Transmission Repair Market is forecast to reach $259.8 million by 2025, growing at a CAGR of 3.76% from 2020 to 2025. Transmissions play a major role in a vehicle’s operation, hence the significant growth in automotive production is set to impact on the market growth rate. The significant adoption of periodic maintenance services for the vehicles in order to increase the vehicle age is set to boost the marke growth rate during forecast period 2020-2025.
- Transmission general type is analysed to dominate the market in 2019, majorly attributed to the increasing adoption of periodic maintenance of the vehicles.
- North America is analysed to dominate the market owing to the rising sales of the passenger as well as commercial vehicles in the region.
- The significant growth in the average miles driven by a vehicle is set to be the key driving factor for the transmission repair market
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Geography – Segment Analysis
APAC is the dominant region in 2019 with a market owing to the high production base in the region, followed by North America and Europe. The large market share is majorly attributed to the presence of large production bases in China and India. In March 2020, China Association of Automobile Manufactures has announced that vehicle production and sales volume reached 3.47 million and 3.67 million units. It has also stated that the commercial vehicles have declined than that of passenger vehicles. In December 2019, Morris Garages, a British automobile brand has announced its plans to invest $ 429.25 million.
Drivers – Transmission repair market
- Large Vehicle Parc
The automotive production has significantly risen in the past few years owing to the rising economic standards and affordability in many nations. As stated by OICA the commercial vehicles production has risen by 2% in 2019 compared to 2018. Hence the growing vehicular production in various countries is significantly impacting on the transmission repair market.
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Transmission repair market. Transmission repair driver market is expected to be dominated by major companies such as Allison Transmission, ZF, BorgWarner, Schaeffler, AAMCO, and Continental among others.
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