According to a recent report published by Prudent Markets, titled, “Transmission Control SystemMarket byInstallation andVehicle Type: Global Opportunity Analysis and Industry Forecast, 2019–2026,”the global transmission control system market sizewas valued at $36.30billion in 2018, and is projected to reach $58.61billion by 2026, registering a CAGR of 6.3% from 2019 to 2026.

Presently, Asia-Pacificdominates the market, followed byEurope,North America, andLAEMA.Chinadominated the Asia-Pacifictransmission control system market share in 2018 and is anticipated to maintain its leadduring the forecast period.

On the basis of installation, the transmission control system is categorized into installation and vehicle type.Integrated transmission control system can be defined as a control unit in which electronic set and electrical components such as transmission control unit, sensors, solenoids, and hydraulic valve body are integrated into a single module. This transmission system is installed in the oil pan of automatic transmission and continuously flushed with transmission oil to keep it cool. Leading engineering companies are introducing new range of commercial vehicles with addition of features such as integrated transmission control system. For instance, on December 16, 2019, Sandvik, an engineering company introduced new size-class transmission, which is an integrated transmission to increase productivity and achieve maximum speed and efficiency in varying conditions. Further, stand-alone transmission control system offers built-in tuning interface that allows most common setting to be changed without using any computer. This segment is anticipated to exhibit lucrative growth during the transmission control systemmarket forecast period.

Leading luxury vehicle manufacturers are launching new range of luxury passenger cars, which, in turn, is anticipated to propel the growth of transmission control system market for passenger car segment. For instance, January 15, 2019, Audi, a luxury vehicle manufacturer, launched its new Audi Q8 in India, which has eight-speed automatic transmission. In addition, the transmission control system market for commercial vehicles is anticipated to exhibit a significant growth rate, owing to launch of commercial vehicles with automatic transmission features. For instance, on August 11, 2019, MG, a British automobile manufacturer, launched new MG Extender pickup truck with rear-wheel drive and 6-speed automatic transmission. Further, the electric vehicle segment is anticipated to grow at a remarkable growth rate during the forecast period, owing to the launch of electric vehicles with automatic transmission feature. For instance, on December 23, 2019, Tata Nexon, an automobile manufacturer unveiled its new electric vehicle with automatic transmission feature.

Leading luxury automobile manufacturers in the region are introducing new range of vehicles with automatic transmission control module, which, in turn, is anticipated to propel the growth of transmission control system market in North America. For instance, in January 9, 2020, BMW, a multinational automobile provider launched new BMW X2 xDrive25e, which has six-speed Steptronic automatic transmission. In addition, Automobile industry giants are introducing new range of vehicles with autonomous features such as automatic transmission, which is anticipated to drive the growth of market. For instance, Volkswagen, a German automobile manufacturer introduced new Arteon R-Line Edition, which offers seven-speed, dual-clutch automatic transmission.

Factors such as increasing demand for automatic transmission in vehicles and growing trend of autonomous vehicles is anticipated to propel the growth of the transmission control system market. However, high cost of transmission control system and its related components hinder the market growth. Furthermore, production of active shift control transmission is expected to provide remarkable growth opportunities for players operating in the transmission control system market.

According to Lalit Katare&AnvaySonpimple, Research Analyst, Automotive and Transportation at AlliedMarket Research, “Based oninstallation, the Integratedsegmentdominatedthe global transmission control systemmarket in 2018, in terms of revenue. In addition, based on vehicle type, the electric vehiclesegment isexpected to exhibit remarkable growth rate during the forecast period.Presently, Asia-Pacificis the highest revenue contributor, followed by Europe,North America, and LAMEA.”

KEY FINDINGS OF THE STUDY

• On the basis ofinstallation, the stand-alonesegmentis anticipated to exhibit a remarkable growth during the forecast period.

• On the vehicle type, the passenger vehiclesegment is the highest revenue contributor and is anticipated to maintain its lead during the forecast period.

• Region wise,Asia-Pacific is the fastest growing region, followed by Europe, North America, and LAMEA.

The key players analyzed in this report are Continental AG, Robert Bosch, BorgWarner, Delphi Technologies, Denso Corporation, Dana Limited, Infineon Technologies, Eaton, Allison Transmission Inc., and ZF Friedrichshafen, and others.

 

Research link: https://www.prudentmarkets.com/report/transmission-control-system-market/533/