- Two-stage transmission unit of the vehicle consists of an arrangement between the input and output shaft within the gear box to provide different torque. Two-stage transmission is widely utilized in high speed vehicles that are popular among the young generation, which in turn is likely to boost the demand for Two-stage transmission vehicles across the globe.
Key Drivers of Two-stage Transmission Market
- Rise in demand for high speed vehicles across the globe is likely to significantly boost the two-stage transmission market. Rise in disposable income and increase in vehicle sales are attributed to a surge in consumer trend toward owning a vehicle due to spread of the pandemic. Rise in consumer preference for high-power engines and fuel-efficient vehicles is estimated to boost the two-stage transmission market across the globe. Rise in demand for utility vehicles, as two-stage transmission are widely used in the utility vehicles and sports vehicles, is anticipated to further drive the two-stage transmission market across the globe.
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- Rise in investment in small- and medium-sized businesses is also estimated to propel the two-stage transmission market across the globe. Reduction in tax rates on passenger and commercial vehicles due to the coronavirus pandemic is also prompting consumers to own vehicles, which in turn is likely to boost the two-stage transmission market across the globe. Major original equipment manufacturers are introducing lightweight vehicles to increase vehicle fuel-efficiency, which further propels the global two-stage transmission market.
Europe & Asia Pacific to hold significant share of global two-stage transmission market
- Europe is projected to account for a significant share of the global two-stage transmission market due to stringent rules and regulations regarding vehicle emission norms enacted across the region. Europe has presence of major original equipment manufacturers as well as tier-1 suppliers who have major facilities that undertake research & development regarding the transmission system, which is likely to propel the two-stage transmission market across the globe.
- Followed by Europe, Asia Pacific is projected to account a significant share of the global two-stage transmission market due to an increase in sale of vehicles across the region. Rising demand for fuel-efficient vehicles across Asia Pacific is likely to drive the two-stage transmission market in the region.
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Key Players Operating in Two-stage Transmission Market
The global two-stage transmission market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the global two-stage transmission market are:
- Eaton
- Robert Bosch GmbH
- Denso Corporation
- ZF Friedrichshafen AG
- Cummins Inc.
- Mando Corporation
- Neugart GmbH
- Marelli
- Allison Transmission
- Aisin Seiki Co. Ltd
- Magna International Inc.
- Schaeffler AG
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