Market Synopsis
As per the research by Market Research Future Reports (MRFR), the global transmission repair market has witnessed exponential growth. The market is estimated to expand at a CAGR of 4% during the review period. The improvements in infrastructure are one of the most significant elements driving the global transmission repair market 2020. A worldwide rise in the sales of automobiles is estimated to propel the market additionally. Besides, there has been growing investment in the growth of public transmission facilities and is also likely to expand the market. Besides, the increasing investment by the manufacturers for manufacturing larger automobiles equipped with developed transmission systems.
The inabilities of transmission results in a non-functional vehicle, which is likely to propel the transmission repair market size in the forthcoming period. Moreover, size of the market is increasing number of miles covered by automotive throughout its life, which has resulted in increased average age of vehicles. However, the threats faced by the transmission repair experts like hot transmission fluids, among others, are likely to hinder the growth of the market.
Moreover, the outbreak of COVID-19 has resulted in the changing dynamics of the market. Several regions have been affected, which has affected the trajectory of the market. It may take some time to recover from the damage caused by the pandemic. We will provide COVID-19 impact analysis with report.
Market Segmentation
The global transmission repair market can be segregated on the basis of repair type, components, vehicle type, and region.
On the basis of repair type, the global transmission repair market can be classified into transmission overhaul and transmission general repair.
On the basis of components, the global transmission repair market can be classified into o-ring, gaskets and seals, transmission filter, clutch plate, gear, and oil pump.
On the basis of vehicle type, the global transmission repair market can be classified into the passenger car, heavy commercial vehicle, and light commercial vehicle.
On the basis of region, the global transmission repair market can be classified into North America, Europe, Asia Pacific and the Rest of the World.
Regional Analysis
The regional analysis of North America, Europe, Asia Pacific, and the Rest of the World has been conducted. As per the analysis by MRFR, the North American region is estimated to lead the global transmission repair market during the forecast period. Owing to the presence of established players in the region, North America is likely to propel at a fast pace. Additionally, it is likely to benefit from the increasing dependency on prion automobiles for traveling. Besides, the region consists of developed nations like the US and Canada, which represents a robust public transportation infrastructure.
On the other hand, the APAC region is estimated to expand at the highest CAGR due to the booming automobile industry in the region. It is also due to the increasing demand for fuel-efficiency. Moreover, the growing emission has given an alarm and increased the environmental concerns, precisely in China and Japan.
Furthermore, strict rules and regulations have been announced, which will propel the regional market. However, the outbreak of COVID-19 has caused the markets to come at a halt. The dynamics of the market are changed, and it will take time to recover from the damage caused.
Key Players
The forefront players of the global transmission repair market are ZF Friedrichshafen AG (Germany) ZF Friedrichshafen AG (Germany), Allison Transmission (U.S.), BorgWarner Inc. (U.S.), AAMCO (U.S.), Schaeffler Technologies AG Co. (Germany), Continental AG (Germany), Driven Brands Inc. (U.S.), Jiffy Lube (U.S.), Aisin Seiki Co., Ltd. (Japan), and few others.
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