031 |
| QUANTITATIVE UNITS | Value in USD Billion |
| REPORT COVERAGE | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis |
| SEGMENTS COVERED |
|
| REGIONS COVERED |
|
| KEY PLAYERS | Merck KGaA, BASF SE, DSM N.V., Zhejiang Xinhecheng Co., Ltd., Shandong Xinfa Pharmaceutical Co., Ltd., Changzhou Niutang Chemical Plant Co., Ltd., Gnosis S.p.A., Jiangxi Tianxin Pharmaceutical Co., Ltd., Zhejiang Medicine Co., Ltd., Shenzhen Simeiquan Biotechnology Co., Ltd., Now Foods, NutraMarks, Inc., Koninklijke DSM N.V., Nutritional Supplement Manufacturers, Inc., Vitabiotics Ltd., Church & Dwight Co., Inc., Amway Corporation, Herbalife Nutrition Ltd., GNC Holdings, Inc., Nature’s Bounty Co. |
| CUSTOMIZATION | Report customization along with purchase available upon request |
Global Automotive Gears Market Overview
Growing Demand for Electric and Hybrid Vehicles: The increase in electric and hybrid car use is a major factor influencing the Automotive Gears Market. These vehicles require unique gear systems that emphasize energy efficiency and lightweight materials. As consumers and governments advocate for sustainable transportation, the need for specialized gears designed for electric drivetrains is anticipated to increase, prompting manufacturers to innovate and spend, thus driving overall market growth.
Advancements in Gear Manufacturing Technology: Innovative production methods, like as 3D printing and precision forging, are transforming the Automotive Gears Market. These innovations provide greater precision, improved durability, and decreased production costs, satisfying the industry's demand for dependable and economical gears. This trend reduces operational costs for gear manufacturers and facilitates rapid adaptation to market demands, hence providing a strong incentive for expansion.
Rise in Automotive Production Globally: The vehicle Gears Market is experiencing a concurrent rise in demand due to the steady growth of global vehicle production. Emerging markets in the Asia-Pacific and Middle East are propelling output figures, requiring an increased quantity of gear components. This expansion presents profitable opportunities for gear manufacturers to enter new markets, fostering a dynamic market environment and emphasizing the demand for high-quality, cost-efficient gear solutions.
Download Sample Report Now: https://www.verifiedmarketresearch.com/download-sample?rid=33956
High Costs of Advanced Gear Technologies: The implementation of new gear technologies is constrained by their elevated costs, notwithstanding the advantages they offer. Precision manufacturing techniques and advanced materials, albeit providing enhanced performance, may result in increased production expenses, hence affecting profit margins in the Automotive Gears Market. Smaller manufacturers may encounter obstacles in accessing these technologies, thereby hindering market acceptance rates and growth in cost-sensitive countries.
Increasing Focus on Gearless Electric Powertrains: The shift towards gearless electric powertrains presents a challenge to the conventional Automotive Gears Market. Certain electric vehicle types obviate the necessity for conventional gear systems, hence diminishing the demand for traditional gears. This transition may hinder market expansion, especially as prominent automakers investigate direct drive and other gearless options, compelling conventional gear manufacturers to adjust their strategy to maintain relevance.
Volatile Raw Material Prices: Variations in the prices of raw materials, including steel and aluminum, pose a considerable challenge to the Automotive Gears Market. Volatile costs might affect the entire pricing of equipment, constraining margins and affecting long-term strategic planning for manufacturers. This instability compels gear manufacturers to use cost-containment techniques or transfer price hikes to consumers, thus obstructing market expansion in price-sensitive sectors.
Geographic Dominance:
The Asia-Pacific region exhibits geographical preeminence in the Automotive Gears Market, propelled by a strong automotive manufacturing foundation, escalating vehicle sales, and growing investments in electric mobility. Countries such as China, Japan, and India significantly contribute, cultivating a competitive environment for gear makers. This dominance enhances market growth by fostering innovation and large-scale production, while simultaneously attracting global entities aiming to establish or expand their presence in the region.
Key Players
The “Global Automotive Gears Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Merck KGaA, BASF SE, DSM N.V., Zhejiang Xinhecheng Co., Ltd., Shandong Xinfa Pharmaceutical Co., Ltd., Changzhou Niutang Chemical Plant Co., Ltd., Gnosis S.p.A., Jiangxi Tianxin Pharmaceutical Co., Ltd., Zhejiang Medicine Co., Ltd., Shenzhen Simeiquan Biotechnology Co., Ltd., Now Foods, NutraMarks, Inc., Koninklijke DSM N.V., Nutritional Supplement Manufacturers, Inc., Vitabiotics Ltd., Church & Dwight Co., Inc., Amway Corporation, Herbalife Nutrition Ltd., GNC Holdings, Inc., Nature’s Bounty Co..
Automotive Gears Market Segment Analysis
Based on the research, Verified Market Research® has segmented the global Automotive Gears Market into Type of Gear, Application, Vehicle Type, And Geography.
- Automotive Gears Market, by Type of Gear
- Spur Gears
- Helical Gears
- Bevel Gears
- Worm Gears
- Planetary Gears
- Automotive Gears Market, by Application
- Transmission Systems
- Differential Systems
- Steering Systems
- Engine Systems
- Automotive Gears Market, by Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Off-road Vehicles
- Automotive Gears Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
Browse Related Reports:
Automotive Diff Ring Gear Market By Product (Steel, Iron, Aluminum, Brass), By Application (Passenger Cars and Commercial Vehicles), By Geography, And Forecast
Automotive Gearbox Market By Application( Automatic Transmission, Automated Manual Transmission), By Number of gear (3-5 Gear, 6-8 Gear and Above 8 Gear), By Vehicle Type (Passenger Cars, Buses, Light Commercial Vehicles), By Geography, And Forecast
Automotive Diff Pinion Gear Market By Product (Steel, Iron, Aluminum, Brass), By Application (Passenger Cars and Commercial Vehicles), By Geography, And Forecast
Global Advanced Gear Shifter System Market Size By Technology (Automatic Shifter, Shift-By-Wire (SBW)), By Component (Solenoid Actuator, Electronic Control Unit (ECU)), By Vehicle Type (Light Duty Vehicle, Commercial Vehicle), By Geography, And Forecast
Top 5 automotive gearbox manufacturers gearing up speed of vehicles
Visualize Automotive Gears Market using Verified Market Intelligence -:
Verified Market Intelligence is our BI Enabled Platform for narrative storytelling in this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue-impacting decisions for a brilliant future.
VMI provides a holistic overview and global competitive landscape with respect to Region, Country, Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.
About Us
Verified Market Research® stands at the forefront as a global leader in Research and Consulting, offering unparalleled analytical research solutions that empower organizations with the insights needed for critical business decisions. Celebrating 10+ years of service, VMR has been instrumental in providing founders and companies with precise, up-to-date research data.
With a team of 500+ Analysts and subject matter experts, VMR leverages internationally recognized research methodologies for data collection and analyses, covering over 15,000 high impact and niche markets. This robust team ensures data integrity and offers insights that are both informative and actionable, tailored to the strategic needs of businesses across various industries.
VMR's domain expertise is recognized across 14 key industries, including Semiconductor & Electronics, Healthcare & Pharmaceuticals, Energy, Technology, Automobiles, Defense, Mining, Manufacturing, Retail, and Agriculture & Food. In-depth market analysis cover over 52 countries, with advanced data collection methods and sophisticated research techniques being utilized. This approach allows for actionable insights to be furnished by seasoned analysts, equipping clients with the essential knowledge necessary for critical revenue decisions across these varied and vital industries.
Verified Market Research® is also a member of ESOMAR, an organization renowned for setting the benchmark in ethical and professional standards in market research. This affiliation highlights VMR's dedication to conducting research with integrity and reliability, ensuring that the insights offered are not only valuable but also ethically sourced and respected worldwide.
Contact Us Mr. Edwyne Fernandes Verified Market Research® US: +1 (650)-781-4080 US Toll Free: +1 (800)-782-1768 Email: sales@verifiedmarketresearch.com Web: https://www.verifiedmarketresearch.com/ Follow Us: LinkedIn | Twitter SOURCE – Verified Market Research®
© Copyright Globe Newswire, Inc. All rights reserved. The information contained in this news report may not be published, broadcast or otherwise distributed without the prior written authority of Globe Newswire, Inc.
