increasing penetration of shift-by-wire technology is driving the Automotive Transmission Electronics Market
Technavio analyzes that the Automotive Transmission Electronics Market is expected to grow at a CAGR of 5.65% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 6.36 billion.There are various factors that contribute to the growth of the market. The automotive transmission electronics market is experiencing significant growth due in part to the increasing adoption of shift-by-wire technology. This advanced technology enables electronic control of vehicle transmissions, providing smoother shifts and improved fuel efficiency. As more automakers integrate this technology into their vehicles, the demand for automotive transmission electronics is expected to rise. Shift-by-wire systems also offer the potential for enhanced safety features and customizable driving modes, further boosting their appeal to consumers. The market is poised for robust growth in the coming years as this technology becomes more widespread.
In the passenger car market, automotive transmission electronics play a crucial role in enhancing vehicle performance and efficiency. Components such as transmission control units (TCUs), electronic shift-by-wire systems, and sensors are specifically designed to meet the unique requirements of passenger vehicles. These advanced technologies enable smoother gear shifts, optimized fuel consumption, and improved handling and braking capabilities. Furthermore, the increasing demand for lightweight transmissions and hybrid drives is driving the market growth in this segment. According to the Society of Indian Automobile Manufacturers (SIAM), the Indian passenger car industry experienced a significant expansion of 26% in recent years, indicating a substantial market potential for transmission electronics. Skilled technicians are essential to ensure the proper installation and maintenance of these complex systems, making the market for automotive transmission electronics a promising business opportunity.
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Automotive Transmission Electronics Market Segmentation
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The Automotive Transmission Electronics Market is experiencing significant growth due to increasing vehicle production and stringent emissions regulations. Automatic transmissions, including Automated Manual Transmission (AMT), Continuously Variable Transmission (CVT), and Dual Clutch Transmission (DCT), are becoming more popular in both passenger cars and heavy commercial vehicles. Fuel-efficient transmissions, such as lightweight transmission systems and electrified transmissions, are also gaining traction in response to carbon emission regulations. Electric and hybrid vehicles, including light commercial vehicles, are driving the demand for advanced transmission technologies. Safety regulations are also pushing the development of transmission systems that prioritize safety features. Automotive OEMs are investing in personalized design and innovative gearbox designs to meet consumer preferences and reduce fuel consumption. IC engines and electric engines are both being integrated into transmission systems to improve overall vehicle performance. Auto parts manufacturers are focusing on developing transmission systems that cater to various transmission types, including manual transmission and automated manual transmission, to meet the diverse needs of the automotive industry.
The Automotive Transmission Electronics Market is a significant segment of the global Automotive Parts and Equipment Market, which encompasses companies producing parts and accessories for various vehicle types, including passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. According to Technavio, market growth is influenced by several factors, such as the rising demand for electronic control units (ECUs) and other electrical components due to increasing sales of fuel-efficient transmission systems in PCs, EVs, and hybrid vehicles. Additionally, stringent emissions regulations and safety standards are driving the adoption of lightweight transmission systems. The global Automotive Components and Equipment Market's size is determined by the combined revenue generated by these manufacturers.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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