AUTOMOTIVE TRANSMISSION SYSTEMS MARKET ANALYSIS
Automotive Transmission System Market Growth Factors
Increasing demand for all types of vehicle is driving the growth of the automotive transmission system market. Moreover, increasing per capita income of individuals in emerging countries such as India and China has led to increase in spending on fuel efficient vehicles which is further boosting the market of transmission systems. According to International Organization of Motor Vehicle Manufacturers statistics (OICA), in 2016, total number of vehicles manufactured was around 94.9 million worldwide, which is expected to fuel the market growth during the forecast period. Automatic and semi-automatic transmission systems used in the vehicle are expected to drive growth of automotive transmission market, as these transmission systems are expected to replace conventional mechanism. Transmission technologies such as dual clutch transmission and continuous variable transmission have a high market potential due to their fuel efficiency.
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