Transmission Repair Market Size, Growth, Trends & Forecast (2021 - 2026)
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 motorised 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.
Transmission Repair Market Recent Developments
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.
ZF Bus Connect is a new solution designed specifically for bus fleet operators. ZF Bus Connect is an innovative fleet management technology that allows public and private bus operators to increase and improve the efficiency and performance of their fleets in three key areas: safety, efficiency, and uptime.
Jiffy Lube, a national network of car oil change shops, has proposed building a new location in a shopping complex in Toms River Township. The corporation has suggested that the location be developed on a commercial pad site at 1256 Indian Head Road, which is part of the Indian Head Shopping Center. On a pad site of approximately 24,132 square feet, the proposal proposes the construction of a 3,064 square foot automobile shop.
Denso is reorganising its engineering and research and development divisions in North America to better integrate the company's electrical, thermal, and safety systems. North American design and engineering will combine its five product groups to make it easier for teams to collaborate and improve integration, performance, and quality.
Transmission Repair Market Drivers
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.
Transmission Repair Market Restraints
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.
Transmission Repair Market Segmentation
Component: The market is segmented into 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.
Type: The market is segmented into Transmission General Repair and Transmission Overhaul.
Transmission general repair will hold a 79.2 per cent 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.
Vehicle: The market is segmented into Passenger, Light Commercial and 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.
Transmission Repair Market Regional Analysis
APAC, with a market share of 35.9% in 2020, 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 the regions will be dominant forces in terms of transmission manufacturing due to the presence of some players in the region, in Germany and USA specifically.
Transmission Repair Market Leader
Allison Transmission is the largest company in the global transmission repair market.
Transmission Repair Market Key Player
Impact of COVID-19 for 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 taken 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.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Transmission Repair Market, By Component
6.1.1 Gasket & Seal
6.1.4 Transmission Filter
6.1.6 Clutch Plate
6.1.7 Pressure Plate
6.1.8 Oil Pump
6.1.9 Market Size Estimations & Forecasts (2021-2026)
6.1.10 Y-o-Y Growth Rate Analysis
6.1.11 Market Attractiveness Index
6.2 Transmission Repair Market, By Type
6.2.1 Transmission General Repair
6.2.2 Transmission Overhaul
6.2.3 Market Size Estimations & Forecasts (2021-2026)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Transmission Repair Market, By Vehicle
6.3.2 Light Commercial
6.3.3 Heavy Commercial
6.3.4 Market Size Estimations & Forecasts (2021-2026)
6.3.5 Y-o-Y Growth Rate Analysis
6.3.6 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Transmission Repair Market, by Region
7.2 North America - Market Analysis (2021 - 2026)
7.2.1 By Country
7.2.2 By Component
7.2.3 By Type
7.2.4 By Vehicle
7.3.1 By Country
18.104.22.168 Rest of Europe
7.3.2 By Component
7.3.3 By Type
7.3.4 By Vehicle
7.4 Asia Pacific
7.4.1 By Country
22.214.171.124 South Korea
126.96.36.199 South East Asia
188.8.131.52 Australia & NZ
184.108.40.206 Rest of Asia-Pacific
7.4.2 By Component
7.4.3 By Type
7.4.4 By Vehicle
7.5 Latin America
7.5.1 By Country
220.127.116.11 Rest of Latin America
7.5.2 By Component
7.5.3 By Type
7.5.4 By Vehicle
7.6 Middle East and Africa
7.6.1 By Country
18.104.22.168 Middle East
7.6.2 By Component
7.6.3 By Type
7.6.4 By Vehicle
8. Key Player Analysis
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.5 AAMCO Transmissions
8.6 Jiffy Lube
8.7 Driven Brands Inc
8.8 Lee Myles
8.9 Aisin Seiki
8.11 Mister Transmission
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures