Market Trends of Automotive Transmission Repair Industry
This section covers the major market trends shaping the Automotive Transmission Repair Market according to our research experts:
Transmission Oil segment Captures Highest Market Share
By Component type, automotive transmission repair market for transmission fuel is expected to outperform the market. The main job of transmission fluid is to keep all the parts moving smoothly like gears and clutch. It helps to reduce the heat dissipation and reduce the wear and tear of contact surfaces. Hence, it is a very important factor in increasing the life expectancy of the engine.
To maintain the fluid viscosity and make sure there is required friction available between the surfaces, it is advisable to change the transmission oil after a particular time period or range covered by the vehicle whichever is occurs early. Hence, to maintain the engine performance and life the vehicle owner replaces the transmission fluid on a regular basis.
Large application scope in many automobiles is key driving factors of this segment.
With development of electric vehicles, transmission systems are introduced in the EVs and the major players in the segment are providing solutions for requirement of EV transmission systems. For instance, in May 2019, Shell Lubricants, launched E-Transmission Fluids, E-Thermal Fluids and E-Greases will make battery EVs perform better and be more efficient. This is part of Shell's ongoing drive to support electric mobility and offer more and cleaner energy solutions for its customers.
Asia-Pacific is Expected to be the Fastest Growing Market
The Asia-Pacific region is expected to be the fastest growing market for automotive transmission repair market. The growth can be attributed to the life expectancy of vehicles and growing used cars and passenger vehicles market. With the technological advancement and usage of more developed parts and equipment in commercial as well as passenger vehicles has attracted more demand in used vehicle segment.
As the life of vehicle increases the maintenance and repairing cost of the vehicle goes up and the user is expected to spend more on automotive transmission repair, so as to avoid any unexpected breakdown of the transmission and for a healthy transmission system.
In 2019, the Indian market witnessed almost 5 times higher demand in used commercial vehicles market than in new commercial vehicles market. This is because of the steady increase in price of new vehicles, which led the small fleet operators to look for used commercial vehicles.
In China the demand for used passenger cars during the period 2015-2019, witnessed a growth of more than 10%. The organized players in the region are also looking as used car sector as an opportunity and this is fueling the demand in used vehicles segments and henceforth, the demand in automotive transmission repair market is growing altogether.
Many major players in the region are expanding their portfolio to cater the demand for aftermarket customers in the region. For instance, in May 2019, Schaeffler's Automotive Aftermarket division expanded its portfolio for clutch repair of Asian vehicles. Under its LuK brand, Schaeffler offers more than 450 articles from individual parts like dual-mass flywheels and concentric slave cylinders, all the way to intelligently conceived repair solutions.
