The Global Transmission Repair Market is estimated to be USD 194.39 Bn in 2023 and is expected to reach USD 236.85 Bn by 2028 growing at a CAGR of 4.03%.Diagnosing and repairing electronic transmission issues can be more intricate and require advanced technical knowledge
Transmission repair refers to the process of repairing or replacing the transmission system in a vehicle. The transmission system is responsible for transferring power from the engine to the wheels, allowing the vehicle to move forward or backward. It is an essential component of a vehicle and can be quite complex, consisting of numerous gears, clutches, and other mechanical parts. It may be required if a vehicle's transmission system fails or malfunctions. Symptoms of transmission problems may include difficulty shifting gears, slipping gears, or a burning smell coming from the transmission. Transmission repair may involve replacing damaged parts, rebuilding the transmission, or replacing the entire transmission system.
The market is driven by the increasing mounting of average vehicle age and extended warranty. As vehicles age and accumulate more mileage, transmission issues become more common, leading vehicle owners to prioritize preventative maintenance to avoid expensive repairs. This could involve regular fluid changes, inspections, and other measures to maintain the transmission's optimal condition. Additionally, as extended warranties become more prevalent, vehicle owners may expect coverage for gearbox repairs, leading to more conversations between repair shops and warranty providers, potentially resulting in greater scrutiny of repair processes and pricing. All these factors are contributing to a growing demand for transmission repair services.
However, the market is restrained by the developing sales of electric vehicles. Electric vehicles, with their advanced features and high efficiency, were posing a potential threat to the maintenance sector.
The increasing demand for automatic transmissions is a significant opportunity for the transmission repair market, as it is driving the need for repair services. Automatic transmissions are becoming increasingly popular, especially in developed countries. This is largely due to the convenience and ease of use that they offer. Automatic transmissions tend to last longer than manual transmissions, which means that there is a longer period during which repairs may be needed.
- However, the market is challenged by a lack of skilled technicians in transmission repair aftermarket. The growing complexity of modern transmission systems demands that technicians possess a comprehensive knowledge of electronics and computer programming. Those who have been working in the field for a considerable period may require additional training to stay abreast of the latest developments. Transmission repair is a specialized area that necessitates a unique skill set, which takes several years of training and experience to master.
Market Segmentations
- The Global Transmission Repair Market is segmented based on Component, Vehicle Type, Repair, and Geography.
- By Component, the market is classified into Transmission General Repair and Transmission Overhaul.
- The Transmission General Repair segment holds the largest share of the market. It includes services such as fluid changes, filter replacements, and minor repairs. These services are typically less expensive and less time-consuming than transmission overhauls, and they are often performed as part of regular maintenance or to address minor issues.
- By Vehicle Type, the market is classified into Passenger Car, Light Weight Commercial Vehicles, and Heavy Weight Commercial Vehicle.
- The Passenger Car segment holds the largest share of the market. The market for passenger cars is anticipated to experience growth, fueled by rising vehicle sales in emerging countries such as India, China, Brazil, Mexico, and Russia, along with an increase in the average distance covered by vehicles.
- By Repair, the market is classified into Transmission General Repair (TGRM) and Transmission Overhaul (TOM).
- The Transmission General Repair (TGRM) segment holds the largest share of the market. The surge in the adoption of preventative maintenance services for vehicle transmissions is accountable for the trend. Preventative maintenance not only extends the lifespan of vehicles but also boosts fuel efficiency.
- By Geography, the market is classified into the Americas, Europe, Middle East & Africa, and Asia-Pacific.
- Asia-Pacific region dominates the market. This growth can be attributed to the extended lifespan of vehicles and the flourishing market for used cars and passenger vehicles. The adoption of advanced parts and equipment in commercial and passenger vehicles has intensified the demand for used vehicles. As a vehicle's lifespan increases, the maintenance and repair costs rise, necessitating greater expenditure on automotive transmission repair to prevent unforeseen transmission breakdowns and to ensure a healthy transmission system.
Recent Development
- ZF Friedrichshafen Ag and Wolong Electric Group Co. Ltd. announced a joint venture on Electric components, which is going to increase the features of hybrid transmission and going to boost the hybrid transmission market. - March 2020
Company Profiles
The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are AAMCO Transmission, Aisin Seiki, Allison Transmission, Bonfiglioli Transmissions, BorgWarner, Continental, etc.Countries Studied
- America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
- Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
- Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
- Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)
- The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Ansoff Analysis
- The report presents a detailed Ansoff matrix analysis for the Global Transmission Repair Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
- The publisher analyses the Global Transmission Repair Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
- Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Transmission Repair Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
- Excel data sheet for the market size will also be provided with the report.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
- The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
- The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.
Report Highlights:
- A complete analysis of the market, including the parent industry
- Important market dynamics and trends
- Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
- Market segmentation
- Competitive Analysis: Comparative analysis of competitor
- Historical, current, and projected size of the market based on value and volume
- Market size of the US states
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Table of Contents
1 Report Description
2 Research Methodology
3 Executive Summary
4 Market Dynamics
5 Market Analysis
6 Global Transmission Repair Market, By Component
7 Global Transmission Repair Market, By Vehicle Type
8 Global Transmission Repair Market, By Repair
9 Americas' Transmission Repair Market
10 Europe's Transmission Repair Market
11 Middle East and Africa's Transmission Repair Market
12 APAC's Transmission Repair Market
13 Competitive Landscape
14 Company Profiles
15 Appendix
Companies Mentioned
- AAMCO Transmission
- Aisin Seiki Co. Ltd.
- Bonfiglioli Transmissions Pvt. Ltd.
- BorgWarner, Inc.
- Continental Ag
- Cottman Transmission and Total Auto Care
- Driven Brands, Inc.
- EXEDY Corp.
- Firestone Tire and Rubber Co.
- Flender Ag
- General Motors Co.
- GKN Automotive Ltd.
- JATCO Ltd.
- Jiffy Lube International, Inc.
- Linamar Corp.
- Precision International
- Schaeffler Technologies Ag and Co.
- Sonnax Industries, Inc.
- Valeo SA
- ZF Friedrichshafen Ag
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 137 |
Published | February 2024 |
Forecast Period | 2023 - 2028 |
Estimated Market Value ( USD | $ 194.39 Billion |
Forecasted Market Value ( USD | $ 236.85 Billion |
Compound Annual Growth Rate | 4.0% |
Regions Covered | Global |
No. of Companies Mentioned | 20 |