Global Continuously Variable Transmission Market Report 2024: Trends, Strategies, And Opportunities

Continuously Variable Transmission Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 29, 2024 /EINPresswire.com/ -- The global continuously variable transmission market has demonstrated robust growth, with the market size increasing from $20.14 billion in 2023 to $21.20 billion in 2024, at a compound annual growth rate (CAGR) of 5.3%. This growth is driven by the rising sales of luxury vehicles, demand for enhanced fuel efficiency, increasing utility vehicle sales, and heightened safety and comfort concerns. The market is expected to reach $26.30 billion by 2028, growing at a CAGR of 5.5% during the forecast period.

Growing Production of Automobiles Drives Market Expansion
The growing production of automobiles is a key factor propelling the continuously variable transmission market. Technological advancements in manufacturing processes, rising demand for electric vehicles, and improvements in automation and robotics contribute to this growth. The integration of CVTs into modern vehicles enhances fuel efficiency and driving comfort while adapting to various driving conditions. According to the International Organization of Automobile Manufacturers, global motor vehicle production increased from 84.83 million units in 2022 to 93.55 million units in 2023, underlining the importance of CVTs in meeting performance and environmental demands.

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Key Players and Market Innovations
Leading companies in the continuously variable transmission market include Toyota Motor Corporation, Honda Motor Co. Ltd., Hyundai Motor Company, Robert Bosch GmbH, and ZF Friedrichshafen AG. These companies focus on developing innovative transmission systems to enhance vehicle performance and comply with emission standards. For example, JATCO Ltd. introduced the Jatco CVT-X JF022E in June 2021. This next-generation CVT features advanced adaptive control algorithms for optimizing gear ratios based on real-time driving conditions, improving both performance and fuel efficiency.

Trends Shaping the Future
Several key trends are influencing the continuously variable transmission market, including:
Technological advancements in transmission systems
Integration of CVTs in luxury and eco-friendly vehicles
Development of start-stop systems and hybrid vehicle integrations
Advances in transmission device technologies

Market Segmentation
The continuously variable transmission market is segmented as follows:
By Type: Belt-Chain Drive Continuously Variable Transmission, Planetary Continuously Variable Transmission
By Capacity: Up To 1.5 L, 1.5 L To 3.0 L, Above 3.0 L
By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Other Vehicles
By End-Use: Original Equipment Manufacturer, Aftermarket

Geographical Insights: Asia-Pacific Leading the Market
In 2023, Asia-Pacific was the largest region in the continuously variable transmission market. North America is expected to be the fastest-growing region during the forecast period, driven by increasing vehicle production and adoption of advanced transmission technologies.

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Continuously Variable Transmission Global Market Report 2024 from TBRC covers the following information:
Market size data for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Continuously Variable Transmission Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on continuously variable transmission market size, continuously variable transmission market drivers and trends, continuously variable transmission market major players, competitors' revenues, continuously variable transmission market positioning, and continuously variable transmission market growth across geographies. The continuously variable transmission market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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