AUTOMOTIVE TRANSMISSION GEARS MARKET ANALYSIS

Regional Analysis

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North America has established itself as the dominant region in the global automotive transmission gears market. The large-scale automotive manufacturing presence along with high vehicle ownership rates across countries like the US and Canada have created sustained demand for transmission gears over the years. Additionally, the preference of consumers in this region has gravitated towards automatic and automated manual transmissions equipped vehicles which utilize more sophisticated gear systems, thus further boosting gear requirements. Leading global transmission giants have set up manufacturing plants as well as research centers in North America in order to leverage the expertise available and cater to the needs of domestic automakers more efficiently.

Central and Eastern Europe has emerged as the fastest growing region for the automotive transmission gears market recently. Countries like Poland, Czech Republic, Hungary and Romania have witnessed rapid growth in their automotive production capacities fueled by investments from global automakers seeking to set up new manufacturing hubs within Europe. The lower labor and resource costs relative to Western Europe have made the region an attractive destination for mass production of small to mid-sized passenger cars which use transmission gears almost entirely procured from within the region or imported from nearby European nations. To meet the demand from growing vehicle manufacturing, many global gear suppliers have either set up regional headquarters or new plants in Central and Eastern European countries, enabling cost effective and timely delivery to automakers. The region also actively promotes its automotive industry through export opportunities in developed auto markets worldwide.