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Continuously Variable Transmission Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Report Format: PDF+Excel | Report ID: SR112023A1197
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Market Overview:
The global continuously variable transmission systems market size reached US$ 21.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 29.1 Billion by 2028, exhibiting a growth rate (CAGR) of 5.47% during 2023-2028.
A continuously variable transmission (CVT) system refers to an automatic transmission system that changes through an uninterrupted range of different gear ratios. It has a two-pulley mechanism with variable diameters connected on either end of the engine and the wheels by a belt or chain. Also known as stepless transmission, pulley transmission and single-speed transmission, the CVT system effectively replaces gears with two variable-diameter pulleys. As a result, it offers useable power and driving convenience as compared to automatic transmission systems. Moreover, the CVT system is extremely fuel-efficient and provides maximum speed at low engine speed. They are also light-weighted, compact-sized, and consist of fewer moving parts, making them suitable for diverse automotive applications.
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Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Continuously Variable Transmission Systems Market Trends:
The global CVT system market is driven by various advantages, such as a smooth driving experience and quick acceleration for users. It also offers more useable power and consumes less fuel than conventional and manual transmission systems. As a result, the CVT system finds applications in tractors, snowmobiles, motor scooters, go-carts, and mix harvesters. Nowadays, consumers are shifting toward eco-friendly vehicles, which utilize CVT systems. It also consists of enhanced hydraulic systems, microprocessors, high-strength steel metal belts, and high-speed sensors, which help boost the handling capacity of the engine. Furthermore, several manufacturers, like Toyota, are producing hybrid, electric mid-sized hatchback models, which are equipped with power-split CVT technology. It offers a fixed gear ratio and higher torque handling capability, which are expected to escalate the demand for CVT systems.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global continuously variable transmission systems market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on type, vehicle type, fuel, capacity, and end user.
Breakup by Vehicle Type:
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- Passenger cars
- Light commercial vehicles
- Heavy commercial vehicles
- Others
Amongst these, passenger cars represent the most preferred vehicle type.
Breakup by Type:
- Hydrostatic
- Toroidal
- Cone
- Variable geometry
- Variable diameter
- Others
On the basis of the type, hydrostatic systems are the most popular type of CVT systems.
Breakup by Fuel:
- Gasoline
- Diesel
- Hybrid
At present, gasoline accounts for majority of the total global market.
Breakup by Capacity:
- Up to 1.5 L
- 1.5 L to 3.0 L
- Above 3.0 L
Based on the capacity, the report finds that CVT systems with 1.5 L to 3.0 L capacity hold the biggest market share.
Breakup by End User:
- OEM
- Aftermarket
OEM currently exhibits a clear dominance in the market.
Regional Insights:
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- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
Region-wise, Asia Pacific holds the leading position in the market.
Competitive Landscape:
The competitive landscape of the market has been analyzed, with some of the leading players being TEAM Industries Inc., Schaeffler AG, Endurance Technologies Limited, NIDEC-SHIMPO, ZF Friedrichshafen AG, STEYR, Toyota Motor Corporation, Gaokin Industry Co. Ltd., General Transmissions, and Fallbrook Intellectual Property Company LLC.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2022 |
| Historical Period | 2017-2022 |
| Forecast Period | 2023-2028 |
| Units | US$ Billion |
| Segment Coverage | Vehicle Type, Type, Fuel, Capacity, End-User, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Companies Covered | TEAM Industries, Inc., Schaeffler AG, Endurance Technologies Limited, NIDEC-SHIMPO, ZF Friedrichshafen AG, STEYR, Toyota Motor Corporation, Gaokin Industry Co., Ltd, General Transmissions and Fallbrook Intellectual Property Company LLC |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global continuously variable transmission systems market was valued at US$ 21.0 Billion in 2022.
We expect the global continuously variable transmission systems market to exhibit a CAGR of 5.47% during 2023-2028.
The rising usage of continuously variable transmission systems in various automotive applications, owing to their fuel-efficiency, lightness in weight, and maximum speed at low engine speeds, is primarily driving the global continuously variable transmission systems market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of various manufacturing units for continuously variable transmission systems.
Based on the vehicle type, the global continuously variable transmission systems market can be segmented into passenger cars, light commercial vehicles, heavy commercial vehicles, and others. Currently, passenger cars hold the majority of the total market share.
Based on the type, the global continuously variable transmission systems market has been divided into hydrostatic, toroidal, cone, variable geometry, variable diameter, and others. Among these, hydrostatic systems exhibit a clear dominance in the market.
Based on the fuel, the global continuously variable transmission systems market can be categorized into gasoline, diesel, and hybrid. Currently, gasoline accounts for the majority of the global market share.
Based on the capacity, the global continuously variable transmission systems market has been segregated into up to 1.5 L, 1.5 L to 3.0 L, and above 3.0 L. Among these, 1.5 L to 3.0 L capacity holds largest market share.
Based on the end user, the global continuously variable transmission systems market can be bifurcated into OEM and aftermarket. Currently, OEM exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where Asia Pacific currently dominates the global market.
Some of the major players in the global continuously variable transmission systems market include TEAM Industries Inc., Schaeffler AG, Endurance Technologies Limited, NIDEC-SHIMPO, ZF Friedrichshafen AG, STEYR, Toyota Motor Corporation, Gaokin Industry Co. Ltd., General Transmissions, and Fallbrook Intellectual Property Company LLC.
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