Transmission Repair Market

Global Transmission Repair Market (2024 to 2029)

The global transmission repair market is expected to be worth USD 253.15 billion in 2024 and USD 300.66 billion by 2029, growing at a CAGR of 3.5% from 2024 to 2029.

The purpose of vehicle transmission is to customize the available traction from the drive unit to the vehicle, the surface, the driver, and the surrounding environment. The failure of the automotive transmission causes the vehicle to come to a halt. As a result, fixing transmission repair difficulties is extremely important. All types of motorized vehicles, including ships and planes, require transmissions to convert torque and revolutions. Transmission repair is a complicated operation with numerous interconnected components. Different technologies, including computers and hydraulics, are used by transmission specialists to regulate transmission functions.

The market for hybrid transmissions will grow as the demand for electric vehicles grows. Electric vehicles are becoming more popular by the day since they have various advantages, such as reduced hazardous gas emissions, low maintenance costs, and so on. The hybrid transmission will be widely used by electric car manufacturers in hybrid electric vehicles (HEV). The hybrid gearbox reduces the vehicle's fuel consumption by combining an electric motor with a combustion engine, which is expected to boost the hybrid transmission market.

The market growth rate is expected to be hampered over the forecast period due to considerably rising developments affecting the increasing production of electric vehicles due to demand. Because of their excellent efficiency and features, electric vehicles are radically changing the maintenance sector.

Impact Of COVID-19 on the global transmission repair market:

Stay-at-home orders have resulted in less driving, resulting in less wear on vehicles, and lower repair and maintenance requirements. Companies are offering to pick up customers' cars from their homes or places of business so that they can be serviced without exposing themselves to the virus. Several repair firms have made efforts to ensure that they can stay open during the pandemic. Customers may find this service to be a more convenient option after COVID-19, therefore demand for it may continue.

REPORT COVERAGE:

This research report on the global transmission repair market is segmented and sub-segmented based on component, type, vehicle and region. 

Global Transmission Repair Market - By Component:

• Gasket & Seal
• Fluid, O-ring
• Transmission Filter
• Gear
• Clutch Plate
• Pressure Plate
• Oil Pump

In terms of value, the fluids category is expected to be the fastest-expanding market. During the forecast period, the market for fluids is projected to be driven by the adoption of preventive/periodic maintenance services for transmission. 5 to 7 quarts of fluid are consumed on average. High-quality oil is a priority for OE firms to improve transmission efficiency and reduce the frequency of oil changes in transmissions.

Global Transmission Repair Market - By Type:

• Transmission General Repair
• Transmission Overhaul.

Transmission general repair will hold a 79.2% share of the market in 2020, owing to the increasing usage of periodic maintenance to extend the vehicle's life cycle. Users prefer transmission general repair over periodic transmission repairs since they raise the vehicle's age and fuel economy, adding to the market's growth.

Global Transmission Repair Market - By Vehicle:

• Passenger
• Light Commercial
• Heavy Commercial Vehicles

Passenger vehicles are expected to have the biggest market share in 2020, at 68.4%. The passenger automobile segment accounted for 67.2 million units, while commercial vehicles accounted for 24.6 million. In addition, the expanding number of passenger car production plants is expected to accelerate market growth.

Global Transmission Repair Market – By Region:

• North America
• Europe 
• Asia Pacific 
• Latin America 
• Middle East and Africa 

APAC dominated the market and accounted for 35.9% of the global market share in 2023 and will be the most dominant region, followed by North America and Europe, due to its vast manufacturing base. The enormous market share is partly due to the presence of massive industrial hubs in China and India. According to the China Association of Automobile Manufacturers, vehicle production and sales were 3.47 million and 3.67 million units, respectively, in March 2020. It also stated that the number of commercial cars has fallen in comparison to passenger vehicles. In addition, demand for electric vehicles is growing in countries like India, Japan, and others, which will fuel the transmission repair sector.

The transmission repair market in North America and Europe will have significant growth during the forecast period owing to the rising sales of commercial vehicles and the growing demand for electric vehicles. Both regions will be dominant forces in terms of transmission manufacturing due to the presence of some players in the region, in Germany and the USA specifically.

KEY MARKET PLAYERS:

ZF (Germany), Schaeffler (Germany), Continental (Germany), BorgWarner (US), AAMCO Transmissions (US), Jiffy Lube (US), Driven Brands Inc (US), Lee Myles (US), Aisin Seiki (Japan), Denso (Japan), Mister Transmission (Canada). Are some of the major key players involved in the global transmission repair market.

RECENT HAPPENINGS IN THE MARKET:

• Allison Transmission has completed the installation of a new assembly line for electric car axles. Allison's eGen Power series of fully integrated electric axles will be manufactured on this purpose-built production line, which includes automated assembly features.
• Schaeffler, a German automotive and industrial equipment supplier, opened a Large Size Bearing (LSB) Refurbishment Center in Jamshedpur, Jharkhand, on Friday in collaboration with Premier Bearings India Ltd.
• BorgWarner will supply a new high-voltage silicon carbide (SiC) inverter for use in electric vehicles to "a large German manufacturer." "With patented power switches, the 800V SiC inverter provides a more compact and efficient power module, resulting in increased electric vehicle range and enhanced driving performance2," according to BorgWarner.