A transmission also referred to as the gearbox, facilitates the transfer of power generated in the engine to driving wheel. It is important for any motorized vehicle and can’t be used without transmission. Thus, the demand for transmission is anticipated to remain high over the next couple of years. Market Research Future MRFR had presented an observation that unravels that the global Transmission Repair Industry is expected to witness expansion at 4% CAGR during the evaluation period 2017 to 2023. According to the report, the global market is assumed to earn a decent amount of revenue in the years to come. The failure of transmission leads to stoppage of the vehicle, which is anticipated to boost the expansion of the Transmission Repair Industry in the coming years.
The Transmission Repair Industry is likely to benefit from the increasing sales of automobiles all over the world. The rising income levels in the global front has led to a rise in the demand for vehicles. It is expected to influence the market favorably. The fact that the production of vehicles is likely to increase in the coming years also paves the way for the development of the Transmission Repair Industry. Rising sales of automobiles are expected to lead to increasing demand for maintenance. This, in turn, is prognosticated to favor the growth of the Transmission Repair Industry over the assessment period.
Car owners are investing in the timely maintenance of their vehicles to ensure fuel efficiency. The rising demand for fuel systems is projected to catalyze the Transmission Repair Industry in the upcoming years. Timely maintenance not only facilitates fuel efficiency but also helps in extending the lifespan of the vehicle. It is a motivating factor for the proliferation of the market. In addition, the developments on technology are prognosticated to open new growth avenues. The introduction of automatic transmission has revolutionized the automotive industry. Increasing demand for high-end automobiles is anticipated to support the growth of the Transmission Repair Industry over the forecast period. Also, the rising investments in the expansion of public transportation facilities are poised to work in favor of the Transmission Repair Industry in the upcoming years.
By component, the Transmission Repair Industry has been segmented into gaskets & seals, o-ring, gear, clutch plate, oil pump.
By repair type, the Transmission Repair Industry is divided into transmission general repair, transmission overhaul.
By vehicle type, the Transmission Repair Industry has been segmented into passenger car, LCV, HCV.
The global Transmission Repair Industry has been segmented into four regions to present a geographical analysis. These regions are – North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). A further country-level assessment of these regional segments is also included in the report. North America is likely to dominate the market in the upcoming years. It is expected to benefit from the rising dependency of prion vehicles for traveling. The public transportation infrastructure of the region is also strong owing to the presence of developed nations. These factors are likely to provide for the development of the Transmission Repair Industry in the foreseeable future. Asia Pacific is prognosticated to generate revenues at the fastest growth pace. It is due to the rising demand for fuel-efficiency. Also, stringent emission control laws are observed to favor the growth of the regional market in the upcoming years.
Allison Transmission (U.S.), BorgWarner Inc. (U.S.), ZF Friedrichshafen AG (Germany), Schaeffler Technologies AG & Co. (Germany), Continental AG (Germany), AAMCO (U.S.), Jiffy Lube (U.S.), Aisin Seiki Co., Ltd. (Japan), Driven Brands Inc. (U.S.), and ZF Friedrichshafen AG (Germany) are key participants of the global Transmission Repair Industry.
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