AUTOMOTIVE TRANSMISSION SYSTEMS MARKET ANALYSIS
Automotive Transmission Systems Market Regional Insight:
On the basis of geography, the automotive transmission system market is segmented into North America, Europe, Asia Pacific, Middle East, and Africa. Asia Pacific is the fastest growing market for the automotive transmission due to increasing disposable income of the population in the region, which has led to the rise in sales of vehicles and relevant systems. According to Coherent Market Insights, Asia Pacific held dominant position in the passenger cars segment. For instance, according to OICA, passenger car sales in the region was valued at around US$ 39.4 million in 2016. Out of these, sales in China was valued at US$ 24.3 million. Europe held a considerable market share in automotive transmission system market due to DCT-equipped cars and light commercial vehicles. According to OICA, registrations or sales of new vehicles sales in the region was valued at around US$ 20.1 million in 2016 and the requirement followed by US$ 20.9 million in 2017
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