Aug 13, 2019 (AB Digital via COMTEX) -- According to “Global Transmission Repair Market 2019 Report, the global transmission repair market is predicted to grow at a 4% CAGR by 2023.
Leading players profiled in the transmission repair market report include ZF Friedrichshafen AG (Germany), Aisin Seiki Co., Ltd. (Japan), Driven Brands Inc. (US), Jiffy Lube (US), Continental AG (Germany), AAMCO (US), Schaeffler Technologies AG & Co. (Germany), BorgWarner Inc. (U.S.), and Allison Transmission (US), among others.
Get Free Sample “Transmission Repair Market 2019 Global Report” at: https://www.marketresearchfuture.com/sample_request/5078
The key players have used numerous strategies to create a niche in the market, such as acquisitions, mergers, product innovations, partnerships, research and development, and others.
Transmission Repair Market Analysis:
The global transmission repair market is predicted to grow at a 4% CAGR over the forecast period (2017-2023), states the new Market Research Future (MRFR) report. Transmissions are needed by all motorized vehicles, including aircraft and vessels. This helps to convert rotations and torque. The function of an automobile transmission is in adapting the traction accessible from the drive unit to suit the car, the driver, the environment, and the surface. Any form of failure in the transmission can result in the stoppage of the car. Thus, in the auto service industry, transmission repair is highly critical.
There are various forms of transmission repair services available resting on the type and severity of the car’s breakdown. Some of the most common transmission malfunction include in-car repairs and adjustments, reseal, rebuilding a transmission (complete overhaul), and replacing accessible parts. North America to Dominate Transmission Repair Market. Transmission Repair Market Eyeing Admirable Growth Due to Increased Car Sales. Higher Vehicle Parc to Have Positive Impact on Transmission Repair Market Growth
Various factors are propelling the transmission repair market growth. These factors, as specified by the Market Research Future (MRFR) report, include increased car sales worldwide, improved infrastructure, increasing average car age, miles traveled, and higher vehicle parc. Additional factors propelling market growth include an increase in ridesharing or carpooling, expanding automotive industry, technological advancements, an inclination for low emission vehicles, fuel efficiency, and growing environmental concerns.
On the contrary, the higher cost of repair and lack of skilled technicians are factors that may hamper the transmission repair market growth over the forecast period.
The Market Research Future report provides a wide segmental analysis of the transmission repair market based on vehicle type, repair type, and components.
Based on components, the transmission repair market is segmented into oil pump, clutch plate, gear, transmission filter, o-ring, and gaskets and seals. Of these, the gaskets and seals segment will have the largest share in the market over the forecast period.
Based on repair type, the transmission repair market is segmented into transmission overhaul and transmission general repair. Of these, the transmission general repair segment will dominate the market over the forecast period. It is predicted to grow at the highest CAGR owing to a surge in the adoption of periodic/preventive maintenance services for cars for keeping the transmission at the utmost efficiency.
Based on vehicle type, the transmission repair market is segmented into heavy commercial vehicle, light commercial vehicle, and passenger car. Of these, the light commercial vehicle segment will lead the market over the forecast period.
Based on the region, the market for transmission repair report covers growth opportunities and the latest trends across the Asia Pacific (APAC), Europe, North America, and the Rest of the World (RoW). Of these, North America will dominate the market over the forecast period. This is owing to the increased sales of light commercial vehicles and passenger cars in this region, larger vehicle parc, increase in ridesharing, and increased average car miles traveled.
The transmission repair market in the APAC region is predicted to have the second-largest share in the market over the forecast period. It is predicted to grow at the highest CAGR. This is owing to the presence of a flourishing automobile industry here, the frequent need of transmission repairs due to rising emission norms resulting from the growing environmental concerns, fast-developing infrastructure, and increasing sales of cars. China and Japan are the key contributors here.
July 2019: Automotive giant Mercedes is all set to launch the much-awaited AMG A45 S and A45. Both the models will be equipped with a newly created multi-plate clutch, dual-clutch gearbox, four-wheel-drive system, and four-cylinder petrol engine. Both these hatchbacks were recently revealed at the Goodwood Festival of Speed.
Table Of Content:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
5 Global Transmission Repair Market, By Components
5.2 Gaskets And Seals
5.2.1 Market Estimates & Forecast, 2017-2023
5.2.2 Market Estimates & Forecast By Region, 2017-2023
5.3.1 Market Estimates & Forecast, 2017-2023
5.3.2 Market Estimates & Forecast By Region, 2017-2023
5.4 Transmission Filter
5.4.1 Market Estimates & Forecast, 2017-2023
5.4.2 Market Estimates & Forecast By Region, 2017-2023
5.5.1 Market Estimates & Forecast, 2017-2023