Transmission Repair Market Share, competitor Strategy and Future Forecast to 2023

Market Research Future published a research report on “Global Transmission Repair Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Global Transmission Repair Market Research Report �" By Component (Gaskets & Seals, O-ring,  Gear, Clutch Plate, Oil Pump), Repair type (Transmission General Repair, Transmission Overhaul), Vehicle Type (Passenger Car, LCV, HCV), region - Forecast Till 2023

Market Synopsis

Transmissions are required by all kinds of motorized vehicles, including vessels and aircrafts for converting torque and rotations. The function of vehicle transmission is to adapt the traction available from the drive unit to suit the vehicle, the surface, the driver as well as the environment. The failure of the transmission of the automotive, leads to the stoppage of the automotive. Therefore, in the automotive service industry, the resolving of transmission repair issues is very critical.

The transmission repair market is expected to experience huge growth over the forecast period with the increasing adoption of the timely maintenance of the vehicles by owners with the objective of keeping the transmissions at fuel efficiency. This periodic and timely servicing of the vehicles helps in increasing the age of vehicles and in enhancing the fuel efficiency. The process of transmission repair is very complex, as it has many interrelated components. The difficulty faced by the driver in diagnosing and correcting the faults, leads to the support by professional specialist for transmission repairs. The transmission specialist are making use of different technologies such as computers, hydraulics for regulating the functioning of transmissions.

The global transmission repair market has seen a remarkable growth in the global market and it has been observed that, its demand in future is expected to grow with the CAGR of ~4%.

The market is further expected to experience huge potential of expansion during the forecast period due to the increase in investment by the original equipment manufacturers for manufacturing bigger cars donned with efficient transmission systems. Other factors driving the growth of the market are increasing number of miles covered by an automotive throughout its life which in turn has resulted in an increase in the average age of the vehicles. Furthermore, the rapid improvements in infrastructure along with the increase in the sales of automobiles worldwide is also expected to spur the growth of the market.

However, the growth of this market is expected to be restrained by the dangers faced by the transmission repair experts such as from hot transmission fluids among others.

The global transmission repair market has been divided as components, repair type, vehicle type and regions. On the basis of components, the market is segmented into gaskets and seals, o-ring, transmission filter, gear, clutch plate, oil pump and others. Gaskets and seals has been reported to dominate the global market by type as of 2016 in terms of market revenue. On the basis of repair type, the market has been segmented as transmission general repair and transmission overhaul. On the basis of vehicle type, the market has been segmented into passenger car, light commercial vehicle and heavy commercial vehicle. Among these, light commercial vehicle accounted the highest market share in 2016 in terms of revenue. 

Geographically, the global transmission repair market has been divided into four major regions such as North America, Europe, Asia Pacific and the Rest of the World.  The North American region is expected to dominate the global transmission repair market over the forecast period. However, the Asia Pacific region is expected to grow with the highest CAGR owing to the flourishing automobile industry in the region. Also, need of transmission repairs is very frequent owing to the increased emission norms driven by the rising environment concerns majorly in countries such as China and Japan.

The prominent players in the transmission repair market include Allison Transmission (U.S.), ZF Friedrichshafen AG (Germany), BorgWarner Inc. (U.S.), Schaeffler Technologies AG & Co. (Germany), AAMCO (U.S.), Continental AG (Germany), Jiffy Lube (U.S.), Driven Brands Inc. (U.S.), Aisin Seiki Co., Ltd. (Japan), ZF Friedrichshafen AG (Germany) and others.

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