Automotive Gears Market to Reach $8.0 Billion, Globally, by 2033 at 4.8% CAGR: Allied Market Research

The global gear market is growing due to increases in vehicle production, rising demand for fuel-efficient vehicles, and advancements in transmission technologies.

WILMINGTON, Del., Sept. 5, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Automotive Gears Market by Application (Transmission, Differential and Steering System), Type (Spur, Helical, Rack and Pinion, Worm and Others), and Material (Metallic and Non-Metallic): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the automotive gears market was valued at $5.1 billion in 2023, and is estimated to reach $8.0 billion by 2033, growing at a CAGR of 4.8% from 2024 to 2033.

The expanding automotive industry, particularly in emerging economies, along with the growing popularity of electric and hybrid vehicles, further drives the market. Additionally, consumer preference for smoother driving experiences and enhanced vehicle performance contributes to the demand for high-quality gears. Innovations in gear manufacturing processes and materials also play a significant role in market expansion.

Request Sample of the Report on Automotive Gears Market Forecast 2033:
https://www.alliedmarketresearch.com/request-sample/A12240

Prime determinants of growth 

The gears market is expected to expand due to rising vehicle production, a growing demand for fuel-efficient and high-performance vehicles, and advancements in transmission technology. Nonetheless, high production costs and the transition to electric vehicles, which need fewer gears, pose challenges. Opportunities exist in technological advancements, including the development of lightweight materials and enhanced gear designs, as well as the increasing popularity of hybrid vehicles that continue to use traditional gear systems.

Market Segments

By Type 

The spur gear segment is expected to grow faster throughout the forecast period.

The spur gear segment is anticipated to experience faster growth in the gear market due to the expanding applications in industries like construction, mining, and agriculture. Spur gears are the most popular type of gear system. They are cylindrical in shape and employed in a variety of industrial applications. Spur gears are composed of toothed components and are noted for their great dependability, durability, and efficacy, as well as their ability to provide the continuous positive speed drive required for industrial applications. 

Procure Complete Report (324 Pages PDF with Insights, Charts, Tables, and Figures): https://www.alliedmarketresearch.com/checkout-final/automotive-gears-market-A12240

By Application

The differential systems segment is expected to grow faster throughout the forecast period.

The differential systems segment is anticipated to experience growth in the gear market, owing to its increase in adoption of advanced equipment for enhanced efficiency and safety. Gears facilitate swift attachment and detachment of construction machinery attachments, reducing downtime and boosting productivity on job sites. In addition, stringent safety regulations in the construction industry drive demand for gear with advanced safety features, further fueling market growth in this segment.

By Material

The non-metallic segment is expected to grow faster throughout the forecast period.

The non-metallic segment is anticipated to experience growth in the gear market. Non-metallic gears are typically made from materials such as plastics, composites, and high-performance polymers. One of the key benefits of these materials is their flexibility, as their modulus of elasticity is approximately 100 times lower than that of metals. This lower modulus of elasticity allows non-metallic gears to absorb shock loads and vibrations more effectively, resulting in quieter and smoother operation. Furthermore, this flexibility enables the real contact ratio of non-metallic gears to exceed the ideal value, enhancing their performance under various operating conditions.

By Region

Asia-Pacific to maintain its dominance by 2033.

Asia-Pacific is expected to maintain its dominance in the gear market by 2033 owing to robust industrialization, infrastructural development, and growing investments in construction and manufacturing sectors. The growing need for fuel-efficient automobiles and lightweight automotive parts propels the industry forward. Furthermore, lightweight, and highly robust aluminum and composite gears are expected to gain popularity during the forecast period. For instance, NORD introduced the SK 920072.1 two-stage helical bevel gear motor (mounted with a NORD motor), a driving solution for a variety of light-duty conveying, processing, and manufacturing applications. It is distinguished by its high strength yet lightweight design. 

To Talk With Our Industry Expert @ https://www.alliedmarketresearch.com/connect-to-analyst/A12240

Players: -

• BorgWarner Inc.
• Gleason Corporation
• Klingelnberg GmbH
• David Brown Santasalo
• SEW-EURODRIVE
• HÖFLER Maschinenbau GmbH
• Bonfiglioli Group
• Sumitomo Drive Technologies
• RENK AG
• Nord Drivesystems

The report provides a detailed analysis of these key players in the global gears market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

Recent Industry News

• In April 2022, Manuli Hydraulics, announced the launch of MQS-FEH Extra Heavy Duty quick coupling, which was disgned for use in high-vibration situations.

Explore More Trending Report

Superyacht Market Size, Share, Competitive Landscape and Trend Analysis Report, by Size, by Application, by Propulsion : Global Opportunity Analysis and Industry Forecast, 2023-2032 https://www.alliedmarketresearch.com/superyacht-market-A11376

Car Sharing Market Size, Share, Competitive Landscape and Trend Analysis Report, by Vehicle Type, by Application, by Model, by Area : Global Opportunity Analysis and Industry Forecast, 2023-2032 https://www.alliedmarketresearch.com/car-sharing-market-A07125

Car Carrier Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by End User : Global Opportunity Analysis and Industry Forecast, 2023-2032 https://www.alliedmarketresearch.com/car-carrier-market-A67033

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
USA/Canada (Toll Free):
+1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
AMR Resource Center: https://www.alliedmarketresearch.com/resource-center

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg