Transmission Repair Market – Global Industry Analysis and Forecast (2024-2030)

Transmission Repair Market size was valued at US$ 238.84 Bn. in 2023 and the total revenue is expected to grow at a CAGR of 4.52% through 2024 to 2030, reaching nearly US$ 325.47 Bn.
Transmission Repair Market Overview:
Transmissions are critical to a vehicle's capacity to function. Transmissions basically transfer the engine's power to the drive axle through a series of gears, allowing the engine to run at different speeds. Transmission General Repair and Transmission Overhaul are the transmission repair types. Gaskets and Seals, Fluids, Transmission Filters, O-Rings, Axles, Flywheels, Gears, Clutch Plates, Pressure Plates, and Oil Pumps are the component types of transmission repair.To know about the Research Methodology :- Request Free Sample Report
Transmission Repair Market Dynamics:
Market Drivers

The demand for automotive manufacturing has risen dramatically in recent years as nations' economic standards have improved, as well as due to affordability. According to OICA data, commercial vehicle production increased by 2% in 2019 compared to 2018.

Because of the increased production of larger cars with transmission systems, the market is expected to grow significantly during the forecast period. Another key factor that is increasing the market outlook is the growth in the number of miles driven by an automobile over the course of its life.

Restraints

The transmission repair market is expected to be restrained as a result of heated transmission fluids, among other factors, which is a key factor that hampers the global transmission repair market's growth.

Opportunities

The Global transmission repair market is expected to grow in response to improved infrastructural upgrades and higher automotive sales worldwide. The rise in demand for passenger cars in developing countries such as India, Mexico, and China is expected to boost sales of old passenger cars in these countries, while the rise in demand for commercial cars in developed countries such as the United Kingdom, the United States, Germany, and Canada is expected to boost sales.

Challenges

The considerably increasing development of electronic cars as a result of the growing demand for electric vehicles among the population is expected to hinder the transmission repair market growth during the forecast period. Due to their features and excellent efficiency, electric vehicles were on the verge of destroying the maintenance sector. According to sources, Volkswagen has announced that it increased its electric vehicle manufacturing unit in the United States in 2019 with an expenditure of $800 million.
Transmission Repair Market Segment Analysis:
Based on the Repair Type, the market is segmented into Transmission General Repair and Transmission Overhaul. The Transmission General Repair segment is expected to hold the largest market share of xx% by 2030. The increased usage of preventive/periodic maintenance services for transmission in cars might be related to the rise of transmission general repair. Preventive and routine maintenance not only extends the life of a vehicle but also improves its fuel efficiency.

The transmission overhaul segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2024-2030. Factors such as rising global vehicle sales, improved infrastructure, and increased average vehicle miles travelled are all contributing to the growth of the transmission overhaul industry.

Based on the Vehicle Type, the market is segmented into Passenger Car, Light Commercial Vehicle, and Heavy Commercial Vehicle. The Passenger Car segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2024-2030. The market in this vehicle segment is expected to grow due to rising average vehicle miles travelled and growing passenger car sales in developing nations such as China, India, Russia, Brazil, and Mexico.Based on the Components, the market is segmented into Gaskets and Seals, Fluids, Transmission Filters, O-Rings, Axles, Flywheels, Gears, Clutch Plates, Pressure Plates, and Oil Pumps. The fluids segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2024-2030. During the forecast period, the market for fluids is expected 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 in order to improve transmission efficiency and reduce the frequency of oil changes in transmissions.
Regional Insights:
The North American region is expected to dominate the Transmission Repair Market during the forecast period 2024-2030. The North American region is expected to hold the largest market share of xx% by 2030. Increased commercial vehicle sales, improved infrastructure, and increased average vehicle miles travelled are all contributing to the region's market growth.

Asia Pacific region is expected to grow rapidly at a CAGR of xx% during the forecast period 2024-2030. This is due to increased car sales and a larger vehicle parc in the Asia Pacific region. Also, the presence of major key players of transmission repair in the Asia Pacific region is expected to boost the growth of the region in the market during the forecast period.

The objective of the report is to present a comprehensive analysis of the Global Transmission Repair Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Market dynamic, structure by analyzing the market segments and projecting the Global Market size. Clear representation of competitive analysis of key players by Technique, price, financial position, product portfolio, growth strategies, and regional presence in the Market make the report investor’s guide.
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Transmission Repair Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 238.84 Bn.


Forecast Period 2024 to 2030 CAGR:
4.52%
Market Size in 2030:
US $ 325.47 Bn.


 Segments Covered:
by Components
Gaskets and Seals
Fluids
Transmission Filters
O-Rings
Axles
Flywheels
Gears
Clutch Plates
Pressure Plates
Oil Pumps


by Repair Type
Transmission General Repair
Transmission Overhaul


by Vehicle Type
Passenger Car
Light Commercial Vehicle
Heavy Commercial Vehicle



Transmission Repair Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (razil, Argentina Rest of South America)
Key Players :
1. Allison Transmission
2. ZF Friedrichshafen AG
3. Mister Transmission Ltd.
4. Lee Myles Autocare & Transmission
5. Firestone Complete Auto Care
6. Schaeffler Technologies AG & Co. KG
7. Continental AG
8. AAMCO Transmissions
9. Cottman Transmission and Total Auto Care
10. BorgWarner Inc.
11. Jiffy Lube
12. Driven Brands Inc.
13. Aisin Seiki Co., Ltd.
14. Total Auto Care
15. Hi Tech Car Care

Frequently Asked Questions:

1] Which region is expected to hold the highest share in the Transmission Repair Market?
Ans. North America is expected to hold the highest share in the Transmission Repair Market.

2] Who are the top key players in the Transmission Repair Market?
Ans. Allison Transmission, ZF Friedrichshafen AG, Mister Transmission Ltd., Lee Myles Autocare & Transmission, and Firestone Complete Auto Care are the top key players in the Transmission Repair Market.

3] Which segment is expected to hold the largest market share in the Transmission Repair Market by 2030?
Ans. The Transmission General Repair segment is expected to hold the largest market share in the Transmission Repair Market by 2030.

4] What is the market size of the Transmission Repair Market by 2030?
Ans. The market size of the Transmission Repair Market is expected to reach US $325.47 Bn. by 2030.

5] What was the market size of the Transmission Repair Market in 2023?
Ans. The market size of the Transmission Repair Market was worth US $ 238.84 Bn. in 2023.