World News: 14:54 GMT Thursday 6th December 2018. [Technavio Research via Businesswire via SPi World News]
Technavio analysts forecast the global automotive transmission housing market to grow at a CAGR of close to 4% during the forecast period, according to their latest market research report.
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Technavio has released a new market research report on the global automotive transmission housing market for the period 2019-2023. (Graphic: Business Wire)
The growing use of magnesium alloy to manufacture transmission housings is one of the major trends being witnessed in the global automotive transmission housing market 2019-2023. The vendors operating in the market are increasingly using innovative materials in the manufacturing of transmission housing. The manufacturers and designers of automotive transmission housing have started using magnesium that offers superior benefits over steel and aluminum due to the superior physical and mechanical properties. Automotive engineers consider magnesium alloys to be compatible for manufacturing thin-walled automotive components with complex geometries, such as housing. This factor is expected to fuel the growth of the market.
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According to Technavio analysts, one of the key factors contributing to the growth of the global automotive transmission housing market is the increasing use of efficient transmission housing designs:
Global automotive transmission housing market: Increasing use of efficient transmission housing designs
With the integration of advanced manufacturing techniques and processes, 3D simulation techniques and with the use of analysis procedures, the prominent vendors in the automotive transmission housing market are manufacturing transmission housing with high precision and cost-effectiveness. The vendors are incorporating innovative processes to streamline the pressing and post-pressing machining process required in the manufacturing of transmission housing. These factors are eventually helping develop efficient, lighter, and more rigid housing designs and reduce the defects or the probability of development of cracks within the housing.
According to a senior analyst at Technavio for research on automotive components, “the global automotive industry is witnessing immense growth in terms of sales volumes commercial and passenger vehicles. The sales volumes are estimated at 96.8 million units, registering a growth of about 3.09% compared to 2016. The staggering sales of automobiles across the world are expected to fuel the growth of the global automotive transmission housing market.”
Global automotive transmission housing market: Segmentation analysis
The global automotive transmission housing market research report provides market segmentation by application (passenger vehicles, and commercial vehicles) and by region (APAC, EMEA, and the Americas). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The APAC held the largest share of the market in 2018, accounting for more than 54% share, followed by EMEA and the Americas respectively. The APAC region is likely to continue dominating the market with the highest incremental growth during the forecast period.
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Some of the key topics covered in the report include:
Five Forces Analysis
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Business Wire: 14:54 GMT Thursday 6th December 2018
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