Pune, India -- (SBWIRE) -- 11/06/2018 -- The main objective of this report is to define, describe, and forecast the global "Automotive Transmission System" market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market. According to the report, the global automotive transmission system market is projected to grow at a CAGR of 6.5% over the forecast period of 2018-2024.

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Auto-industry stalwarts Cummins and Allison rev up for era of electrification

In August 2017- Old-line manufacturers like Cummins Inc. and Allison Transmission Holdings Inc. find themselves in a precarious spot these days. If they don't embrace the electric-vehicle future which has a near mania surrounding it—they look backward. Both companies were founded about a century ago, with Cummins pioneering diesel engines and Allison heavy-duty automatic transmissions. Both now have market values in the billions of dollars, thanks in no small part to the popularity of the ubiquitous internal combustion engine.

Growing demand for automatic and semi-automatic transmission to promote growth in the automotive transmission system market

Consumer preference for improved driving experience and smooth gear shifting drives the growth of the automotive transmission system market. Moreover, the growing demand for automatic and semi-automatic transmission systems used in the vehicles to escalate the revenues of the OEM manufacturers. Strong demand from the passenger and commercial vehicles is augmenting the automotive transmission system market. Moreover, increasing per capita income among individuals in emerging countries such as India, China, and Mexico has led to an increase buying of automotive transmission systems. However, economic slowdown and political instability in particular regions may affect the growth rate of the automotive transmission system market. With the increase inclination towards the adoption of the automatic transmission system coupled with rising disposable income, the market of automotive transmission is expected to increase, in terms of value.

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Asia Pacific region to contribute to growth in the global the automotive transmission system market

Asia Pacific region held the highest market share in the automotive transmission system market. Increased vehicle production and increased adoption of the automatic and semi-automatic transmission system in the vehicle is primarily driving the demand for the automotive transmission system. Countries like India and China has the highest number of passenger car sales in this region. With rising disposable income and increase per capita spending the demand for the automotive transmission system is expected to rise. Regions such as the Middle East & Africa and South America is expected to grow at a significant rate during the forecast period, owing to recovery in their respective economies.

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